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[Resolved]  ICICI Home Loan — wrong interest calculation

Address:Maharashtra

Dear sir,

This is in regards of my home loan with ICICI bank.

Bank has lots of hidden policy one of them i would like to explain you here.

1. My EMI cycle is 10th of every month.
2. I have made payment of 5lakh rupees on 26th. and bank has processed it on same day and it was deducted from my saving account too.
3. as per correct mathematical calculation i am suppose to pay interest on outstanding for 16 days and onoutstanding - 5L for 14 days.
4. But bank has taken interest on outstanding for full month and not given me any benefit on amount that i paid them early.


Please take this as a serious note and give me proper justice and stop all banks whoever are doing such faults.

Thanks
Mayank
[protected]
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Aug 13, 2020
Complaint marked as Resolved 
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Comments

I have taken a money saver home loan from ICICI. During one of my random checks, I found that they have wrongly calculated interest rate for the month of February and deducted extra amount. I went to the branch 4-5 times, had lot of mail interaction with the branch manager. They agreed that there was a wrong calculation but even after more than 2 months the money was not refunded. I then raised the compliant level and then finally they reverted back the money. However, they refused to tell me what was the actual problem behind this mistake. I raised my complaint to upper levels but there was no response from their side at all.
I am putting this information here for common interest of people as I think this should affect all moneysaver customers and thats why they are not ready to tell the actual problem. I even told them that it should be affecting other customers but their response was that they will not tell anything about other customers whether it is affecting them or not.
Reply
Dear Mayank,

We are sorry for the inconvenience caused. Please write to us with your contact details at [protected]@icicibank.com and we will get in touch with you in order to address your concern. Kindly refer "752734" in the subject line.

Regards,
ICICI Bank Customer Service Team.
Reply
Dear Mayank,

We are sorry for the inconvenience caused. Please write to us with your contact details at [protected]@icicibank.com and we will get in touch with you in order to address your concern. Kindly refer "752733" in the subject line.

Regards,
ICICI Bank Customer Service Team.
Reply

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