Kotak Mahindra Bank Complaints & Reviews

This is 4th time, i have to write this email. I did not received any response for the last 3 times. I have salary account and a personal loan with kotak mahindra bank. I paid all the 3 emi on time. Actually the emi was debited through the salary account automatically. Still my cibil shows late payment for kotak mahinda bank. If i will not get satisfactory answer and the issue is not resolved within 7 days, i will complain to banking ombudsman....

In april, when my bill amount was 1, 44, 000, i was billed 1, 09, 000. I paid 75, 000 of this amount. The next month i was charged interest of 9, 000. At this point i need clarification on the bill which i had to chase kotak customer care for 2 months to finally get clarification.
Due to this confusion, i requested for a waiver of interest charges. The subsequent month, due to lack of clarification, i delayed paying the entire bill amount. I ensured i paid 50% of the amount due. I was shocked to find out that kotak charged me interest for the entire bill amount as well as unbilled transactions.
This is after mentioning on their site that interest amount is 3.5% of outstanding balance, not all balance. The customer care centre's service is pathetic. They refused to connect me to their manager and kept me on hold for more than 20 minutes whenever i called them. I have wasted many hours trying to contact the right person from kotak to clarify some issues but to no avail. Every time i was given promises of a callback which did not happen. I even raised a grievance redressal complaint on their site which was ignored. I requested for an explanation of interest charges and i was informed that i will get it by mail but haven't got it as yet.
I asked them to waive off 50% of the charges as there were mistakes at their end as well. After spending more than 7 lakhs over 3 years on my kotak credit card, i am hurt and irate that they refused to waive off interest charges of even a single rupee.
Hence i have decided that such banks cannot be allowed to bully customers and charge interest charges of 25% per month of 300% per year. It is the government's duty to protect helpless citizens from corporate vultures like kotak. I want to take legal action against kotak for
1. Wrongful billing
2. No clarification on billing despite several requests
3. No reply to my grievance
4. Deceitful communication of interest charges in order to confuse and hoodwink the customers

I will be clearing the entire amount of my credit card minus 24000 of wrongful interest charges.
@kotak: you had to choice to retain a valuable customer who has spent on an average rs 30000 per month on your credit card for a simple waiver of rs 12000 (50% of the interest charges). But the mental trauma and harassment i received due to your apathy, i will not be paying a single rupee of the interest charges and have decided to pursue this legally to help other customers and show that we are not helpless in front of big ruthless banks

Here we are opened our current account on 25.8.17, and asking for bank guarantee request, till now they are not opened my bank guarantee, almost 30 days over, very worst response, very poor reply, dead slow response, i never ever get this much of poor bank activities, pls correct your bank first,

Kotak bank
Madurai branch in lic building
Madurai 625001

It has been well over a month that i have not received my remittance from payoneer due to details not provided by kotak bank.

Whenever i will call my branch manager or the assigner person they will say that they have emailed to exchange house and they will get back to me once they hear from the exchange house.

But guess what! They never hear back from them. It's been more than 10 days they are still paying me the same.

Also, they asked me for some documents called fema, i filled it and gave them back. But they never sent it to the concerned bank and my transactions were rejected by payoneer.

Payoneer also sent me an email saying they never heard back from kotak bank regarding information they needed and i already sent them the details weeks back! Even payoneer told me to change your bank as they are not responding. What a shame!

Now again when i called at my branch, they are saying that they are waiting to hear from the exchange house.

The request still remains unsolved.

Finally my savings account got opened but with wrong e-mail id of mine. While requesting customer care, i have been asked to visit branch to get it corrected which is completely not possible. Strange that such small things cannot be modified online or through a customer care agent. Below average banking services.
Also, it's remarkable to know that there is no direct option to speak to cc agent directly through the ivr. Unbelievable!

I would be happy to get this account deactivated immediately and also, will inform my company not to promote this for their employees.

Vimal arora
Accenture - avp
[protected]
Vimal. [protected]@gmail.com

Sir
Today morning by 6.24 am, i got msg from ur side that y ou are unable to process the cheque no 3 for rs 1000 due to insfficient funds. Now i have credited the amt to my account. Hence i request you to take necessary action for this and
Pls pass the cheque no 3 for rs 1000 as now the a/c having the amount
Me
Thank you

Sincerely
Peter sam

Due to some reason my cibil got reduced. I told everything, while interacting with kotak bank customer care. My cibil is 693.. They told 400 is minimum in kotak so they can process and i have submitted my docs on 6th sep. After then i tried to find application with app no in net. Status is declined on 9th sep, however address verification is done afterwards only. Even. I asked executive he told it is under process. Still now i didnt get status. Executive number is switched off and customer care they are not helping with this. Many times i have called they are saying they will get the details and ll call back. But no calls. For requirment only we r applying loan. If it is approved or rejected it should convey to customer. No proper communication. Now kotak bank is in second place in pvt bank in india. But i didnt expect this type of response from you.

