Unwanted Advice: ICICI Bank — We Want You To Be Perpetually Indebted To Us

by Vinaya HS on October 31, 2007

in Finance

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Last week, I went to ICICI Bank’s Commissariat Road branch in order to obtain a loan foreclosure statement. What I ran out with, along with the foreclosure statement, was a lot of unwanted [investment] advice.

Here’s a sample:

The interest rate on your loan is just 10 percent! Why do you want to foreclose such a cheap loan? Did you know that the stock market has grown by 38 percent?

Why don’t you instead invest your [saved] EMIs in one of our schemes which will give you a return of 13 percent?

Where do you work? We can also help you with Section 88 income-tax savings.

[The lady then went on to explain an investment scheme that honestly made no financial sense whatsoever.]

I ran away — with my foreclosure statement — at the first opportunity I managed to get. All I wanted to do was foreclose my loan and here’s ICICI Bank trying its best to push me into perpetual debt.

I didn’t even have time to say “WTF mate?”

Have you ever had such unwanted advice from ICICI Bank?




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{ 2 comments… read them below or add one }

Anoop October 31, 2007 at 3:29 PM

hahahaha..One lady was behind me here in Singapore..I did the same thing u did..ran away..and also..it was another of which belongs to wtf mate category..

Ramu July 19, 2011 at 1:46 PM

I went to HDFC Bank to re-activate my wife’s savings account which had become dormant due to non-use. Two females (one was quite attractive) pounced on me asking me to buy a ‘Peak’ scheme…something where you get the maximum nav of the mutual fund. I showed maximum interest (just to talk to that cute one) and then asked her for detailed brochure etc. and when giving my mobile #, mistyped one digit purposely! (sorry to the other guy if that was an actual valid number).

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