Hi,
I am praveen, NRI from singapore.
I took home loan in December from Hyderabad. At that time the interest was 9% floating loan.
After 3 months my interest rate escalated to 11.5% but they are giving loan to new customers at the rate of 10%.
On March 27th I sent a Demand Draft of Rs550000 for the partpayment to my loan account.
They acknowledged that they received the DD on 01/04 and they supposed to deduct my partpayment from the outstanding principle and recalculate my EMI from April 10th (payable on May10th)
Instead of that one they are recalculating my EMI from May10th (payable on June 10th).
one full month they just kept my money in suspension though i paid my partpayment well before EMI effective date. In my case ICICI deducts EMI on 10th of every month.
I spoke to ICICI customer support for atleast 100 times but always they say that they look into the matter but no status.
I wrote this to Mr Kamath and ICICI Quality heads. After that i got a response from Dharma Veda from ICICI Bank saying that they created a process of approval to recalculate from EMI from April 10th instead from May 10th. But even then still they recalculated my EMI from May 10th.
I sent so many mails to the Account Manager but everytime i send a mail i get same response they are looking into the matter. After several mails i got response saying that according to their records my partpayment paid on April 17th. So the EMI going to be effected from May10th.
I sent the money on March 28th and also they acknolwedged that they received it on April 1st and now howcan they say that according to their records they received it on April 17th.
Its totally cheating...
There are lot of problems whenever i bank with ICICI .
There are lot of stories with ICICI with most of my friends also ..
Please dont have any relationship with ICICI.This is big big fraud bank.
Regards,
Praveen
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