Housing Loan from ICICI Home Finance

Housing Loan from ICICI Home Finance

Complaint against ICICI Home Finance I am a Project Manager in a leading software company in Bangalore. I have taken a loan of INR 15 lakhs from ICICI. In multiple installments, a major part of this amount has been disbursed. I made a request for disbursement of this amount on the 4th of May, 2005. I was planning to get my apartment registered on the 21st of May. My builder had informed me that the entire payment had to be complete by 14th of May. I was promised a disbursement by 10th of May by the ICICI Home Loan representative at the banking counter in Infosys campus, Electronics City, Bangalore. A week down the line, my builder demanded the same amount from me saying that ICICI had not made any payments. I paid the amount and completed the registration. ICICI Bank already is in possession of my sales deed. I enquired with ICICI regarding the same on the 30th of May. They apologized for the mix-up and promised a speedy disbursement. They also took a cheque for INR 9309.00 against pre-EMI for the month of May. I have a receipt as a proof for the same. I got another e-mail from ICICI on 6th of June demanding pre-EMI for month of May. I was told that the cheque I gave for the month of April had bounced and the cheque I gave on the 30th of May was accounted against April. I was shocked that I was not informed of a bounced cheque – NOT EVEN when I went to make a payment for May. I completed off all these payments and interest charged for late payment (in spite of the fact that I could not be held responsible for it) On 13th of June, I again got a mail from ICICI stating that there is a due amount of INR 19,000.00 and I have to pay it to enable ICICI to make the final disbursement. I knew that there was no such amount due. On my pointing out this mistake, they apologized and sent me an e-mail saying "We have already processed your disbursement request." It is 29th of June today and the disbursement is not done yet!! I had escalated the issue to a regional head of ICICI yesterday. She promised to get back to me in half an hour. Its more than 24 hours and I am still waiting for her call. This whole incident shows a total lack of respect for other people's time and money. Just making an advertisement saying "Hum hai na" is not enough. The people who bank with ICICI needs to feel the same way too. This is not even the first time that ICICI is missing a disbursement. I still have, in my possession, an earlier disbursement letter and the cheques I gave which was returned to me with an apology when I enquired why the payment was not made!! I hold a salary account in ICICI, a credit card, a demat account and a home loan. I have been an ICICI account holder for almost 7 years now. My word of advice: "DO NOT BANK WITH ICICI" Regards,

Rekha Click this link to e-mail the message author: Email User

Comment On This

Thanks for complain I am also victim of ICICI HFC Limited please see my compain to ICICI HFC for 5 th time which is unasnwered:

Reminder-2

----- Forwarded Message ----

From: N.K. Samariya <samariyaca2001 AT yahoo.co.uk>

To: customercare AT icicibank.com

Cc: headservicequality AT icicibank.com; pahredar AT moneycontrol.com

Sent: Friday, 14 November, 2008 15:09:05

Subject: Re: 'ICICICARE=031-139-536' Fw: Wrong showing overdue amt. for installment

Reminder-1

13.11.2008

ICICI HFC Limited

ICICI Bank Phone Banking Centre

5th floor, Md illayas khan estate,

Road No 1,

Banjara Hills

Hyderabad 500 034, India

Dear Sir/Madam

I am very sorry to write you for 5th time on the same issue. Each and every time I am receiving calls from your customer care but still problem is unsolved.

I again putting a brief details of my request/query:

Against my home loan account no.: LBUDP00000954245 the last installment was due on 07.10.2008, the details are as under:

Principal o/s Rs. 1513

Interst thereon Rs. 17

Total amt. for last installment Rs. 1530

As per standing instruction for auto debit Rs. 1530 was debited in my Saving a/c no.: 004501510313 on dated 07.10.2008. Thus no amount due for last installment . Besides this Rs. 63 was for overdue interest which has already deposited with ICICI HFC Limited Tiruppur and also adjusted by you.

But unfortunately, as per your system the following amount was shown as overdue installment amount:

Regular Installment amount Rs. 1883

Less: Amount for final installment Rs. 1530

Amt. shown as overdue Rs. 353

Further this amount was reduced to Rs. 291 after deposit of Rs. 63 against overdue interest.. In each and every communication with you I have specific wrote that when last installment amount was only Rs. 1530 then how can you ask me for deposit Rs. 1883?.

Each time i was given assurance by your customer care executive that this mistake will be rectified but still problem is as earlier since begining and ICICI HFC Ltd. is not releasing my original documents and also NOC of my property worth Rs. 15 Lacs.

Moreover, the extreme circumstance happen when i received a call from one Delhi number:-011-39825610 at 4:51 PM on dated 12.11.2008. That gentleman asking me to deposit overdue installment amount and produce NOC from ICICI HFC Ltd. I tried to convince him but he again and again making pressure for deposit this amount. I think that call was from your recovery agent.

This shows how ICICI Bank group is adopting unfair practice and as a result either customer paid unjustified amount for mental peace or commits suicide and it is the great indian courts who had controlled such practice to some extent.

Therefore, I advised you to kindly take this complain seriously and solve within one week period from receipt of this mail otherwise i have to take legel action against ICICI HFC Ltd. and file a criminal complain with court of law.

However i am sending this to all leading Newspaper and News Channels of India so that public can be aware about mal practices adopted by ICICI Group.

Thanks & regards

N.K.Samariya

09366623471

----- Forwarded Message ----

From: Customer Care <customercare AT icicibank.com>

To: N.K. Samariya <n_samariya AT YAHOO.CO.IN>

Sent: Monday, 13 October, 2008 1:06:42 PM

Subject: RE:'ICICICARE=031-139-536' Fw: Wrong showing overdue amt. for installment

Dear Mr. Samariya,

For quicker resolution of your query/request, please write to us through the "E-mail Us" option at our website,www.icicibank.com

According to our telephonic conversation on October 13 2008 at 12.45 p.m, we understand that your query has been addressed regarding the Documents.

Sincerely.

AnathaLaxmi venkatesh-Emails loans-Mum

Customer Service Officer

ICICI Bank Limited

Comment On This

Thanks for sharing your experience. I am another victim of ICICI home finance.

I am waiting for my disbursement cheque from past 2 months after my sanction letter. When we contact them they just disconnect the phone. After submitting all my document, even after 20 days which they normally advertised as 5 days after receiving the document i havent received disbursbment cheque.

They then promise a day and they never get back to us on that day.

I am really terrified with their treatment to customer. My advise to everyone is that please approach to ICICI bank at your own risk.

Comment On This

It's no exaggeration. ICICI is a looter. I don't understand why RBI is not taking it serious. They do not adhere to RBI policies. Eg: they charge foreclosure charges which RBI has waived long back