bssunilreddy
Keymaster
After submitting the KYC papers, somebody from the branch you are opening will come for verification.
They usually ask for the original aadhar card.
Which bank to choose for Savings account?
- Thread starter m-jeri
- Start date
- Status
They usually ask for the original aadhar card.
^ The guy who comes does the paper work there itself, technically you can receive amount in your account within 2hours of E-KYC.
bssunilreddy
Keymaster
Have heard that Citibank is good as long as you have a salary account, a general savings bank account demands you maintain a ₹1 lakh minimum balance, which I'm guessing isn't an option unless you're super loaded
Please read the below, then think twice about ICICI. It is a really bad bank:
It, is part of a mail log I kept with ICICI. I have edited out personal numbers, and accounts numbers. Basically it clearly highlights the unprofessional behavior of ICICI and its subsequent employees thereon it's operating mechanisms. I have thus, disengaged from ICICI -- and moved my salary A/C to SBI.
Hi xxxxxx,
I am writing this mail to you as a last and final resort regarding a Home Loan Process.
To summarize (and you can read the chain mail below):
I have been sanctioned a home loan (Balance Transfer – ARHL) from ICICI Bank. I would like to highlight some issues which I faced in the process, which have been extremely unprofessional and dishonest on ICICI Banks part.
1. I had agreed for a loan of RS. 75,80,000, which is the amount I needed to transfer the loan from my existent bank to ICICI. When I received the Welcome Letter from ICICI the sanctioned amount was 79, 30,000. I immediately raised this concern to Mr. xxxxxx xxxxxxx, but I have not received any response from him.
2. The Welcome letter mentioned a rate of 9.40%, when I had been promised a rate of 9.35%.
3. The Welcome letter had a calculated monthly EMI of RS. 73,401 calculated on the full amount of 79, 30,000.
4. The Welcome letter had a calculated pre-EMI of RS. 12,424 calculated on the full amount of79, 30,000.
5. The extra RS. 350, 000 that was added to the sanction amount, is an INSURANCE POLICY which I never agreed for. Only an ICICI sales representative called me to explain about the policy, and I categorically refused the policy, but it was still added on. I did not sign any INSURANCE POLICY documents, nor did I ever over the phone/email channels agree to this policy. Also the sales agents: Mr. xxxxxx xxxxxxx - xxx Capital (mobile: xxxxxxxxxx) and xxxxxx xxxxxxx – xxx Capital (mobile: xxxxxxxxxx) never mentioned to me that an Insurance Policy is also being attached to my Home Loan.
6. On the 3rd of August a sum of RS. 5865 was deducted from my salary account by ICICI.
7. On the 3rd of August a sum of RS. 5750 was deducted from my salary account by ICICI.
8. Aforementioned articles (6) and (7) were later told to me (when I asked) that this is a processing fee. I had been told at the time of signing the documents, that there would be no processing fee. I was also not told that these charges would be deducted.
9. On the 5th of August a pre-EMI of RS. 12,424 was deducted from my salary account.
10. My loan has not been disbursed to my lending bank, because I refused to do so, due to all of the above. The cheque is still with ICICI. This has been confirmed to me.
This has happened in the past month(s):
I was told to mail xxxxxx xxxxxxx about this. I did, but got no response. So I visited the ICICI Loan Office to meet xxxxxx (6th August), but he was not there. He coordinated with the security guards, and had me meet xxxxxx xxxxxxx. I told all the above to xxxxx, and he committed that on Monday (8th August) the loan will be cancelled, and I will get all deductions back. He took a receiving from me (document attached) and appended it with his signature and employee code. He told me this is enough to cancel the loan with all refunds.
On the 8th of August, xxxxx of XXX called me, and said that xxxxxx xxxxxxx would like to meet me in person. He also said, that the loan cancellation process has been started, and it is part of protocol to meet the client, so xxxxxx xxxxxxx wants to meet me. I agreed. On the 9th of August I meet xxxxxx xxxxxxx, xxxxxx xxxxxxx, and xxxxxx xxxxxxx, along with an ICICI employee from the ICICI Prudential division, at Cyber City, near my office. They tried to convince me to carry on with the loan. I refused, and xxxxxx xxxxxxx committed that in 1-2 days, my loan would be duly cancelled, and he himself would drop me a mail. And I would get all deductions back in my salary account.
