Hi,
I am a manager with an IT MNC. I had taken a home loan from ICICI in June. The rate of interest applicable then was 8.5 %. I was told that this interest rate is special for my company and was 1 % less than what other customers and banks were charging. Later on ICICI kept on revising based on RBI rate which is acceptable. But, the revision has now lead to a situation where the ineterst rate from ICICI is 1 % above other banks and .5 % above new ICICI customers. I was told that there will not be prepayment charges. I took that in good faith but now found that in the agreement they have mentioned that the prepayment charges will be 2 %. I now feel trapped with ICICI as they are charging very high rate as compared to market and are imposing prepayment charges. There should be some action against them.
Rgds,
Nitin
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