Comments
ICICI officials are just misguiding the people of India. Mr KV Kamath has spoken several times in the media that ICICI will reduce interest rates in next month or so and when the time come they keep postponing it. This time Miss Chanda Kochar said it will take more than 6 months for interest rate cuts to happen. The bank which has just reduce 50 bps when the RBI has reduce the repo rate by almost 500 bps, will not reduce the rates in the future. My dear friends think about the future when the interest rate cycle starts moving upwards and RBI starts increasing the rate, the ICICI will not hesistate in further increasing the PLR, the existing customers who are paying 11-13% will have to pay even more. The ICICI existing customers has no option but to transfer there loans to some good psu banks or stop paying money there EMI. The ICICI will suck so much money even selling your house after 20 years will not fetch you that amount. So be wise, admit your blunder and react fast without second thought. This bank is the financial terrorist of India.
The ICICI is never going to reduce the lending rates for existing customers. They are the biggest cheat in the country. KV Kamath, the ICICI head and CII president is the number one crook...he speaks in the public that banker should reduce the interest rates, but his bank never reduce rates. There cheap strategy is to give loan at low rates to new cutomers and increase thereafter immediately after some months. They are openly cheating the customers of India. This is really pathetic that both RBI and Govt does not take action against there crook activities. The best think is all the customer of ICICI should protest aginst the bank in the front of RBI building, this will force the RBI to hear the ICICI customer problem and media will also get active. All the ICICI Home Loan Customers should transfer there loans to public sector banks. I know the ICICI create problems if someone tries to transfer there loans to other banks.
Everytime ICICI management says, we are watching the liquidity situation and will review the rates later on and then they never reduce the rates. This is just to divert the attention of the customers and the media. Irony, is that the KV Kamath says different thing and Chanda Kochar says opposite of that. This is because KV Kamath is the head of CII, he always says good thing but never delivers that. Funny part is he is saying banks should reduce rates, but his ICICI is not reducing the rates. I dont understand, why the cost of funds are not coming down for these private banks despite huge Repo Rate and CRR cuts by the RBI. They are just fooling everyone and earning huge interest income by not reducing the interest rates.
Chanda Kochar is also following the path of KV Kamath to cheat the borrowers and harrass them with there crook activities and policies. They will never give relief to the home loan customers. This bank has crossed all there limits, they were the first to increase the rates after the RBI rate increases and that too the steepest in the industry. I remember they increase the home loan rates from 9% to 13% from (2006 October- 2008 July) the highest in the industry, even the HDFC was having the 11.75% maximum. They are treating the customers as there bonded labours. HDFC increased there PLR by 2.25% but ICICI increased it by 4%. No as on April 4, 2009 HDFC has reduced there PLR by 1% and ICICI by only .50%.
God can only save the ICICI existing cusotmers.
Everytime ICICI management says, we are watching the liquidity situation and will review the rates later on and then they never reduce the rates. This is just to divert the attention of the customers and the media. Irony, is that the KV Kamath says different thing and Chanda Kochar says opposite of that. This is because KV Kamath is the head of CII, he always says good thing but never delivers that. Funny part is he is saying banks should reduce rates, but his ICICI is not reducing the rates. I dont understand, why the cost of funds are not coming down for these private banks despite huge Repo Rate and CRR cuts by the RBI. They are just fooling everyone and earning huge interest income by not reducing the interest rates.
Chanda Kochar is also following the path of KV Kamath to cheat the borrowers and harrass them with there crook activities and policies. They will never give relief to the home loan customers. This bank has crossed all there limits, they were the first to increase the rates after the RBI rate increases and that too the steepest in the industry. I remember they increase the home loan rates from 9% to 13% from (2006 October- 2008 July) the highest in the industry, even the HDFC was having the 11.75% maximum. They are treating the customers as there bonded labours. HDFC increased there PLR by 2.25% but ICICI increased it by 4%. No as on April 4, 2009 HDFC has reduced there PLR by 1% and ICICI by only .50%.
God can only save the ICICI existing cusotmers.
They are cheater & don't follow any govt. rules & guidelines. Getting unjust enrichment at the cost of existing customer. Even I have also Housing Loan with these people & complaint to them many a times but getting standrad reply all the time. Is there any agency in India who can give justice to the ICICI Customer.
Hi
I will Request everyone who is Trapped and have similar complaint to write to RBI :: BANKING OMBUDSMAN at http://www.rbi.org.in/commonman/English/Scripts/AgainstBank.aspx
There has been already a Judement by BANKING OMBUDSMAN Maharashtra wherein ICICI bank was asked to Refund the Over charged Interest and the same point got o[censored]nfair Trade Practice was upheld against ICICI bank refer at http://pparag.wordpress.com/2008/07/31/rbi-slaps-icici-bank/
Lets start the Movement ! Together we Can !
