Kotak Mahindra Bank
Unfair treatment of a savings bank account by Kotak Mahindra bank

I am an account holder with Kotak Mahindra Bank (A/C No 06540010010187). At the time of taking the account the bank’s sales person had promised a lifetime free savings account (zero balance account). Post checking with the bank it was verified the same was true as it was an offer for employees of specific corporates. However during the same year the account was modified to a normal account with charges being deducted on a regular basis which is not acceptable to me. Currently as per a latest statement my savings bank account shows a negative balance of -5582 (Rs), which I do not agree with at all.

I have raised the matter with the call center and also provided a written compliant to the same. However surprisingly post filing the handwritten letter and also the bank's form for closure of the account I have received the same back with instruction to close a DP account (which is a demat account). I do not hold a demat account with the bank. Currently as per a latest statement my savings bank account shows a negative balance of -5582 (Rs), which I do not agree with at all. I request immediate closure of the account as I think it is unfair, also it seems to be against any acceptable logic to pay to close a "savings bank account". In case the bank felt they could not hold a zero balance account they should have close the instead of charging a fee for an account I have not utilized post the period they began deducting the charges. Also just to add my account was reduced to a negative balance by deducting a sum of money that was present at the time the policy changed.

Again I request immediate closure of the account by the bank.

Jayan Mathews

Company: Kotak Mahindra Bank
Country: India

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