Originally Posted by rak3sh

I have a home loan with Kotak Mahindra for 4 years now, and the experience so far has been pathetic at best. They have no customer service culture and I would not recommend anybody to transact with this bank. Now, when I want to switch out from this nightmare, they are trying crooked and unethical practices

• Pre-payment: Even after RBI has issued a circular to not charge pre-payment charges, Kotak is forcing a 2% penalty
• The penalty is not just for the outstanding amount, but ANY partial payment you had made during the last ONE year, effectively they just don't want you to repay the loan, just keep feeding them interest
• They are insisting for 30 days to complete all formalities and return the papers. This includes 15 days AFTER I clear all outstanding amount (which is in 10s of lakhs). This significantly hampers any options to quickly sell the property in case of urgency( which is my bind now).

Does anybody have any suggestions which could help me through this (legally or other wise).
Please reply here or email to rak3sh@in.com

thanks

Dear Sir/Madam,

We’re sorry to know that your past interactions with the bank have been disappointing. We’d like to take this up with the concerned teams. We request you to write to grievance.redressal@kotak.com with your loan account and contact details and details of the branch where you have applied for the loan. We will get back to you soon.

Regards, Kotak Support Team