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Thread: ICICI Bank Home loan complaint

  1. #1

    Default ICICI Bank Home loan complaint

    Hi

    Some time back, ICICI bank deducted two additional EMIs from my bank account without any approval. On detection of this and enquiry from Bank, Bank informed that they were deducted due to non payment of 2 EMIs few years back. This was not correct as I had payed all the EMIs on time with no defult ever.

    On submitting all the proofs, bank realized it mistake and corrects its records and returned the extra decued money.

    But for the duration of ~3 months I was treated like defaulter and I have to run to Banks branches many times with all the proofs of payment so that bank corrects its wrong doing.

    Please inform my rights of compensation for matters like this. Since there was a fault in the service provided by bank that was financial in nature, what rights I have as a consumer to demand compensation from the bank for this breach of service.

    Regards
    Deepak

  2. #2
    Join Date
    Sep 2009
    Posts
    1,917

    Default

    Quote Originally Posted by deepak_nagrath View Post
    Hi

    Some time back, ICICI bank deducted two additional EMIs from my bank account without any approval. On detection of this and enquiry from Bank, Bank informed that they were deducted due to non payment of 2 EMIs few years back. This was not correct as I had payed all the EMIs on time with no defult ever.

    On submitting all the proofs, bank realized it mistake and corrects its records and returned the extra decued money.

    But for the duration of ~3 months I was treated like defaulter and I have to run to Banks branches many times with all the proofs of payment so that bank corrects its wrong doing.

    Please inform my rights of compensation for matters like this. Since there was a fault in the service provided by bank that was financial in nature, what rights I have as a consumer to demand compensation from the bank for this breach of service.

    Regards
    Deepak
    Dear Deepak,

    We're sorry to hear about your experience.
    Please write to us with your contact details and loan account number at care@icicibank.com. We'll contact you and work to address your issue.

    Regards,
    ICICI Customer Service Team.

  3. #3

    Default

    Hi

    I have provided my loan account number on the mentioned email id around a week ago. But no response from ICICI bank.

    It seems the bank ignores its wrong doing. But in case the customer defaults, it leaves no end in recovering its money along with penalities.

    Please inform the actions and penalties the bank is liable to compensate for its wrongdoing.

    I request administrator of consumer court forum to help the citizens by guiding proper course of action for such cases.

    Regards
    Deepak

  4. #4

    Default

    Hi

    Inviting suggestions from consumer right protection activists (via this forum) who can help me with consumer right protection law. In such cases how and where can consumer escalates such complaints against bank like ICICI bank. I have filled the complaint in RBI. But RBI doesn not have acknowledgement service. So one is not sure whether its complaint is accepted, worked-upon or rejected. Consumer is not made aware of his rights through RBI interface as its online versio is not interative or acknowledgement driven.

    But is there any other public forum where consumer can lodge a complaint for quick readdressal and can know his rights and actions he can take for such default from reputable bank ICICI. Atleast I have gone till level 3 ICICI bank complaint and level 4 has not responded to my complaint. The reply is not favourable and my complaint is closed without any favourable response.

    All consumer right activists are welcome for their valuable suggestions on this matter.

    Thanking in Advance

    Regards
    Deepak Nagrath

  5. #5
    Join Date
    Jun 2010
    Posts
    1

    Default

    Hi,

    I have applied a home loan with ICICI bank and submitted all required documents. The bank lost my documents and I resubmitted them. It has been more than a month and I did not get my sanction letter. I did not get any proper response from the bank people. ICICI bank is worst in the service and they are not clear about the process and procedures. Definitely I will not recommend anyone to ICICI bank.

    Thanks.

  6. #6
    Join Date
    Sep 2009
    Posts
    1,917

    Default

    Hi.

    We are sorry to hear about this inconvenience. Please email us your contact details so that we can contact you at the earliest to resolve the issue. Kindly refer "501594" in the subject line.

    Regards,
    ICICI Bank Customer Service Team

    Quote Originally Posted by somsn View Post
    Hi,

    I have applied a home loan with ICICI bank and submitted all required documents. The bank lost my documents and I resubmitted them. It has been more than a month and I did not get my sanction letter. I did not get any proper response from the bank people. ICICI bank is worst in the service and they are not clear about the process and procedures. Definitely I will not recommend anyone to ICICI bank.

