Hi,
I am Ajit Gandhi and I hold a floating rate home loan with ICICI Bank (LBMUM00001527311), there have been lot many complaints against the unjust unfair means of conducting business within Housing Finance Department. Following are my complaints :
1) On discussing with ICICI Bank officials for pre-closure of the above stated loan on October 13, I was told that I would be charged a pre closure penalty of 2%. On mentioning that RBI has given a press release on September 06 (http://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx? prid=25012) stating that banks are not suppose to charge pre closure penalties/charges on floating rate loans, ICICI Bank officials flatly denied the same. I am worried as this is no way to harass a client. The interest rates are rising, incase if you want to close your loan you are unnecessary taxed with extra sums, which is unfair.
2) Also, for the above mentioned loan, I have paid a sum of Rs.6.18 lakhs till date from 2007 onwards, of which only 5% of it has been credited towards principal repayment and the balance 95% have been considered against Interest payment. This is highly unfair as a client would have paid interest for a tenure then what he is already holding a loan for. Say for example if I were to close my loan now, my interest payment is already in excess then what it should have been till date.
I would request RBI and the honorable Consumer Court to kindly pay attention to my compliant and assist us against such monopolistic unfair business organisations.
Regards,
Ajit Gandhi
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