Same problem with me. I am crushing my self because of ICICI intrest rates
I took the loan in 2007 with a Floating rate of 12% and it went up to 13.5%. Now it came down to 12%.

I saw all other banks reduced their floating rates as per RBI rates but not ICICI. I approached my local branch and they are saying to enroll in a scheme by paying 1 percent of my laon and another 1% of my loan amount as early fees. They are asking me to pay the early fees for five years sothat they can bring down the Intreat rate down to 8%. After 2 years it is going to be again floating rate as per the market rate? They also gave me the last date as Feb 14 2010 to enroll in this scheme.

Please help me what should I do to bring down my intrest rates without paying?
Where should I complaint on ICICI to get better service?
I want them to charge me as per the RBI rates since 2007( Like they never decrease my rates as per the RBI but they stand first while increasing)

Here is my loan account# LBWNL00001527731

Thanks
Venkat

Same problem with me. I am crushing my self because of ICICI intrest rates
I took the loan in 2007 with a Floating rate of 12% and it went up to 13.5%. Now it came down to 12%.

I saw all other banks reduced their floating rates as per RBI rates but not ICICI. I approached my local branch and they are saying to enroll in a scheme by paying 1 percent of my laon and another 1% of my loan amount as early fees. They are asking me to pay the early fees for five years sothat they can bring down the Intreat rate down to 8%. After 2 years it is going to be again floating rate as per the market rate? They also gave me the last date as Feb 14 2010 to enroll in this scheme.

Please help me what should I do to bring down my intrest rates without paying?
Where should I complaint on ICICI to get better service?
I want them to charge me as per the RBI rates since 2007( Like they never decrease my rates as per the RBI but they stand first while increasing)

Here is my loan account# LBWNL00001527731
email Id offervenkat@yahoo.com

Thanks
Venkat

Hi,

I am also facing the same problem as many people. I have taken home loan in 2007 and it reached to around 13%. In fact I have already given them 1% in between to reduce my interest rate. My interest rate is still 10% and when I went to bank they asked me to give 0.5% to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Does the marketing department of ICICI including their service department listening to inconvenicence and distress I have got.

Nitin Hodawadekar
9820833424
Loan No - LBMUM00001480510

Hi,

I am also facing the same problem as many people. I have taken home loan in 2007 and it reached to around 13%. In fact I have already given them 1% in between to reduce my interest rate. My interest rate is still 10 % and when I went to bank they asked me to give 0.5% to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Does the marketing department of ICICI including their service department listening to inconvenicence and distress I have got.

Nitin Hodawadekar
9820833424
Loan No - LBMUM00001480510

Dear Nitin,

We regret the inconvenience caused.
We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.

Originally Posted by nhodawadekar

Hi,

I am also facing the same problem as many people. I have taken home loan in 2007 and it reached to around 13%. In fact I have already given them 1% in between to reduce my interest rate. My interest rate is still 10 % and when I went to bank they asked me to give 0.5% to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Does the marketing department of ICICI including their service department listening to inconvenicence and distress I have got.

Nitin Hodawadekar
9820833424
Loan No - LBMUM00001480510

BHAVESH MAKWANA

This is with reference to the above subject
I had Visited ICICI Home Loan Department in Borivali(W) from the customer service representative.

I went to the Borivali(W) branch around a 15DAYS back to enquire about how to convert the existing home loan to the new rates i met with customer service representative but she gave me different details on the schemes available for conversion

I had taken Home Loan in 2007 and my current rate is 12.75% floating, my FRR/PLR is 0.75%,so effective rate is 12%.

During my first visit , I asked the customer service representative on the process for conversion and she told me that I will have to pay 1.75%+service tax to convert my old home loan to new rates of 8.75%. I told her that this is not fair and there should be something for the existing home loans customers to convert their old rates to new ones without any charges.

She first made some faces and then told me that she can give me 8.25% fixed for 2 years and floating rate thereafter with no conversion charges if I make an Investment of INR 50,000/- per year in ICICI Purdential's Retirement Plan with no entry and exit loads.She was very keen to sell the Investment Plan and was not bothered to listen to my problem. I told her I cannot make the investment, so she told me that I will have to pay the conversion charges.

I do not understand why ICICI Bank wants to penalize all its old customer's with such conditions and lack of transparency, why does the bank want to charge any conversion rates for customers who wish to increase their variance, why is ICICI Bank asking its representatives to sell ICICI Prudential Products to convert old home loan rates to new.

Such behavior from customer service representative of such a reputed bank baffles me completely.

I have the below requests to ICICI Bank:
1.Convert my existing Home Loan to New Home Loan rates and give me a Variance of 4% fixed for the entire tenure.
2.This conversion should be done without charging any fees.
3.I should not be asked to invest in any ICICI Prudential Plan.

I request for an early resolution to my problems.

