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Complaint Details


Posted byRajeev Prasher 
Organization / Product Details
Organization Name
Product/Service DescriptionHome loan was taken. interest in sanction letter was different & actually charged is different and commitment was made but not given
Warranty StatusDo not know.
Complaint Details
Reason for ComplaintCustomer Service 
Complaint Rating8(in a scale of 1 to 10)
Name of the Company EmployeeMr.Nirpjit singh Branch manager 
Complaint Details

This is in reference to Hoam loan sanctioned to me.My loan account no: LBCHD00001587535
Hope you remember we had one to meeting at your office around 8.00 pm
I had two request
1. 10.5 % interest
2. 0% charges on complete loan account closure with any precondition.
Same was also offered to me by HDFC bank without any pre-condition at that moment of time..

Next day i received a call from Mr. Amit sehgal that you put a request in the mail forwarded to you.
After two days Mr. Praveen kumar, loam officer called me up & confirmed me that your request has been accepted & you will get the fresh sanction letter.

Fresh sanctioned letter was handed over to me by Mr. Pravin kumar where on the letter it was written:

1. Rate of interest was 10.5% ( OK)
After loan disbursement on 23rd Nov,2007, letter was issued to me with details of Pre EMI & EMI with the interest rate of 11.25%.
Same was rectified by Mr. Amit sehgal to 10.5%
Pre EMI interest for November which was calculated on 11.25% was automatically deducted from my account on 1st Dec. Matter has been taken up with operations( Ms. Milli) for rectification.

Further I had opted for cycle of Ist of the month for the EMI payments but sorry to say it is given by the bank for 10th of the month.Matter has been taken up with operations( Ms. Milli) for rectification.

2. Fee on full & final repayment: On the letter it is written 0% on amount prepaid and on all amounts tendered by the borrower towards prepayment of the loan during the last one year from the date of final prepayment.


At the time time of approval it was clearly communicated that 0% to be paid toward complete closure of the loan account without precondition since it was also offered to me by the HDFC bank otherwise I would not have taken loan from ICICI bank. It was also confirmed by Mr. Pravin that all your request is approved.
When I called up Ms. Madhur(customer relation) she refused it is not as per policy. After 15 minute she called back & told we will re-issue with the correction that it will be valid only to the Reliance employee. As per our meeting it was nothing to do with the reliance employee. Everobody knows that person can not be with Reliance for 15 years. This amounts to unnecessary putting rider or precondition after agreeing to my request.

This is clear violation of the agreed terms & harrasment of the customers on one account or the other for geeting the things rectified
Request you to look into & revert. 

Solution of your complaintTo what was commited at the time of sanctioning of loan & interest rate charged & santioned be rectified immediately. 
ActionRserve Bank of india 
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