Guys be careful while taking loan from KOTAK MAHINDRA BANK. They are smart and act cunningly.
If you have already taken any loan from them dont ever miss a single EMI..
I have taken a personal loan in March 2007 for an amount of 250000 at bangalore and in oct 2008 I missed one EMI. In spite of successful 20 payments these cunning guys used the security cheque given by me while applying for the loan and deducted 191000 Rupees.
When I try to reach them, event he phone rings nobody attend the call on finally one day one guy responded and he literally said " Then bank can any time fore close the loan and take back the amount " for an amount of 2, 50, 000 they have taken 3, 29, 200. means nearly 80000 extra they have taken for a period of 20 months
This is ridiculous and a road side vendor can give a lesser interest rate.
Beware and be careful kotak may bite any time.