No communication came through from ICICI on the 10th of August. On the 11th of August, I personally called up xxxxxx xxxxxxx and he concurred that by the evening of 11th August, I would get intimation that my loan has been cancelled. I did not get any such mail. On the 12th I dropped another mail (which is below), and did not get any response. Since Friday (including today), I have called up xxxxxx xxxxxxx many times, but he does not pick my call. He once replied with an SMS and said "please sms". I told him to tell the status of the loan, but he did not reply. I also asked xxxxxx xxxxxxx for xxxxxx xxxxxxx's mobile, but I got no reply. xxxxxx xxxxxxx refused to give me xxxxxx xxxxxxx's mobile number, and said he can give me his land line number, but he did not.
On the 17th of August finally Mr. xxxxxx xxxxxxx dropped me a mail (after I called him multiple times, and he did not pick my call) -- that my loan would be cancelled in 10 working days.
On the 25th of August I asked Mr. xxxxxx xxxxxxx about the refunds, he told me to contact Hxxxxx xxxxxxx. I wrote her a mail on the same day. I got no reply from Hxxxxx.
On the 29th of August I again sent a mail. Hxxxxx replied that she would update me in 4 days.
On the 2nd of September I sent another mail to Hxxxxx xxxxxxx. I got no reply.
On the 2nd of September, I had a telephonic conversation with Hxxxxx xxxxxxx. This is what transpired:
1. Hxxxxx mentioned that the auto EMI scheduled for 5th of September would go ahead. She has no power to stop this.
2. I asked what can be done. She told, tell your bank, not to honor the EMI. When I told her, my bank is ICICI only, she was speechless.
3. Hxxxxx as a point of resolution told me: "I understand how you feel about an EMI being cut, for a cancelled loan".
4. I asked her, why you did not tell me about the EMI being cut, she replied "I was about to call you".
5. I asked her, if I remove the funds from my deduction account, will the EMI auto cancel. She said this is fine, do this.
6. I asked, if I put in funds after the 5th in my account, will they be deducted. She said it would not.
7. Hxxxxx said: by Monday the 5th, loan would be cancelled, and ICICI would update me.
8. Hxxxxx also mentioned, that she is not my relationship office for the loan. When I call up the customer service, they mention her name on record as my relationship officer.
On the 6th of September I again sent a reminder mail to Hxxxxx. No update had come.
On the 7th of September I again sent a reminder mail to Hxxxxx. No update had come. I received a reply, saying loan will be closed shortly.
On the 9th of September I transferred INR. 1000 to my account. It was immediately deducted as an EMI by ICICI auto debit.
On the 12 of September I spoke to Hxxxxx and told her about the INR 1000 auto debit. Had dropped her a mail regarding this. She said on the phone, that it is impossible for this to happen. I sent her a statement. She said she would get back in an hour. She did not. I tried numerous times to contact Hxxxxx on phone, but she did not respond. Finally in the evening around 5:30 PM, she replied via email, saying loan will be closed in two working days.
On the 15th of September I sent two mails to Hxxxxx asking about the loan cancellation process. Did not receive any reply or call back.
On the 16th of September my salary account went into a minus of INR 71,000.00. Any money I am receiving in this account is locked. I am not able to withdraw it and/or transfer it to another account, electronically. I sent three mails to Hxxxxx regarding this. I also called Hxxxxx two times, but she did not pick my call, and the second time cut my call. Hxxxxx, called me back before lunch, and sent a mail stating that the disbursement has been cancelled, and the loan cancellation has been initiated. She also sent a statement of the loan. Hxxxxx, requested for my bank statements showing the deductions done. I mailed it to Hxxxxx. The lien holding of INR 71,0000 on my account was also removed.
On the 19th of September I sent a mail to Hxxxxx requesting an update. No reply.
