city bank recovery agents is calling me to clear 1195 dues. They insist the dues must be cleared.Is it a fair practice ?ABN amro sends the bill amount thru SMS the actual bill is not I am slapped with finance and late fee charges .I write to the IBa and RBI ,ABN AMRO redresses my grievance . Aitrel connection is not working .I go to NODAL officers and get my grivance redressed. Try cntacting any officer of ICICI bank on Telephone . I cn lay a bet that they will never come on line. The whole system is so ine sided that poor consumer does not know where to go and to do what.Similarly there are people who pay couple of installments and run away . A grievance redress mechanism ia s must .
RE:there is no redressal machanism
by Kovvali Muralidhar on Apr 27, 2008 08:36 PM
I fully agree.Law is ONESIDED and LOPSIDED in INDIA.Nobody gives you any reply.The bank to which you have applied for cc will not tell you the reason for rejecting your application.CIBIL ACTS AS A HOLY COW.IT SAYS IT WILL NOT GIVE YOU 'YOUR'credit information but will give to a lender only.It asks you to GO TO HELL ie ask the same cc company for reason for refusal.Meanwhile RBI make some noises and they are not heard nor acted on by these bloody banks.Why cant we have LEVEL PLAYING GROUND.WHY CANT WE GET OUR OWN CREDIT REPORT FROM CIBIL or from any others org?
RE:there is no redressal machanism
by ARTI CHITKARA on Apr 29, 2008 10:34 AM
i fully agree with you Citibank is the biggest chor they do not sent the cheks to the originating branch for clearence and assume that we will not check with our bank and tell us that the chek could not be credited due to date altercation. i took the chek to my bank which said that the chek was never presented. then they call up at odd hours to ask for the money. keep on calling till we relent and say achcha baba le jaao, at least we will not be troubled anymore HDFC says take a balance transfer at no extra cost and when yoy receive the chek from them, it is too late to pay the previous bill and when u call up to cancel, they ask for the processing fees chor to chor upar se chatur bhi
Most of the loans are taken when a person is in need of money.And its a phenomenon when you have to pay back whether its your friend or the bank you believe that you care cheated.So there is frictioon and one tends to avoid making payments.The other side of story is Banks have no fixed rates charges for each loan to all customers, so they try to make more money.So problem is at both ends.The only solution is when you take the card loan pls go through the agreement which only 1% of customers read.Make note at yourself of your charges etc. What banks can do is a get a signatures on all fee/ rates from customers so they kow what they have sold to the customer, he cannot deny.
I would be very apt if ICICI Bank renames itself as ICICI Bank. They are thugs. I wish to narrate my own experience so that it could be beneficial to others who have not yet fallen to their trap. Some 2 years back I was approached by a marketing executive of this Bank to open a savings bank account with them. To my bad luck I agreed and the account was opened. Since they service was horrible I returned back the unused cheques and debit card to their branch with a request to close the account. All these days I was under the impression that the account has been closed. But to my horror recently about one month back they have sent a statement that I owe them about Rs. 8,950/- on account of non maintenance of minimum balance and the account is still active. When I contacted their Customer Service (!)they sent an e-mail that they are helpless and I should contact the branch where the account was opened. As a follow up I sent a letter to their Vijay Nagar Branch, Bangalore -560 040 questioning them on what ground they have kept the account active. But till date I am yet to receive a reply from them.
So friends please be extra careful while dealing with this Maha Swindler Bank
RE:Swindler Bank
by mandook on Apr 27, 2008 01:39 PM
I sympathise withRavi. There are hundreds of Ravis who have had horrifying experience with this bank. I wonder why Ravi should not move the Banking Ombudsman in Bangalore and file a petition asking the Bank not to recover the amount from him and seek damages for Ravi's loss of sleep over the bank's unjustified demands. I also wonder why RBI is very soft with ICICI and HDFC Banks ; is it because that RBI lacks the will to proceed against these "powerful" banks who have got their connections with the bureaucrats and politicians in Delhi?
RE:RE:Swindler Bank
by Tabassum Javed on Apr 27, 2008 02:11 PM
Not to add to the woe that I am still paying with ICICI BAnk an interest of 11.5% on myu home loan when the interest rates have come down to 10% by other Banks Axis Bank). Even ICICI Bank is charging 10.25 / 10.5% from its new customers.
I hope RBI does take this unfair act of ICICI Bank also in cognizance.
RE:Swindler Bank
by Anshuman Srivastava on Apr 29, 2008 10:19 AM
Mine was 12% few days back but I transferred my home loan to HDFC bank at 10.25%. So folks, please move away from ICICI bank.
