Complaint Details

Status	:	Closed
Complaint No	:	0015002/2014
Category	:	Banking
Date	:	20-02-2014
Subject Line	:	Loss of money caused by negligence
Complainant	:	Snehal Kale
Address	:	B-501, Haridham Complex, R. K. Singh Marg, Andher-E
Complainee	:	ICICI bank limited
Address	:

Complaint Details
Dear Sir,

I have a ICICI home loan LBBNG00000984801. For last few years there have been significant increase in the rate of interest in the home loan. ICICI did not inform me about these changes. I never received any correspondence neither via post nor via email from ICICI about these changes. Due to this I have lost a good deal of amount in interest rather then principle. Even after paying EMI's for more then eight years, my principle loan amount has merely dropped few thousand rupees, not even a lakh.
With a friends advice I initiated a request for reducing my rate of interest by paying some additional fee. For this I gave power of attorney in ICICI format to my father in Aug'2012. My father went to one of the ICICI branch to get the work done, what started after that was a long chain of follow ups with ICICI bank with no end result.
In the end, I had to travel my self just for this work in the Dec'2014. So I lost a large amount of money over this period in interest.
Attached are the list of correspondence's showing delays caused by ICICI employees giving wrong information, ICICI employees trying to sell services not necessary for ROI switch, delays in communication from ICICI side, etc.
One of the attachment has a subject "Home Loan ROI Switch & Liability Insurance Cover" which clearly shows mis-guidance by ICICI employees causing more delays, in-turn causing me more money.
I would request you to kindly take a look at this matter.

Best Regards,

Snehal

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