ICICI Bank
ICICI Home Loan (Old customer)

Hello,

I am an old ICICI Home loan customer, I had taken the loan through floating rate, it was told that this floating rate is directly linked with the banks Repo rate. There is two matter, currently ICICI Bank providing around 9% interest charge for the new customer for floating rate loan, then how it is possible that the same kind of loan for the old cumtomer they are charging more, i.e. around 13%.

The second mater that when RBI had increased the Repo rate then the same bank increased the rate, now when RBI decreased then why not, what is meaning of Floating rate laon means, only increase and increase.

Is any regulatory available in our country to stop/punish such open FRAUD by the ICICI bank.

Please help the consumers of India for such Organised fraud.

Thanks,

Sanjay