I had a taken a car loan from ICICI in the year of 2007 for a tenure of 3 yrs. I had to pay one advance EMI. I received an offical amortization schedule from ICICI shortly after the loan was processed. The last EMI w as for 5-Dec. My EMI amount was 10955. I had linked my car loan to my online bank account.
Just months ago, I noticed that in my online schedule said my last EMI was due for 5-Dec whereas in my printed record it shows 5-Nov.
MISINFORMATION CASE 1
To clarify this I natutally called the customer care, and they told me I still will have a balance of some 2800 in the month of December remaining and for that they would deduct my entire EMI of 10955 in the month of December and then refund the excess amount after 21 days without interest.
Another time I called customer care, they said they would only deduct 2800 balance amount. And note most times I spoke to a senior customer care person, one Ms. Prachi Mohite (supervisor) also said the same.
MISINFORMATION CASE 2
I finally decided to visit the branch and clear the confusion. I met Ms. Vaishali (Branch Manager) at J.B. Nagar, Andheri E, ICICI in the month of October and she told me to IGNORE the online statement and provided me a fresh printout of my amortization schedule which thankfully matched with the one I had received early on from ICICI.
UNETHICAL PRACTICE 1
I started getting calls from the collection centre after 5-Dec that I owed money to ICICI bank towards car loan. When I checked my bank account online I found that without intimating me an amount of 2400 was deducted towards loan. This was done after assurance from a branch manager that no amount would be deducted after November.
FALSE PROMISES
Enraged by this, I visited the branch and again met Ms. Vashali who took my contact details and told me that she would look into this matter and get back to me after 2 days. I patiently waited for two days, again to be called by a collection executive informing me that I have to pay up.
UNETHICAL PRACTICE 2
I checked my online account again and found that an additional amount of 2398 which I had deposited for my ECS towards my insurance policy had also been dedcuted. If you notice the customer care said I only owe some 2800. Then why was this additional amount deducted?
WASTING CUSTOMERS TIME & HARRASMENT & UNETHICAL PRACTICE
I was really really angry this time and stormed into the J.B.Nagar branch and this time met a Mr. Santosh Paradkar (CSM), who took two hours to look into the matter and explain the entire ordeal to me. The conclusion was thus, the ICICI had FORGOTTEN to charge the PROCESSING FEES at the time of processing and they very cleverly adjusted that amount against my EMIs such that my prinicipal amount was outstanding at the end of the loan. This is a very unenthical practice according to me, because if I refuse to pay the prinicipal then I become a defaulter and am forced to pay this amount that some stupid fool forgot to take at the beginning.
My journey with ICICI soured since they messed up on credit card accounts and instead of aplogising and clearing the matter they wrongly reported me to CIBIL. And now with this loan, they are again going to label me a defaulter which brings me to think if they deal like this, are they going to have any customers buying car loan from them. I wouldn't mind paying extra elsewhere but getting peace of mind.
This matter is yet to be resolved and they are going on deducting from my bank account. I have been asked by Mr. Santosh to seek redressal of my grievance at ICARE... but such is ICICI... kya KHAYAAL AAKPA! Mentally harrassing the customer, wasting their time and money!
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