Hi,

We are sorry to hear about your experience with ICICI Bank. Please send us your contact details at care@icicibank.com and we shall surely get in touch with you soon to resolve the matter. Kindly refer "971957" in the subject line.

Regards,
ICICI Bank Customer Service Team.

On this topic I had coplained to CCI (comptition commission of India). CCI finds nothing wrong in either practice as per investigation report copied to me. I however have a final chance to appear in front of commission on 27th Jan 11 for final hearing.
Prakash Bjapai - 9831505737 - Kolkata

Originally Posted by Pratap Reddy

My name is Pratap, I have taken a home loan in ICICI Bank, at the time of loan disbursement my ROI is 9%, later it went up to a maximum of 12.5% and at present is @ 11.56%.
I don't understand what is the meaning of floating ROI, when the banks are not decreasing the ROI for all the existing customers, why are they showing the difference between New and old customers?
Now the bank offers 9.5% as the rate of interest for new customers but charging too much high to the existing customers @11.56%. It's not fair to charge the conversion rate charges for the Existing customers to migrate to new rate of interest - this is fully cheating kind of ICICI Bank is doing.
My Loan A/c is LBHYD00001357520.
At time of Homeloan, ICICI bank imposes to the customers that the customers must have to take the Home Insurance policy from ICICI Bank itself, accordingly I have take the same for 5 years, Loan amount is 25 lac and Home Insurance charges were Rs.50,000/- for First 5 years. Unfortunately due to the recision I lost my job and applied the Claim for the Loss of Job...
Here the cheating began from ICICI Home insurance people, they don't respond properly after chasing them 3 months through Branch at Begumpet, Hyderabad and the concern People in Mumbai (the person name is some Singh), replied that the Claim has got rejected -- The ICICI Home insurance people said that when enquired where I lost my Job, they have updated us as I’m relieved from the Company.
Suddenly I was sock... The premium was paid by me even though ICICI Bank Home insurance people has tried to escape to pay the Claim- they simply update the above info.
Upon discussion with one of the ICICI Home loan department person - he suggested me to go for Home Moratorium, and paid the part payment of EMI and the rest treated as One year free interest for the rest of the EMI Amount. Then same documents submitted and ICICI HOME loan department sanctioned the Moratorium.
Why ICICI Home insurance people rejected the same - either they are not in a position to pay the Premium amount (or) they are careless about the Customer.. whatever they did either wrong also no body will not ask any thing.

Hi... Have you got any response from ICICI Bank?

Sir, i have rs 1750000 loan from ICICI bank at the then rate of 7.25% floating.
The first EMI was Rs 13832 with principle component as Rs 3259 and Interest component as Rs 10573 for tenure of 240 months.
Till date i have paid Rs 1313851 with principle component as Rs 96520 and Interest component as Rs 1217331.

The present balance is RS 1653480 as principle and surprisingly my EMI is Rs 19636 for a balance tenure of 458 months.
This seems to me as a gross cheating as the following is applicable to ICICI bank today.

A new walk in customer for home Loan of Rs 1653480 will pay EMI of Rs 16503 with Rs 2500 as principle component an Rs 14003 as interest component for tenure of 240 months.
I,old customer, am paying for balance Loan of Rs 1653480 will pay EMI of Rs 19636 with Rs 88 as principle component an Rs 19724 as interest component for tenure of 458 months.

I am a premium customer of the bank and the bank has no ethics to even call me once in last 6 years and inform the abnormality.

The new customers have a much better offer than the old ones in rate.
Also they don't give any relationship between the RBI rates and their FRR/PLR.
This means that the customers will always face this problem as the bank will keep increasing FRR/PLR on their own discretion.

regards
Sujit