On the 20th of September I sent two mails to Hxxxxx, got no reply. Finally got a reply, that the cancellation process and refunds will take 12 working days.
On the 27th of September received a refund of INR 12849.
On the 12th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 13th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 14th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 17th of October I sent a follow up mail asking the status of the loan cancellation. Called up Hxxxxx on her cell. She said she would revert back to me on mail, by end of day, and the cancellation will take 2 more days. No reply came in.
On the 18th of October I sent a follow up mail asking the status of the loan cancellation. Hxxxxx replied, it will take four working days.
On the 24th of October I sent a follow up mail asking the status of the loan cancellation. Hxxxxx replied: that the loan has been cancelled. She mentioned, that the refunds will come in three working days. I sent a follow up mail, asking if I will get any official documentation stating that the loan is cancelled, and I hold no liability towards ICICI. No reply.
On the 27th of October Received a refund of INR 10,865.00.
On the 2nd of November I sent a mail to Hxxxxx for the final statement and NOC for the loan. Got an email with account statement, stating that the loan has been cancelled.
Please can you advise what can be done around all this. I clearly do not want to carry on with ICICI Bank for this ARHL transfer, and I have multiple times stated this, but nothing is being done. I am extremely disturbed as an end-consumer of ICICI and no support is being provided by the bank.
Also:
I wish to highlight the extreme unprofessional behavior of the following people:
1. XXXXX xxxxxxx -- Never replies to mails, and his commitments are fallacious. Even after I met him in person.
2. XXXXX xxxxxxx -- Does not respond to mails and phone calls. Does not complete an agreed upon process even after taking an official receiving, signed with his employee code.
3. XXXXX xxxxxxx (XXX - Vendor) -- Lied to me about the loan process/processing fees/insurance policy, and got the cheque made in an incorrect amount without my knowledge and/or consent.
4. XXXXX xxxxxxx (XXX - Vendor) -- Lied to me about the loan process and was offering to reimburse me with the loan processing amount from his own pocket. Is that even legal..?
5. Hxxxxx xxxxx -- I have been in email/phone correspondence with her. She is extremely unprofessional in her approach. I have highlighted above my interactions with her. Also attached is a mail in reverse chronological order, which you can follow. She does not pick up phone calls, nor does she reply to mails.
Basically I feel, using a conniving and deceitful manner has been exercised to sanction a loan against my name, and now ICICI is refusing to cancel it. I have not done the ARHL transfer, so as of now there are two loans against my name. Deductions are continuing to happen on my account, without me using the loan.
Deductions:
1. 03/08/2016 - Cheque # xxx - INR 5865
2. 03/08/2016 - Cheque # xxx - INR 5750
3. 05/08/2016 - Automatic Debit - INR 12424
4. 09/09/2016 - Automatic Debit - INR 1000
Refunds:
1. 27/09/2016 - credit to salary account - INR 12849.
2. 27/10/2016 - credit to salary account - INR 10865.
Attachments:
Chain mail conversation with xxxxx.
************************************************************
So basically if you want to enter the black-hole of ICICI, you all are welcome to do so. It will all work superbly and dandy. Once you want to eject, the cesspool will not let you. It is a bad, unprofessional bank. Period.
It, is part of a mail log I kept with ICICI. I have edited out personal numbers, and accounts numbers. Basically it clearly highlights the unprofessional behavior of ICICI and its subsequent employees thereon it's operating mechanisms. I have thus, disengaged from ICICI -- and moved my salary A/C to SBI.
Hi xxxxxx,
I am writing this mail to you as a last and final resort regarding a Home Loan Process.
To summarize (and you can read the chain mail below):
I have been sanctioned a home loan (Balance Transfer – ARHL) from ICICI Bank. I would like to highlight some issues which I faced in the process, which have been extremely unprofessional and dishonest on ICICI Banks part.
1. I had agreed for a loan of RS. 75,80,000, which is the amount I needed to transfer the loan from my existent bank to ICICI. When I received the Welcome Letter from ICICI the sanctioned amount was 79, 30,000. I immediately raised this concern to Mr. xxxxxx xxxxxxx, but I have not received any response from him.