I hope after seeing this feedback u ll communicate the status.
Loan application number 00913764

Dear team i had a car loan in tata capital which got merged in your bank i had deposited all my dues also i got a soft copy from ur bank representative 16th sept but still the hard copy is pending. I got the pod number from ur representative on 22nd sept 2017 but i dont know how is this possible that the couriour has been returned and now the status is showing that it is bokaro.
Courior name is blue dart
Pod no is [protected]
The person taking care of al these things are mr dipendu from kolkatta his number is [protected].

Dear team i need it on urgent basis please do the needfull

With out my knowledge my account got freezed, called to customer care but received proper answer, i'm disappointed with you're services bank people freezing my account for unnessory issues which r not related to me, resolve it asap. It is 2nd time bank freezed my account before also & released but this is not correct you people can't do what ever you want with customer account, solve this issue as early as possible

Hi,
Please find attached herewith. I have received a call on 25.09.2017 at 05.02pm number [protected] stating him as ajay kumar or similar. As per the telephonic talks he has informed that we will refund you the aforesaid amount deducted from your kotak mahindra bank — credit card no: [protected].
I hereby request to please refund me the aforesaid amount at earliest.

I had taken a credit card from kotak bank. They did not send me paper statement even after i opted for it. They sent electronic one only which goes to spam folder. As i did not receive paper statement, i got to know about it late. I made the payment of the purchase amount immediately and i told this to them. Customer service person told me to waive of charges as courtesy. However after few days i got alert for another payment due. I saw and it says late payment and interest charges of 1028. I enquired and they said that first charge was waived off but this was after late payment so another change which include late and finance charge and gst. So for a purchase of 6700 they want me to pay 1028 extra. I told i had regestered for paper bill and i never got and hence delay even kotak card assist mail also confirmed the same to me. But still even after repeated follow-ups they have not refunded me 1028 and asking me to pay for it. I am totally fed up of this bank. Completely believe in siphoning off money from new customers.

Hey there,

I am your existing customer as i already mentioned. I don't know what the hell is going on with your services. First your customer care of [protected] and [protected], both numbers i am trying since last 25 days and every time called these number it ask me for my credit card details and when i enter card number it says "we are sorry we cannot process your request we are transferring your call to our care officer" and that is not enough after this call got disconnected, what the hell is that would anyone tell me for this???
Not even this every time i need to contact to your executive i have to do this at least 10 times and sometimes i have to try this till 2 or 3 days to wait to connect my call with your executive, i have to enter 10-12 times my card details but still there is no response and call got disconnect after entering card details. Not only this one more issue is there, i got a call from your end and girl said i have a pre-approved cash on call loan i only have to give my few details after amount would be credited in my kotak account. She told me to wait 10 days, that was 08 sep 2017 and now date is 26 sep 2017. I got mail from your end stating that your request has been processed, i tried customer care and i got connected with them after two days and after 50-60 tries. He told me that girl chose my wrong credit card number that is why my loan has not been processed. He raised request again on 16 sep 2017. The same hell thing happened again. I tried customer care and i got connected with them after two days and after 50-60 tries. I talk a boy who said my loan is rejected because of my cibil. Now he told me a new hell thing, for your information my cibil is 780 if you know about cibil this is not a bad cibil score. Then what the hell reason behind rejection of my loan, and how the hell can my pre-approved be rejected??? Do know the meaning of pre-approved??
I need an answer on this otherwise i will go further to get my answer on your services. I will show it up to the facebook twitter and each and every social media site.
My service request numbers are
08 sep 2017 : 1-[protected]
16 sep 2017 : 1-[protected].
In last on your website i tried to open level 1 and level 2 complaint page but when i clicked on that it shows only blank page to me nothing else that is why i escalate my issue on level 2.
Resolve all these issues of 1. Your customer care executive knowledge and training
2. Your customer care ivr and connecting issue.
3. Your website glitch.
Otherwise your bank is not gong to run further.
I also have all call recordings of failure connectivity and screenshot of your website failure.
I could send if there would be some option in this.
Call me for further details.

Thanks & regards
Faizan ahamed siddique
[protected]

There are incorrect charges on my credit card. Which they have refuse to reverse and i can nor escalate it further because their website doesn't respond.

My complain is about gst charges on my card which was applied on annual charges of the card. They reversed my annual charges but gst applied on it was not reversed. They said they can not reverse the charges due to internal policy of the bank.

