Dec 08, 2008 11:27 AM
2602 Views
Don’t ever think to take Home loan from ICICI. Full of cheaters. One of the most un-ethical private bank providing Home loan. Dissatisfaction will start from day one from your first EMI. Even if your loan had sanctioned, I strongly suggest to not get the loan disbursed. You will better loose only the processing charges. Even go to other banks like HDFC, SBI or even LIC. But never ever go to ICICI. You will have to repay your loan till you will alive. Even if you have a life period of 100 years. I am not joking but serious, and is just only due to worst policies for existing customers.
The only aim to trap the new customer by providing them loan below the prevailing rate of interest and then immediately step up to the current rate.
Their working style is like that :
First they are announcing a discounted rate of interest to new customer. They are very quick in providing loan with the minimum documentation. As soon as the loan get sanctioned the customer just got trap in their life long tenure of repayment. They will raise the Rate of interest only after 2-3 instalment, and to make them at their current rate of interest. The worst is not yet over. They will never bring down their rate even if their be any announcement of rate cut. The rate is only applicable to new customer.
WHY? When a customer had taken the loan on flexible, why he will not get the benefit of this rate cut. I am also a victim of that and taken the loan at 8% and now the rate they are charging is 13.5% a much much higher than any other bank. Even on Saturday they had announce a rate cut of 1.5%, the same will be applicable to new customer only.
Why? Is there any one to give the answer.
The only conclusion is that this bank is no. One cheater and nothing less than that. I strongly advice everyone not to go for any type of loan this bank, especially for home loan.
Their policies are meant only to trap the new customer. I strongly recommend if any one know the procedure just get them to the court.
You will only get the disappointment, and they will suck all your earning. The biggest but the most worst style of operation for existing customer. You will get no value once your emi get started.
If any of the high ranked official read this, i want to ask : why the cutting of interest rate is applicable for new customers only? And at last only due to the dual practice of this no one cheater bank. I strongly pray to god that “bhagwan kare ye bank barbad ho jaaye”.
