This is a discussion on High Interst rate for existng Home loan customers - ICICI Bank within the Home Loan forums, part of the Loan category; Hi, I took a home loan from ICICI Bank @ 9%, but immediate after one month its revised to 11% ...
Junior Member
High Interst rate for existng Home loan customers - ICICI Bank Hi,
I took a home loan from ICICI Bank @ 9%, but immediate after one month its revised to 11% and now its 12.5%
RBI has introduced the Base Rate, but still the ICICI bank has not changed the interest rate for the existing customers, but for the new customers they offer this... When I speak to the concerned, they ask me to pay the conversion to switch over...
Since the loan has taken 4 years back, my principal is almost the same... This is really disappointing and hard-earned money is utilitised by the Bank for no cause...
Seek the advise from Consumer Court to proceed further...
Regards,
Dhanasekaran.S
Senior Member
Hi,
We are sorry for the problem caused to you. Please assist us with your contact details at care@icicibank.com and we shall get in touch with you soon to resolve the issue. Kindly refer "1023867" in the subject line.
Regards,
ICICI Bank Customer Service Team.
Junior Member
Hi,
I spoke to your customer service people and they said the scheme of conversion from FRR to IBase is not available now... They are waiting for the update from top management...The scheme announed for December is closed now... I am surprised to hear the response from them, saying the Ibase rate is keep fluctuating every month.
Junior Member
Hi...
I got a call today from Customer Service. They said two options:
1) There will be a switching over charges 0.5% to convert the current rate of interest @12.5% to 10%. But it will be again in FRR only...
2) The existing loans under FRR scheme can be switched over to I-base without any charges (after I explained abt RBI notification), but they said there will not be any change in the interest rate i.e, 12.5% will remain same. They confirm that Ibase rate for the new customer will be around 8.25% but for the existing customers will be 12.5%. This is total deviation from the RBI concept....
Dont know how to escalate this... Seek the support from the Consumer court for the clear clarity...
Senior Member
Hi,
We are sorry for the problem caused to you.Please send us your contact details at care@icicibank.com and we shall get in touch with you soon to resolve the matter. Kindly refer "1029859" in the subject line.
Regards,
ICICI Bank Customer Service Team.
Senior Member
dear consumer: if you r problem is not resolved do contact allied law inc: 09245201687
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