2. The Welcome letter mentioned a rate of 9.40%, when I had been promised a rate of 9.35%.
3. The Welcome letter had a calculated monthly EMI of RS. 73,401 calculated on the full amount of 79, 30,000.
4. The Welcome letter had a calculated pre-EMI of RS. 12,424 calculated on the full amount of79, 30,000.
5. The extra RS. 350, 000 that was added to the sanction amount, is an INSURANCE POLICY which I never agreed for. Only an ICICI sales representative called me to explain about the policy, and I categorically refused the policy, but it was still added on. I did not sign any INSURANCE POLICY documents, nor did I ever over the phone/email channels agree to this policy. Also the sales agents: Mr. xxxxxx xxxxxxx - xxx Capital (mobile: xxxxxxxxxx) and xxxxxx xxxxxxx – xxx Capital (mobile: xxxxxxxxxx) never mentioned to me that an Insurance Policy is also being attached to my Home Loan.
6. On the 3rd of August a sum of RS. 5865 was deducted from my salary account by ICICI.
7. On the 3rd of August a sum of RS. 5750 was deducted from my salary account by ICICI.
8. Aforementioned articles (6) and (7) were later told to me (when I asked) that this is a processing fee. I had been told at the time of signing the documents, that there would be no processing fee. I was also not told that these charges would be deducted.
9. On the 5th of August a pre-EMI of RS. 12,424 was deducted from my salary account.
10. My loan has not been disbursed to my lending bank, because I refused to do so, due to all of the above. The cheque is still with ICICI. This has been confirmed to me.
This has happened in the past month(s):
I was told to mail xxxxxx xxxxxxx about this. I did, but got no response. So I visited the ICICI Loan Office to meet xxxxxx (6th August), but he was not there. He coordinated with the security guards, and had me meet xxxxxx xxxxxxx. I told all the above to xxxxx, and he committed that on Monday (8th August) the loan will be cancelled, and I will get all deductions back. He took a receiving from me (document attached) and appended it with his signature and employee code. He told me this is enough to cancel the loan with all refunds.
On the 8th of August, xxxxx of XXX called me, and said that xxxxxx xxxxxxx would like to meet me in person. He also said, that the loan cancellation process has been started, and it is part of protocol to meet the client, so xxxxxx xxxxxxx wants to meet me. I agreed. On the 9th of August I meet xxxxxx xxxxxxx, xxxxxx xxxxxxx, and xxxxxx xxxxxxx, along with an ICICI employee from the ICICI Prudential division, at Cyber City, near my office. They tried to convince me to carry on with the loan. I refused, and xxxxxx xxxxxxx committed that in 1-2 days, my loan would be duly cancelled, and he himself would drop me a mail. And I would get all deductions back in my salary account.
No communication came through from ICICI on the 10th of August. On the 11th of August, I personally called up xxxxxx xxxxxxx and he concurred that by the evening of 11th August, I would get intimation that my loan has been cancelled. I did not get any such mail. On the 12th I dropped another mail (which is below), and did not get any response. Since Friday (including today), I have called up xxxxxx xxxxxxx many times, but he does not pick my call. He once replied with an SMS and said "please sms". I told him to tell the status of the loan, but he did not reply. I also asked xxxxxx xxxxxxx for xxxxxx xxxxxxx's mobile, but I got no reply. xxxxxx xxxxxxx refused to give me xxxxxx xxxxxxx's mobile number, and said he can give me his land line number, but he did not.
On the 17th of August finally Mr. xxxxxx xxxxxxx dropped me a mail (after I called him multiple times, and he did not pick my call) -- that my loan would be cancelled in 10 working days.
On the 25th of August I asked Mr. xxxxxx xxxxxxx about the refunds, he told me to contact Hxxxxx xxxxxxx. I wrote her a mail on the same day. I got no reply from Hxxxxx.
On the 29th of August I again sent a mail. Hxxxxx replied that she would update me in 4 days.
