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I have taken a home loan from ICICI in 2004 at a rate of 7.0% . I was offered the same rate from other nationalised banks (SBI, Canara, etc). But due to the easiness of getting the loan sanctioned I went with ICICI. I have been paying the EMI without any default for last 7 years. During this time I saw my interest rate skyrocketing to 14.5% . They were also increasing the tenure for the loan each time the rate was increased and my total tenure to close my loan with regular payment of EMI stands at 478 months which was 240 when I started the loan. This is bound to rise in future as the rate increases and never going to go down. RESULT: You will NEVER be able to pay the loan through regular EMI in your life time. The interest rate has been going up even during the recession when RBI reduced their rates. ICICI never reduce their rate and will be very quick to increase the rate when RBI raise their rates. They would never reduce when RBI lowers their rate.