ICICI Bank Loans / response time / false promises
Hello all, I would like to express my concern over the very time consuming procedure I have gone through in applying for a Personal Loan from ICICI. I have applied for a loan from ICICI exactly 3 weeks back, the associates who were supposed to collect the documents were pretty fast in sending their people to collect all the documents on the same day of the application. Regarding who were they : I had received a call from ([protected]) Pooja asking if I wanted a loan. Their branch is located in Thane and that is all I know of them. It took them over 2 weeks to tell me that my loan has been approved, Finally they sent a man on 22nd to pick up 4 signed Cheques addressed to (ICICI Personal Loans) and some documents, on asking them when would I receive the loan amount they confidently said Tuesday 26th Dec 2006, I confirmed from the associate if they were confident and they said yes. Based on the commitment I received I gave a commitment to some vendors from where I was supposed to buy some articles and made a down payment.
Tuesday (26th Dec) arrived and the money was not transferred to my account, I called up the number mentioned above and they said that it will happen on Wednesday 27th Dec 2006 for sure. I Confirmed once again and they said 100% it will be transferred by Wednesday 27th Dec.
Wednesday (27th Dec) : The money was still not transferred and I called up the number again, they asked me to wait another day and that’s exactly what I did.
Thursday (28th Dec) : The money was still not transferred into my account and I called them up to inquire on what's the status of the loan because I had made some commitments to a vendor and I was falling short on my commitment. I called up and spoke to a lady who was trying to tell me to wait 2 more days, I was furious and asked to speak to the manager of that branch, she told me that he was busy in a meeting and I offered to wait, but she disconnected my phone. I called up again and they kept on answering and disconnecting my phone, this happened for at least 5 times before I gave up.
I called up the ICICI call centre to report the issue and after bouncing back between many call handlers I spoke to Vasundhra (Ext 4277 on the help line #) she offered to help me out with my issue and started following up with the required individuals. She told me that she will work on this and get the money into my account latest by Friday evening, I agreed and hung up the phone.
Friday (29th Dec) : Vasundhra called me up and requested me to send an email to both you guys as they needed to verify my official email address, which I did mins after speaking to Vasundhra, hoping the money would be transferred at least by Saturday 30th Dec.
Saturday (30th Dec) : The money was still not transferred and I called up the Thane Branch and they told me that I needed to call up the ICICI call centre. When I asked them to provide me with the file # they were not providing me with the file # and disconnected the phone. If I need to call the ICICI call centre they always ask me for a file # which I am not able to provide because I am not being given one.
To Sum it up in Short :
1) This has been the most frustrating journey for me in my entire career.
2) I have no clue about when the money is getting transferred and I have commitments to meet.
Questions : ?
1) Is this the Kind of Customer Service ICICI Bank believes in providing ?
2) Is the process so tedious and long to receive a loan amount ? If yes then why do you guys state quick approvals as a part of your selling criteria ?
3) Am I every going to receive the loan amount ?
4) If not then what is being done with the 4 cheques that I have given ?
I cannot stand this frustration any longer. Either ICICI Bank do what advertise or don’t do it all.
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