[Resolved] Kotak Mahindra Bank — Kotak Bank cheating in policy terms and changing loan foreclosure charges from 0% to 5% without any prior notification

asdarekar

from Pune, Maharashtra

Address:

Pune, Maharashtra, 412207

My name is Ashok Shamrao Darekar taken personal loan of 10.12 lakhs from KOTAK bank on June 2016. My personal loan account no is APAC 59875363

While signing agreement bank person told & shown in written on document below condition for foreclose loan

· You should not close before 12 months

· There is 0% foreclose charges.

Today I am foreclosing loan as 12 months over by doing balance transfer from other bank. But KOTAK bank now charging me 5% charges on my outstanding amount.

Now bank is telling me, if you are doing BT, than you have to pay foreclose charges, which is written in small letter, not given time to read it and intensely not told at the time of agreement

Regarding this I have send email several time to bank & their nodal offier, but I have not got any response.

Please help me and save me for this cheating from KOTAK bank.

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Aug 10, 2017

Complaint marked as Resolved

Kotak Mahindra Bank customer support has been notified about the posted complaint.

Verified Support

Jul 10, 2017

Kotak Mahindra Bank Customer Care's response Our grievance redressal team is looking into your concerns. ^Rajat