I have made repeated request for reversal of finance charges rs 2739 + rs 411 (Service tax) levied in jan 2017 statement nonpayment of full amount by due date. No action has been taken by kotak bank. The finance charges deducted are approximately 4% per month, meaning more than 50% per year which is totally incorrect. Reversal was not been done in spite of advise by customer care for making immediate payment before due date. I have written many letters and emails but no response.
Reasons given by me were:
1. I have recently shifted from new delhi to chennai and i was busy in settling down so i could not update my address and did not receive statement. Now i have updated my address.
2. It is not possible to log in kotak netbanking without otp. My email in kotak bank was incorrectly recorded by kotak in their record so i was not able to get otp. Due to verdah cyclone mobile networks were not properly working in chennai, and i was getting otp on my mobile.
4. My purchase on 4th of month was always considered in next month statement.in dec 2016 i made transaction of rs 11580/- on 04/12/2016 in big bazaar, and i expected this transaction to appear in next month’s i. E january statement. My other transactions of 4/12/2016 have come in january statement. Without considering big bazaar transaction, i from my side deposited higher amount than due before my due date.
5. When i came to know about outstanding of dec 2016 after logging on 29th dec, i immediately deposited rs 8000/-. When confirmation did not come i deposited rs 8000/ again. There is no much delay in payment of full amount also.
6. Customer care officer told me that my request for waiver can be considered after payment of full due amount and advised me to immediately deposit all pending and then again make request. I had rs 63260/- pending and due date was 26/01/2017 but i immediately deposited the same on 06/01/2017.
7. I am always paying my full dues before due date and this case has been exception because of reason explained above. I have not agreed to converting 65900/- amount to emi because finance charges which were around rs 2000/-.
My card no is 4147 xx16 0xx3 5367
R. K. Mehta Was this information helpful? | 
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