PLEASE LOGIN YOUR COMPLAINT IN BANKING OMBUDSMAN
I will Request everyone who is Trapped and have similar complaint to write to RBI :: BANKING OMBUDSMAN at http://www.rbi.org.in/commonman/English/Scripts/AgainstBank.aspx
There has been already a Judement by BANKING OMBUDSMAN Maharashtra wherein ICICI bank was asked to Refund the Over charged Interest and the same point got o[censored]nfair Trade Practice was upheld against ICICI bank refer at http://pparag.wordpress.com/2008/07/31/rbi-slaps-icici-bank/
Lets start the Movement ! Together we Can !
PLEASE LOGIN YOUR COMPLAINT IN BANKING OMBUDSMAN
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I strongly agree with this point by Mr.Agnihotri ...
Recently I went to the bank for foreclosure for which they demanded 2.25 % forclosure charges . Which i had paid to get a rid from this Bank
Secondly, ROI - I was paying was of 12.5 % ( old coustomer sience 2005 @ with saction of 8% floting rate which was hiked to 13 .5 within 2 year )
while the new coustomers are getting it with 8.5 % = ? . this indicates that ICICI is adopting unfair trade practice ...
Niranjan
Recently I went to the bank for foreclosure for which they demanded 2.25 % forclosure charges . Which i had paid to get a rid from this Bank
Secondly, ROI - I was paying was of 12.5 % ( old coustomer sience 2005 @ with saction of 8% floting rate which was hiked to 13 .5 within 2 year )
while the new coustomers are getting it with 8.5 % = ? . this indicates that ICICI is adopting unfair trade practice ...
Niranjan
I.C.I.C.I — Unfair interest rate on credit cards
My previous credit card statement dated May 26, 2010 had an outstanding balance of 12,674 (approx.) and the payment due date was June 12, 2010. I paid Rs.12,000 via check and it was debited from my bank account on June 8, 2010. The balance of approximately Rs. 674 was carried forward. However, when I received my latest I.C.I.C.I. bank credit card statement dated June 26, 2010. An interest of Rs. 737.92 was reflecting on my statement along with a service charge of Rs. 76.01.Now, I have a concern here, how can the credit card company charge Rs. 737.92 as interest when my outstanding amount was just Rs. 674 (approx). This is quiet unfair as I am not ready to pay an interest of Rs. 737.92 on Rs. 674 and that too just for a month. As per the terms and conditions, if total amount due is not paid before the payment due date; interest would be charged on the total amount due and on all new transactions till such time as the previous outstanding amounts are not paid in full. The terms and conditions are unfair and misleading. Though after a lot of follow up calls, they have reversed the interest amount. However, I want to bring into notice the unfair terms and conditions.
Hi,
We are sorry for the problem caused to you. We have made a note of your mobile number and shall get in touch with you soon to solve the matter.
Regards,
ICICI Bank Customer Service Team.
We are sorry for the problem caused to you. We have made a note of your mobile number and shall get in touch with you soon to solve the matter.
Regards,
ICICI Bank Customer Service Team.
ICICI Bank — ROI MAX. COMPARED TO OTHER BANK
DEAR SIR,MY HOME LOAN A/C OF ICICI BANK IS LBBMT[protected]-LN . SINCE LAST 4 YRS I PAID REGULAR INSTALLMENTS AGAINST 5,56,000/- RS. (6091/- RS/MONTH). ACTUAL PROBLEM IS LAST 4 YEARS BANK CHANGE MY ROI 5 TO 6 TIMES. NOW MY RATE OF INTEREST IS 13.25% PA. AS COMPARE TO OTHER BANK IT'S MORE THAN 3%-4%. NOW MY TOTAL AMOUNT 5,10,000/-RS AFTER 4YRS.
PLEASE HELP ME FOR THIS TYPE OF FRODING. AND ALSO I WANT TO TRANSFER MY LOAN TO OTHER NATIONALISE BANK. HOW CAN THIS HAPPEN GIVE GUIDELINE.
MY MAIL ID rahulv.[protected]@gmail.com.
THANKS.
Hi Rahul,
We are sorry to hear about your experience.We have made note of your account number.We'll contact you and work to address your issue at the earliest.
Regards,
ICICI Bank Customer Service Team.
We are sorry to hear about your experience.We have made note of your account number.We'll contact you and work to address your issue at the earliest.
Regards,
ICICI Bank Customer Service Team.
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ICICI Bank Towers, Bandra-Kurla Complex, Mumbai, Maharashtra, India - 400051
ICICI Bank — Interest Rates too High and keeps on increasing for existing customers
I took home loan from ICICI which was sanctioned on 02/10/2003 @7.25% as Pre-EMI and then started @8.00% for the actual emi (07/02/2005). Right now its showing interest rate as 14% from next month onwards. I think this is one of the highest interest rate by any bank for their existing customers. When I communicated with ICICI bank they are telling this is the standard market interest rate whereas other banks are offering home loans @11.5 to 12 for new customers.Can someone please let me know what can I do?