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?