Gold loan

#1
Dear TJ members

Last month (Dec 12), We have got gold loan for our ornaments from ICICI bank. This month we paid all the loan amount with interest. However, the bankers said that we return the orna:confused::confused:ments only after the three months - means End of April 2013.

We dont understand what s their procedure- is it the same with all other banks? Pls do share your personal experience with the same, if you have come acrossed.

:confused::confused::confused::confused::confused:
 
#2
I checked the T&C of the ICICI Bank Gold Loans online. It only says in this regard:

19. Security, if any, created by the Borrower and/or any other person in favour of ICICI Bank in connection with the repayment of the Borrowers Dues or compliance with its covenants and/or obligations under the Loan Terms, shall continue until the full payment of all monies due under/in
respect of the Facility and until all covenants under the Loan Terms have been duly complied with by the Borrower and all obligation under the Loan Terms have been duly discharged by the Borrower.
Make sure all documentation on loan closure on the Bank side have been completed by them as well, after you discharge all amounts rightfully demanded by them, and obtain a loan closure / No liability certificate.. After this, demand in writing that they return your ornaments immediately. If they refuse, demand a written refusal. This should be enough to get the security back through a consumer forum..
 
#3
Dear Selviramesh,

Please write to us to [email protected] with your contact details and we'll get in touch with you to address your concern.

Regards,
ICICI Bank Customer Service Team.


Dear TJ members

Last month (Dec 12), We have got gold loan for our ornaments from ICICI bank. This month we paid all the loan amount with interest. However, the bankers said that we return the orna:confused::confused:ments only after the three months - means End of April 2013.

We dont understand what s their procedure- is it the same with all other banks? Pls do share your personal experience with the same, if you have come acrossed.

:confused::confused::confused::confused::confused:
 
#4
Well, ICICI Gold Loan is the best loan deal which provides the loan without hassle. Every bank has different rules and regulations. You can confirm it directly from the bank. There is no risk of default in case of loan against gold.
 

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