ICICI
Loan recovery

I am Manjunath. AM, an ICICI credit card account holder (No XXXX2003) since 2005. I had taken loan of amount Rs. 1.5Lakh, (While giving the loan they created dummy creditcard number in attachment with existing creditcard) and have been paying EMI regularly to the loan account.

Last month I declared to clear the loan amount as per ICICI rules (i.e Paying principle amount plus 3% interest). While repaying I paid loan amount of Rs 1, 33118.39 mistakenly to my credit card account (which is verymuch attached to my loan account) instead of loan account which is attached to the credit card.

Later upon contacted by a ICICI customer care representative, I explained the same and following his given directions, I rushed to the nearest ICICI branch to place a request to transfer the amount from credit card account to loan account. The representatives at the branch asked me to place a request online. I dutifully placed the request online. I was confirmed by the customer care representative that there will no late payment fee or interest would be levied.

On Mar 12th 08, I received a statement levying Rs 8515 as interest and late payment charge.

I have been a loyal customer to the bank and have been making all payments on time. It is really unfair on the part of the bank to levy any charge on a payment made before time.

I have completely lost trust in the bank operations. Every time I call the customer care, I get a different picture of the bank policies by the customer care representatives, a result I am still not clear about the bank policies.

Now the customercare people are scaring me that this amount will double every month if you are not paying now.

It has become mental harrasment for me not able to concentarte on my work or anything otherthan resolving this issue.

Please help me to resolve this,

Thanks

Manjunath

Company: ICICI
Country: India

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