jaspreetsingh 16 May 2015

Cheated by kotak mahindra prime ltd

Dear Sir,

I am taking a used car loan from kotak mahindra prime ltd. with rate of interest 16% p.a.on bank faith. And i never check it how much they charged interest. but after 1.3 years i found that they charge me 18.86% intt p.a.. When i contect related this matter to that person he agree and assure me i will do something about it. But now he didn't do any thing. Even bank has no issue me any document in which that Rate of interest mentioned. And bank told me we dispatch all documents to you. so now what i do.?

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2 Replies

ADV-JEEVAN PATIL, MUMBAI ( DEEMED/CONVEYANCE OF BUILDING) 16 May 2015

1) First write to them asking copie of all documents you signed for loan particularly Terms of loan

2} confirm what you have signed or forceably got it signed.

3] If you feel interest generally charged for quantum of loan and overcharged rate of interest and reason thereof.

4] If they failed to answer contact me E-mail: jeevansci@yahoo.com or 9869400938 To set the things right.

Kumar Doab (FIN) 16 May 2015

The bank is under obligation to supply certified copies of the loan brochure, loan application, loan agreement.loan approval, bank statement.......................

Did you sign blank forms?

You have to catch hold of the executive that collected your forms, BM and obtain all docs.

This time submit in writing under proepr acknowledgment.

Once you have the docs, study and consult your lawyer handling such/consumer cases.