ICICI Bank
Home Loans EMI Increase

KIND ATTN: Ms Chanda Kochhar ICICI BANK

Dear Ms Kochhar,

Sub: Customer unfriendly polices introduced by ICICI for increasing loan EMI

Ref: Home Loan ACs LBMUM00001794875, LBMUM00001723264 & NHMUM00000798091

I have been a banking customer of ICICI since about 6 years now. Have always experienced bad service, and no focus on customer from early days. Had no choice but to choose to stop banking with ICICI.

With regards to the above Home Loan- i have been always troubled to get either branches in andheri or lower parel, for any queries ands part prepayments. again an unfriendly customer environment, in spite of ICICI having so many bank branches. But that’s ICICI's prerogative and ideology, which I will totally respect for logistical reasons.

Now, suddenly- when my wife took the trouble of going all the way to the ICICI Andheri Home Loan branch, to submit a letter for increasing my EMI component- she has been informed- that the rules have changed and it will be a one month process with details of 3 months salary slip and PAN card to be submitted, and will be the bank's decision after evaluating the financial status and capacity.

1. The least the bank could have done is- inform this in advance by a way of letter, hence avoid wasting our time, to get to andheri and come back without any conclusion.

2. When the bank has the PAN card- why does it want a copy again?? A PAN card is a PAN card and does not change from time to time.

3. Who is the bank to evaluate- whether we can increase our EMI or not after the loan has been evaluated and dispersed by the bank- as long as we pay it on time?

I object strongly to such harassment from the bank, now that we are tied in, and expect the bank to be evaluate the customer impact of such policies, which obviously are beneficial, from a financial perspective for the bank.

Appreciate a response to my mail- with some concrete solution. in the event of no response- I will be convinced on ICICI's ideology to be non-customer friendly.

Cheers!

Siddharth Sahgal

siddharthsahgal@yahoo.co.in

9833301473

Company: ICICI Bank
Country: India
State: Maharashtra

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