I have been overcharged for an over limit fee which started as INR 900/- in Jan 2013 and today with interest it is almost @ INR 20000/- which I have disputed with the Bank authorities including the Nodal officer. I was offered a child insurance plan which I enrolled and I was advised that the credit amount can be used to pay the first annual premium of INR36000/-. I did this because I was offered a 9 months interest free plan on the credit card by Vinay Manchala, Ramana Venkat and Sanjay Saniyal(head corporate salaries of Kotak) I used the ECS service from my Kotak savings account to pay the minimum due on my kotak credit card account.The defined due date was 12th of every month however the statements never had a fixed due date as promised. In Jan 2013 I was charged an amount approx INR 900/-as Over limit fee whereas no extra purchases were made using the credit card except for the payment made for the insurance premium.I had disputed that charge in Feb 2013 asking the Bank authorities to research and revert the charges. The initial offer and agreement while selling the product of no interest for 9 months was not honored by Kotak bank and I have disputed the same at all levels including the nodal officer and to the CEO. Every time the issue was being passed to another person or department without any solution. It has been a year that I have patiently waited for a solution and made minimum payments diligently.

I received a call on 12th Dec 2013 from Sharath Shetty(nodal officer) stating that they have resolved the issue and would be reverting the charges and that I would have to make a payment for the amount I owe i,e. INR 36000 minus the payments made during the year 2013. I asked the personnel to send the consolidated statement and the amount that I would finally owe Kotak bank. I get another mail from the nodal office on 20th stating that they are still researching the case and need more time to resolve the case. I request you to please help resolve this ongoing problem and help me make a payment for what i actually owe the credit card company.

Complainant Information
name- Sannu