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ICICI Bank withheld a ₹2.65 lakh property insurance refund for over a month after home loan dues were cleared

ICICI BankPC-2026-03349Banking & LoansAnonymous ·
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Disappointing Customer Experience with ICICI Bank – Unresolved Refund Despite Clearing All Home Loan Dues & disgruntled with the behaviour of Pune Home loan, Lombard DP road, ICICI Bank Bund Garden I am extremely disappointed with the way ICICI Bank and its associated insurance entities are handling my refund of approximately ₹2.65 lakh towards property insurance following the clearance of all my home loan dues. For over a month, I have been running between the ICICI Lombard office, the life insurance team, and the home loan centre, seeking the refund of my hard-earned money. Unfortunately, all I have received so far are delays, repeated follow-ups, and referrals from one department to another. Nobody seems willing to take ownership or provide a concrete resolution. They have even discontinued my health policy without any intimation and when I had spoken to customer care telling them about not to discontinue the policy, even then it was cancelled. Let me be clear- I have cleared all my financial obligations towards the bank. Why should I have to struggle for a month to get my own money refunded? This is not just about the amount involved. It is about accountability, transparency, and the basic respect a financial institution should demonstrate towards its customers. I would like the senior management and grievance redressal teams at ICICI Bank, ICICI Lombard and ICICI Prudential Life Insurance to intervene immediately. I expect, a clear explanation for the delay, one designated person to take ownership. Immediate processing of my pending refund, a definitive timeline for closure. If this continues without resolution, I will have no option but to escalate the matter to the appropriate regulatory authorities with RBI Integrated Ombudsman Scheme and pursue the remedies available under consumer protection laws. ICICI Bank, customer service is not about selling financial products, it is about standing by customers when they need their money back. I hope someone from the senior leadership team takes notice and resolves this matter without further delay. ICICI Bank ICICI Lombard ICICI Prudential AMC Ltd Rakesh Jha Reserve Bank of India (RBI)

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  1. Case filed

    Filer · 3 Nov 2026, 8:39 pm

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