Hi,
I am a Software Engineer with an IT company. I had taken a home loan from ICICI in 2006. The rate of interest applicable then was 8.5 %. I was told that this interest rate is special for my company and was 1 % less than what other customers and banks were charging. Later on ICICI kept on revising based on RBI rate which is acceptable. But, the revision has now lead to a situation where the ineterst rate from ICICI is 1 % above other banks. This also is acceptable. Recently ICICI bank reduced the interest rate by 1.5% for new customer. So if you go for a new loan you will be paying less interest rate than what all existing customer are paying. Isn't it a cheating with existing customers.
Why this step motherly treatment for existing customers? Do Existing customers don't have any importance for ICICI.
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