This refers to the personal loan (loan no 9401 2700 4155 8003) that I had taken from ICICI bank in January.
This personal loan of Rs 4.5 lacs was given to me on the basis of a credit card of ICICI that i hold (Credit card no ; 5176 3700 5414 6018)
The reason i am writing you is; I was told that i would need to pay an EMI of Rs 12, 750.00 per month for 48 months.
i have been paying an EMI of more than Rs 12, 800 every month (last payment was made on January 22 for Rs 13, 670.00)
I had made two payments after last due date (in 2007), for which i was charged Rs 500 as late fee charge. This charge i had disputed. But to my utter surprise, every month the rate of calculation is done on the entire amount plus Rs 500 and it has now got compounded to Rs 31, 000 outstanding.
I have written number of times to ICICI bank log in (from the site www.icicibank.com)
But no one is taking this problem seriously. Technically the bank may be right in levying these charges. i have been making payments every month which are Rs 1000 more than the EMI. It seems so obviously unfair. For making two payments late the charges that have been calculated are running into Rs 18000 (the latest statement i received states EMI Rs 12, 750 plus late payment and other charges which are in excess of Rs 18, 000).
No one from the bank is paying any attention.
I hope you take serious note of my request.
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