Dear Sir,
This is really unfortunate that ICICI Bank cheating most of their customer who are already availed home loan option.
I took 18 L INR (floating rate of interest) from ICICI Bank and my EMI was started in the year of Mar and prior to that I have also paid their so called Pre-EMI as well. However, since 36 months I have been paying in the rate of 12.75, 13 and now 16.25% and 2 months a go they also increased .5% as well, yesterday I got a letter from ICICI Bank saying that they are decreasing .5% and I believe it is nothing but an eye washing, as we all know RBI's instruction to the all bank to decrease their respective home loan interest and I believe all most all the bank done the same except ICICI Bank.
Moreover, they also stated that I have to give 294 tenure and my EMI will be 16212, if I could calculate correctly 16212 * 294 = 4766328 500000 (last 36 months) =5266328, so, I have to pay near about 35 L more.
Would appreciate if ICICI Bank could let me know why I should pay so much of extra amount and what maximum rate of interest they are looking for.
Regards
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