Exorbitant and unreasonable transaction charges by Axis Bank in the name of "Consolidated Charge for A/c"

I regret to inform you that neither was I prepared, nor have you properly alerted me to meet a huge penal charges, prior to the following said charges those you have levied in my said savings account. Now it appears to me clear that while opening the account your representative visited my house and mislead me about the product, he did not provide me complete details about the product but he just made me to fill only the signature fields and the rest portion was filled by him in his chosen place. Also for the following stated reasons, now I can not take further risk of depositing money to my said savings account for the possibility that it will definitely disturb my financial plannings with my allocated fund, as it is already put me in financial jeopardy that my payees are not likely to receive money from said account till the dispute is reasonably settled with your bank.

The nature of my complaints against your bank is based on the following paragraphs.

1. That your bank's policy to charge said Account with Rs. 750.00 plus relevant Tax Rs. 77.25 quarterly, for non maintenance of AQB Rs. 2500.00 is understandable.

2. However, I feel pain for the policy of your bank in financially penalising me by charging and your wish in forfeiting Rs. 1200.00 Plus relevant tax Rs. 123.60 more from my own money is very much unreasonable. You can not really levy such a huge charge out of only AQB of Rs. 2500.00!

3. As a matter of fact, you have wished to penalising me with a total charge of Rs. 2150.85 out of only Rs. 2500.00 from the required AQB!

4. The transaction charges of Rs.100.00 per transaction is just unreasonable, ridiculous, unacceptable and unfair trade practice by your bank given the fact that while your Bank has already levied Rs. 750.00 to my account for non-maintenance of AQB then you can not really penalise me again under different heads, like transaction charges.

5. You must be aware that the Cost of maintenance such of a savings account with your bank is unreasonably higher, compared to the maintenance cost of a similar account with a nationalized bank e.g. SBI, Bank of India, Bank of Baroda etc.

6. Please note that such of your acts not only puts this consumer in financial jeopardy but also violates the rights of this consumer given the fact that if prices are exorbitant, if the consumer is unable to choose on an informed basis, then his money is wasted, his health and safety may be threatened, and national interest suffers.