My Contact Detail
BHAVESH MAKWANA
MY LOAN ACCOUNT NO:LBMUM00001412966
9892086326 (M)

Hi,

I have taken home loan in 2008 and it reached to around 12.5%. when I contacted bank they asked me to give 0.5% to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Does the marketing department of ICICI including their service department listening to inconvenicence and distress I have got.


Thanks,
PH : 9247375414
My Loan Account# LBGTR00001609199

Hi,

Today I had called to ICICI bank customer care to increase my EMI from 14000 to 17000 of my housing loan A/C LBFDB00001346309.Now new drama came in picture that you have to go our branch with some document i.e 2 months salary slip and photo id proof.They will decide that you can increase your EMI or not.

Seroiusly ICICI bank(worst bank) want to harass the customer as possible as they can.I do not know why they do not want to increase the EMI as customer want to decrease his burden.Why RBI is not going to strict on these type of bank.

Thanks
Amar Ujala
9810155531

Hi,

I am very upset with ICICI Bank. I have taken home loan in 2006 and it reached to around 13.5%. My interest rate is still 12% and when I went to bank they asked me to give 1% switch charges and investment around 60,000 for 5 years to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Now I will go Electronic Media also so that they can highlight the blackmailing.4 years experience with ICICI Bank is enough to give the mental harassment.


Amar Ujala
9810155531
amarujala77@rediffmail.com
Loan No - LBFDB00001346309

I have taken home Loan from ICICI Bank .They sanctioned the loan on 15/12/06 at 9% They disbursed the loan on 18/01/2007 at 9.5% though it was sanctioned at 9% . We were informed that since it is floating rate interest rate will decreased even below the sanctioned interest rate.
However ICICI Bank kept on increasing interest rate heavily in 9 months to 13% by September 2007 in a gap of 2 to 3 months .They are charging High interest rate as well the amount toward principal deduction is very less. As the amount of deduction of Principal is less, ICICI Bank is earning money by charging us interest on the remaining amount which is very higher because of less amount of deduction towards Principal and also increasing the tenure period of repayment loan.
ICICI bank is imposing high interest rate on other hand asking their customer to adopt their scheme by paying conversion fee to reduce the interest rate which is also not guaranteed.
ICICI Bank is offering home loan around 8% to new customers but those who are existing customers ICICI bank is taking advantage of them by recovering high interest rate
ICICI bank decides PLR by themselves to be applied for existing customer which is different from RBI PLR.
I am salaried person and my EMI payment is through my salary .I am facing heavy Financial burden .I do not have any other source of income
I have sent many Emails to ICICI customer care and as well to Deputy General Manager but I have not received any satisfactory reply
Kindly take necessary action from your end to save us from heavy financial burden of high interest rate from ICICI

Regards,
Sanjay Jadhav
Cell no-9324602492
Loan Account No-LBPUN00001446335.
Email-sanjay.kjadhav@gmail.com

Dear Amar,

We are the customer service team at ICICI Bank and are sorry to hear about your experience. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.

Originally Posted by Unregistered

Hi,

I am very upset with ICICI Bank. I have taken home loan in 2006 and it reached to around 13.5%. My interest rate is still 12% and when I went to bank they asked me to give 1% switch charges and investment around 60,000 for 5 years to reduce the interest rate to 8.25%. I am also planning to file a formal complaint. Can anyone please help me.

Now I will go Electronic Media also so that they can highlight the blackmailing.4 years experience with ICICI Bank is enough to give the mental harassment.


Amar Ujala
9810155531
amarujala77@rediffmail.com
Loan No - LBFDB00001346309

Dear Sanjay,

We are sorry to hear about your experience.
We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.

Originally Posted by sanjayjadhav

I have taken home Loan from ICICI Bank .They sanctioned the loan on 15/12/06 at 9% They disbursed the loan on 18/01/2007 at 9.5% though it was sanctioned at 9% . We were informed that since it is floating rate interest rate will decreased even below the sanctioned interest rate.
However ICICI Bank kept on increasing interest rate heavily in 9 months to 13% by September 2007 in a gap of 2 to 3 months .They are charging High interest rate as well the amount toward principal deduction is very less. As the amount of deduction of Principal is less, ICICI Bank is earning money by charging us interest on the remaining amount which is very higher because of less amount of deduction towards Principal and also increasing the tenure period of repayment loan.
ICICI bank is imposing high interest rate on other hand asking their customer to adopt their scheme by paying conversion fee to reduce the interest rate which is also not guaranteed.
ICICI Bank is offering home loan around 8% to new customers but those who are existing customers ICICI bank is taking advantage of them by recovering high interest rate
ICICI bank decides PLR by themselves to be applied for existing customer which is different from RBI PLR.
I am salaried person and my EMI payment is through my salary .I am facing heavy Financial burden .I do not have any other source of income
I have sent many Emails to ICICI customer care and as well to Deputy General Manager but I have not received any satisfactory reply
Kindly take necessary action from your end to save us from heavy financial burden of high interest rate from ICICI

Regards,
Sanjay Jadhav
Cell no-9324602492
Loan Account No-LBPUN00001446335.
Email-sanjay.kjadhav@gmail.com

Hi,

My name is Gunjan Agrawal, I have taken a home loan in ICICI Bank, at the time of loan disbursment my ROI is 9.5, later it went upto a maximum of 13.5% and at present is @ 12.5%.