I went to there website to escalate this issue further, i filled up form an submit it but it is not submitted. I tried it several times. My point is this thy take gst and pay it to government so how could it be the matter of bank's internal policy.

If the charges on card has been taken back then why am i paying tax (Gst) for.

Please suggest my email id is [protected]@gmail.com

Sir, i rajnikant jain having 3 c/ac &10 saving ac, my pro dosnt have time i compld branch manager he also talked with me on phn saying i will come to your office & fullfill your reqmnt, but i think now your bank dosn't want costmrs so it is request that your bank dos't have time &i would like close all my accounts fm ur bank kindly guide about closing procidure.

I have applied for kotak personal loan and got approved on 16th sep 2017.
But yet not received the amount in account. Had given bt details for hdfc bank. Kotak customer care says bt is done but hdfc says they haven't received dd yet. I am trying to follow up with customer care but no clear statement is provided.in my account it is already displaying pl details with emi due date as 10th oct 2017. Kotak bank is expecting me to start paying emi for a amount that i haven't received yet.
Relationship managers are not answering the calls even after calling multiple times.
[protected] megha bhatnagar - kotak bank
Bharath pathak - [protected]

Worst service of kotak mahindra bank thippasandra branch.
It all started on 3rd of sept i had approached kotak representative mr tarun for opening my current account and edc machine for my new business, as promised by mr tarun that to open an account it will take max 3 to 4 days and same for the edc card machine, as i was in need of edc card machine so i wanted the process to finish off quickly. So i was
To expecting the whole process to complete in about 8- 9 days max. Now the real thing started after rigorous followups with mr. Tarun my account was opened which took about 15 to 18 days. Now i am rigorously following up for my edc machine which was required on priority and that was my main condition to go ahead for there services, but fortunately or unfortunately mr. Tarun stopped responding. So i decided to go to the branch and meet the manager. I met ms anitha on 22 sept 2017 and raised my concerns after hearing all my concerns ms anitha gave another commitment that it will be done as soon as possible, even after speaking to so called bank manager things dint seems to be changing so i followed up again and spoke to mr naresh again he said concern person will call you then i get a call from mr. Murali on 22nd evening and said he will come and collect the documents on 23rd sept but i dint see any response from on 23rd so i called him to check whether he is coming to collect the documents he said he will come on monday ie:25th sept and start the process. Whats socking here is there is no update and he never turned up and we as customer we have to followup. I guss even government banks have better service then kotak. Again i see there was no response so i called up ms anitha (Branch manager) again i got to know same thing that she will check and get back still iam waiting for her to get back. I did try to call her back she is not answering my calls. So how can i trust on this bank that it will safe guard my money. Its so surprising and shocking really pathetic service i would never suggest anybody and also will be withdrawing my services with kotak.

Dear sir / mam,
This to inform you that i have been cheated by you bank staff as they told me that you have to pay joining free of rs 499 of credit card but in revert we will give two movie voucher. And then after when i have called customer care they told me that their is no such offer after the long argument they told me that yes their was an offer at that time and we send your voucher in 2-3 day but i havent recieved any voucher then again i called customer they again refused that their was no such offer (Interaction 1-[protected]) but can refund you joiing fees. But i have got that too and now i m pissed off from your services. And now i am going to post my reviews on social media that gona tell you how to cheat. And not ganna pay any outstanding.
Crn no[protected]

I had taken a personal loan from ing vysya bank, which later got merged with kotak mahindra bank.

When i took loan from ing vysya bank, there were no pre closure charges and no conditions of prior intimation. I called up the customer care of kotak mahindra and informed them that i need to close my running personal loan. They said that they will take at least 15 working days to process my request and there shall be additional 4% charges on remaining principal amount. These conditions were not there when i took loan from ing vysya. Now i feel like cheated, because after merger of these two banks, kotak mahindra never informed me about these changes in their policies.

Kotak executive called me for credit card and assured credit of 70k. He issued credit card of 30k credit limit after 15 days. I called the executive and cancelled my card. He said the credit card is cancelled from bank. But after one week, without informing he activated one asst service which was charged 1299/-. Now for cancellation they are telling it will take 15 days and if statement is generated i will be charged 1299/- also i have called to cancel card it is still not done. This is how i have been fooled and bank is activating new way of cheating their customers. It want my one asst services to get deactivated instantly and credit card to be cancelled.

Date : 25 September 2017
My credit balance has been 33602 yesterday and when I have tried to pay the outstanding balance (i.e 11398), I have seen that the outstanding balance has been changed to 17, 532 with available credit balance 27, 468. There has not been a history of transactions between these dates. So can you please look ino this issue

Acco