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,
rgdubey