ICICI Bank Ltd
Home Loan Interest Rates

When I took this loan, I was offered interest rate of 8.5%, However it was increased whenever there was an increase in interest rate, since this being on floating rate of interest. Now recently when bank has slashed the interest rates, they have not decreased my interest rate. When I complained for that at the call centre, they say that low interest rate is only for new customers and if I want that interest rate I have to pay swtich charges, that would be probably 2% of the loan amount.

Now my question is that, if they have increased the interest rate then how come they have not paid me switch charges? how they can do like this, they are cheating not only me but millions of customers.

If I see my interest rate chart then it has increased everytime interest rate was increased but it was never decreased when they announced slash in interest rates.

Please see

Company: ICICI Bank Ltd
Country: India

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