On the 2nd of September I sent another mail to Hxxxxx xxxxxxx. I got no reply.
On the 2nd of September, I had a telephonic conversation with Hxxxxx xxxxxxx. This is what transpired:
1. Hxxxxx mentioned that the auto EMI scheduled for 5th of September would go ahead. She has no power to stop this.
2. I asked what can be done. She told, tell your bank, not to honor the EMI. When I told her, my bank is ICICI only, she was speechless.
3. Hxxxxx as a point of resolution told me: "I understand how you feel about an EMI being cut, for a cancelled loan".
4. I asked her, why you did not tell me about the EMI being cut, she replied "I was about to call you".
5. I asked her, if I remove the funds from my deduction account, will the EMI auto cancel. She said this is fine, do this.
6. I asked, if I put in funds after the 5th in my account, will they be deducted. She said it would not.
7. Hxxxxx said: by Monday the 5th, loan would be cancelled, and ICICI would update me.
8. Hxxxxx also mentioned, that she is not my relationship office for the loan. When I call up the customer service, they mention her name on record as my relationship officer.
On the 6th of September I again sent a reminder mail to Hxxxxx. No update had come.
On the 7th of September I again sent a reminder mail to Hxxxxx. No update had come. I received a reply, saying loan will be closed shortly.
On the 9th of September I transferred INR. 1000 to my account. It was immediately deducted as an EMI by ICICI auto debit.
On the 12 of September I spoke to Hxxxxx and told her about the INR 1000 auto debit. Had dropped her a mail regarding this. She said on the phone, that it is impossible for this to happen. I sent her a statement. She said she would get back in an hour. She did not. I tried numerous times to contact Hxxxxx on phone, but she did not respond. Finally in the evening around 5:30 PM, she replied via email, saying loan will be closed in two working days.
On the 15th of September I sent two mails to Hxxxxx asking about the loan cancellation process. Did not receive any reply or call back.
On the 16th of September my salary account went into a minus of INR 71,000.00. Any money I am receiving in this account is locked. I am not able to withdraw it and/or transfer it to another account, electronically. I sent three mails to Hxxxxx regarding this. I also called Hxxxxx two times, but she did not pick my call, and the second time cut my call. Hxxxxx, called me back before lunch, and sent a mail stating that the disbursement has been cancelled, and the loan cancellation has been initiated. She also sent a statement of the loan. Hxxxxx, requested for my bank statements showing the deductions done. I mailed it to Hxxxxx. The lien holding of INR 71,0000 on my account was also removed.
On the 19th of September I sent a mail to Hxxxxx requesting an update. No reply.
On the 20th of September I sent two mails to Hxxxxx, got no reply. Finally got a reply, that the cancellation process and refunds will take 12 working days.
On the 27th of September received a refund of INR 12849.
On the 12th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 13th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 14th of October I sent a follow up mail asking the status of the loan cancellation. No reply.
On the 17th of October I sent a follow up mail asking the status of the loan cancellation. Called up Hxxxxx on her cell. She said she would revert back to me on mail, by end of day, and the cancellation will take 2 more days. No reply came in.
On the 18th of October I sent a follow up mail asking the status of the loan cancellation. Hxxxxx replied, it will take four working days.
On the 24th of October I sent a follow up mail asking the status of the loan cancellation. Hxxxxx replied: that the loan has been cancelled. She mentioned, that the refunds will come in three working days. I sent a follow up mail, asking if I will get any official documentation stating that the loan is cancelled, and I hold no liability towards ICICI. No reply.
On the 27th of October Received a refund of INR 10,865.00.
On the 2nd of November I sent a mail to Hxxxxx for the final statement and NOC for the loan. Got an email with account statement, stating that the loan has been cancelled.
Please can you advise what can be done around all this. I clearly do not want to carry on with ICICI Bank for this ARHL transfer, and I have multiple times stated this, but nothing is being done. I am extremely disturbed as an end-consumer of ICICI and no support is being provided by the bank.
