ICICI Home Loan

ICICI Home Loan

October 25, 2005

Hello,

I have taken a Sanction letter for 8.0 % FIXED few months back from ICICI Dadar East branch. I was dealing with Home Loan Counsellor Ms Bhavika Nayak. In the first week of July I identified a resale property at Jogeshwari(W). I submitted photocopy of sale agreement (all chain of document) to Bhavika to validate whether the documents to be submitted are proper and bank can give me loan on this property. She had confirmed & told me to go ahead with the property. Following to her confirmation, I had given Rs. 1 Lakh (1 lac

rupees) as cash to the seller and also I paid my stamp duty and registration. On 2nd Sep I submitted all my original documents to Bhavika. After taking all the original documents from me. She told me that now the Rate of Interest would be 8.75%. To which I agreed, as I had no other option. But on 12 Sept I got a call from PRO Mr. Manish Sharma that ICICI cannot give me loan. The reason was my documents were not proper. I tried to reach Bhavika but she did not pick up my calls (5-6 calls) nor did she call me back. I personally visited the branch but Mr. Manish could not tell me the exact reason for the non-disbursal of the cheque. Finally I met Mr. Shirker (Branch Manager) and explained him the situation. I showed him all the documents. He told me that he would get back to me with in a day. But I did not receive any call from them nor did these people give me any satisfactory reason for declining the loan. Then I approached Standard Chartered Bank and Canara Bank. Both the banks are ready to give me loan after examining my property documents. I have asked ICICI Bank for refunding my processing fees but they told me that they would think over it. I am sorry to say that the approach of Ms Bhavika Nayak and Mr. Shirker was totally unprofessional. After a follow up of two weeks, they have returned my original documents .I am really surprise to find another customer's (Mr Augstin Joseph and Mrs Corin Augustine) sanction letter along with my original documents. That sanction letter is still with me. Is it the way ICICI group works?

Now I have got my disbursement from other banks. As ICICI is not giving me the Loan, Bank should return my processing fees. Would appreciate if you could look into this matter, so that I can get back my processing fees, which I have already paid.

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