Respected Sir,

My name is Jayalakshmi, I have taken home loan from ICICI bank in June 2006, at the time of loan disbuestment my loan ROI was 9%, later it went upto a maximum of 12.5
Actually when I have taken this loan the loan amount was 2,278,068/- and now the tenure has extended to 500 months. After paying 54 EMI (Approx 12,24,000/-) I still have to pay EMI for another 25 more yrs. This is really killing me.
I've paid so far 12,24,528 and i still have an outstanding of 21,00,00/- app.

I did not receive any kind of help or response from the bank except asking me to pay the emi.
My life has become very miserable since the day i took the loan and i lost my job now and i think this EMI is not letting me to live.
After discussing all the possibilities with the collection dept manager in Bangalore, i decided to surrender the property to Bank. They had send me a notice now saying they will cease all my account and take some legal action. I dont know what i should do now. Why do they cease my account and what is that they want to take as legal action?
I would like to know what is the better solution for me and how should i handle the bank legally?

Appreciate your immediate reply please to address my issue.

Jayalakshmi
LOAN A\C no: LBBNG00001352177

The tenure of my icici bank home loan has increased every time there has been a rate hike - maybe 6 to 8 times after my availing loan in 2008.
The original tenure was 120 which has now become 153. My home loan account no is LBBNG00001730638.

My emi has been Rs. 60,687 since inception, which held even when the disbursement was only 8 lakhs out of a total amount of 54.9 L sanctioned i.e. amounts have been released on demand notes presentation by the builder over a period of over 2 years but this emi amount has been constant all through. The EMI has suddenly been hiked by over Rs 8000 effective July/August 2011 and no one in icici bank home loan department has a clue. I have exchanged over 30 emails on this subject with customer.care@icicibank.com and I have been assured reverts over 10 times - till date they have failed to explain.

Considering the tenure increase on every rate hike till date, I do not see any valid reason to hike the emi amount by Rs 8000 in one shot and this is a calculation error .

I wish to file damages against icici bank for the mental trauma they have subjected . Commonsense, why cant they roll back the emi amount to the original Rs 60,687 and then do their research and analysis which seems to be going nowhere.

Sudhakar

I have taken home loan from ICICI since from 2006 and i am regularly paying EMI. I had increased my EMI on phone from 29k to 40k in the month of june'11.

Due to financial problem i requested ICICI to reduce my EMI to 20k. The response from ICICI was that only option is to reduce EMI by paying part payment and accordingly EMI will be calculated without impacting tenure for which I was not aware of this clause..

I was shock to know this as I was able to reduce EMI without paying part payment earlier. Just think practically hos this is possible as if someone having financial problem how he will able to make part payment, probably he has to take personal loan to reduce EMI which is not right, so only option is to reduce EMI and here ICICI is asking to make part payment.

It’s a request to reduce EMI without paying any part payment which in-turn increase tenure.

nitinjd@gmail.com

I have taken home loan from ICICI since from 2006 and i am regularly paying EMI. I had increased my EMI on phone from 29k to 40k in the month of june'11.

Due to financial problem i requested ICICI to reduce my EMI to 20k. The response from ICICI was that only option is to reduce EMI by paying part payment and accordingly EMI will be calculated without impacting tenure for which I was not aware of this clause..

I was shock to know this as I was able to reduce EMI without paying part payment earlier. Just think practically hos this is possible as if someone having financial problem how he will able to make part payment, probably he has to take personal loan to reduce EMI which is not right, so only option is to reduce EMI and here ICICI is asking to make part payment.

It’s a request to reduce EMI without paying any part payment which in-turn increase tenure.

nitinjd@gmail.com

I am a 68 months old customer A/c No. LBKAN00001300824 .my sanction amount of loan was 854000/- but finally you are sanction 776000/- but after some days you are sanction 77000/- top up loan .i am not understand that why the loan was not in home loan category or income tax relaxation. I was taken loan in ICICI home loans or personal loan. I am paid appox. 55000/- rupees but my principal 1800/- only.
my request is why home loan treated as personal loan. my 68 instalment is regularly paid without any problem (even you are increases instalment 6450/- to 8600/-).I Understand your's problem but you are not understand me and possition.

pl. do some .................................................. ...............



arvind misra

Dear Consumer court/Ombudsman

I had taken a loan for Rs. 1250000 in 2003 @ interest of 7.5%. The interest rate charged by ICICI was unfair and it went over 13% at one time. The EMI went up from Rs. 9912 to nearly Rs. 14000.

I desparately tried to find measures and they suggested that I get "Conversion". I did that and paid nearly Rs. 25 000 to get the interest down to 9.75%. It has now again gone up to nearly 13%. So after nearly 8 years (close to 100 EMIs), my principal has not gone down even by 2 lac, when I have probably paid over 10 lac (a lot of it as interest).

I agree that Banks need to earn to survive and grow, but these are clearly unjust practices since the interest rates are raised roughly 2-3 times more than what they should.

I strongly request you to find a solution for me? Is the means of going the Ombudsman the best route for me?

What are the other avenues of getting justice?

Please help as this is really eating into my earnings, happiness, and peace.

Thanks
Jagadish
mjagadishster@gmail.com

Hi Jagdish,

We are sorry to hear about your experience. We have made a note of your email id. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Bank Customer Service Team