Dear all, its not that we all have bad experience. i have a personal loan from ICICI, due to some reasons i couldn't pay my installments on time, so far i have to pay them 5 installments , no one has called me or harassed me, all i got is couple of letter's from the bank.. yes odd cases are there.~ I udnerstand my credit history is screwed and i wouldnot be able to get a loan now.
Banks have two wings .One is marketing wing and another is operation.marketing people promise moon to the customer and forward their applications.the operating wing will make an detailed assesement and find that the customer is not eligible for the promised amount of loan. The friction between the potential borrower and banker starts at that point.This continues on and on and the borrower creates a negative impression about everything the bank does.A default in repayment of one or two instalments is not taken seriosely by the bank initially.when the calls are not responded,defaults mount the banker treats it seriousely.The basic reason for rising defaults are financial mismanagement by the borrower,underfinancing by the banking institutions etc.Hence both the banker and the borrower are equally responsible for the defaults and the resultant actions.A prudential finance palanning by the borrower and understanding the need of the customer while financing by the bank,will generate a healthy atmosphere and all this special acts by the RBI as contemplated now will not be required.
Now India specialises in loan recovery internationally..we have BPOs' specialising in loan recovery and if the recent report has to be believed it costs a fifth (of waht it is ub USA)for the Indian BPO to do the loan recovery..so much for the latest business opportunity..for guns they have their own university and school going kids
Me and my friends had a bizarre experience with the recovery agents of one of the first multi national banks to set up ATMs in Bangalore, the 'city' never sleeps???
Last year, it was a pleasant morning in our daily tempo traveller cab to office when one of the open top jeep full of goondas tried to overtake our vehicle, but failed to do so. Then at the next traffic signal, one of the goondas came down, assaulted our driver and pushed him in the side seat and started driving. We were taken aback by this incident and women colleagues started shivering...
it was a high drama for 20 minutes when one of the goondas told us to get down 1 km away from our office...and then drove the vehicle away with the driver...
Later on we found out that they were recovery agents of this bank, for which our driver hadn't paid 2 months of EMI.
Whose fault is it? And how many have to suffer because of one person's fault? And because of bank's bad practices?
What if the vehicle met with an accident in all the altercation? How many families would suffer?
RE:ICICI and HDFC - Worst Banks in India
by narendra on Apr 27, 2008 05:26 AM
I agree with u. I had lots of problem taking home loan with HDFC. They assured me 7 lack of loan when everything finalized they suddenly deducted 2 lack and gave me 5 lack only. I was in a fixed. I didn't have rest of the money to pay the owner. When I requested HDFC to look into the matter as I didn't have money they offered me personal loan. I refused it and somehow managed to arrange 2 lack from friends and relatives.
RE:ICICI and HDFC - Worst Banks in India
by Amit Kumar on Apr 27, 2008 09:42 AM
You cant compare ICICI Bank & HDFC Bank on the same page. HDFC Bank is class apart
RE:ICICI and HDFC - Worst Banks in India
by mandook on Apr 27, 2008 01:44 PM
They are birds of the same feather. I sent a cheque for Rs.286 odd to HDFC bank Hyderabad from Ahmedabad through a co-operative bank; the coop. bank charged me only rs.10 for this, but HDFC charged a hefty 90 ruppes out of Rs.286! The RBI is spineless!
RE:ICICI and HDFC - Worst Banks in India
by Singh SD on Apr 27, 2008 01:15 AM
I am in full agreement with you.Not only me but any person who has dealt with these banks echo same words .No doubt in turnover they may be No 1 or No 2 but as for as customer is concerned they just try to keep off from these banks.
RE:ICICI and HDFC - Worst Banks in India
by Ley DeFigs on Apr 27, 2008 11:30 AM
If customer goes below min bal HDFC should give notice, then close defaulter's a/c, instead of adding penalty month after month, and refusing to ack any letters from customer to close a/c.
RE:ICICI and HDFC - Worst Banks in India
by anand nair on Apr 27, 2008 12:16 AM
yes absolutely. one just finds himself in a jungle in these two banks. the bank employees here are just ignorant about you. and the impression on their face is as if they are dead or we are dead.
RE:ICICI and HDFC - Worst Banks in India
by Somnath Basu on Apr 27, 2008 03:12 AM
I don't know about HDFC. But definitely ICICI BANK is very dangerous. I haven't heard any good from anyone about ICICI Bank.
