I have taken a home loan of Rs.350000/- for 20 years tenure in floating interest rate. The Aggrement no: LBMUM00000402790 Dtd. 15.04.03. The initial offer given was 7.75 interest rate. When the loan was accepted the interest rate fixed was 9.75with EMI Rs.3320/- per month for 20 years. After some months bank is lunch scheme to make the payment of 0.50% & reduce the rate of interest I am making payment for Rs. 1700/- in the month of September,2004 but bank is increase the Rate of Interest on 07.02.2005 by 0.50% after one month increase by 0.50% 07.03.2005 after four month bank is again increase by 0.50% 07.08.2005, after nine month bank is increase by 0.50 07/05/2006 again the interest rate was changed to 9%, the EMI was kept constant but the tenure was increased to some more year.Again the interest rate hiked to 10% from 07/08/2006, the tenure increased to another few more years.on 07/02/2007 the interest rate at 10.5 & then increased to12.5% from 07/05/2007, & interest is increase 13.25% then 14% & reduce only 0.50 the tenure increased to the max. limit & EMI increased to 3684/- per month. Even after paying 66 EMI, the CL.Principal is found to be Rs.308738/-. The last tenure is found to be 07/03/2030 for complition at this stage. This may again increase to many extent. I want to know that whether there is any control of RBI or any other rules these private Banks follows, on Home loans. As per my view there is some cheating by the middle class people. Many times the bank was asked regarding the calculation for Tenure increasing & EMI increasing, but they are not providing. Now HOME loan rate of ICICI might have increased again, but they never intimate to the customer [Also note only one or two letter received from bank Increase rate of Interest]

All Private & PSU Bank must have similar calculation. Kindly look into the matter so that I can get justice against this type of cheating of ICICI HOME FINANCE LTD. Many customers are also facing similar type cheating from ICICI.If this type of activity doing by bank, so how to trust the Bank????