Hi All,
ICICI SUCKS BIG TIME !!!! I wish to warn all of you from taking any home loans from ICICI. I had applied for a home loan with ICICI. I have never seen anyone trapping the customer in a cheaper way than this. I had already done the registration of my property and hence I was already having all the property papers. Also my income was sufficient to get me a loan that I wanted. I had applied for a Loan of 10 lakhs and an amount no lesser than this was acceptable to me. I had made this fact clear to the ICICI agent. He asked me to hand over all the documents to him(The property as well as the income documents). He said that he would get back to me in a weeks time and would tell me how much amount of loan I would be getting. After a weeks time he came back saying that I will get a loan of 10 lakhs. I asked him specifically whether the loan amount he was talking about is a sanction amount or a disbursement amount(Sanction amount is the max amount u can get while disbursement amount is the actual amount that will be issued to you). He said positively that it was a disbursement amount.
My financial position was such that I couldnt have done without a loan amount of 10 lakhs, and since I had already registered the property by paying an amount, the builder was hurrying me to pay up the rest of it for which I was totally dependant on the loan. My aggreement value was of 8 lakhs while a seperate extra amenities document was of 3 lakhs, while the registration costed me 35,000 rs. Hence the total value was 11,35,000 rs. All these documents were given to the agent beforehand. Since he commited me for a loan of 10 lakhs, I asked him to process my papers. After a weeks time, he came back to me with a sanction letter which also quoted the same amount. So i signed it and he gave me the blank loan agreement to read and asked me to sign it and return within a day or so.
While going through the document, I had some doubts and happened to call up the guy for clarifications. I casually asked him that when will be the cheque of 10 lakhjs be released and he plainly said that I will not get a loan of 10 lakhs, but only of 8.50 lakhs!!! What a big cheat this company is !!! By this time my account was already charged for Rs.5621 of processing fees and since my money was stuck with them, it was very comfortable for them to say what they wanted to ...
The silly reason that he told me was that it is not in the company rules to fund the extra amenities at 100%. He said that its the companies policy to fund only 20% of that amount. Now what the f**k was he doing when the papers were given to him in advance? Didnt he go thru them and see what was his "COMPANies POlicy???" . Since that amount was not sufficient for me, I had to run around looking for another bank and had to go thru the entire process all over again. This not only caused delay in paying up the builder, due to which he threatened me to cancell the agreement, but I also lost the processing fees of Rs.5621.
From that time I am running around the Branch Managers and the foolish ICICI officers who admit that there is a mistake on their part; but not before aruging endlessly that nothing can be done. I have also raised a compalint with customer.care@icicibank.com (Compalint Number: SR1026158569) but nothing has happened in the past 2 months only endless series of one sided mails.......
I piece of advice for all of u ..... buying a home is a critical issue ... and so is ur hard earned money ..... DO NOT ..... I REPEAT DO NOT EVER HAND IT OVER TO IRRESPONSIBLE PEOPLE LIKE ICICI... THEY ARE CHEATS ... COMPLETE CHEATS ......
NEVER GO FOR A HOME LOAN WITH ICICI....... HUM HAIN NA ...(AAPKA PAISA LOOTNE KE LIYE !!!!) .. THAT IS WHAT THEY BELIEVE INpi....
ALL QUERIES AND SIMILAR INCIDENCES ARE WELCOME AT reachpranab@yahoo.co.uk or Pranab.Ghosh@barclaycard.co.uk
I am planning to file a case against them and preparing the files for the same..... thats all I can do now ....


Thanks,
Pranab.