Hi , My purpose to share this experience is just to create consumer awareness.I was not aware , so I suffered. Here is my story : I applied for an ICICI Home loan few months back and my estimate was around 15 lacs which the agent said would be easily approved. I even got an approval letter for 15 lacs being sanctioned. So I signed the agreement and gave away 8000/- as processing fees. two days later I get a letter from ICICI that their Technical Committee has estimated my costs to be 11 lacs only , so I cant get more than 10 Lacs in loan. I am totally shocked. They are not ready to listen. Instead they ask me to withdraw my application if i dont agree but processing fee wont be refunded!!! I couldnt continue with such bank anymore. I opted for another bank and got a loan sanctioned worth 20 Lacs!! I am not here for its publicity, so not naming it. But i have heard a few cases like this where ICICI has duped its customers. If any of you have also suffered, kindly contact me so that we can together go to Consumer Court and put our case forward.
RE:My experience with ICICI Home Loan
by HEMANT PATKAR on Aug 13, 2006 03:26 AM Permalink
Hello Vikram,
I too had a bad experience with ICICI. As i was buying my a house for the first time and was not fully aware of the procedures of home loan i was misguided by one of the DSA of ICICI who assured me getting the required amount sanctioned by ICICI and asked me to deposit Rs 5000/- as processing fee.
Firstly i was given assurance of getting loan more of what i was expecting but when i did my registration and stampduty i was told that they wont give me loan beyong 8 lacs though my eligibility was comong to 14lacs only because i had shown my falt amount as 8.5 lacs and they said they will not go beyond 7 lacs for me. But the DSA only asked me to make an agreement of 8.5 lacs for my flat and after which he put up his hand and told me he cant do anything.
I then approached other bank who gave me the required amt but when i asked ICICI and the DSA for clarification all of them ignored me and also my 5000 Rs was gone for a toss.
Its almost 1 year now ... i read ur story now so just thought of sharing my bad experience with u which i had with ICICI.
RE:My experience with ICICI Home Loan
by Ravindranath Singh on Apr 12, 2007 12:46 PM Permalink
I was really shcoked to know that the ICICI Home Loans is offering different rates for employees of differnet TIER I companies which are having tie up with the MNC's of the salary acounts with ICICI too.They are offering the home loan rates for Corporate Empolyees also on par with the Noraml Process....
Re: RE:My experience with ICICI Home Loan
by Guest on Jun 28, 2009 09:08 PM Permalink
Hey never go for ICICI for any banking products ( Credit card, home loan, Savings acc) they are fraud and always have double standards of making money. once you become thei customer they start treating you very badly...I have heard and had very bad experiences with ICICI
