Dear Sir,

This refers to the loan taken from Kotak Mahindra purchase of my second hand car (Maruthi Swift - 2007 Model) from Toyota Trust, Bangalore.

Car purchase was finalised for Rs. 3,70,000/-. I had made the down payment of Rs. 80,000/-. Balance amount of Rs. 2,90,000/- I had opted to take loan. As per the discussion had with Toyota Trust during the purchase of car, they had promised me to give the interest of 15% reducing or 10% Flat for the loan amount of R.s 2,90,000/-

Unfortunately, the agreement copy was delivered to me. We being poor in accounts, was paying the EMI promptly. But when the loan agreement was received, I was surprised to see that an interest charge of 20.8% was charged on me. This is pure cheating.

Request your help in resolving the issue.

Loan agreement details:

Kotak Mahindra Prime
Agreement no: CF-6813425
Agreement date: 31/03/2011
Loan Amount: Rs. 3,03,775/-

Thanks and regards,

Pradeep Kumar M
09916977715