ICICI Bank - Home Loan — very high roi for existing customer why?

Address: Gurgaon, Haryana

Dear Sir/ Madam,

Now icici home loan roi is 8.5 % & for existing customer 13.25 % why. our loan is floating type. what is floating? so many time increasing the roi, but when decreasing roi, there is no benifits givin to customer why? This is cheating only.

regards
s k kohli

icici roi increasing email[protected]
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Dear Customer,

Greetings from ICICI Bank!


Revision in the rate of interest on your ICICI Bank Loan LBDEL[protected]

ICICI Group has emerged over the years as the preferred financial service provider of home loans. Thank you for associating yourself with us. We value your relationship with ICICI Group.

You would be aware that the Floating Reference Rate (FRR) / Prime Lending Rate (PLR) is determined by market conditions and the cost of funds of the bank. We wish to inform you that the benchmark reference rate (FRR/PLR) of ICICI Bank, floating interest rate loans has increased by 0.50% p.a. in August 2010.

Your new rate of interest is 13.25 % p.a. Consequently, we have enhanced your balance loan tenure to 176 months keeping your EMI unchanged.

If you have any queries or need any clarification, please call us at our Customer Care, write to us through the 'Email Us' link at our website, www.icicibank.com or visit any of our loan servicing branches.

Assuring you of our best in products and services at all times