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We regret the problem caused to you. Please send us your contact details at care@icicibank.com and we shall get in touch with you soon. Kindly refer '2918202' in the subject line.

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ICICI Bank Customer Service Team

My Home Loan is with ING VYSYA bank i had taken it on Last year March ' 2011
On the day of 17 Apr 2012 RBI has announced as no Prepayment penalty charges for floating intrest rate on Home Loan irrespective of source
(i.e) Borrower can prepay the Loan by switching over to another bank for getting the benefits of cheaper rate of Intrest
But INGVYSYA is strictly opposing as switching over to another bank 3% ROI needs to be paid.
But from own source we can prepay without penalty this is the rule RBI asked to follow for ING VYSYA,
Is it true?
RBI has banned banks from levying penalty on home loans taken on a floating interest rate
In its Monetary Policy 2012-13
or
only for own source prepayment penalty charges will be got waiver
Kindly take immediate action on these ING VYSYA and save the poor Home Loan

Hi there

I want to close my floating home loan from Deutsche Bank but they are asking for 2% penalty whereas RBI has clearly asked banks not to change penalty. The bank is making accuses as "they have NOT recd the circular". See below their reply.

"Foreclosure charges related:

We wish to inform you that prepayment charges are applicable to all home loans as per the schedule of charges and hence applicable to your home loan account.

We are awaiting the circular from RBI with regards to removal of foreclosure charges on floating rate home loans. Till issuance of circular by RBI, we regret we are unable to waive off the prepayment charges".

Pls. help. Thanks.

Hi,

I borrowed home loan from Deutsche bank @ in interest rate of 8.25% (6.75 base rate + 1.5% margin). They mentioned that the only floating component will be the base rate which will change according to RBI guidelines. But suddenly they changed the margin also. My current margine is 2.25% and total interest rate is 12%. When I asked to change my home loan, they are asking for 2% penalty charges. I inform them about the RBI circular but DB customer care is saying that they did not receive any such circular. What can be done in this case. Please help.

I wish to foreclose my mortagage home loan account with HSBC through take from another bank.
HSBC is charging me 4% prepayement penalty . As per RBI prepayment should not be charged. Whereas HSBC customer care says that it is not mandatory rule ?


Is this true and if yes then why can't RBI mandate all banks instead of mandating to HFCs. why RBI donot treat difference of home loan tax rebates if we take home loan from nonHFC banks and give different benefits.

This is not consistent policies. All banks should follow same rule.

Originally Posted by Home Loan Borrower

My Home Loan is with ING VYSYA bank i had taken it on Last year March ' 2011
On the day of 17 Apr 2012 RBI has announced as no Prepayment penalty charges for floating intrest rate on Home Loan irrespective of source
(i.e) Borrower can prepay the Loan by switching over to another bank for getting the benefits of cheaper rate of Intrest
But INGVYSYA is strictly opposing as switching over to another bank 3% ROI needs to be paid.
But from own source we can prepay without penalty this is the rule RBI asked to follow for ING VYSYA,
Is it true?
RBI has banned banks from levying penalty on home loans taken on a floating interest rate
In its Monetary Policy 2012-13
or
only for own source prepayment penalty charges will be got waiver
Kindly take immediate action on these ING VYSYA and save the poor Home Loan

Mine is also the same case. ING Vysya is not ready to waive penalty charges, even though i have awailed home loan at floating rate of interest.

Should i file a complaint in consumer forum court? Please guide me

HBSC received my complaint from consumer court and they spoke to me on phone and asked to forward the circulars from RBI about the waiver.
I sent them all RBI circulars and after going through them HSBC says that foreclose charge ban applies to home loan and not to Loan against property . Whereas the process followed for loan against mortgage is same -they mortgage my property and earn hefty interest I paid around 12 laksh within 1 and half years . In fact interest rate is higher for loan against property . It was 12% when it was sanctioned one and half year ago and now 16% hence I want to switch.

This is ridiculous now.

Why there is discrimination between home loan and Loan against home property . Can RBI clarify this ? There should be uniformity in the directives for loans. Loan is atleast money lend by bank no matter it is for any purpose and customer pays interest to bank . So why there is discrimation for home loan and other types of loans.

May I request consumer court to get me this answer from RBI .

