Kotak Mahindra Bank — Harassment - foreclosure of personal loan

Address:	560015
Website:	www.kotak.com/personal-banking/loans/personal-loans.html

On 15th july, i've done a complete foreclose payment of the pending amount of my person loan. as informed, the personal account was supposed to be closed within 5 days and noc to be sent within 5 days to my communication address.

On 20th july, when i called up the loan team via kotak customer care number, they told me that your account is still active. the person assured me that he has marked an email to the loan team requesting them to close this account as the payment has been made 5 days ago. he also told me that the account will be closed within 7 working days from 20th july.

Today on 4th aug, when i called the customer care again to confirm if the account was closed, the person representing kmb (mr. rahul) told me that the account is still active and the bank is still calculating per day interest on the loan amount taken. he also told me that as my monthly instl. due date is 10th of every month, it might happen that the instl. amount will be deducted this month too.

His exact words were,

"i agree that it's our bank's mistake to not close the account and continue calculating interest per day even if you have done the complete foreclose payment, there are chances that your next installment might be deducted from your bank account. you will have to file for a refund and call the customer again."

Isn't this ridiculous? why am i paying them service charge for? this is not service, this is pure harassment.

Post this conversation, i've emailed all the members of senior management of kmb about this (from executive vice chairman and managing director mr. uday kotak to joint managing director mr. d. gupta & mr. c. jayaram to country heads mr. k. v. s. manian, ms. s. ekambaram, mr. s. narayan & mr. j. hansraj).

I'm not sure whether that'll help but they should feel ashamed of their services.

I'll be glad if consumer complaints team can help me on this. i'm fed up of kotak bank now.