I am a client of ICICI bank Home advance, Avail a credit in 2010 at a 9.15% Floating Rate. In 2 years my rate is overhauled no of time however just twice I was educated about rate trek and change of rate. as of late got a letter expressing my new rate compelling Nov will be 13.25% because of business sector change.
I raised a grumble with the Bank Officials and requested a point by point explaination in expounding on such a high rate just with ICICI bank. Market has changed so all bank ought to be affected however I checked with couple of banks and found the maximum these banks offered was 11%, then why ICICI with such a tremendous contrast.
I didn’t get a legitimate thinking from the bank official as they said those subtle elements are private.