[Resolved]  Kotak Home Loans — Taking Customers for a ride and cheating them.

I have taken a loan from Kotak and they are still charging me interest @12.5% in the current market scenario when other banks have infact reduced their Interest rates. The customer care guys and the home loan dept. personnel are highly unprofessional, rude and waiting ot cheat the customer.

Infact for those who do not know, in case one does want to foreclose the loan, they charge 2% on the total amount outstanding + prepayments made within one year from the year of foreclosure. These guys even ended up deposting two EMI cheques prior to the due date at the same time even though one EMI was not due and resulting in one cheque bouncing, when asked they replied that because of the cheque dates being current they deposited the cheques.

The customer care guys were verbally informed about the EMI cheques being for respective months, even then these guys depsoited my cheques. The best thing was yet to come, the next day i got a call tellin me that my EMI Cheques have not been received for the current month (Already Cleared). Inspite of constant follow up and mails they do not even bother to respond or call back... They are the worst bank to deal with... in fact a government bank is far far far better, please do not go to kotak bank for loans...

Their slogan "Let's make money simple" shown on TV is wrong, they should change it to "Let's make simple money"