I am existing home loan customer of a ICICI bank. But it’s beyond my understanding why ICICI bank keeps high interest rate for existing customers which is above 12% for the last one year where as for the new customer it is only 10%. In the case of rising interest rate they raise twice time in a month as per RBI increases CRR, however for lowering it as per RBI decreases CRR they said that it could be possible only after the 6 month and even after the 6 months passes they simply replied that we weren’t going to make any downward revision in the interest rate. What a jokes!!! This is really very frustrating situation for me.
They are only earning lot of profit by s*cking blood of common people; they have no morale right to continue as a bank. Every bank lowering interest rate of home loan for existing as well as for new customers but ICICI bank is an exception. Even HDFC bank reduced interest rate instantly when they introduce a new rate for new customers. We should rise voiced against them from every resource like media and court.
I think RBI has no control over these Private Banks. I am looking for switching my home loan to any PSU or HDFC bank; there is a clearly 2% difference in home loan Interest rates.
In the short way ICICI isn’t prompt in passing benefits to their customer and always prompt in increasing the lending rates or earning profit. This is definitely not good news for ICICI customers.
I am extremely happy to say that I had transferred my home loan to SBI, without much effort and problem. In this bank my tenure will 15 year as comparison to ICICI bank where my tenure was 35 year.