Hi,
My name is Rajesh Sharma, I hv taken home loan from ICICI bank in Oct. at the time of loan disbuestment my loan ROI was 9%, later it went upto a maximum of 13% and present is @ 12.5%.
Actually when I have taken this loan the loan amount was 15, 39, 450/- and tenure was 120 EMI (10 years). After paying 51 EMI (Approx 10, 00, 000/-) I still have to pay 109 EMI. I am really fedup with this, it looks this loan will never finish.
I dont understand what is the meaning of floating ROI, when the banks are not decreasing the ROI for all the exisisting customers, why are they showing the difference between New and old customers?
THe difference between my ROI & FRR/PLR is -1.25% so my current ROI is @ 12.5%
Yesterday I visited ICICI bank kormangla, Bangalore branch to inquire about this, ICICI came up with scheme for existing customers to reduce the interest rate (making variance with FRR/PLR to -3.75%) by paying 6577/- as conversion fee and investment of 40, 000/- in icici bank for 5 years locking period.
is that not unfair to charge 6577/- as conversion fee and investment of 40, 000/- in icici bank, for an existing customer to change from 12.5% to 10% within the same bank. this is a kind of cheating that ICICI is doing.
I have the below requests to ICICI Bank:
1.Convert my existing Home Loan to New Home Loan rates and give me a Variance of -4.00% fixed for the entire tenure.
2.This conversion should be done without charging any fees.
3.I should not be asked to invest in any ICICI Prudential Plan.
I request for an early resolution to my problems.
Rajesh Sharma
LOAN AC no: LBCHD00001365645
Mobile No: 9343124310
Email: [email protected]
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