Hi,
I had taken a home loan from ICICI bank in 2005 for 25 L and current rate of interest they are charging is 11.25 % floating. I called up ICICI customer care and they are asking me to pay 0.5% of outstanding loan principal amount to reduce interest rate from 11.25 % to 9.25%. When i asked what for i have to pay these charges there was no answer and saying its for a current scheme and company policy.
My concern is: are these charges legitimate, and why ICICI bank has not reduced the rate of interest of it's own and offering only when one ask for pre-closure or pre-payment.
regards,
Sudhir
9945327376
PS: Does this forum takes any action on the complaints posted, i have posted a few more earlier but nothing happened..
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