Also:
I wish to highlight the extreme unprofessional behavior of the following people:
1. XXXXX xxxxxxx -- Never replies to mails, and his commitments are fallacious. Even after I met him in person.
2. XXXXX xxxxxxx -- Does not respond to mails and phone calls. Does not complete an agreed upon process even after taking an official receiving, signed with his employee code.
3. XXXXX xxxxxxx (XXX - Vendor) -- Lied to me about the loan process/processing fees/insurance policy, and got the cheque made in an incorrect amount without my knowledge and/or consent.
4. XXXXX xxxxxxx (XXX - Vendor) -- Lied to me about the loan process and was offering to reimburse me with the loan processing amount from his own pocket. Is that even legal..?
5. Hxxxxx xxxxx -- I have been in email/phone correspondence with her. She is extremely unprofessional in her approach. I have highlighted above my interactions with her. Also attached is a mail in reverse chronological order, which you can follow. She does not pick up phone calls, nor does she reply to mails.
Basically I feel, using a conniving and deceitful manner has been exercised to sanction a loan against my name, and now ICICI is refusing to cancel it. I have not done the ARHL transfer, so as of now there are two loans against my name. Deductions are continuing to happen on my account, without me using the loan.
Deductions:
1. 03/08/2016 - Cheque # xxx - INR 5865
2. 03/08/2016 - Cheque # xxx - INR 5750
3. 05/08/2016 - Automatic Debit - INR 12424
4. 09/09/2016 - Automatic Debit - INR 1000
Refunds:
1. 27/09/2016 - credit to salary account - INR 12849.
2. 27/10/2016 - credit to salary account - INR 10865.
Attachments:
Chain mail conversation with xxxxx.
************************************************************
So basically if you want to enter the black-hole of ICICI, you all are welcome to do so. It will all work superbly and dandy. Once you want to eject, the cesspool will not let you. It is a bad, unprofessional bank. Period.
bssunilreddy
Keymaster
Yes, it was for home loan insurance. Basically (as I mentioned), some ICICI guy called me (I was at an airport), told me about the insurance. I said NO. I did not sign any policy. In fact, I was about to go for the ARHL transfer signing, but by chance, ICICI mailed me the Policy cover letter. I was shocked. Rest you know.
When I met the ICICI people they said moronic things to me:
1. There has been some misunderstanding: about the insurance loan we added on. I told them, when I told NO, how can it be a YES.
2. All this happens to most people taking a loan with ICICI. (This really pissed me off. Really made the mercury rise).
3. When we meant 9.35% it is actually 9.40%, and gave some technical jargon.
4. Take in cash the processing fee from us, because ICICI has to cut it. I said, why did you commit no processing fee. They said: take it back from us.
5. Your CIBIL rating will take a hit, because you are cancelling a loan.
6. How come all this caused you so much tension and agony, are you really that disturbed by all this.
If you all can make sense of all this: Why did I cancel the loan. Because they plain and simple LIED. That is not a pass, in my books. Even if I suffered 3 months of pain and agony. Two cheques bounced due to low payment, 2 loan EMI's went in late. But, I learnt my lesson.
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hotshot05
Herald
Just saw this -
https://hbr.org/2016/12/the-most-and-least-empathetic-companies-2016
ICICI and SBI are among the least empathetic companies according to this list.
https://hbr.org/2016/12/the-most-and-least-empathetic-companies-2016
ICICI and SBI are among the least empathetic companies according to this list.
That's the least when you compare to pvt banks. Its 3X at pvt banks.
Hasty loan approvals now a days for incentives. Its common with every bank.[DOUBLEPOST=1481213729][/DOUBLEPOST]
I kinda agree with this list but shocked to see ICICI.
Also airtel is should be #1 in least, followed by lenovo .
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hotshot05
Herald
Airtel/Flipkart should be there near the top of the list. Once they capture the market, all of their customer service just vanishes.
Uber is another one who I feel is quite opaque with their policies. Especially related to account disabling/withdrawal of benefits etc. I had quite a few free rides. One day it just disappeared. So I mailed them. They responded with "You have violated our T&C". When I asked how, I received no specific reason. Only "You have violated our T&C"
- Status