I have taken a loan from your ICICI Bank, Sector 9, Chanbdigarh Branch under Loan A/c No. LBCHD00001193091in which at present your bank is charging 12.25% rate of interest and now your bank is asking me to deposit Rs.5925 more if I wanted to reduce my rate of interest to 11% as switchover charges and plus they are asking for some complsory risk coverage insurance plan which has to be done by ICICI Lumbard and charges of the same is approx. Rs.15000 per annum.
I am unable to understand this why your bank is not reducing the interest rate automatically when it was finaced on floating rate of interest basis. I want my interest rate should be reduced with imm. effect and inform me imm.
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