I had purchased a phone on 2nd January and I got an email from ICICI Bank saying that I can convert my transactions into 0% EMI. I then called the customer care on 4th January and asked them to convert it into EMI for 6 months. They said that it cannot be done and gave me no reason for this. When I told them that I got an email from ICICI Bank head Kusal Roy, they asked me to forward that email and after that I got call after 2 days saying that they have agreed to convert the amount into EMI as a special consideration (which is false as after I sent the email, then they did it). It says that I can convert it into 3/6/9 months EMI with 0% intrest. It also said that the processing fee will be charged. Below is the processing fee charged against the EMI tenure:
3 Months- 3%
6 Months- 6%
9 Months- 9%
I then wrote to ICICI Bank asking for the reason for different processing fee as they would process the request in the same manner. They said that it is their discretion and they will not disclose this to me. I then asked them as I am paying the amount, I have full rights to know what I am paying for in terms of processing fee. My main idea was to understand the different % of free in name of 0% intrest. I used to write them an email and they used to reply after 20 days. This continued to go over for 3 months and whenever I got reply from them, I used to reply withing 1 hour, but I always got reply after 20-25 days. I had already made it clear in my email that I will not pay them anything till this is fixed. Also, 1 day I called their customer care and spoke to a supervisor and I asked whether they are silently charging the intrest in name of processing fee as it increases with the tenure. He agreed and said "In a way, we are charging the intrest before" and this got recorded as their calls get recorded.
This continued till April and I got fed up and paid them the amount that was payable. But I did not pay the intrest amount from January (after I wrote them an email initially). They said that they will not do it. I told them that due to their delay, this has happened otherwise this delay would have not happened. And after all the fighting over emails with them, they used to give the same reply. I have paid them the amount that was payable but not the intrest from January till this EMI thing was settled. Now they are forcing me to pay the amount. I had sent them an email in April saying that I have paid the amount along with the full calculations and not the intrest for March 2012 and also told them to take legal action if they feel that I have done wrong somewhere. Since then I have not paid them any amount but this is a liability and I would like to get over with it. However, what the bank did was forgery and not transparent with the customer. Please advise what should I do? I had planned to go to consumer court but do not know the process. Please advice.
If you want I can forward all the emails. Please help as it is very disturbing.