ICICI Ham Hai Na - to make you marry go round and round !!!

Narrating a experience of how the Ham Hai Na brigade of ICICI has no clue of what they promise and can stand to their words... This is a home loan story explained in detail (with my immediate emotional reactions too) to inform other applicants about the procedure of delays at ICICI.

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The subject line aptly describes the service of ICICI. As you can figure out i am writing this is sheer frustration and that's true. Just to explain you my trauma of experience with your home loan department.

I was seeking home loan for a propriety in Pune. Since I am residing in Mumbai (although having permanent address in Pune) I was asked to proceed for the loan requirement in Mumbai - Vashi Branch (where my saving account is). Once approached and on checking my salary account details in the system I was informed (by Mr. Bhavin Dhankee) that I have a pre approved lond of 16 lac and I just need to submit my identification paper (passport) and the current lease agreement paper of my residence. Although I was carrying other relevant doc. too like my Pune residence prof, Form 16, salary slips etc, but your officials informed that no other document is required as a pre approved loan is already there and the procedure will not take much time is providing a loan sanction letter. For records, I was looking at a 90 % loan of 16 lac.

I completed all formalities of filling up the form, photos, signing of co-applicant (in this case my wife) etc and submitted the form same day i.e. Wednesday 17 May 2006 and was promised the letter in my hand on Monday morning. Your routine verification happened and Monday (22nd May '06) came. As expected I called us the Team Manager Mr. Sameer Deshmukh (of ICICI Home Finance Company Ltd. - Vashi) for collecting the desired letter. Sameer was good enough to tell me that the same is not ready right now but I can collect it by evening 4.30 pm. He assured me that nothing to worry as all verification is positive.

At 5 pm, just before starting from my office to Vashi I SMSed Sameer about my arrival to Vashi branch (good I did that) and though he didn't replied back, but asked a colleague of his (Mr. Jignesh) to call and inform me that it's not ready again. Mr. Jignesh promised the same will be ready to handover to me by 11 am (Tuesday, 23rd May 2006). Again on asking if theirs any problem, Jignesh assured that everything is lines up sir, not to worry at all. It's just a matter of taking the print out and a sign from the credit manager. That's It.

Well I agreed, considering it's finance related matter and may take an extra time to have things proper.

Here comes May 23rd and the story unfolds. As informed, I reached the ICICI Bank home loan desk at 11.15 am. One Mr. Rahul on the desk had no clue of my case. He tried calling Sameer but couldn't get through (and how could he when Sameer had switched off / out of coverage area from 10 am - even I was tired calling him since morning before coming to the branch). Rahul assumed that his job was done by just trying once. On requesting to try Sameer's office direct no./or the home finance branch board no. he comes up with a nicest excuse "I don't have the direct or the board no." COMMON GUYS YOU ARE SITTING AT THE HOME LOAN DESK AND YOU DON'T HAVE YOUR OWN TEAM MANAGERS NO AND OFFICE BOARD LINE NOS.) - Well here lies your punch line - HAM HAI NA....

A few minutes later, Mr Bhavin arrived, attended a few customers waiting in line for someone responsible at the desk for guidance. Once free, Bhavin recognised me and with a warm greeting heard my anxiety. He also attempted calling the elusive Sameer Deshmukh, but in vain. With some basic sense, he called the Home Finance no. and spoke to Mr. Ravi - the relationship guy. Well Ravi too had no idea about the status of my file and asked for ten minutes to come back. In the meantime, hoping against the hope I was trying Sameer's no. and lucky he reached him. He excused himself of being at Thane and spoke to Bhavin instructing him to coordinate with Ravi / Jignesh. To my utter shock, Bhavin discovered while talking to (i guess Jignesh...don't remember correctly), that the file is not yet put up for a final YES from the bigger bosses (don't know who are they). However, taking Sameer again on line, I was promised that by 3.30 pm today, I can come back to the bank to collect the sanction letter. With this promise, and a feeling of ICICI - Ham Hai Na - I stepped out of the bank at 12.30 noon - a good 1:15 minutes of my office time wastage.

Within 15 minutes I get a call from Mr Jignesh saying the final delivery of the letter will take some more time and promised (3.30). On probing a little bit further, I was enlightened that on address verification, I have been given a remark by the field officer that I have not completed one year in the present residence and that is what the actual reason of delay. But at the same time he also agreed that the file has not been send above for the approval too.

