[Resolved]  Personal Loan — Not clarifying ECS even after 5 months

I have applied for personal loan of 3 lacs from Kotak Mahindra in September 2007. They have given me cheque dated 28th Sept. 2007 on 3rd Oct. 2007. First EMI on this loan amount which I have recd. on 3rd Oct. 2007 late evening, they have started taking EMI from 10th Oct. 2007. I am unable to understand how is it possible to start taking EMI from the month I have recd. the payment.

Secondly I have confirmed payment through ECS but since first EMI till now there is problem at bank process and EMI has not been deducting from my account and every time executive comes to me with excuses and take cheque and my bank statment to avoid bounce charges. I am fade up of these services with such a popular brand name.

I will ask people not to take services from this Bank and I also wish to pre-pay my loan amount.