Jun 04, 2007 10:00 AM
2792 Views
I have taken an ICICI Personal Loan on December 2006.I took from a Marketing Company called JKS Marketing.The Executive who handled my loan processing told me that the interest will on reducing basis. He told me that if I pay the EMI Properly without any Cheque Bounces he will reduce my interest every 6 months.
My loan amount was 35000rs , to my shocking I received a letter from ICICI Bank that the Interest would be Rs33, 500. When I called my executive he convinced me that he will reduce the interest % after 6 months.When I called them now they said they don have any option like that.
My executive has resigned the job. But now I am in trouble.
I dont want to pay this much of interest.If I preclose the loan then I have to pay around 34500(With preclose charges) after paying 1984 for 6 months. So I dont want to pay this much interest.
If this is the case then I will not pay even a single rupee if they dont reduce the interest. Any problem if I dont repay the loan.
Please help me in providing a right way to solve this problem.
