I have taken a Home loan from ICICI bank. In the starting interest rate was around 8% and close to market rate. At present they are charging 12 % of interest rate. After discussing to bank loan department, they are saying, they can reduce it to 9.25%, only if we pay 1.93% of balance outstanding principal amount.
While increasing the interest rate, they never concern about the customer or consumer. While reducing the interest rate, as per the market, they have this scheme. If you want to reduce the interest rate, you can do this, after depositing 1.93% of amount of principal outstanding.
Fresh loan they are offering at even low interest rate i.e. 8.75%.
And if, I transfer the balance to some other bank, where I can get interest rate of 8.5%, then ICICI will charge penalty of 2.25% on principal outstanding.
This is not fair with the consumer.
My outstanding loan amount is Rs. 13 Lacs, Tenure left is 168 months.
My Loan No. is LBGUR00001304153.
0 comments