It has been a very pathetic experience since I have applied for a home loan from the ICICI home loan department. I have no idea if a customer has any value to your officials and whether they even bother to listen to them.
Being a NRI loan applicant, I got my loan amount sanctioned before I leave for India for a month long vacation, but I was not aware the consequences I will have to face for making that stupid mistake of choosing ICICI bank for home loan banker.
I was initially told that the disbursement process will take about 7 days (when I applied the loan from USA) and I do not require a co-applicant if I can provide you certain documents of my NRI Guarantor. But when I reached India and contacted my Credit Manager Mr. Tuhin Chakraborty, the story was completely different. He asked me to make a co-applicant mandatory (else I will have to provide financial details of my NRI guarantor except those which I provided earlier) and the disbursement process would take maximum 15 days (double the time that was earlier promised to me).
Here begins the story, the bank officials started asking for all sort of documents (much more than that was supplied in their booklet) from me and my builder. We have provided them all documents that they have asked. They wanted us to complete the initial agreement as without which the disbursement process can not be started, I finished the agreement and provided them the original documents (agreement and money receipt) without any written receipt from the bank (it seems they do not provide any official receipt while accepting those documents) which means if those documents are lost/misplaced by bank I have no right to ask those documents from them.
It was very unfortunate that even after all formalities are done bank official and specially my Credit Manager are denying me any written date when the loan can be disbursed. MOST PATHETIC SITUATION IS THAT MR. TUHIN CHAKRABORTY HAS STOPPED RESPONDING MY PHONE CALLS AND HE SENDS ME SMS (which is never an official mode of communication). They are telling me since last 8 days that it should be ready by tomorrow. I am not sure when that tomorrow will become today.
After 21 days of disbursement process I am still awaiting a definitive response from your esteemed department management.
What I have noticed so far: 1. No customer support 2. Inexperienced management methodologies 3. Lack of communication among the bank officials 4. None (including the Credit Manager) has clear idea about the whole process. Officials harass customers with documentation process without any idea about the usage and requirement of those documents. 5. OFFICALS DO NOT GIVE CONTACT DETAILS INCLUDING EMAIL AND PHONE OF SENIOR BANK OFFICIALS. I HAVE BEEN REQUESTING THE CONTACT DETAILS OF SENIOR MANAGER BUT UNFORTUNATELY NO ONE IN THE OFFICE PROVIDED ME ANY DETAILS. 6. There is no way of escalation of an issue to higher authorities.
I do not know if this letter has any value for your kind consideration, but the service I have received so far is completely unacceptable and unethical. Due to your fault I might have to loose whole agreement amount of Rs. 400000/- because I can not extend my leave any more. You people just ruined my vacation and my commitments to my family.
Can I expect some action from your part or can you please forward this to your higher officials?
