ICICI Bank Ltd
Irrational Home Loan Rate

Its true that favor is always for a new girl friend rather than for wife..and that is the simple logic as everyone agrees about ICICI Bank Home Loan rate favoring new customers to existing. I have not come across any Home Loan customer of ICICI Bank who says I am happy with the Loan / relationship. As for me (floating rate of 7.25%) my loan with EMI started in Jan which has now been increased to 11.25% currently without any reduction in rate (only increase). I would request RBI and other Govt agencies to take action against this Bank for its irrational rate it charges in the market for existing customers. Now, Punjab National Bank is one of the lowest rate with fixed rate much lower than my current floating rate with ICICI Bank Ltd. I suggest all existing customers of ICICI Bank to switch to PNB to save lacs of their hard earned money!! There are hundred explanations ICICI Bank gives to defend themselves for their rate, like cost of funds etc, but should we as customer anyway be bothered except for the price (interest) we pay? I do Warn all new customers to keep distance from this Bank, because you get an attractive floating rate from ICICI Bank just to be lured as a new customer who is turned deaf ear after loan amount is disbursed!!

Company: ICICI Bank Ltd
Country: India

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