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.