Kotak Mahindra Bank — Wrongly debited non maintenance charges

Address:	Indore, Madhya Pradesh, 452009
Website:	www.kotak.com

I am Arpit Kasliwal and a valued customer of Kotak Mahindra Bank from last 10 years.

I was very impressed with Kotak bank in my 10 years of relationship with them but recently they break my trust and wrongly debited Non Maintenance charges for Jan and Feb from my account on 04/24 and 04/25 . Even when I have the much more balance in account then required.

Till Jan 2016 Kotak system was automatically creating the recurring term deposits if account balance is more then Rs 10K and automatically break the Term deposit if balance is less then Rs 10K. This way till Jan my balance was maintained in my account properly.

Suddenly in Jan I received email from Kotak that you are not maintaining your minimum balance in account i.e. Rs 10K. But at that time I have balance around 1 lack 30K in term deposit. So I went to my Kotak MG.Road Indore Branch office and raised this concern that why I received this email even when have the required balance in Term Deposit account. Then branch member told me that it is a regular email which mistakenly sent to you. You don't need to worry about this.

As per the Kotak facility one of my term deposit should be break automatically and transferred to my account. But it is not happened and they charged me Rs 687 and Rs 512 for not maintaining the balance in Jan and Feb 2016.

When I talked to there customer representative he told me that he will revers all the expense and again credit to my account but it will take 3 Months.

I am not sure why they need 3 months to revers the maintenance charges in my account.

Please help me to get my amount back in my account.

-Arpit Kasliwal
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