ICICI Bank PROMISES house loan in one week but it took me about 3 months going around the bank including Saturdays to get the loan sanctioned.
Once the processing fee is paid, the agents talk rudely and often they are not reached on their cell phones.
ICICI Bank INCREASES interest rates arbitrarily - currently 12.75% interest is charged on my home loan which is the highest by any bank in India. In less than 2 years my term increased from 12 to 26 years.
In one year the rate increased as follows
8.5% till June 2006
9.5% till Jan 2007
10% till April 2007
12% till July 2008
12.75% from August 2008
What’s happening - I decided to foreclose my loan account and transfer it to ANY other bank
ICICI Bank CHARGES 2.25% on outstanding principal upon foreclosure
ICICI Bank WEBSITE does NOT show amortization schedule in my loan account(I maintain my own excel sheet)
Summary: DO NOT TAKE ANY LOAN FROM ICICI BANK. IT IS A LEECH