I had taken a car loan from KMPL in 2006. Once, the ECS got rejected due to insufficient funds and they sent a person to my home to collect a physical cheque. At the time of collecting the cheque I was asked to pay Rs. 500/- as penalty charge which I paid to the person who came to collect the cheque.

To my surprise more than one year later they sent me a letter asking me to pay another Rs. 1200/- as late payment charges. When I called them to enquire as to what this is for, they could not give any explanation for this amount and how this have been arrived at and why they did not infrom me earlier.

Post this they went silent for another one year and woke up six months back. Again when asked the reasons for not infroming me at the time of collection of the cheque in the first instance itself, they had no answer.

Now they are holding back my NOC despite I have paid all the balance EMI's as I believe that payment of Rs. 1200/-. is completely wrong as they have failed to explain me on time.

KMPL thinks that they can act arrogant and casual and ask for the charges at their descretion instead of when the charges are falling due and without giving proper explaination to the consumer.

Looking for help to reoslve this.

Arun Goel

Originally Posted by eciarng

I had taken a car loan from KMPL in 2006. Once, the ECS got rejected due to insufficient funds and they sent a person to my home to collect a physical cheque. At the time of collecting the cheque I was asked to pay Rs. 500/- as penalty charge which I paid to the person who came to collect the cheque.

To my surprise more than one year later they sent me a letter asking me to pay another Rs. 1200/- as late payment charges. When I called them to enquire as to what this is for, they could not give any explanation for this amount and how this have been arrived at and why they did not infrom me earlier.

Post this they went silent for another one year and woke up six months back. Again when asked the reasons for not infroming me at the time of collection of the cheque in the first instance itself, they had no answer.

Now they are holding back my NOC despite I have paid all the balance EMI's as I believe that payment of Rs. 1200/-. is completely wrong as they have failed to explain me on time.

KMPL thinks that they can act arrogant and casual and ask for the charges at their descretion instead of when the charges are falling due and without giving proper explaination to the consumer.

Looking for help to reoslve this.

Arun Goel

Dear Mr Goel,

At the outset, please accept our sincere apologies for the inconvenience caused to you. We wish to investigate your complaint further, for which we would need your Kotak Prime Loan Account number. Request you to write in with this information to support.carloan@kotak.com; our team shall shortly contact you.

Regards, Kotak Support Team