Kotak Bank is only concerned about getting hold of your money. Once you have invested with them or opened an account with them, you will regret it and spend sleepless nights for many months to come.
I went to the bank to open a fixed deposit, and they told me that along with a fixed deposit of 1 lakh, I would get a ZERO balance savings Account. I agreed.
Imagine my shock when I found out that they are charging me Rs.750 the Non Maintenance charge for not maintaining the Minimum Balance in the Zero Balance Account.
Their Reason: Your Account is Zero Balance Account, but your Customer ID is Non-Zero-Balance type. So since the Zero Balance Account is under the Non Zero Balance Customer ID, someone in the back office is charging your account. We do not know who, but you will still have to pay the charges.
On asking them to give me such in writing, they Service Manager (Dalhousie Branch) declined to give me anything in writing.
So I decided to close the account rather than get cheated again.
They have been making me run around for 1 month to close my account.
Each time I go to the Branch to close my account, they give the following excuses
1 Give a Letter to close the account, it will take 1 week to close the account
AFTER 1 WEEK
2 You have to fill up a prescribed form,
BUT we cannot give you the form because the printer is not working please come back in 1 week
AFTER 1 WEEK
3 Filled up the form and submitted it, the account will take 1 week to close from today
AFTER 1 WEEK
4 We cannot trace the form you submitted, please submit it again
AFTER 1 WEEK
5 The System has no information on what type of account you have, give us 1 week to clarify from the back office, we cannot close it until then
After 1 month, the account is still not closed, and they are still charging me Non- maintenance charges of 750 even though I am still maintaining the Fixed Deposit of 1 lakh and it is confirmed to be a ZERO Balance Account..
The Branches where I have these accounts are in the Kolkata Dalhousie Branch and the Kolkata Ballygunge Branch.
EACH TIME I SEND A COMPLAINT VIA THE NET ABOUT THE DALHOUSIE OR BALLYGUNGE BRANCH, IT IS SENT TO SOMEONE ELSE IN THE PARK STREET BRANCH, AND THAT PERSON WONDERS WHY I HAVE COMPLAINED.
Uday Kotak, I must say you are running a Money Making Racket and Cheating Agency all under the name of Kotak Mahindra Bank. Never care about your existing customers, as there are many more customers in the the market.