Jul 03, 2009 12:48 PM
3864 Views
Buying a home in Bangalore and taking a loan from ICICI taught us the biggest lesson in life. Both the builder and the bank have a deep rooted nexus to rob you of your hard earned money. We took a loan at 8.25% floating in 2003. Since then we have invited a life time of head ache and harrassment from the relationship officers at ICICI. Our builder cheated us by delaying construction by 2 years now.
The bank refuses to disburse on the grounds of lack of progress but continues to demand pre-EMI from us. Knowing the customer loses and the Bank gains BIG TIME in this case, the relationship officers refuse to answer calls and keep promising a detailed answer on a day which never arrives.
Now they refuse to get us out of this mess with the builder by downsizing the loan so that we can atleast start paying some money towards the principal. ICICI has emerged as the biggest cheat in this experience for us. Knowing the builders reputation, it granted loan almost immediately and promised complete assurance of legal papers on the builders end, which after 3 years down the line, we know are suspect! Do not take loan from ICICI Bank. 88 reviews are advising against it. I think you can get the picture clearly.
