Kotak Mahindra Bank provide personal loan very quickly but I was not aware the it will cost me 17% for year. In 2015 I was in urgent need of personal loan of 2 lac rupees. Since I need it on very short notice. I received call from Kotak representative. At that point of time I was not aware the in market Kotak was provide most expensive personal loan. I thought it would altogether similar in other banks also. But that was not the case. I realized that private banks have their own policy.
After two year when I inquired for force closure process. I get to know other part of story which is they will charge you 5% extra on complete amount for force closure. I thought now I have to come out of this loan on any cost. It was the most painful experience I have from bank staff & customer care while force closure of loan. I would never recommend Kotak bank to any of my friends and family.