I HAVE A LOAN AGNIAINTS PROPERTY15% RATE OF INTREST IN PNB HOUSING FINANCE LTD. I HAVE DEPOSITE 20%OF OUTSTANDING IN PART PRE PAYMENT BUT PNBHFL CHARGES 3% ALL BANKS PART PRE PAYMENT IS NIIL. what to do please help.......

I HAVE A LOAN AGNIAINTS PROPERTY15% RATE OF INTREST IN PNB HOUSING FINANCE LTD. I HAVE DEPOSITE 20%OF OUTSTANDING IN PART PRE PAYMENT BUT PNBHFL CHARGES 3% ALL BANKS PART PRE PAYMENT IS NIIL. what to do please help.......

Greetings !!!!!!

Hi,

We are Financial Legal Advisors, have been located in Chennai. We render Financial Services to our clients regarding,

· CIBIL Report Obtaining
· CIBIL Report Clarification / Rectification
· Bank Bebt Re-Consolidation
· Bank Legal Problems
· Liaison for one time settlement with bank
· Deal with NPA
· Handle DRT Cases


Contact details:

· Contact Person :Miss. P. Saranya (MA.,BL)
· Office name : INNOVISION SERVISES
· Contact number : 044-2031487, Mobile:9380167894
· E-mail: attorney.innovision@ gmail.com

NOTE:

We do not work for CIBIL or any government body; we are private organization having legal advisors to tackle issues& secure proper remedy.

Greetings !!!!!!

Hi,

We are Financial Legal Advisors, have been located in Chennai. We render Financial Services to our clients regarding,

· CIBIL Report Obtaining
· CIBIL Report Clarification / Rectification
· Bank Bebt Re-Consolidation
· Bank Legal Problems
· Liaison for one time settlement with bank
· Deal with NPA
· Handle DRT Cases


Contact details:

· Contact Person :Miss. P. Saranya (MA.,BL)
· Office name : INNOVISION SERVISES
· Contact number : 044-2031487, Mobile:9380167894
· E-mail: attorney.innovision@ gmail.com

NOTE:

We do not work for CIBIL or any government body; we are private organization having legal advisors to tackle issues& secure proper remedy.

Greetings !!!!!!

Hi,

We are Financial Legal Advisors, have been located in Chennai. We render Financial Services to our clients regarding,


• CIBIL Report Obtaining
• CIBIL Report Clarification / Rectification
• Bank Bebt Re-Consolidation
• Bank Legal Problems
• Liaison for one time settlement with bank
• Deal with NPA
• Handle DRT Cases


Contact details:


• Contact Person :Miss. P. Saranya (MA.,BL)
• Office name : INNOVISION SERVISES
• Contact number : 044-2031487, Mobile:9380167894
• E-mail: attorney.innovision@ gmail.com


NOTE:


We do not work for CIBIL or any government body; we are private organization having legal advisors to tackle issues& secure proper remedy.

Greetings !!!!!!

Hi,

We are Financial Legal Advisors, have been located in Chennai. We render Financial Services to our clients regarding,

· CIBIL Report Obtaining
· CIBIL Report Clarification / Rectification
· Bank Bebt Re-Consolidation
· Bank Legal Problems
· Liaison for one time settlement with bank
· Deal with NPA
· Handle DRT Cases


Contact details:

· Contact Person :Miss. P. Saranya (MA.,BL)
· Office name : INNOVISION SERVISES
· Contact number : 044-2031487, Mobile:9380167894
· E-mail: attorney.innovision@ gmail.com

NOTE:

We do not work for CIBIL or any government body; we are private organization having legal advisors to tackle issues& secure proper remedy.

Greetings !!!!!!

Hi,

We are Financial Legal Advisors, have been located in Chennai. We render Financial Services to our clients regarding,


• CIBIL Report Obtaining
• CIBIL Report Clarification / Rectification
• Bank Bebt Re-Consolidation
• Bank Legal Problems
• Liaison for one time settlement with bank
• Deal with NPA
• Handle DRT Cases


Contact details:


• Contact Person :Miss. P. Saranya (MA.,BL)
• Office name : INNOVISION SERVISES
• Contact number : 044-2031487, Mobile:9380167894
• E-mail: attorney.innovision@ gmail.com


NOTE:


We do not work for CIBIL or any government body; we are private organization having legal advisors to tackle issues& secure proper remedy.