ICICI Bank is a big cheater. PLEASE AVOID ANY KIND OF LOAN FROM THIS BANK. THEY WILL HIDE YOU MANY THINGS AND WILL SNATCH MONEY LATER ON IN DIFFERENT WAY.
Recently I have taken Personal Loan (PL) from ICICI bank. They are charging service tax of 12.36% on the interest portion. But other banks are not charging any service tax on any EMI. ICICI bank are showing the principal & interest parts separately and therefore are charging ST on the interest. Other banks don't charge anything because there is only one EMI whch includes both.
ICICI bank could easily have charged the EMI altogether. But they are like BLOOD SUCKER. They charge interest and other charges wherever they can.
PLEASE AVOID ICICI BANK and also caution other friends.
RE:ICICI and HDFC - Worst Banks in India
by BLUE APPLE on Apr 27, 2008 09:17 AM
I agree with you man - they are blood suckers.
Here is info about the LATEST FRAUD SCHEME OF ICICI BANK.
If you have points in ur ICICI credit card - they will transfer it to IMINT without your approval.. Imint happens to be a company with major investement from ICICI.
Now comes the second part - when you go to redeem, you have to pay a joining fee of Rs 199. Just think - paying to get your own points redeemed.
Next - look at the prices of IMINT products: -https://imintpoints.com/i-mint/dealToMint.do?categoryId=1 TSONIC 1 GB player - Rs 2500, MArket Price: Rs 1600-1700.
Any product is atleast 40% expensive than the current market price. Check more details at http://www.consumercomplaints.in/complaints/icici-credit-card-c37705.html
There is only 1 way - surrender your cards, maintain ZERO BALANCE ACCOUNTS if you have them and make them suffer.
Regards,
DJ
Effectually they are making money because you have no other option but to redeem points.
Re: ICICI and HDFC - Worst Banks in India
by Asif Shaikh on Aug 01, 2009 04:08 PM
hdfs and icici they just have branches all over their phonebanking and netbanking is hopeless for any kind of changes u got to visit the branch its hopeless and helpless
I have gone through all messesages regarding home loan and personal loan. I personally feel peoples have a tendency to exagerate the things. It is not true that with only one or two EMI not paid, and banks start harassing. In the event of failure of one or two EMI's , normally bank first intimate over telephone, but it is expereince of many banks, after defaulting EMI , borrowere do not bother to contact bank, if they have any genuine difficulties to repay. These peoples even do not bother to attend the telephonic calls. I am a borrower of ICICI for home loan for last 4 years, and not having this kind of expereince. Also I am having credit card of HDFC bank, which is used very judiciously, and paying due bills in time, hence not faced any kind of harassment. What I fell it is the habit of defaulters to shout against banks. If any person do not have repayment capacity, then why they should avail loans. These peoples are adopting americal life style, spending more on credit more than income, and later on repenting. We should follow philosophy of mahatma gandhi, to keep our needs to minimum, so that one should nit get oppertunity to borrow.Peoples who are advocating to take loans from govt banks,want to get rid of repaying EMI , as the procedure of recovery of govt bank is slow as compared to pvt. bank. And lastly will govt banks waive loans, which we are talking. Let us study both the sides of coin and comest.
RE:'Can you please pay the bank dues, Sir
by Siva on Apr 27, 2008 03:30 AM
Dude, I have an ICICI credit card, which I had not used for 6 months. There was absolutely no balance outstanding. Then the bank started charging late payment fees and interest on God knows what . This has been going on for 6 months now and all my efforts to get it cleared are in vain. After a set of harassing calls, i threatened them about going to the police and told them to take their card back. There still is no reply. they really are horrible dude.
RE:'Can you please pay the bank dues, Sir
by arun shekar on Apr 26, 2008 11:01 PM
Well then you haven't faced incidences where these credit depart's do mistakes on billing part etc...Just cuz you didn't have a bad experience doesn't mean it does not exist. These are bloody hooligans who should be shot on sight, i would if i could.
It happened last month only.. i had changed my bank account in december and like an obedient borrower i sent the remaining cheques of my car loan along with a request letter to sent the old cheques back, and in april somebody comes shouting at the peak of his voice to take cash for the 3 months installment.. on verification i found out that all the three cheques were sent to my old account only.. i immediately caught hold of a police friend and a lawyer, went back home.. that guy got a dressing down of a life time from the policemen and in the end made the branch manager come down personelly to my house to apoligize.. My lawyer even kept a written statement from the BM and that recovery agent..
RE:Recovery Agents..
by anand nair on Apr 27, 2008 12:21 AM
they do the mistakes and it is we who have to pay. they should be called 'illogical banks' that house illogical employees.
