Kotak Mahindra Bank Complaints & Reviews

It almost 3 4 month of opening 811 account and applied for debit card. They have charged me for debit card but yet nothing is received they are saying the delivery person is unable to find my house but how that is possible when amazon flipkart postman every one can find my house but how is that possible if 811 is unable to deliver my debit card then close my 811 account asap

Hi team,

With respect to my above stated car loan had recently applied for a top up loan with kotak. For which a new crn ie., *3810 received a credit of rs. 412752 on 28th may 2018.

Interest rate towards my car loan was confirmed as 9% during sanctioning of the loan however, when the welcome kit was received it is bought to my notice that the loan disbursed was a collateral loan with 15% interest rate which was never my requirement.
Also, it was then brought to my understanding that the emi of inr 14800 will be deducted from kotak saving account plus the inr 12000.00 emi will be deducted from my standard chartered salary account.
This came in as a big surprise to me since the conversation that i had with executive was totally different to what it was presented.

This was clearly a miscommunication on the product. Since, the executive did not understand my requirement and proceeded with loan approval.

Am really not sure how the cts calculation was done by the bank during the processing of this loan that this eligibility was derived since, my income per month is 66000.00 and i have a personal loan of 13801 + joint homeloan with emi 34100 + car loan 12000.

I am really frustrated as well as disappointed with the way the process of this loan has taken place which has put me into a financial crisis which will lead to defaults registration under my cibil history.

Hence would request you to cancel the loan that is been approved and retrive the amount from the kotak saving account with above crn.

Would request you to kindly take this email as a written confirmation on cancellation of the above loan.

I am happy to walk up to a branch to get this sorted and if needed i would lodge a complaint in consumer court since its my financial obligation.

Hope i will get a better solution for my complaint.

Regards,
Museeb syed

Dear sir,

I'm holding salary account with kotak mahindra bank for the past 7 years and maintaining good service with them. For the past 4 years kotak mahindra bank is debiting 330rs+12 rs on may month stating that it's for prime minister insurance scheme, where as i've not at all opted for this bloody scheme.

I don't know how they are debiting my hard earned money without my signature on standing instructions. When i called customer care for the past 3 years they didn't give proper response and yesterday i've approached parry's branch, they also not giving proper response as they don't have records that i've opted this scheme.

How come you debit my money without my confirmation. I want the money back (Last 4 years) which was debited to credit back to my account.

My bank account number is [protected]

Regards,

Yuvaraj.

I am suresh, i've joined kotak probationary officer program in 2013 at manipal, at the time of joining i did submit my original academic certificates (10th, intermediate and engineering). Latterly, i've cleared my kotak personal loan which i borrowed 4 years ago. All my colleagues who have joined with me had received their original documents already two years ago however i'm the only one still wondering who to contact to get my certificates back. Please, could someone help me in this regard.

Regards,

Suresh

Hi
This is inform to that my account Ballance not update kotak bank side and also complaint registered but no buddy response
[protected] amazon refund my Ballance but no any update bank side
I am contact kotak bank helpline but hi is not found any update bank side so what I am doning because my Ballance is invisible
Please any busy help bank is unnesserry charger account and no confirmation customer no received any msg this is very poor policy is kotak bank.
Please help me
My account[protected]

As i'm no longer employee of previous employer. The salary will not credit to my account. Request you to please close my account contact me on [protected].
It was previous companies responsibility to deactivate the salary account as i am not associate with them for long time. Even i had requested the same. If i am not associated with them then how can i maintain the balance. So requesting kotak team to close my account.

You can contact me on - [protected]@gmail.com

Mere closing letter dene ke bad bhi paisa cut huaa or bank ki galti hone per bhi refund nhi aaya jo ki 23.60 rs tha. Same day 1062 cut huaa uska koi resoan nhi bataya gya so me aapko complain aage government ko ker rha hu. So aap ya to mera paise return deve ya me aapki complain court me submit kera deta hu or aapka bank se me account close ker deta hu

Sir,

My name is preetham reddy took a loan with worst and filled with criminal bank kotak. I get nearly 30 to 40 calls a day from kotak speaking to in bad language, threatening and mentally harassing me am unable to work in my office. Loan account number spln59659611. Please help me out to file a legal complaint against this bank. I never expected this kind of rowdies are running this kotak bank.

To whomsoever it may concern,
My credit card was hacked a few days ago. I spoke to one the customer care people and got my card blocked. I even filled up the dispute form and mailed it in. Now, as its been blocked, i told the customer care person, i will not be paying the bill. Why i am still being charged for it and why hasn't any action been taken? Please put the money back and stop asking me to pay the bill.

