I had taken home loan from ICICI bank about 4 years back at 7.25% floating rate. But then after 3 months I got a letter that the rate is revised to 7.75%. This kept on happening and after almost 1.5 years I realised that the rate had reached 9.5%. New customers were still getting at 7.0 to 7.5%.
I decided to change to IDBI bank which offered me at 7.5%. When I called ICICI for return of my papers as I wanted to transfer my loan then SUDDENLY they offered to reduce my rate from 9.5% to 7.5% as a SPECIAL CASE. I refused their offer and shifted to IDBI Bank and I am having a good time with IDBI bank. They will increase the rate only after increase by all banks and are not in a hurry to increase like ICICI.
So those with ICICI Bank pl get up tell them that you are going to transfer the loan and get interest reduced from them. The best way would be offcourse to switch over to a Public Sector Bank.