Kotak Bank
Home Loan

Hi

I have taken a home loan from Kotak Mahindra Bank 1 yr ago.

It was 11.25% floating which they have increased to 13.5% ...

Can u Imagine!!!

They have increased this 2 time without inecreasing the tenure and without notifying me. (my tenure is 20 yrs)

Is it true that tenure can't be increase beyond 20 yrs?

now they are telling me that i have outstanding amount... which i need to pay...

What legal options do i have and most importantly how fast this matter can be solved if i go for legal option.

Is there a regulatory in India (like RBI) who can control what maximum level home loan interest rate can go upto?

And y kotak is not decreasing it to say 9.5 or 10%?

regards

Nilesh