To,

KOTAK MAHINDRA BANK LIMITED
CIN: L65110MH1985PLC038137
27BKC, C - 27, G-Block, Bandra-Kurla Complex, Bandra East, Mumbai - 400051. Tel No.: +[protected], Fax No.: +[protected]. Website: www.kotak.com

I would like to update you all that its been 4 Months now still my issue with Kotak Mahindra Bank Limited is NOT RESOLVED. Bank Charges still have not been reversed for my connected family account bearing Account No. [protected] & [protected] and still Bank Charges are being levied inspite of having maintaining sufficient balance in my main account no. [protected].

Your Bank has once again failed to carry out basic banking activities and I can conclude that it has has been found NEGLIGENT IN RENDERING SERVICES and have not complied with RBI Guidelines and Rules in regards to levy of Minimum Balance Charges. It also have been found guilty of misselling its banking products and services and making false assurance and claims to sell its products and services to the customers.

PLEASE LET ME KNOW WHY THIS IS HAPPENING AND WHY INSPITE OF ASSURING ME AT THE TIME OF OPENING ACCOUNT WITH YOUR BANK THAT I ONLY NEED TO MAINTAIN BALANCE IN MY MAIN ACCOUNT STILL MINIMUM BALANCE CHARGES ARE BEING LEVIED ?

Why false assurance is given by Kotak Mahindra Bank Officials to sell their products to us?

Reverse all the charges levied in my family accounts immediately.

Your response in this regards will guide my future course of actions on this long pending issues with your Bank.

On Sunday, 28 January 2018 10:18 PM, Asha Kanta Sharma wrote:

Dear Sir/Madam,

I am having a savings bank account in your esteemed Kotak Mahindra Bank having IFSC Code being KKBK0000331. My Savings Bank Account No is [protected] & attached Family Account No. are [protected] & [protected]

Upon checking my said account I have found out that a lot of minimum balance charges were levied in the said account.

As per RBI Guidelines all banks needs to follow certain rules and guidelines for levying any Minimum Balance Charges. The below the extracts from RBI Notifications on the same for your reference and necessary actions on my request for submission of necessary proofs and records of compliance of the same.

Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
RBI/2014-15/308
DBR.Dir.BC.No.47/13.03.00/2014-15
November 20, 2014
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir/Madam
Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Please refer to our circular DBOD.Dir.BC.53/13.10.00/2002-03 dated December 26, 2002 on ‘Minimum Balance in Savings Bank Accounts’ advising banks to inform customers, in a transparent manner, regarding the requirement of minimum balance in savings bank account and levy of penal charges for non-maintenance of the same at the time of opening the account.
2. In this connection, a reference is invited to paragraph 30 of Part B of First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014, regarding ‘Developmental and Regulatory Policies’ proposing certain measures towards consumer protection. One of the proposals contained therein was that banks should not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level. A reference is also invited to the recommendations of Damodaran Committee on customer service in banks which, inter-alia, recommended that ‘banks should inform the customer immediately on the balance in the account breaching minimum balance and the applicable penal charges for not maintaining the balance by SMS/Email/letter. Further, the penal charges levied should be in proportion to the shortfall observed’.
3. The policy announcement has been reviewed after extensive consultation with banks. Consequent to these deliberations and after taking into consideration the recommendation of Damodaran Committee, it has been decided that while levying charges for non-maintenance of minimum balance in savings bank account, banks shall adhere to the additional guidelines given in Annex. The guidelines come into effect from April 1, 2015.
4. These guidelines should be brought to the notice of all customers apart from being disclosed on the bank’s website.
5. In the meantime, all banks are advised to take immediate steps to update customer information so as to facilitate sending alerts through electronic modes (SMSs/emails etc) for effective implementation of the guidelines.
Yours faithfully
(Lily Vadera)
Chief General Manager
Annex
Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.
(iii) The policy on penal charges to be so levied may be decided with the approval of Board of the bank.
(iv) The penal charges should be directly proportionate to the extent of shortfall observed. In other words, the charges should be a fixed percentage levied on the amount of difference between the actual balance maintained and the minimum balance as agreed upon at the time of opening of account. A suitable slab structure for recovery of charges may be finalized.
(v) It should be ensured that such penal charges are reasonable and not out of line with the average cost of providing the services.
(vi) It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

In regards to the above give me all the proofs/records/data in regards to the compliance of your Kotak Mahindra Bank of RBI Guidelines in regards to the levy of Minimum Balance Charges.

