India - 400051
On continuous follow-up of ICICI Bank I have recently gone in for two balance transfers of Rs.33,000 and Rs.22,000 for paying off outstandings against two of my citibank credit cards.
I was assured by the customer service representative that the amount will not attract any interest for 3 months and there will not be any processing fees.
To my surprise, I find that ICICI has charged Rs.500 and Rs.440 - Total Rs.940 as processing fees. On contacting customer service, I find that they are not able to help and refuse to take any corrective action. Stay away from ICICI Bank!
I visited the Bund Garden branch, of the ICICI Bank in Pune to open an account as an NRI needing a Credit Card. The information that is given is only half true and you only discover this after you have parted with your hard earned dollars.
You lose about 8% in the exchange rate as soon as you open the account, considering the best they can offer is about 5.33% per year you have already lost 1 1/2 years interest in a couple of seconds. The minimum amount to open the account is $400. Then you find out that you as an NRI from USA (other country NRI's are exempt)can only invest your account money in Mutual Funds of their choice, with a recurring deposit of Rs.100,000(about $2500)per year for 3 years. You have no say in the matter if their Mutual Fund goes South and you begin losing your Principal, you would still be forced to keep paying $2500 per year for 2 more years. THERE BROCHURE DOES NOT MENTION THIS FACT AT ALL AND IS FRAUDULENT AND MISREPRESENTATIVE OF THE TRUTH. They should be sued on just this point alone.
They have yet another clever scheme/scam where you are led to believe that the funds in the above account can be put in a "Special" High Interest (8.5%)earning vehicle only to learn that you would have to add another $9600 to the above account to avail of this scam (always losing a "measly" 8% in the exchange rate of course).
Now, after all this as if this is not enough already, to get a Credit Card you have to open another Fixed Deposit (CD) account with a minimum balance of Rs.100,000. Within 5 minutes of learning the facts I asked that my application for opening the account be canceled and that my amount be returned to me. NO WAY JOSE!! You are now the victim of the ICICI System. You will now have to wait a week so that the account can be ACTIVATED before you can DE-ACTIVATE it.
Can you believe this cr*p!!
NRIs in the USA you don't know how good you have it in the US. The service here SUCKS!! and the ###s who run this business here try to make you feel that they are doing you, the CUSTOMER, a favor. Things have not improved here in this part of the world no matter what they say in the News. This attitude, the bureaucracy and red tape along with the corruption will keep India in a rut long after all the other developing countries in Asia have left us in their dust.
WAKE UP INDIA!!!!
The officers(?) who subjected me to this unforgettable experience were Ms.Arti and one other who gave me a card bearing the name Yatin Gupta, Branch Manager.
The UBP form wasn't filled by me and some ICICI executive has done forged signature of mine on the form. I am not sure how did he get my LIC Policy Number. I have written a mail to ICICI bank, but there is no reply so far. Never trust ICICI Bank!
I bought Tata Indica from Deepti Gupta and got the same registered in my wife's name Shailaja Rallapalli. The motor insurance lapses on 21st December 2006. Hence i went to the Icici Lombard office at Punjagutta(Hyderabad,india) on 18th December 2006. Spoke to Mr Siddharth(Manager), gave him the new RC copy on my wife's name,filled an application form to transfer the insurance on to my wife's name, made the payment of Rs 10100 through my HDFC credit card. Iwas promised that the insurance will be sent to my address in 2 days. I waited for 10 days and contacted Mr Siddharth on [protected]. Iwas informed that it was given to the agent Mr Ramesh. Th agent visited my place on 26th December and handed the cover note on my wife's name. After waiting for another 6 days i contacted the agent. I was informed that the policy was issued in the name of the old owner Ms Deepti Gupta. I called the help line and raised a complaint with request # [protected] and was informed that the policy is still in the name of Ms Deepti Gupta. I called up Mr Siddharth who claimed that it is impossible that the policy is still in the name of Deepti Gupta because he already made necessary corrections. Later i was informed by Mr Siddharth that the policy is in the name of Ms Deepti Gupta because the file with transfer application and RC was sent to Mumbai office and the operations department lost it/misplaced it. An agent was sent to my place and i gave 2 more copies of the RC to the agent clearly informing if one is lost the other will again help in speedy delivery of my policy. I again contacted the agent Mr Ramesh, Mr Siddharth and the help line regarding the policy on 10th January 07. Help line associate asked me to get in touch with the local branch. The agent asked me to wait for 1 more day. Mr Siddharth calld me to inform that he is dispatching the policy through DHL couriers on 11th January 07 and asked me to provide another RC copy for Auditing. I was very sure that the policy was not dispatched and asked Mr Siddharth to provide that airway bill # and the couriers telephone number, which Mr Siddharth was reluctant to do so. Later he agreed that he lied regarding the dispatch of the policy. So after paying the amount on 18th december 2006, i am still waiting for my policy even on 12th january. If the concerned authorities are checking this, contact me to hear some words from me.