I dont understand what is the meaning of floating ROI, when the banks are not decreasing the ROI for all the exisisting customers, why are they showing the difference between New and old customers?

THe difference between my ROI & FRR/PLR is 1.25% so my current ROI is @ 11.5%

is that not unfair to charge 2.25% for an existing customer to change from 11.5% to 8.25% within the same bank. this is a kind of cheating that ICICI is doing.

My Loan A/c is LBMUM00001325684

Is there any way i can file a compliant on ICICI for asking me a 2.25% charges for changing my floating ROI from 11.5% to 8.25%

I have taken loan in 2006 for 20 Years. But Now My loan tenure increased from 20 years to 30 years and EMI is also increased.

Somebody can guide me to save myself from ICICI.

Gunjan Agrawal
gunjanagrawal78@hotmail.com
09892644396

I had a Home loan - Application number# LBFDB00001477922 which was under following terms and condition

Intrest type : Floating
Tenure : 240 months
FRR - 9.5%
Variance - 1.25 %
Loan Amount - 1370120
Date of commencement of EMI - 10/02/2007
Due Date of Payment of First EMI - 10/03/2007

Since it was a floating rate of intrest , the rate of intrested was increased when the home loan rate was increased , and the installement amount was changed.
Looking at the loan details now , it also has tenure increased to 327 months as well as a increase in the installment amount.

I had a discussion with customer care executive and i am not satisfied with the response given to me

Following was the summary of my accounts and rate of intrest that was charged:

Date/Time Period ROI Variation from last month Original Variation
March 07 9.50% 0 0
April 07 10.50% 1% 1%
May-07 11.50% 1% 2%
Jul-08 12.25% 0.75% 2.75%
Sep -08 13.00% 0.75% 3.50%
Jan-09 12.50% -0.5 3%
May-09 12.00% -0.5 2.50%
Jul-09 11.50% -0.5 2%

New rate which is being offered to new customer is 8.25% which is quite less than what i am paying and when i talked to customer care , they are saying because my variance is 1.25% and hence this was the maximum rate which could have been reduced for me, which I dont understand as the rate hasnt gone down suddenly from 13% to 8.25% , it has gradually gone down with the market condition so the rate of intrest should also have reduced as per that
.
They are asking me a switch over fees of 7600 which is what i cant understand as why i have to pay that .If you look at original Variation column , then it has grown up to a factor of +3.5% from the rate i signed my contract , then why is there a delay while reducing it to the correct rate of percantange.

I am looking for some co-operative actions from ICICI managment group to look into this.


Thanks in Advance,

Regards
Gaurav Arora
09953147829

Can anyone help me in how to handle below.
has ICICI reduced the rate for any of the person who faced this issue , or should we file an official complaint.

I had a Home loan - Application number# LBFDB00001477922 which was under following terms and condition

Intrest type : Floating
Tenure : 240 months
FRR - 9.5%
Variance - 1.25 %
Loan Amount - 1370120
Date of commencement of EMI - 10/02/2007
Due Date of Payment of First EMI - 10/03/2007

Since it was a floating rate of intrest , the rate of intrested was increased when the home loan rate was increased , and the installement amount was changed.
Looking at the loan details now , it also has tenure increased to 327 months as well as a increase in the installment amount.

I had a discussion with customer care executive and i am not satisfied with the response given to me

Following was the summary of my accounts and rate of intrest that was charged:

Date/Time Period ROI Variation from last month Original Variation
March 07 9.50% 0 0
April 07 10.50% 1% 1%
May-07 11.50% 1% 2%
Jul-08 12.25% 0.75% 2.75%
Sep -08 13.00% 0.75% 3.50%
Jan-09 12.50% -0.5 3%
May-09 12.00% -0.5 2.50%
Jul-09 11.50% -0.5 2%

New rate which is being offered to new customer is 8.25% which is quite less than what i am paying and when i talked to customer care , they are saying because my variance is 1.25% and hence this was the maximum rate which could have been reduced for me, which I dont understand as the rate hasnt gone down suddenly from 13% to 8.25% , it has gradually gone down with the market condition so the rate of intrest should also have reduced as per that
.
They are asking me a switch over fees of 7600 which is what i cant understand as why i have to pay that .If you look at original Variation column , then it has grown up to a factor of +3.5% from the rate i signed my contract , then why is there a delay while reducing it to the correct rate of percantange.

I am looking for some co-operative actions from ICICI managment group to look into this.


Thanks in Advance,

Regards
Gaurav Arora
09953147829