[Resolved]  Kotak Bank — Personal loan - signature is forged

Address:

Bangalore, Karnataka, 560076

Spln: 59926873

I have received the hard copy of the loan documents which includes covering letter, repayment schedule, personal loan cum guarantee agreement, schedule cum keyfact statement.

In one of the document my signature is forged as the acceptance (Four signatures) by one of your kotak executive, which is legally an offence which i will be escalating as the legal act. From the beginning i have informed you that i have not accepted for any of your loan details which says 13.25% roi (11.49%), loan amount rs. 8, 15, 550 (10, 00, 000), insurance approx. Rs. 13, 000 (Not mentioned), processing fee approx. Rs.[protected]. The breakup of my loan disbursal amount is not mentioned anywhere in the document nor it is conveyed to me.

Find below the transactions happened with kotak mahindra which was a worst experience and poor service.

1. I have applied a loan with kotak mahindra on july 5, 2016. Submitting my documents with the committment of 11.49% for bt, rs. 10 lakhs and processing fee rs. 999 for personal loan.

2. I didn't get any verification / confirmation from the executive of kotak mahindra after continuous follow up. It has taken more than 20 days to know the status.

3. The executive will send the blank agreement copy stating that your loan is sanctioned for rs. 10 lakhs at 11.49%, no need to worry the document will be processed as per committment.

4. After signing on july 26, 2016 i got a call from kotak around 9 pm in the evening stating that you are eligible for rs. 8 lakhs and 13.25% roi. I objected not to proceed, because the promised roi and amount was not matching. Then the kotak executive mentioned that he will call back for confirmation. I didn't receive any call back from kotak.

5. Aug 1, 2016 i received an welcome kit via email with documents attached from kotak. Stating the disbursal amount of rs. 8, 15, 550 and will be remitted to my account on aug 5, 2016 along with repayment schedule document attached.in that document there was no breakup amount mentioned like insurance amount, processing fee, document verfication, stamp duty deduction. How can a bank be so irresponsible of not mentioning these details?? No clarity.

6. The amount rs. 8, 15, 550/- which was supposed to be disbursed on aug 5, 2016 got bt transfer dd on aug 8, 2016 and remaining amount rs. 4, 57, 531/- was disbursed on aug 10, 2016. Who will pay the interest for 5 days?

7. The difference amount of rs. 34, 000/- explanation was not seen anywhere in the welcome kit email nor agreement copy. If the kotak executive would have explained clearly to the customer why should i come back to you for explanation?

8. I called up to the customer care for the clarification with sr no. 1-[protected] / 1-[protected] / 1-[protected].

9. I heard these common terminlogy from call centre on high priority / relationship manager will call back today, eod, they are working on it (Till today not received any call from relationship manager).

10. The amount has been deducted for loan insurance. Till today i have not received the policy details. I gave the cancellation for insurance amount but still no clue on that.

I hope will get immediate response for my clarification.