Recieved an email from Head Quality Service

I recieved this email from Head Quality Service asking me to contact Ms. Mala Gupta, Area Operations Manager.

Step 2 : Complaint letter thru mail to Mr Avijit Saha

Step 2 : letter sent to Mr Avijit Saha thru post.

Step 1 : - Sent a mail to customer care

I had sent this mail to :

Customer care : customer.care@icicibank.com

Gaurav Bose (this ICICI guy duped me ) : gaurav.bose@icicibank.com

Prakash Sikri (this ICICI guy duped me ) : prakash.sikri@iciciprullife.com

Head Quality Service : headservicequality@icicibank.com

ICICI Complaint Grievance Redressal process

ICICI has given a link to their Grievance Redressal process at the location below, which is just a formality.

http://www.icicibank.com/pfsuser/customer/html/customer_carenew_v3.html

sent my first complaint to the Manager, ICICI Bank Pune

The Branch Manager, 9th May, 2009

ICICI Bank Limited

1194/8, Ramachandra Sabha Mandap,

Ghole Road, Shivaji Nagar.

Pune – 411 005

Subject: Home loan switch process clarification and related information required

please provide me the answer of the following:

1. Why there is the different between the switch process in Delhi and Pune? Delhi took

80 minutes and Pune took 1 month to do the same thing?

2. Since Pune took 1 month to process the switch, justify the interest on my loan and

principal outstanding I have to pay because of ur process. I was ready with the money

for the switch on 3 march and had you been initiated the switch process at that stage,

just like Delhi icici bank, I would have saved a lot of interest.

2. Why I have been forced to buy a ICICI pru ULIP of 40k? I can’t believe that to reduce

one liability I have to take additional liability of 40k for a whooping 19 years!!!!! Pls

provide me in writing the details of this scheme which is valid in Pune and not in any

other place. For that matter even the call center people are not aware of it because

when I call them and asked more about this scheme, they were clueless.

3. Why my loan account number has been changed whereas ICICI Delhi branch kept it

the same?

4. Why four blank checks (with no date and amount) has been taken from me and what

is the status of these checks?

5. How have you arrived at this figure of Rs 529588 for refinancing, it should be less. As

per my amortization schedule the principal balance till April, 2009 is Rs 522459 and till

May, 2009 is 524849. You have given a brand new figure of 529588 !!!!! pls explain???

6. How have you arrived at this figure of 2926 towards the switch fee? I have been told

by Gaurav that the charges were .5% of the outstanding principle so .5% of 529588 is

352648 and .5% of 522549 is 2612. None of them matched the figure debited from my

account.

7. My account has been debited of Rs 566 on 29 April, 09. My EMIs will start from May,

09 so what is this amount?

8. I have attached two letters sent by you with my comments, pls explain them.

I could have transferred the Pune home loan to Delhi and would have converted it in the

same fashion without paying forced ULIP and waiting for a month. Unfortunately, I

switched my Pune home loan first and then the Delhi one.

TILL DATE I HAVE NOT HEARD FROM THEM

How it all Started

I have a home loan in Delhi as well as in Pune and I wanted to go for a home loan ROI switch(converting from higher ROI loan to an existing ROI loan). Given below is the process of Home Loan switch at ICICI Home Loan Delhi Branch and Pune Branch.

---------------------------------------------

Pune (Shivaji Nagar) Branch:
---------------------------------------------

Process:

3 Mar,09 - The customer care executive asked me to buy a ULIP of 50000 in order to avail a loan switch. I was shocked and had an argument with him and soon I was directed to the manager (I forgot his name). He told me that as per the current scheme I have to pay 50K towards the ULIP to avail the loan switch. He introduced me to the home loan officer name Gaurav and he reduced the ULIP amount to 40K. He asked me to furnish many docs, I don’t even remember but I remember giving them a copy of my address proof as one of the many docs they asked for.

They made me fill the ICICI Pru ULIP forms and a check of 40K towards the first premium (paid via check no 116639).

They made me fill the loan agreement for the switch and asked for the following blank checks (with no date and amount).

4 April, 09 : It took them one month to process the whole thing, surprisingly they processed the insurance within 4 days and check was cleared in next day but for home loan switch they took their sweet time and finally on 4 April, 09 I called the customer care for the status and they confirmed the new loan no to me.

Home Loan Officer’s Name:
Gaurav Bose,
+91 99237 50346
Gaurav.bose@icicibank.com

ICICI Prudential Officer’s name:
Prakash Sikri,
+91 98817 34534
Prakash.sikri@iciciprulife.com

---------------------------------------------
Delhi Branch:
---------------------------------------------

Process:

May, 2009: The customer care executive asked me for a dully filled agreement, a 50 rupee stamp paper and a check towards the switch fee. I completed the formalities and he provided methe amount to be filled in the check. He issued me a receipt and every thing was done in 80 minutes flat. I was so impressed.

Pls Note :

è ICICI home loan delhi center did not ask for a blank check. They gave me an amount for the switch fee there and at that point itself.

è Apart from an agreement, a 50 rupee stamp and a switch fee check, NO other document was asked from me.

è They did not change my loan account number and when I asked if he will change it, he was kind of surprised n said why we will change the loan account number.

Why the same switch process is different in Delhi and Pune ? ICICI Pune is duping the home loan customer by forcing them ULIPs.


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