With Regards,
Mr. Asha Kanta Sharma (Ashok)
Senior Accounts Executive
Best IT World (India) Private Limited
1st Floor, L L Tower, Tarun Nagar,
Main Road, Guwahati - 781005, Assam.
Mobile No. +[protected] / +[protected]
E-Mail:- [protected]@yahoo.co.in / [protected]@gmail.com

Head Office:
Best IT World (India) Private Limited
87, Mistry Industrial Complex,
M.I.D.C. Cross Road 'A', Andheri East,
Mumbai - 400093, Maharashtra.
Website: www.iball.co.in

On Sunday, 28 January 2018 9:56 PM, Asha Kanta Sharma wrote:

Dear Sir/Madam,

I am having a savings bank account in your esteemed Kotak Mahindra Bank having IFSC Code being KKBK0000331. My Savings Bank Account No is [protected] & attached Family Account No. are [protected] & [protected]

Upon checking my said account I have found out that a lot of minimum balance charges were levied in the said account.

As per RBI Guidelines all banks needs to follow certain rules and guidelines for levying any Minimum Balance Charges. The below the extracts from RBI Notifications on the same for your reference and necessary actions on my request for submission of necessary proofs and records of compliance of the same.

Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
RBI/2014-15/308
DBR.Dir.BC.No.47/13.03.00/2014-15
November 20, 2014
All Scheduled Commercial Banks
(Excluding RRBs)
Dear Sir/Madam
Levy of penal charges on non-maintenance of minimum balances in savings bank accounts
Please refer to our circular DBOD.Dir.BC.53/13.10.00/2002-03 dated December 26, 2002 on ‘Minimum Balance in Savings Bank Accounts’ advising banks to inform customers, in a transparent manner, regarding the requirement of minimum balance in savings bank account and levy of penal charges for non-maintenance of the same at the time of opening the account.
2. In this connection, a reference is invited to paragraph 30 of Part B of First Bi-monthly Monetary Policy Statement, 2014-15 announced on April 1, 2014, regarding ‘Developmental and Regulatory Policies’ proposing certain measures towards consumer protection. One of the proposals contained therein was that banks should not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to Basic Savings Bank Deposit Accounts and restore the services when the balances improve to the minimum required level. A reference is also invited to the recommendations of Damodaran Committee on customer service in banks which, inter-alia, recommended that ‘banks should inform the customer immediately on the balance in the account breaching minimum balance and the applicable penal charges for not maintaining the balance by SMS/Email/letter. Further, the penal charges levied should be in proportion to the shortfall observed’.
3. The policy announcement has been reviewed after extensive consultation with banks. Consequent to these deliberations and after taking into consideration the recommendation of Damodaran Committee, it has been decided that while levying charges for non-maintenance of minimum balance in savings bank account, banks shall adhere to the additional guidelines given in Annex. The guidelines come into effect from April 1, 2015.
4. These guidelines should be brought to the notice of all customers apart from being disclosed on the bank’s website.
5. In the meantime, all banks are advised to take immediate steps to update customer information so as to facilitate sending alerts through electronic modes (SMSs/emails etc) for effective implementation of the guidelines.
Yours faithfully
(Lily Vadera)
Chief General Manager
Annex
Levy of charges for non-maintenance of minimum balance in savings bank account shall be subject to the following additional guidelines:
(i) In the event of a default in maintenance of minimum balance/average minimum balance as agreed to between the bank and customer, the bank should notify the customer clearly by SMS/ email/ letter etc. that in the event of the minimum balance not being restored in the account within a month from the date of notice, penal charges will be applicable.
(ii) In case the minimum balance is not restored within a reasonable period, which shall not be less than one month from the date of notice of shortfall, penal charges may be recovered under intimation to the account holder.
(iii) The policy on penal charges to be so levied may be decided with the approval of Board of the bank.
(iv) The penal charges should be directly proportionate to the extent of shortfall observed. In other words, the charges should be a fixed percentage levied on the amount of difference between the actual balance maintained and the minimum balance as agreed upon at the time of opening of account. A suitable slab structure for recovery of charges may be finalized.
(v) It should be ensured that such penal charges are reasonable and not out of line with the average cost of providing the services.
(vi) It should be ensured that the balance in the savings account does not turn into negative balance solely on account of levy of charges for non-maintenance of minimum balance.

In regards to the above give me all the proofs/records/data in regards to the compliance of your Kotak Mahindra Bank of RBI Guidelines in regards to the levy of Minimum Balance Charges.

