ICICI Bank Home Loan
Abnormal Rate of Interest and Tenure

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

Company: ICICI Bank Home Loan
Country: India

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