Here is the interesting story.
- I applied for housing loan (Fixed interest rate) and got an approval for 7.75% (Year 2004). Bank asked me to send the documents that I did. ICICI guy delayed sending the form (that I was suppose to fill for disbursement).
- Bank said as there is already 31 days between approval and disbursal so you need to renegotiate the loan. New interest rate: 8.25%.
- I got the first disbursal (against construction) on 8.25%
- time came for second disbursal and I wanted an additional loan for 2 lacs. I asked the marketing guy whether you can increase the amount. He said yes he can and would be approved on the same interest rate (8.25%)
- Forget the additional amount when I got the disbursement of second installment (Remember fixed interest rate and not the floating); I got a letter from ICICI that new amount is disbursed at 9.5%
- When I called Marketing Guy; he passed my call to their operations guy and he just refused that Fixed rates are on fixed interest rate and did show any inclination of honoring commitment given by his marketing guy.
- My Experience: Last time I tried Corporation bank for my Car loan. Considering my experience I can safely say; Public sector banks are most under rated banks and are not that bad as we think. Private banks: I am not sure about others but ICICI - Sucks- Most aggressive, unreliable, no-commitment bank in India. Their "Hum Hain Na" advertising campaign looks joke to me.
- My Resolution: Close all the relationship I have with ICICI - ASAP.
I have applied for a home loan through ICICI Bank during Nov'06. I was contacted by one Mr.subramanian ...
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.
Re: icici bank To the manager Personal loan dept Icici bank Self azad contacted by one your staff m...
I have a savings account with Mira Road Branch. My father who passed away on 4th Feb 2001, possessed a credit card of ICICI Bank. On 15-Dec-2006 (approximately 6 years after my father's death) my above account account was debited by Rs. 18,934.
When I contacted ICICI Bank helpline on 15-Dec-2006, savings bank account department asked me to contact credit card department. Credit card department told me that the payment wasn’t reflected in the credit card account, and I was asked to contact them next day.
I called ICICI bank helpline again on 16-Dec-2006 and spoke to a Customer Service Manager Mr Ketan Raul. Ketan gave me phone numbers of Collection Department managers and asked me to contact them (numbers given to me were: 022-[protected] of Bhavin Parekh and 022-[protected] of Pavan Laddha).
After continuously trying the numbers of collection team for two hours after speaking to Ketan Raul (9:30 - 11:30), I was unable to get through. So I contacted Ketan again to ask if there was any other way around to get in touch with Collection team. But Ketan avoided my call twice.
Meanwhile, I spoke to another manager named Priyanka Kokitkar. She assured me that she will get in touch with the collection team and let me know the status by afternoon.
When I didn’t get any call till the evening so I contacted ICICI bank helpline again and spoke to another manager named Piyush Rathore. He refused to take any responsibility. So I had to speak to his manager Mr Amit Shah.
Amit told me all this happened because it was a Saturday and he will get in touch with the collections team on Monday 18-Dec-2006 and give me solution on Monday evening latest. But I didn’t get any call from anyone and I have been trying their numbers all day long continuously.
ICICI bank stole money from my account for the credit card which doesn’t belong to me. Nobody takes any responsibility of their actions, leave alone giving explanation or intimating me before debiting my own account.
I have been given credit card by ICICI Bank.After some days I recd a Medical Insurance from ICICI lombard covering the Hospitalisation Expenses. I talked to Customer care at lucknow and informed that I am working with L&T and such scheme is already available with me so I don't require this please cancel as it has come to me without my requirement, They canceled it .After words I recd another policy at my home at Kanpur with the same specification , I was Stunned because few days back only I Have cancelled the previous one,. Once again I talked to Customer care and cancelled the Policy.
I have debited with some amount in my Credit card but given credit for approx 25% less in both the cases.
Now ICICI is behind me for the payment. I told them all the facts made the detail working also but all in vein .There is no one who can help me in this small case.
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