ICICI Bank
Rate of Interest

I have taken home loan from ICICI bank under floating rate of interest (ROI). Presently, the ICICI bank is charging ROI 12.75% from old customers like me. But it is luring new customers by advertising to pay home loans @ 8.25% ROI. My complaint is that why the ICICI Bank is discriminating between old and new customers. Why the old customers are overburdened to fetch new customers. To add more injuries, the ICICI bank is offering a scheme that "pay 30000/- and your rate of interest will be reduced to 8.75%". I want to ask that why the bank is offering such money making schemes? If a customer with floating ROI has to pay money for its loan reduction, then what is meaning of floating rate of interest?

Company: ICICI Bank
Country: India

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