[Resolved] ICICI Bank — unfair trade practice

NNNMohammed

from Palakkad, Kerala

Address:

679336

On 4 jan 2018 i was informed by the icici credit card department that i have a loan offer on my credit card bearing 4375*0007.
On 6 jan 2018 i placed a request to process my loan for rs. 33000/- and for that i gave them my icici account no. 0060*9806 on being asked to provide. They gave assurance that the process will take 2-3 working days.
On 8 jan 2018 i received a call from icici lombard that as i have applied for a loan it would be better for me to take a loan protection policy which will insure the loan repayment and will also help process the loan in quick time. I gave them my approval after being assured that it will come into effect only after the loan is processed.
On 12 jan 2018 my credit card was debited with the policy amount and i was told that the loan would still take 2-3 days more time to get cleared.
On 18 jan 2018 my funds were still not cleared so i again contacted customer service and i found out that they have even charged my first emi of the loan.
They tried to fool me giving a lot of reasons but when i didn't let them go they told me that my icici savings account has been debit freezed so they are unable to process the loan.
The bank gave me reason that my kyc is not done but it is a false statement as i have updated everything only a couple of months ago with all the proofs by visiting their branch and i also have received the text messages from the bank regarding the same.
I really feel now that it was a ploy from them to trick me into taking a policy and they freezed my account just to give themselves safe cover.

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Feb 22, 2018

Complaint marked as Resolved

ICICI Bank customer support has been notified about the posted complaint.

Verified Support

Jan 22, 2018

ICICI Bank Customer Care's response Dear NNNMohammed,

We regret any inconvenience caused. Our official will get in touch with you. We appreciate your patience.

Regards,
ICICI Bank Customer Service Team

Jan 30, 2018

Updated by NNNMohammed On 22 Jan ICICI Bank viewed my complaint and released their statement that they regret the inconvenience caused to me and their official would get in touch with me to resolve the issue at the earliest. But now its already 31 Jan and they are still yet to contact me.
I can't seem to understand why they are showing such reluctance in resolving the issue. Is it because that they are taking this Online Complaint Forum very lightly that they can show such boldness by just turning a Blind eye to my issue.
If this is the real scenario then the Forum should really stop giving false hopes to Victims and should instead guide them how to approach the Consumer Court and how to raise their grievances by giving proper guidelines.

Mar 04, 2018

Updated by NNNMohammed The complaint has been updated as RESOLVED but the Complainant is yet to be aware of it.
ICICI Credit Card Department offers me a Loan. Thus they TRICK me into taking a POLICY.
When I enquire about the Loan they in collaboration with ICICI Bank DEBIT-FREEZE my Savings account and cites the above reason for being unable to process the Loan.
When I approach the bank they gave me the reason that I have not completed my KYC but truth is that I did complete my KYC very recently.
And now finally when I raise the complaint in the Consumer Portal, the ICICI Bank silently removes the DEBIT-FREEZE from my account without informing me just the same way they did when they DEBIT-FREEZED my account.They have not even admitted their mistake.
This is just the same way as a Pick-pocket steals a wallet and returns it after getting caught and then claim to the world that everything is resolved.

Apr 13, 2018

Updated by NNNMohammed No action from the Guilty side and yet the issue has been marked as resolved. I can't seem to find the reason why my approval is not needed as necessary for the complaint to be marked as Resolved.