[Resolved]  Kotak Mahindra Bank — Personal Loan very heavy preclosure charges

Address:

Bangalore, Karnataka, 560027

Kotak Mahindra Bank — Personal loan High Preclosure charges


I took Kotak Mahindra Personal Loan one Year back.My Loan Account number is 59768596. I was told there will be zero preclosure charges after one year. I am a EX staff of KOTAK MAHINDR BANK Now when it try to preclose the Loan, I was Told it is 5% of Principal Amount.
This is a Very unfair and unethical of Kotak to lure people to get Loans saying zero preclosure charges and then asking them to pay a hefty 5% .
This Very bad experience has left me shocked and i am looking for further
coarse of action. I being a ex staff i prefer this high charges to be waiver off. None of the bank will charge for the preclosure charges. it will be 0% every where. I am not doing balance transfer or something like that i am closing the loan by paying cheque. M G road Customer care staff Ms Lohitha doesnt have the basic courtesy to tell that we will look into this when its been told to waive off. I have been writing this to the bank officials to take necessary approvals to waive off the same as its our hard earned money how can they charge so much. We are paying interest for the loan we have availed why this much charges to be lured by the customers.
I am looking for further course of action on this immediately.
Regards,
Anitha