[Resolved]  Kotak Mahindra Prime - Car Finance — High Rate of Interest applied against offered

Address:

Dehradun, Uttarakhand

Hi,

My name is Vivek and here i would like to complaint about Kotak Mahindra Car Finance. I was financed my car from Kotak Mahindra, Dehradun where case was dealt by one of the Kotak's Relationship manager. He was committed me ROI for 5 years 12% if I submit the request within offered time period. I did the same with all documentations. Later on i came to know that ROI was applied 12.75 % as the new rates were hiked and applied. It was confirmed to me that given rates were best rates in comparison to others. I was cheated first time when it was made aware to me. I requested Relationship manager, to get this reduced as it was .75% additional but no avail. During the delivery of vehicle, given EMI was found more than 13% ROI but no one was listening to me. This was secind time i was cheated by KMPL. It was confirmed to me that this new rates being applied for all customers and as per market rates. But yesterday i was under impression when i received a courier from Kotak Mahindra Prime where I have checked the documents and found that ROI was mentioned 13.36% for 5 years. This is third time, i cheated by KMPL. Overall, ROI commitment was confirmed for 12% and applied 13.36%.

I am really very dissapointed due such unrealistic expectations where customers are cheated in such a cleverly. I am not blaming to bank but i have big concerned for those existing employees of bank who are corrupted, dishonest and affecting the reputation of bank because of their small incentive and fake.

I hope if Sr. Management Staff of KMPL will take this seriously and will get this corrected and take appropriate actions for such employees (Customer Relationship Manager).

Thanks,
Vivek

Thanks,