I have a savings account with ICICI Bank my account number is 002601524581 and also a Auto loan the account number for the same is LTTNE00005792739.

A few days back around 8000 rupees were blocked from my account, when I contacted the customer care they told me that the same was blocked because I had outstanding towards my auto loan.

The auto loan was taken before the account was even opened and the EMI were paid through IDBI Bank so I believe ICICI bank does not have mandate or authority to block funds in my account.

I agree that two installments were not paid and the reason they were pending was because soon after the emi payment was not cleared I had issued cheque for the same and the same cheque were never deposited nor returned to me. To make it worst interest and penalty was levied.

I don't have any intention of not paying the loan and if I had any I would have not paid more EMI as if you see the amount pending is 4000 out our the more then 40000 loan amount.

I have taken various personal as well as consumer durable loan after that and the same have been repaid through my ICICI bank account and none of loan payments had any defaults. None the less if the history of my savings account is seen they will see that I am not a defaulter and my transactions are very clean.

I don't have any issues in paying the pending loan amount if there is some concession on the interest part and if the bank is ready to accept two equal emi's for the same and if I don't do that they can block funds from my account I would have no issue for which they can use this as an authorization.

But the bank does not have any mandate or authority to block funds in my account hence I would request the bank to unblock the funds immediately and ask an executive to call me on 9029149328 so that we can settle the auto loan.

Thanks & Regards,
Samir A. Ahluwalia
9029149328

Hi Samir,

We are sorry to hear that you faced such a problem. We have made a note of your mobile number and shall get in touch with you soon in order to address your concern.

Regards,
ICICI Bank Customer Service Team.

Originally Posted by samir_a

I have a savings account with ICICI Bank my account number is 002601524581 and also a Auto loan the account number for the same is LTTNE00005792739.

A few days back around 8000 rupees were blocked from my account, when I contacted the customer care they told me that the same was blocked because I had outstanding towards my auto loan.

The auto loan was taken before the account was even opened and the EMI were paid through IDBI Bank so I believe ICICI bank does not have mandate or authority to block funds in my account.

I agree that two installments were not paid and the reason they were pending was because soon after the emi payment was not cleared I had issued cheque for the same and the same cheque were never deposited nor returned to me. To make it worst interest and penalty was levied.

I don't have any intention of not paying the loan and if I had any I would have not paid more EMI as if you see the amount pending is 4000 out our the more then 40000 loan amount.

I have taken various personal as well as consumer durable loan after that and the same have been repaid through my ICICI bank account and none of loan payments had any defaults. None the less if the history of my savings account is seen they will see that I am not a defaulter and my transactions are very clean.

I don't have any issues in paying the pending loan amount if there is some concession on the interest part and if the bank is ready to accept two equal emi's for the same and if I don't do that they can block funds from my account I would have no issue for which they can use this as an authorization.

But the bank does not have any mandate or authority to block funds in my account hence I would request the bank to unblock the funds immediately and ask an executive to call me on 9029149328 so that we can settle the auto loan.

Thanks & Regards,
Samir A. Ahluwalia
9029149328