Kotak Mahindra Bank — Foreclosure request not being acknowledged for 5 months

Address:

Bangalore, Karnataka

I would like to bring it to your notice about the worst customer service i have been receiving from the so called Customer Care Executives from Kotak Mahindra.

I am a Home Loan customer of ING Vysya Bank, borrowed a loan of 20 lacs during 2011. During October i had an oppurtunity to move abroad, so i went to the ING Vysya Home Loan Division and requested for foreclosure . In the interest of time i told them that i would make a part payment from my own savings account before the foreclosure statement is ready. My request was taken and i didn't hear back anything.

I did visit India during the end of December and i went to the bank again to know that the then manager to whom i gave the request moved on to a different role and my request was not looked at. Still i requested for the foreclosure statement in writing and made a part payment of 2.5 lacs on 28th Dec and notified the customer care mail id

I guess with all your integration work the entire process changed, no one looked into my request.

I made a payment of 5.5 lacs in January and notified the email id again which i guessed would be the full and final settlement. To my surprise i was told that there is part payment charge and the pre payment process changed. Like i mentioned above my loan agreement suggests that there wont be any part payment fees if i am making the payment through my own savings account.

I get one more surprise with the amount i transferred during December 2015 was returned to my savings account.

These are my complaints:

A) I have been begging to get a foreclosure statement to close the home loan for 5 months, no one is looking at my request or responding
B ) I have been paying a higher interest of 11.5% from October 2015 though i had the intention to close the loan. All the bank have come to lower home loan rate, when i inquired about it i was told that i have to sign a new application form to refinance the loan. When you guys hike the interest rate no signature required from the applicant, but when you guys want to reduce the interst rate i have to sign a new application form, what a consistency.
C) The interest component of the 2.5 lacs which i transferred during December how is it going to be adjusted in the loan ? I have be paying 11.5% interest for that inspite of transferring it to you guys for almost a month
D) I have been sending multiple reminders to the customer care team who takes a leisurely turn around time of 5 working days even for an issue which i have been continuously following

I would like to get this addressed and get the home loan closed as soon as possible and get a fair settlement for all the complaints i have raised here.

I would appreciate if my email is acknowledged by an senior manager in the bank who understands my pain.