ICICI Bank - Home Loan - Fore Closure Penalty
Fore Closure Penalty

ICICI - home loan account - LBBNG00001494077

I want to close my housing loan out of my own funds. The loan was sanctioned in 2006. ICICI Bank sent me a document telling I need to pay 2.21 % of the outstanding amount to close my loan.

This is atrocious, I read here in many complaints and also in articles that Banks are not supposed to charge the customers if the loan is being paid out of their own funds and not moving to another bank.

I also believe there is a supreme court order to repay one of the consumers who had complained.

Hopefully ICICI starts treating its customers well, otherwise they will start losing business to more consumer friendly banks.

Thanks

-Sunil