[Resolved]  ICICI Bank — Stay away from this one

Address:

Gautam Buddh Nagar, Uttar Pradesh

Dear Sir/Madam,

This is a grievance regarding a Personal Loan Account Number
LPNOD[protected] in my name i.e VINEET KUMAR.

This Loan was borrowed from Sector 61 branch, Noida for Rs 5lacs.
The Loan Executive Mr.Ravi Shukla made a few false commitments to
deceive our understanding regarding the Fore Closure Penalty Charges.
Mr. Ravi Shukla, told us that we cannot fore close the loan before 6
months and there will be zero foreclosure charges after 6 months.
The Loan was very smoothly disbursed and amount of 4, 95, 506/- with the
deduction of .8% of processing fees was credited to our account within
2-3 working days on 28th June'2014 without the issue of any sanction
letter.
After repeated requests on phone to Mr. Ravi Shukla for the request for
WELCOME KIT, we have as on date also not received any letter stating the
terms and conditions of the personal loan.
Yesterday, it was 19th July and we walked upto the bank to share, that we
have not received any schedule or documents related to the Personal Loan
to which the person on the help desk gave us the Repayment Schedule and
also shared that there will be 5% foreclosure charges applicable across
the tenure.
Then we followed up with Mr. Ravi Shukla, he said that it's okay we
don't have to worry and he will get the waiver done for preclosure
charges as 0% and when we asked him that shall we get it in writing
about this he said NO but he will ensure that we don't have to give the
penalty whenever we foreclose until he is with the Bank.
Further, we asked what do we not worry about...he said after 1 year you
are not required to pay the Penalty not 6 months. But even that cannot
be given in writing
He confused us to such an extent that we Discussed this with the Deputy
Branch Manager/Privilege Banker-Mr. Dushyant
Mr.Dushyant asked Mr.Ravi Shukla about the commitment to which he
confessed and said that he made the commitment of 0 penalty charges in
Anticipation of the new RBI guidelines which are awaited and might get a
clearance for the same and accordingly the foreclosure charges will not
be applicable after 6 months or after 1 year, that all these promises
are a part of virtual realities/conditions which are not in place in the
current scenario.
When Probed further he said if you are not happy..close the loan today
and you will not be required to pay any penalty.
He also said we should not complain as according to him, he has not made
any false commitment to us but to our surprise he was sitting with 2
more customers who were signing their loan application request. When we
verified the same promise for 0 prepayment penalty was conveyed to them
also. Mr. Ravi then told us not that we should not discuss with those
customers as different conditions apply to them and we are misguiding
them.
This brought us to the conclusion that Mr.Shukla has been selling
personal Loans on behalf of your esteemed bank with false promises and
misleading customers to get tempted with offers which bank cannot
honour.
We are feeling cheated as 5% penalty charges would mean Shelling a big
sum ...a cost that was not disclosed( will have to be borne by us any
given point of time)
As a Customer We Ask you how are we liable to bear the brunt of your
employees greed of fulfilling his targets and now he says..he has many
customers to take care and we should not bother him any further.
After the Whole episode Mr Dushyant guided us to Write the narrate the
whole story to you.
It is requested to please redress our grievance and honour what has been
communicated to us by Ravi Shukla. We are still waiting for WELCOME KIT
AND related DOCUMENTS with requisite fulfilment of 0% foreclosure
charges after 6 months.
Please let us know if this practice needs to be escalated to the next
level, if no accountability is shown on Bank's behalf. We look forward
to an appropriate resolution as requested above.


Thanks and Regards,
Vineet Kumar
[protected]
[protected]@rediffmail.com