February 1, 2013 11:23 pm
Dear Priyanka, Rules are there for every one. I’m not advocating here in favor of ICICI. Please ask some one from your family or friend to visit the ICICI bank with the cheque of any account & an authority letter from you stating that you have sent the person to act on your behalf. Please give it a try.
Ashal, Thanks for your reply.
I was told by ICICI helpdesk (call center) people that I have to make pre-payments myself as others won’t be allowed to do so on my behalf.
If I send someone to pre-pay they should have my signed cheques and authorization letter.
I haven’t left my cheque book(signed) in India.
I think ICICI bank do not like people to pre-pay, close thr loans( for obvious reasons). Even after having money to close my loan here I can’t do so.
Dear Priyanka, my own experience of home loan closure as well as car loan closure is a very pleasant one with ICICI. Please prepay your home loan. Regarding papers, it may take 15-20 time to reach to your servicing branch for these papers. If you ‘ll not be present by that time, please check with ICICI, people what can be done to collect papers in your absence.
Alternatively, you may send some one now to pay back the loan so that by the time, you are present in India, you may go & collect your papers.
I actually wrote description while posting this Q but I believe it got lost in transition 🙂
I own my first property which I bought in 2007 and from then I am paying 20 K pm EMI. I have sometimes made part payments.
Reason for my Q is, I will be visiting India for a limited time period and would like to know/prepare myself what all things are required from my side , how banks does closure to a loan, what time does it take for entire process and when will I be getting my home papers?
I do not want to run from banks to thr headquarters for my own papers as this Loan was for 20 years and it has been ongoing since 5-6 yrs. I have heard some scary stories of banks making people run here and thr for 6 months or more.
I want some experienced person who has paid up his loan to give me a fair idea.
Dear Priyanka, can you elaborate more on your query?
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