    Thanks.

  7. #7
    Senthildp Guest

    Default ICICI Home loan-irregularity in terms of increasing the interest rate

    Hi
    I am feed up paying more interest rate (11.5%) for less than 15L amount,when compare to other home loan provider

    Whenever RBI hikes the interest rate, ICICI are increasing it.

    The same RBI release news with decrease interest rate, ICICI have not done it so far . Instead of decreasing directly, ICICI is asking me to convert the existing home loan to fresh home loan. Which start freshly and nothing benefit for me .Ultimately the same tenure, same EMI amount only the interest rate number changes.

    I am really puzzled about the calculation. So I am planning to go to legal advice on that.

    All of my earning money is going to ICICI.

    Is ICICI is bank or finance company ?
    I don't want to pay more interest rate .. for atleast one year.

    Thanks and reagrds
    Senthil

  8. #8
    Unregistered Guest

    Angry feeling cheated by icici bank

    Dear sir,

    Few years back i have taken a home loan of rs less than 15lacks on floating rate in the year 2005 with an EMI OF 7513 Rs and i properly paid the EMI's of the bank without any delay.

    In the year 2010 i finally decided to pay back all the amount of loan due to the high rates charged by the bank and take loan from the other bank. and at that moment bank told me that we have deducted your whole EMI or the whole amount paid by you in the form of interest upto year 2024.

    and the bank have not deducted a single penny from my loan. i am extremely feeling cheated. please tell me my rights or whether bank is doing correct or not.

    DILIP HOTWANI
    BHOPAL.

  9. #9
    Dr. RAJENDRA VERMA Guest

    Default noc /closure of home loan number LBKAN0050350716/APPLICATION FORM NUMBER 2481430

    Sir,i had deposited full amount of loan money last year in july 2009 as per your instructions but with my persistant request my account is not being closed ,reason being that about Rs 7000 are lying in excess which bank is not willing to refund.I have got the details of depositing EMIs issued by your bank.
    Kindly peruse the matter at your end and reply as early as possible.
    my address-Dr. Rajendra verma
    H-1/27
    KRISHNA PURAM G.T ROAD
    KANPUR-208007(U.P)
    MOBILE NO.-9415480562

  10. #10
    Unregistered Guest

    Unhappy conversion charges

    I have taken a loan of appx 550000 from icici in 1994 and have been paying higher interest rates for last 6 years. i approached icici branch many times and they told me that nothing can be done to reduce interest rates as it depends on rbi rates. Now on filing complaint by net i was told that i have to pay conversion charges to reduce my interest rates. i did so promptly and now they are my tenure has been reduced by few years and they have reduced the rates from 13.5 to 9.5.The bank has mislead and charged excess money for last few years. My question is 1.what is conversion charge? 2.why bank doesnot take steps to inform its customer that conversion felicity is available and u can avail it? 3. what should i do to recoup my money that has been cheated out from me by the bank by not informing me about conversion charges? 3.what is your advice for the future?

  11. #11

    Default

    Hi,

    My name is Rajesh Sharma, I hv taken home loan from ICICI bank in Oct. 2006, at the time of loan disbuestment my loan ROI was 9%, later it went upto a maximum of 13% and present is @ 12.5%.

    Actually when I have taken this loan the loan amount was 15,39,450/- and tenure was 120 EMI (10 years). After paying 51 EMI (Approx 10,00,000/-) I still have to pay 109 EMI. I am really fedup with this, it looks this loan will never finish.

    I dont understand what is the meaning of floating ROI, when the banks are not decreasing the ROI for all the exisisting customers, why are they showing the difference between New and old customers?

    THe difference between my ROI & FRR/PLR is -1.25% so my current ROI is @ 12.5%

    Yesterday I visited ICICI bank kormangla, Bangalore branch to inquire about this, ICICI came up with scheme for existing customers to reduce the interest rate (making variance with FRR/PLR to -3.75%) by paying 6577/- as conversion fee and investment of 40,000/- in icici bank for 5 years locking period.

    is that not unfair to charge 6577/- as conversion fee and investment of 40,000/- in icici bank, for an existing customer to change from 12.5% to 10% within the same bank. this is a kind of cheating that ICICI is doing.

