I have availed a car loan from ICICI in 2001
I wanted to preclose my loan and approached ICICI.. The staff revealed that there was a check that had bounced a year ago and that there were charges to the extent of Rs 6000/-.
Complete analysis of my Bank Account showed that not only did I have a very comfortable bank balance to meet the check, there was no track of the check hitting my account.
Many calls and visits to ICICI later.....the staff told me that it was my signature that didn’t match and that the check had come back. Its hard to believe such an arguement. When one signs for car loan one submits a whole bunch and the subsequent checks were cleared. The bank not only delays showing the returned document but demands that I make this payment.
This isn’t the first time I had bad experiences with ICICI. A small step for ICICI to lose big time in the market.
I realized the size and a competitive rates comes with risks. Suggest the consumer to be very cautious in their transactions.