Kotak Mahindra Bank
Fraud Prodcut Feature Auto Sweep

I have taken Auto Sweep Facility, in which bank told me that:

In case of withdrawal, my "Last Created Fixed Deposit will be First Broken"

I created my First FD on 6 Nov and on 12 Jan for 181 days.

on 6 the April My first FD get renewed as new Fixed deposit created on 6-Apr-09

I withdraw Fund on 7th April 09,

But instead of breaking my 6th April FD, they broken my 12 Jan FD.

It causes me Loss of Interest or Approx Rs. 5, 000.

I contacted their Customer care, and Preet Vihar (Delhi) branch, but they always reply, Bank's system is right, and it will work like this only.

No body to hear my Problem.

-Alok Jain

Company: Kotak Mahindra Bank
Country: India

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