I had taken housing loan from ICICI bank as it was offering loans at lowest rate and Now there interest rate is highest among all . Pl don’t take any loan from ICICI bank, as they will charge you very high interest rate on loan and will charge you at every step . if you want your loan rate to be reduced, you want to prepay your loan etc. So they will increse the Interest rates as many times they want but for every time you have to decrease it you pay through your nose .
There Customer care will not give propper response . See the response below
*Whenever there is a change in PLR/FRR, the tenure or EMI or both would be changed. Hence your EMI has been increased due to the increase in the Rate of Interest.
The dates of changes in the PLR / FRR are as follows:
10 Nov 2003 0.50% reduction in PLR
17 Nov 2004 0.50% increase in PLR & FRR
16 June 2005 0.50% increase in PLR & FRR
13 Feb 2006 0.50% increase in PLR & FRR
8 May 2006 0.50% increase in PLR & FRR
15 June 2006 0.50% increase in PLR & FRR
09 Febraury 2007 1.00% increase in PLR & FRR
31 March 2007 1.00% increase in PLR & FRR
Margin points are the points that we offer under various schemes from time to time.
However, if you wish to decrease your margin points thus reducing the rate of interest, please note that there would be a conversion fee of 1.75%(from floating to floating and floating to fixed / vise-versa) on the principal outstanding plus a service tax of 12.24% on the same.