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[Resolved]  Kotak Mahindra Bank — Trinity account

Dear Sir,

I am holding a savings account with Kotak Mahindra bank, which was opened on the pretext of providing a free trinity account. I already have 2 savings accounts with other reputed banks and I did not need another savings account. The bank informed me about the free savings account ( no joining fees/annual fees/ no minimum balance to be maintained), demat account and trading account. I have emails from the banks in this regard to prove my point. I provided them with necessary documents like my salary account statement, address proof and pan card copy and a check of Rs.750. The savings account was opened and in the meanwhile the assistant manager whom I was dealing with left the company and as promised the demat and trading accounts were not opened. When I contacted the manager, she was not aware of the communication and she could not track my documents. Then I requested her to close the account for which she asked us to keep the account for 6 months and it will close on it's own. And to my astonishment, after about 10 months, I got an email informing about negetive balance in my account. I contacted the branch manager and explained the situation and he reversed the charges and after several requests sent the closure form, which I filled and sent back. Even after six months from that, the account is not closed and balance has again shifted to negetive. I am being bothered or rather harrased every morning by the negetive balance messages on my email and mobile. Now to add to the misery, I learnt that the branch manager is no longer in the company and the bank is not responding to my queries. Please let me know what action should I take to end this horrible episode and punish the bank for it's callous attitude which led me to suffer for two years.

Thanking you,
Sanjeev Kulkarni
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Aug 14, 2020
Complaint marked as Resolved 
Complaint comments  8 CommentsShareTweet


Kotak Mahindra Bank — Closure of Account without informing


We opened a joint account (I and my husband) with Kotak Mahindra Bank in Bangalore in 2007. We moved of Bangalore, India in 2008. Since this was not our primary account we did not manage it however we managed our investments thru this account.

In December 2009, Kotak Mahindra closed our account without even informing us. None of the customer relationship managers nor anyone else supported us during the same.

Because of this lack of information we have lost money (to the tune of a lac) and yet they refuse to accept their mistake.

In fact the Bank does not even apologise for the inconvenience and loss. Can someone help me to address the same with the bank and let the CEO and Uday Kotak know what lackadaisial attitude his people have towards its customers.

This is the most unprofessional bank i have ever come across.
I believe Kotak is the WORST BANK i have ever transacted with. They charged me Rs. 840 for non maintenance of minimum balance. Orignally they promised me that the min. bal. is Rs. 5000 coz i have trading and demat accounts with the Kotak. However, after sometime i see this hefty charge, once i called up they said that min. bal. requirement has increased from 5k to 10k. When I asked that why i wasn't informed of the increase in the min. bal. requirement, they replied that we usually send the letter but it might have not reached you coz of postal deptt. mistake or whatever. Then I requested them that you should reverse the charge coz i wasn't informed of increase of min. bal. amount. They said that you can keep a min. bal. of 10k for next 6 months and then "we can talk to the Manager for waiving off the charges". I said WTF, am I going to remember your Rs. 850 charges for next 6 months.. WTF... Hell... I just sold all my Stocks and Futures and Options from Kotak Securities rightaway on the same day... and I have downloaded the Bank Account closure forms.. Now I am going to close all my Kotak Accounts and never ever transact with them... There are hell lot of banks in India and thousands of Brokerage houses...
I had similar experience like Pravin...
I too faced the same above issue and i am closing my account immediately with this kind of worst bank, they also deducted my money without any notice or information and they are not ready to give there phone numbers also for further communication too...
I am also facing the same issue.Can any one suggest me, , How to close the Trinity account from Kotak Mahindra online.

561 rs deduct from my salary a/c

561 re's deduct from m salary a/c, without my information.This is salary a/c so why this deduction contact no:[protected] e-mail [protected]
Hi, Apologies for the inconvenience caused to you. We request you to kindly provide your Customer relationship number / Account Number/ Contact number to us at solutions.[protected] enabling us to investigate the matter and assist you further. ^Kotak Team
Hi Praveen,

We regret the inconvenience caused. Please share your client ID and contact number at ks.[protected] for our customer service team to get in touch with you and address your concerns at the earliest.

Team Kotak Securities

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