Dear Mr. Bhanu,

Have you sent any complaint letter to the Head Office of the Bank, so far? If not, then pls. forward your complaint to the head office and if yes, then inform us soon for the same.

Sir / Madam,

Thanks for your prompt reply. So far I have not complained this to their head office, because all the branches I visited was informing me to call their customer executive only. The only letter which I had send was to their Head Customer Executive Mr. Avijit Saha, who then had rejected my plea.

Now as per your instructions I will write to the Head Office and will get back to you with the outcome.

Thanks

Beju Bhanu

Originally Posted by bejubhanu

Sir,

SUB : Prepaid Loan A/c. NO. 9401 2700 3972 8006

My name is Beju Bhanu, residing at 02 /B/ 003 Om CHS, Mhada Colony, Chandivali, Mumbai - 400072.

I had availed Cash-in Select: Personal Loan, from ICICI Bank in the month of February 2007 for an amount of Rs. 2, 00,000/-. In the first month statement the bank deducted an amount of Rs. 3900/- as processing fees and the respective services tax of Rs. 477.36/-. Thereafter I was regularly paying the EMI of approximately Rs. 6,500/- per month (varies according to their statements) till May 2009. In May 2009, since I received some additional funds I planned to pre-close my then remaining bank loan. I called up the bank’s representative and enquired how much amount I need to pre-close my loan account. The representative who attended my phone call gave me all the break-up i.e. the remaining principal amount of Rs. 1,07,819/- ; Rs. 3,237.57 being 3 % of preclosure fees; and Rs. 333.16/- being service tax on 10.5%, totaling Rs. 1,11,389.73/-

Accordingly, I deposited a cheque bearing number 10005775, dated 20/05/2009 for the sum of Rs. 1, 11,389.73 Ps. at their drop box mentioning the bifurcation of amount at the back side of the instrument. The cheque got cleared from my account on 25/05/2009. After this I was eagerly awaiting for the communication about the closure of my loan account from the bank. However, in the next month (June 2009) I received a statement stating that the balance is NIL to pay. I thought that this may be the final intimation. But again I received the statement in the month of July 2009 also showing the due amount as NIL and this continued to happen in the next month (August 2009) too. When again I received the statement in September 2009, I got suspicious and contacted their customer service executive. I came to know that ICICI has not closed my loan account, and they were deducting my EMI's from the preclosure amount they received from me. It is merely out of anybody’s imagination that no one will pay a huge amount to get the EMIs deducted every month for years together; especially in the account of personal loan.

After hearing from the executive I was mentally distracted and approached the bank near to my house at Chandivali. The security there informed me that all the loan procedures are taken care of by their office nearby. When I approached that branch, the lady, who carefully listened to me for 10 minutes and blankly told me that personal loan issues are not taken care of in her branch, and guided me to another branch in JB Nagar, Andheri. By that time, I had lost all my patience and was fully annoyed. I had taken a day off from my job to get this matter sorted out. So I immediately took an auto and went to their JB Nagar branch. There the situation was nothing less than worse. I had to stand in line to get through the concerned representative. However, when my turn came, he said that this issue is not being handled by them. I was totally tired and mentally disturbed by the way the bank was dealing. My heart was beating abnormally, as I thought that my hard earned money gone wasted. When I started yelling at the lady who was very rude in talking, their Manager who heard our conversations came and took me to a cabin and I explained all the issues. I asked him when a customer repaid the entire principal amount with premium for pre-closure amount, then where the question of deduction of EMI arises. After receiving the entire amount with premium for pre-closure, service taxes etc, why the bank is still deducting EMI and interest. What is the logic? He advised me that it is the bank’s procedure that the customer should first call their representative and ask to close my loan account. Then ask for the SR (Service Record Number). They will then send me a statement mentioning the preclosure amount and after paying that amount only the bank will close the account. This procedure was never informed to me earlier. When the Bank gives the condition for premium for payment of pre-closure amount, such procedure should also have been informed to the customer. As a customer with clean track record and as a law abiding citizen, I was looking forward to pay the loan amount ASAP and I did so. But, the bank seems to drag for another couple of months with their undisclosed procedures so as that they can levy and get more interests. However, the Manager asked me to be calm and follow the procedures and once they send me the new statement, he advised me to call up or write to the bank for waiving for the additional amount as I have already repaid the loan. Now as per his advice, after receiving the statement with a due amount of Rs. 8,862.86, I wrote to Mr. Avjit Saha (Head Customer Service), mentioning all the details. But the reply was negative stating that I have to pay the outstanding amount and all these procedures were updated to me when I availed the said loan.

Sir, for your information at the time of availing the loan the representative had taken my consent for availing this loan and also informed that if I pre-close the loan there will be a preclosure fee of 3 %, on the remaining principal amount, which I had duly abided and paid to them in the Month of May. They had never informed me the existing procedures. Also why should a customer pay such a huge loan amount to the bank in advance and deduct the EMI with interest every month? If the customer is charity-oriented like this, he would not have opted for a personal loan with huge interest.

Since all my sincere and honest efforts and approaches to the various authorities of the Bank failed miserably, I am left with no other alternative than to approach your good selves to seek justice. Hence I request your good self to direct the banks collection agents to refrain from messaging & calling me frequently for the alleged due amount which was due on the 23rd instant.

Even after paying all my dues the bank continues to harass me which has affected my health tremendously. I am under great mental torture and I fear this may lead to my losing the job, as I am unable to concentrate on my work and is physically and mentally depressed. Because of such mental torture, all my family members are also under tremendous pressure and totally we lost peace completely. If any such losses or damages caused to me or my family members, physically or mentally, the Bank should be held responsible for the same and I and my family members should be suitably compensated for creating unwanted and undisclosed procedure by the bank after receiving the entire amount.

Hope you will look into this matter seriously and give necessary directions to the Bank authorities to sort this matter at once and render justice.

Thanks



Beju Bhanu
Mob. # 9820456448

Dear Beju,

We're sorry to hear about your experience. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.

i think you have to sent a Complaint to the bank or file a case against the bank.

Originally Posted by ICICI Bank Care

Dear Beju,

We're sorry to hear about your experience. We'll contact you and work to address your issue at the earliest.

Regards,
ICICI Customer Service Team.

Why the RBI not taking any action against such kind of banks.

wait for the action being taken by ICICI customer care and in the mean time keep on sending reminders to make your case strong