Kotak Mahindra Bank — HF 188600 : Brench of MRTPC Act by Kotak Mahindra Bank | |
Dear Team, I have a INR 21 Lac Home Loan with Kotak Mahindra Bank which is 2 years old. Despite the Home Loans rate dropped by most of the banks to 8% to 9%, bank has kept my Rate of Interest ROI @ 11.75%. Brench of MRTPC Act : Kotak is giving low rate (<11.75%) to new Home Loans customer but not giving the same benefit to existing Home Loans holders. Also to top it up, have kept the Loan Prepayment or Loan transfer penalty @ 2% of the Loan Amount. Hence I feel to be trapped in Kotak. I request you to join my fight and get me justice, by waiving 2% Loan Transfer penalty and restucturing my loan to 9 % Rate of Interest. Awaiting for your kind revert. Thanks & Regards Pankaj Banthia Hyderabad [protected] Was this information helpful? | |
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Same with my Standard Chartered Bank home loan. The interest rate is 13% and though I have completed 5 years they have suddenly introduced 2.5% forclosure penalty. THough I would like to foreclose the loan, I'm stuck because of this penalty.
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similar experince here from kotak bank
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