ICICI Bank Home Loan
Home Loan FIR keep increasing but never comes down for OLD CUSTOMERS

I have taken home loan from ICICI Bank with interest rate of 9.5% with floating rate in Oct. 2006 for 20 yrs tenure.

Loan Amount-1710000rs, EMI- 16024rs, Tenure- 20yrs.

Now, periodically when the interest rates went up they increased my floating rates.

And today i am paying with interest rate of 13.5%. for 42yrs with increase in tenure & even EMI.

Loan Amount-1710000rs, EMI-19070, Tenure- 42yrs.

Now, the main story...

when the market came down from last 6-months they are offering interest rate of 11.5% & surprisingly they are offering for only new customers to attract them.

I am still paying with 13.5% interest rate. Nothing has happened even after visiting the bank.

They have their policy when the interest rates go up they increase it but when the rates come down they don't lower it on floating rates for OLD CUSTOMERS.

ICICI bank never told me about the policy that they never lower down the interest rates for old customers when the interest rates go down while taking Home Loan from them.

So, what is the meaning of floating rate i have taken from the bank...

I could have gone for the fixed interest rates that time which i was getting for 11.5%

I HATE THIS BANK POLICY

SO NEVER TAKE A HOME LOAN FROM ICICI BANK LTD!!!

Company: ICICI Bank Home Loan
Country: India

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