Hi

I took a home loan from ICICI and at a rate of 9.5% in Oct 2006. Within four months it went to double digit and from there on it went till 13%. Right now i am paying Interest at a rate of 13%. I dont think any other bank is charging at this interest rate. Today i heard that it is again raising its interest rates. Oh my god, now i am realising that i have been trapped and i cant get out of this. The only question always bothers me is that, Why there is a huge difference of Interest rates between new and existing customers. For new customers it is 8.5% and for existing custiomers it is 13.5%. You see that there is a difference of 5% which is a huge difference. I understand that they have good service, but that doesnt mean that they can set any rate on thier wish and that too varying for new and old customers, This lost my faith on ICICI. I know that ICICI will not going to look into this, but information is an asset and it can influence many decisions within no time and really i want to share this information to everybody.

Regards
Vijay