ICICI Bank Loan against Securities
Unwilling to reduce rate of interest on existing loan
I took a Loan Against Securities (LAS) from ICICI Bank in 2003. The starting rate of interest (variable) was 7.75%. In the last 1.5 years alone, the RoI has increased by 6% to 13.75%. When ICICI Bank has increased the rate nearly two fold due to market conditions, it is unwilling to reduce the same ...