[Resolved]  Kotak Mahindra Prime Ltd. — Extra Charges as documentation fee against car loan

Address:

Coimbatore, Tamil Nadu

Dear Sir. I had taken a used car loan from Kotak Mahidra Prime Ltd in Jan 2012 for Rs. 900000/- for 36 months with EMI of Rs. 32850/- pm
The loan agreement No. is CF 7617020 (SR No. 1-[protected]). Initially they have taken one month EMI Rs. 32850/- and Rs. 5000/- (as documentation charges) cash from me. But the statement of Re- pay they have send to me shows total finance amount is – Rs.907738/- .
I made several complaint with the customer care & getting un satisfactory reply.
Initially they said Rs. 7738/- is as the insurance which they made without my concren. but the insurance policy clrealy mentioned the premium Rs. 2687/-. When I put the same in their knowledge, now they says this Rs. 5000/- as administration charges ( They have already taken Rs. 5000/- from me in cash as documentation charges).
I made several request to the company to return my money which they have taken extra from me
This pure signe of cheating.
Kindly help me to get it solved
Please find the communication which I have made with them sofar
Dear Mr.Benni,

This is with reference to the mail received from your end, as mentioned by you in your mail, nothing has been hidden in the transaction. As confirmed by you, the policy is covered for Rs.2687/-. Balance amount of Rs.5,051/- was accounted for towards Credit Administration Charges. The amount of Rs.5051/- was clearly mentioned in the Repayment Schedule, which was furnished to you along with the Welcome Kit. However, for your easy reference, we attach the same herewith.

Hope we have clarified your query suitably.

Incase of any further queries kindly mail us back on service.[protected]@kotak.com or call us on our toll free no #[protected] /[protected] and we would be happy to assist you. You can also visit us at our website i.e. carloan.kotak.com. Assuring you of our best services at all times.

Regards
Thasiveen P.A.,
Customer Service
Dear Mr.Benni,

This is with reference to the mail received from your end and further to the discussion which Mr.Jeyaprakash - Sales DRM had with you regarding the same. We hereby confirm that as informed in our previous mail thebreakup details is as follows :


Finance amount – Rs.9,00,000/-
Insurance provided – Rs.7738/-
So total finance amount is – Rs.907738/-
Monthly installments – Rs.32850/- and tenure is 36 months

Documentation charges for the contract – Rs.5000/-
First installment – Rs.32850/-

Amount disbursed to the dealer is Rs.862150/- ( 907738 – 7738 – 5000 – 32850 )

Incase of any further queries kindly mail us back on service.[protected]@kotak.com or call us on our toll free no #[protected] /[protected] and we would be happy to assist you. You can also visit us at our website i.e. carloan.kotak.com. Assuring you of our best services at all times.

Regards,
Thasiveen P A,
Customer Service
From: Thomas Benni [mailto:Benni.[protected]@charles-voegele.com]
Sent: Saturday, February 11, 2012 9:06 AM
To: Service Carfinance (Support Services Division, KMPL)
Subject: Re: Existing Car Loan Agreement No. CF- 7617020 SR NO - 1-[protected]

Dear Sir
I think you are wrong. The insurance amount is only Rs. 2738/-
The amount Rs. 5000/- cash taken by Mr. Ramesh is extra. I refused the same that day it self. Because I know the documentation charges will be coming in emi .
Kindly do the needful to return the money

Best Regards,

Benni Thomas
Manager - Quality Control / IT. INDIA
Charles Voegele Fashion (HK) Limited