[Resolved]  Kotak Bank Savings Account — Deduction of money from SB account without prior intimation

Address:

Thane, Maharashtra

I have a savings account (A/c No. [protected]) in Kotak Mahindra bank. Since January 2010 the bank has deducted around Rs. 2500 from my account as Non-Maintenance Charge.

I had opened the account under a promotional offer for the employees of the company. A representative of the bank persuaded me to open the account on the grounds that it will be a zero balance account. All I had to do was make an initial deposit which I think it was Rs. 20,000.

In Jan I noticed that around Rs. 825 was deducted from the account. When I called I was told that the promotional offer of zero maintenance was only for 1 year and that the status of the account has been changed to one requiring a maintenance of a minimum average. Since then around Rs.2500 has been deducted from my account.

This was done without informing me. I never received any letter or call from the bank stating that the account status has been changed and that I have to maintain a minimum average balance.If they had informed me beforehand I would have maintained the minimum average balance like I do in case of my other bank accounts.

I have called them multiple times and even spoke to a representative from the Bandra branch (where my account is), but to no avail.I request you to please intervene and help in closing this issue.

Thanking you

Sreejith S. Pillai

A/c No. [protected]
email: pillai.[protected]@gmail.com
mobile: +91-[protected]