Kindly read this review which I have posted on the consumer forum. ICICI bank has approved my personal loan, sold me an insurance premium to safe guard the loan for the requested tenure, congratulates me on New Years day for having got the approval, sends me two SMS confirming my application number and approval of the requested amount and then cancels my loan on 3rd January 09 with out informing me and stating a reason as "permanent address is not furnished". This BANK and its DSA’s are a bunch of JOKERs who dont know how to handle customers or work around customer issues. Their marketing strategy of a PRE-APPROVED LOAN is a complete EYE-WASH. CONSUMERS BEWARE!
https://consumercomplaints.in/complaints/icici-personal-loan-c124695.html
I have been falsly assured of getting the loan and that it is approved and after giving all documentation and personal verification having been conducted three times, they are making a claim that my permanent address was not furnish, when they refused to take the address printed on my cheque book stating that they need permanent address where some one lives. More over the call centre representative tell me that a loan can get approved but the credit manager can stop disbursement for any reason he thinks is hindering the banking practice. I fail to understand what is the meaning of approving a loan and then rejecting its disbursal for non compliance of requirements.