WOW !!!. Didn't I had informed Sameer and others about this while giving my current lease agreement copy. YES I did. Also I had explained to them that I have been transferred to Mumbai just 9 months back from Pune and as a result I had got my ICICI salary account also transferred from Bund Garden branch to Vashi Branch. More so, repeatedly I had told him and Bhavin that my permanent house is in Pune and I have relevant document to submit for the verification. But at that time, it was not importantly taken. However, with all this, Jignesh informed me that such cases do come to us wherein the applicant staying in the rented house less that 1 yr and that's not the yardstick to refuse a loan and that I should not worry. The letter will be ready by 6 pm today and this time final commitment.

Well, at 5.30 pm this time Mr Ravi called excusing himself and taking MORE time. In plain language, he was for sure was sure that the letter will not be ready today and hoped the same on 24th morning 11 am the time for the letter delivery. Anyway, my plan to travelling to Pune with the letter had to be cancelled as I was over whelmed with so many unfulfilled promises and no letter in hand. I had to apologize to the person from whom I am buying the property and hear some harsh word as my promise to him was to meet him on Tuesday for the final meeting.

Ravi was also not sure on the handover of the letter and rightfully (thank god at least one guy in your system didn't dare to give false promise this time) didn't promised but said that he is trying his best to get the FINAL YES on the file and once having that will get the sign of the credit officer and have it ready by 11 am. He has promised of calling me in the morning.

Well promises over promises. I wonder, when the sole discretion of giving or not giving the loan is in the Bank's hand and I cannot take you guys to a legal tangle than WHY on earth so much of delay. If there is a problem in verifying the customers verification and if it doesn't fit as per your rules, GUYS JUST INFORM THE CUSTOMER THAT'S THE APPLICATION IS REJECTED. I WILL BE MORE THAN HAPPY THAT YOU GUYS HAVE NOT WASTED MY TWO DAYS. MORE SO I WONDER WHEN THE CUSTOMER IS READY TO GIVE HIS PERMANENT ADDRESS DOCUMENTS (a BSNL telephone bill in this case) THAN WHY IT WAS NOT TAKEN TO DO DOUBLE VERIFICATION OF THE APPLICANT. YOU HAVE YOUR BRANCH IN PUNE AND IT WOULD HAVE TAKEN THE SAME AMOUNT OF TIME TO VERIFY MY CREDENTIALS FROM PUNE AS IT TOOK COMING TO MY RESIDENCE IN MUMBAI.

I have still not lost my composure over the entire episode. But I am also not very sure, after the last two days of piles of promises, that i am finally gonna get letter tomorrow at 11 am. If not, one thing for sure, i am gonna lose a good deal of property and my token amount also. Secondly, will have my relation cut off from any of the banking business of ICICI. May be a small dent in the big business of ICICI, but the word of mouth can do a lot of bigger (unseen) damages. I belong to the communication professionals and i knows what a wrong perception can do to even a established organisation.

Further to my yesterday evening mail, today the so called / appointed relationship manager Shri Ravi's (09833404206) turn to do a Sameer. He has gone missing today, switching off his cell from morning (like what Shri Team Manager Sameer Deshmukh had done y'day) ...guess just to avoid hearing my music. I don't believe that they are fearing me so much. COMMON GUYS, I SAID THIS YESTERDAY ALSO. IF YOU CAN'T DO IT, JUST SAY IT. NO NEED TO TAKE COVER. NO NEED TO FEAR FROM ME. My animal inside is still controllable, if it was not, I would have by now pasted the story in net / blog, papers / e-media. Seriously, I am capable of it being from the communication side. But I don't know why the animal is still sleeping?

NEXT DAY...WEDNESDAY, 24th MAY '06...With no call till 11 am today (the promised deadline by Shri Ravi) neither any word from the Team Leader Sameer, I came to the face of seeing another 'promise' having no meaning. TRULY HAM HAI NA (just that the customer can't see the guys). My deal is gone, I have lost my token amount money given to the seller.

This time I have promised myself, and i am sure of keeping it. I AM BREAKING ALL CORDS WITH ICICI IN THE NEXT 15 DAYS.

Leeladhar Singh