Kotak Mahindra Bank — Interest credited is less than maturity amount specified

Address:	380015
Website:	www.kotak.com

I opened a TD on 14th June 2015 of Rs. 40, 000 @8.5% interest rate. The maturity amount of the TD was Rs. 48, 960 and was maturing on 15th June 2016.

On 15th June 2016, the TD matured normally but the maturity amount credited was only Rs. 48, 743 (Rs. 217 less than promised maturity amount). I even got a mail of Term Deposit Maturity stating that my maturity amount of Rs. 48, 960 has been credited, but actual amount credited was Rs.48, 743.

Its not a matter of Rs.200, but I have multiple FD's with this bank. And if this is going to happen to other FDs, I need to close them all and transfer it to other bank where they are more transparent to the customers.

I hope the concerned authorities can resolve this issue.