    I have the below requests to ICICI Bank:
    1.Convert my existing Home Loan to New Home Loan rates and give me a Variance of -4.00% fixed for the entire tenure.
    2.This conversion should be done without charging any fees.
    3.I should not be asked to invest in any ICICI Prudential Plan.

    I request for an early resolution to my problems.

    Rajesh Sharma
    LOAN A\C no: LBCHD00001365645
    Mobile No: 9343124310
    Email: rajesh_sharma124@yahoo.com

  12. #12
    Join Date
    Sep 2009
    Posts
    1,917

    Default

    Hi Deepak,

    We are sorry to hear about all the grievances you have for our banking services. We would like to take this opportunity to resolve all the complaints you have. Please email us your contact details at care@icicibank.com and we will get back to you at the earliest to make sure theMaintaining good corporate governance practices and securing customer trust is important to us. necessary action is taken. Kindly refer "1159460" in the subject line.

    Regards,
    ICICI Bank Customer Service Team.

  13. #13

    Default

    Quote Originally Posted by rajeshsharma124 View Post
    Hi,

    My name is Rajesh Sharma, I hv taken home loan from ICICI bank in Oct. 2006, at the time of loan disbuestment my loan ROI was 9%, later it went upto a maximum of 13% and present is @ 12.5%.

    Actually when I have taken this loan the loan amount was 15,39,450/- and tenure was 120 EMI (10 years). After paying 51 EMI (Approx 10,00,000/-) I still have to pay 109 EMI. I am really fedup with this, it looks this loan will never finish.

    I dont understand what is the meaning of floating ROI, when the banks are not decreasing the ROI for all the exisisting customers, why are they showing the difference between New and old customers?

    THe difference between my ROI & FRR/PLR is -1.25% so my current ROI is @ 12.5%

    Yesterday I visited ICICI bank kormangla, Bangalore branch to inquire about this, ICICI came up with scheme for existing customers to reduce the interest rate (making variance with FRR/PLR to -3.75%) by paying 6577/- as conversion fee and investment of 40,000/- in icici bank for 5 years locking period.

    is that not unfair to charge 6577/- as conversion fee and investment of 40,000/- in icici bank, for an existing customer to change from 12.5% to 10% within the same bank. this is a kind of cheating that ICICI is doing.

    I have the below requests to ICICI Bank:
    1.Convert my existing Home Loan to New Home Loan rates and give me a Variance of -4.00% fixed for the entire tenure.
    2.This conversion should be done without charging any fees.
    3.I should not be asked to invest in any ICICI Prudential Plan.

    I request for an early resolution to my problems.

    Rajesh Sharma
    LOAN A\C no: LBCHD00001365645
    Mobile No: 9343124310
    Email: rajesh_sharma124@yahoo.com
    Hi ,

    I have posted the above message two weeks back but did not got any reply yet, and yesterday I got a mail from ICICI bank saying they have again increase the loan percentage from 12.5% to 12.75%.

    Please do something regarding this metter, I am really tried with ICICI bank. Please suggest me if there is any other option I have.

    Thanks & regards,

    Rajesh Sharma
    LOAN A\C no: LBCHD00001365645
    Mobile No: 9343124310
    Email: rajesh_sharma124@yahoo.com

  14. #14
    Unregistered Guest

    Default home loan

    DEAR SIR,

    Sir maine apke lucknow ke icici bank hazratganj se home loan 2005 me liya tha aur 2006 ke march tak maine EMI regular diya lekin 2006 me mere papa ki naukri @@@@ gayi jiske karan mein apki loan ki EMI nahide pa raha hoo.
    ish wajah se apke bank agent mere ghar par akar gali dete hai jabki mere para ne kaha hai aur bank ko letter ke dwara suchit kiya hai apni pareshani ke bare me lekin apke bank dwara barabar gali di ja rahi hai.
    please ap is sambndh me karyawahi kare mein apka abhari rahunga.

    mera no 9807270608

  15. #15
    ashok verma Guest

    Thumbs down investigation about my loan status

    dear sir
    "TIll know my status is what we are fully unaware or unknown,.there is no any paper or document send to my home for satisfactory movement kindly send me i am ashok verma, i need my home loan status show your gracefull and pls convey or send me my status with full written statement
    my mobile no is 9009443256

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