With Regards,
Mr. Asha Kanta Sharma (Ashok)
Senior Accounts Executive
Best IT World (India) Private Limited
1st Floor, L L Tower, Tarun Nagar,
Main Road, Guwahati - 781005, Assam.
Mobile No. +[protected] / +[protected]
E-Mail:- [protected]@yahoo.co.in / [protected]@gmail.com

Head Office:
Best IT World (India) Private Limited
87, Mistry Industrial Complex,
M.I.D.C. Cross Road 'A', Andheri East,
Mumbai - 400093, Maharashtra.
Website: www.iball.co.in

As i'm no longer employee of previous employer. The salary will not credit to my account. Request you to please close my account contact me on [protected].
It was previous companies responsibility to deactivate the salary account as i am not associate with them for long time. Even i had requested the same. If i am not associated with them then how can i maintain the balance. So requesting kotak team to close my account.

You can contact e on [protected] or [protected]@gmail.com

Respected Sir/Madam
This is in regards to the continuous harassment made by Kotak Mahindra bank credit card collection agency

Today before the due date executive visited at mt residences, harassing us unnecessary, is was busy in meeting at office, he directly visited my residence
i called telecaller arguing with me ph no is [protected], Mr Akshay visited at my residence is no is [protected]

its very bad experience i using other bank credit card, but no such harassment is done

Hi i am kumud gupta and i am working cts bangalore. On 22-may-2018 at 03:25 pm and 03:28 pm two unauthorized transaction has done which deduct 10000 and 10000 deducted and total 20000 deducted from my account. And immediately i contact to kotak mahindra and file complaint and my refrence for kmbl this number 1-[protected]. Its really a big money for me and they were saying that probably you will get money or not. Even for this they are saying it 1 will take 90 days. I dont understand what to do in this scenerio. Please suggest.

I had not used my card and further i got the bill of 3000 smthing bill on purchase but i had nt done any purchase earlier further i had purchased a mobile and in unwanted way they are adding the charges so plzz first of all clear my doubts after thn i will pay the amount. So kindly arrange a call or mail me with each and every amount where it had deducted i had done a payment of 2100 it is nt mentioned over there.

Hi sir/madam,
I submitted account closing form (formid#4785366) in branch 'sanath Nagar' Kotak bank today (24thMay2018) and verified with bank official, he said by the evening you will get sms with closing details, but till now no reply from bank. Please help me to close my account with kotak bank.

My crn#[protected]
Account number# [protected]

Please help me to close my account.

Satish Kumar B
[protected]
Sanath nagar, hyderabad

I am holding a savings account in your bank for the past 3 years. I wish to bring to your notice that amount of rs 36000 has been withdrawn from my account on 11th april 2018 at 10 : 15 pm which has not been executed by me from any atm.
When i took printout of mini statement of my account on dated 2nd may 2018 then i was totally shocked that there is no previous amount shown in my account.

I deposited Rs 10000 to my kotak account by using fund my account option in 811 account.But State bank of india account from which i withdrew money shows that Rs 10000 has been withdrawn. But i still didn't recieve the money in kotak account. It has been 48 hrs. I need the money as soon as possible. Please see through it as soon as possible.
Thnku

Hi support i want o be close my saving account in your branch i have visited 2-3 times in bank but they are not supporting and very rude behavior so that;s why now only option is to complain online please take a request on it. I have an account from mandi gobindgarh branch my accout number is [protected] wih name ankush kumar they didn't take request then i request to them please unlink my unique card from my bank account even that is not doing from them due to this behavior i really disappointment with them so my request to their please take a serious action on it.

I was initally given 3 in one account which includes, savings, credit & demat account in that I asked to close demat account but kotak team said one person from kotak will be availble at TechMahindra premises and you can submit him. I was given forecfully this demat account and never used it. I have handed over the documents to Mr Murthy from kotak within 1 yr and as per kotak no one submitted documents for closure.There was a demat charges of 708 in Nov-17 and I have followed up mr Veeresh my account manager and he said to close the demat account and will try for charges reversal.But only 300 is reversed and Iam following up for total demat reversal charges since long time.
but no one is responding.

Dear team,

I am sushant dhure tried to open 811 account, submitted my pan card and addhar card details most probably a year ago. Since that i didn't receive any confirmation from your side as well as the information related to that account. Please if you can share the information with me, so that i can able to close the account or convert it into my salary since i am facing issue for open salary account due to the same.