I’d taken home loan in 2006 from ICICI @ 9% but it was for only one month I was charged 9% and thereafter it had been constant hike in the rate upto 13%.
Now, when the rates are on decline ICICI bank is the only bank citiing 100 different reasons of not passing the benefit to existing customers. Whereas the new customers are getting home loan at 9.75%(poor guys who get carried away by this figure, they don’t know what’s going to happen to them).
As an existing customer if I want to avail the benefit then ICICI bank cheaters tell me to aishwaryasingh23 1.75% of outstanding amount as’Conversion Fee’ and get the interest rate converted to 9.75%. Note that this 1.75% is not going to be adjusted towards principal amount or anything, it’ll just go into ICICI bank’s pocket without any justifiable reason.
I’d been a loyal ICICI Bank customer but now only for the last time. No more transactions with these cheats. Floating rates are only upwardly floating, and to make it float downwards, you’ll have to shell out extra. Too much.