Personal Loan?

Question

I am raising my voice to you so that you could look onto this matter and get this resolved. Now let me give you an insight of the story. I applied for the TOP UP (Personal loan) online on the 24th Aug and i was informed by your bank that the loan have been approved for 5.70 lacs for 5 years and i will be paying EMI of Rs. 14, 123/month, but the catch is no one even came to collect the documents but my  report was pulled up. Then as no one turned up to pick up the documents, So I walked up to nearest  bank to Re-Apply . I was assured that on the basis of your salary you are entitled to get 6 Lacs TOP UP amount for 5 years I told them that right now i have an active PL with bank of 1 Lacs and 1 Consumer Durable loan which i was told no problem with that if you want with the loan amount you would get that these existing loan cancelled (this is what my intentions were). The following day i got a call from Chandni who informed me that she is a and Congratulated to me the loan is been approved someone would come to pick up the cheques but it’s been 2 days no one came. Today when i called your Phone Banking, Executive told me that the Loan is cancelled. And my creditability has now gone for a

Answer 1

Dear Maninder

Approval / Sanction of any loan is prerogative of respective Bank and is subject to various credit parameters, including CIBIL score. You need to find out the reason for refusal / cancellation from ICICI Bank.  Also, please note that your credibility would not go for a TOSS, just because a Bank refused to give you a loan.  Since your employer has a salary relationship with ICICI Bank, there must be some understanding regarding approval of loans and certain terms.  Need to check with your management too.  Please take it up accordingly.

RAJA