Jan 08, 2011 06:37 PM
5624 Views
(Updated Apr 29, 2011 05:03 PM)
I suggest each one who is looking for a home loan not to go for Kotak Mahindra. I had an experience of loan loan from HDFC. They were very straight forward in their calculation while deducting EMIs.
I started my home loan at 8.5% in Jun-10 and now they have increased the rate to 10%. which is somewhat acceptable but they cheat customer by many means. They offer you low interest rate and increase very 1st month.
Secondly when I was in HDFC, my calculations and HDFC calculations were exactly similar. (not a difference a single paisa). But Kotak's calculation are out of anyone understanding.
When I asked for a statement, they didn't deliver any statement and deducted the money from my saving account.
They did this twice. They also fool you by saying that you can view your home loan statement if you open a saving account with them. but they only show outstanding balance nothing else.
No clue what calculations they are using. Customer care is also cr@p. Another Thing, Even Kotak charge money from it's customer if they want to increase the EMI at 1%.
In the mail, they would told you that we can wave you off .75% but still you need to pay .25% of outstanding amount for change in EMI. On the other side, HDFC provides online EMI change facility to it's customers. This is ridiculous.
