ICICI Home Loan
High Interest rate

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

Company: ICICI Home Loan
Country: India

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