I had availed a homeloan from ICICI in 2005 for 20,00,000 on floating ROI of 7.25% and the sanctioned amount was 20,49,000. When I checked with the concerned officer he told me he has included the insurance part also in the homeloan. I have noticed that ICICI will immediately increase the interest rate even when there is a rumor that there could be a possibility in increase of interest, but they never reduce even when other banks do and even customers pleading for it.
As per latest scheme (till 30 Apr 09) you pay a conversion fee of 1.75% (diff slabs for less than 20L)+ service tax and they will reduce the interest rate to 10.5% from current 12.75%, not sure for how long it will sustain as i am on floating. Which means they will collect Rs.28,000 + RS100 stamp paper from me and my interest rate will reduce to 10%, and in couple of months they might even increase it.
Above all, a email is sent to someone for approver, and then this GOD will decide if you are eligible for this scheme.
If You go to the bank, you see all blank faces, and clearly a big question mark on their faces why the hell am I working with this bank.
Where do we all go ? What can be done and Why are they doing this always

Dear Sir,

I have taken a home loan of Rs 12 Lakhs from ICICI Bank in 2004 (Loan Account No:
LBMNG00000662829). Recently under an offer, I was told that my interest rate would
be reduced to 9.75%. However, in spite of submitting all necessary documents along
with a Stamp paper on Mar 11 to ICICI home loan office, no action has been taken.
After 2-3 weeks, ICICI came back saying my loan is a securitized case (no one knows
what this is) and different procedures need to be followed. I have not heard
anything after this and my interest rate still remains at 13%. I tried calling the
customer care and they refused to take the complaint saying their system is down.
However, i have email conversations with ICICI staff if that can be of any help.

I request your intervention/help in getting interest rate reduced. Its really
painful/distubing to keep paying an extra 3-3.5%. Kindly help.

thanks,
Ravi

Ravi ,

What is the resolution so far ? whats new roi now .

Ajit