ICICI Bank — Unapproved loan disbursed | |||||
I recently applied for a 5L personal loan in ICICI Bank online. A representative visited my house and collected few documents and then asked me to sign in the application forms he showed. He then asked me to give me 2 cancelled cheques. I thought all these are a part of ICICI banks application procedure. When asked about the interest percent he said they will verify my details and let us know how much interest rate I am eligible. Later after 2 weeks I received a call from ICICI bank saying that my loan has been approved. The phone representative instead of explaining me the loan details, was asking me to share another copy of my ID card, becase the previous one was not clear. I broke him in the middle and asked him to explain me about the loan details first. He then said the loan was approved for interest rate of 16.99%. Which was extremely high compared to other banks where I applied. I asked him to see if they can reduce the loan interest rate, but he denied. I said, ok I will let u know if I am interested, currently I am not interested with your loan offer and hanged the phone. Three days later, I recived a msg from bank stating my account has been credited with 4.8L roughly. And I realized the ICICI bank has dispursed my loan. I immedietly called the customer care and explained them that I was not interested in the loan for such high percent. They registered a case. But the representatives, the relation manager etc. Everyone denied that I didn't approve the loan, nobody asked me that if I approve their interest rate. The representative manager gave me 2 options. 1 to continue the loan and he will reduce the interest later after few months or another to cancel the loan paying 5% charges. I tried raising the case at banking ombursemen and also at ICICI greviences, but everyone denied my claim. I had to pay Rs.60k additionally from my pocket to close the case, for the processing fees + cancelation charges. Was this information helpful? | |||||
ICICI Bank customer support has been notified about the posted complaint. | |||||
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