[Resolved] Kotak Home Loan — High Interest rates and Foreclosure charges

[Resolved] Kotak Home Loan — High Interest rates and Foreclosure charges

S Sanjeev Jain from Hyderabad, Telangana

Some o[censored]s have taken home loans from Kotak. Considering their interest charges are higher compared to others, we want to transfer the same to other Banks. We were surprised to note that we need to pay 2.21% foreclosure charges on approved loan and NOT availed/outstanding! We are paying Pre EMI as the home is under construction and about 50% loan is only disbursed so far! Am not sure of other Banks but certainly Kotak has been very unfriendly experience that lacks transparency & customer centricity, Sanjeev Was this information helpful? No (0) Yes (0)
Aug 14, 2020 Complaint marked as Resolved
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Comments

Raj

I completely agree to this.Kotak is charging one of the highest interest rate.I have also fallen into this trap and I know many many other who are very disappointed by their interest rate which are the highest in the market.Today when there are other banks charging interst rate any where between 8 to 10 % PA, I am charged 14.75%.Now when I have decided to shift my loan to other bank, their response is DEAD SLOW and the officials are non cooperative.

If a Bank like KOTAK does this I dont know how will it survive the tough times.Im sure There are Many like me who will like to get out of this blood sucking bank and shift their loan to some other bank.

I scurrently fighting my battle and struggling to get my loan shifted.