Dear Vinod,

We are sorry for the problem caused to you. We have made a note of your home loan account number and shall get in touch with you soon to resolve the matter.

Regards,
ICICI Bank Customer Service Team.

Hello,
I had reply from ICICI bank on 14th saying that they will reply by 28th Jan. I am still waiting for that.
The most ironic part is that today the newspapers are saying that the interest rates have increased last day and have reached double digits now. That means ICICI bank has been charging me this 13.25%, while the normal interest rates were in single digits.
Look at the way this bank was exracting money from its existing customers, blatantly ignoring RBI's circular.

Regards
Vinod

My Loan Accoutn # LBMUM 0000 1450861
Phone # 9974009630
ICICI has increased rate of interest to 13.25% when current market rate is between 9.5-9.75%. This is astronomically high and insane. Does it meet RBI guidelines. This is sheer cheating. I can't believe how can ICICI Bank do this.

I send several emails to ICICI in this regard but they never responsd.

Can this loan be refinaced? I will put a complain at RBI Ombudsman if I don't hear back in next few days.

just transfer your loan account to some PSU.. it will work 4 u....

Dear Sir,

I also have similar problem with ICICI. I completely agree. At the start I also took Loan at 8.5% in 2006 from them. It is hovering at 13.75% for me in 2011. ICICI has a habit of increasing the loan for their existing without even bothering to inform them. They just increase the tenure of your repayment which doesn't affect your monthly EMI schedule. Until or unless, customer is not looking at the monthly statement every month, he will not come to know. I realized this when, I saw my e-statement after 3 months and though me balance tenure would be close to 18.5 years. It was a shock, when it showed me that I have 35 more years to repay my existing loan with them.

ICICI bank lure the new customers with attractive rates of 8-9% and within two- 6 months, customer realises that this is trap which is just siphoning his/her hard earned money. They don't even encourage part payments to be made to their loan. Even if you do part payment, they will first take time to process your request( which can take upto 3 months to reflect) and moreover, they will increase the rate of interest to your loan. Their customer care is horrible and inefficient ( they don't have even tracking system of conversations, seems like). Every time, you have to narrated your story to new boy/girl sitting in either hyederabad/mumbai.

No wonder they are top #1 private banks of India while taking money from honest Indian citizens.

Can anyone address this properly, why existing customers of ICICI gets treated like this nobody. RBI must direct them to show flexibility to exisiting customers of ICICI.

Due regards,
Harrassed ICICI customer

Hello Admin,
I took a home loan from HDFC bank in 2008 May and at that point of time the interest rate was 9.75%. From date of loan to today bank increased interest rate a lot of time. All these times HDFC bank was giving home loans to new customers at cheapers rates from 9.25 to 10% .
After coorinating the bank for same problem, they told about the RPLR based game based on which they charge us. as per them, RPLR (-)basis points which was agreed at the time of loan.
they asked to pay the half of differece between market rate and my interest rate to get it at market rate. i paid Rs 6000 to come at prevailing market interest rate in Jun 2009.
Again bank is charging me 11.5% interest rate. when i contacted HDFC ltd branch, they told again the same story and asked to pay the processing charges which is almost Rs 9000 to get it on 9.75%.
basically this is way of cheating to customer where at the time of loan, they offer equal to PSU banks to trap the customer and then in name of RPLR suck the customer.
if you want to transfer your loan account to another bank or want to repay more than 25%, charge 2% on principle amount. this is itself a cheating to customer. i don't know how to complain in RBI for stopping these cheating practice by bank.

Kindly help me resolve this issue with HDFC bank. I am sure a lot of customers are facing this issue from this Bank. If you think my case can be pursued, I will post further details as per your requirements.

Loan A/c no. 236303167

Thanks and regards
M Goyal

Hi,

Approach consumer court directly, as Banking Ombudsman is handicapped in getting complaince of his own judgement and he is in the pocket of ICICI Bank. He advised me to appraoch court when he himself could have told ICICI Bank to follow his orders.

I recently approached him for justice but it seems that he and few members of his staff are getting fed money by ICICI Bank.

Directly approach court. Don't waste time with BO, RBI

I can give you my judgement for reference to be given in court.

Gopal Gora

I'm also the another victim of HDFC home loan taken at OCt 2006 @ 9.25%. Within three months they increased the ROI to 9.75 and to 11.00 in another three months. In the similar process it went upto 13.00%. Whenever I approach bank on this they used to say the same story of RPLR has increased, but continue to give less ROI for new customers. Three months back they have asked me to pay 2% of the existing loan amount around Rs 48000 to reset my ROI. I have paid that too. They have reset my ROI at 10.5 for three months. Again now they have increased it to 11.00%. HDFC bank is merely cheating the customers.

I like to file a case regarding this. If anyone has more idea and like to join me in this, please conatact me @ 9845719673.

Loab Number: 361416174

Regards,
Jayakumar Perambalam

Originally Posted by Unregistered

Hello Admin,
I took a home loan from HDFC bank in 2008 May and at that point of time the interest rate was 9.75%. From date of loan to today bank increased interest rate a lot of time. All these times HDFC bank was giving home loans to new customers at cheapers rates from 9.25 to 10% .
After coorinating the bank for same problem, they told about the RPLR based game based on which they charge us. as per them, RPLR (-)basis points which was agreed at the time of loan.
they asked to pay the half of differece between market rate and my interest rate to get it at market rate. i paid Rs 6000 to come at prevailing market interest rate in Jun 2009.
Again bank is charging me 11.5% interest rate. when i contacted HDFC ltd branch, they told again the same story and asked to pay the processing charges which is almost Rs 9000 to get it on 9.75%.
basically this is way of cheating to customer where at the time of loan, they offer equal to PSU banks to trap the customer and then in name of RPLR suck the customer.
if you want to transfer your loan account to another bank or want to repay more than 25%, charge 2% on principle amount. this is itself a cheating to customer. i don't know how to complain in RBI for stopping these cheating practice by bank.

Kindly help me resolve this issue with HDFC bank. I am sure a lot of customers are facing this issue from this Bank. If you think my case can be pursued, I will post further details as per your requirements.

Loan A/c no. 236303167

Thanks and regards
M Goyal

I'm also the another victim of HDFC home loan taken at OCt 2006 @ 9.25%. Within three months they increased the ROI to 9.75 and to 11.00 in another three months. In the similar process it went upto 13.00%. Whenever I approach bank on this they used to say the same story of RPLR has increased, but continue to give less ROI for new customers. Three months back they have asked me to pay 2% of the existing loan amount around Rs 48000 to reset my ROI. I have paid that too. They have reset my ROI at 10.5 for three months. Again now they have increased it to 11.00%. HDFC bank is merely cheating the customers.I like to file a case regarding this. If anyone has more idea and like to join me in this, please conatact me @ 9845719673.Loab Number: 361416174 Regards,Jayakumar Perambalam