Kotak Mahindra Bank Complaints & Reviews

I continue to have horrible branch experience with kotak mahindra bank. I recently moved to bangalore from london and visited my nearest branch for a/c conversion from nre/nro to resident.

I was forwarded from one branch to other, but no one could guide me to proper branch where this can be done.

After multiple attempts i decided to visit mg road branch. I explained my issue of nr status change and a/c closure to multiple people, but later one rm agreed to help.

Post my visit, the branch staff including branch manager has met him over 4 times and taken my signature on various documents and forums.
Several emails have been exchanged and no count on the number of calls done to the rm and the branch manager.

Still after 1 month, my account is not closed. Though to cover up the branch targets they have moved my a/c from mumbai to bangalore.

This has been my experience before when i tried opening nre/nro a/c with bkc, mumbai branch. The process took over 45 days at that too.

Kotak has no capacity to handle nri clients..

Would strongly recommend all the nri and resident account holders to move your a/c to other banks (Pref icici or hdfc).

Kotak cannot open or close an account in 45 days.

This is to inform you that, the amount of rs. 2, 013.72/- is wrongly charged for my credit card no. [protected]

(I had force closed my all emi after paying my full payment)

In april 2017, i was so busy with my sisters marriage and missed my due dates of payment.

So from very next day i start getting calls from collection department to pay the due amount of the month. The language they were using...

Respeced sir,

I am taken a loan from citi financial, which no. Is 16042050. After city financial merger, kotak mahindra bank send me a recovery notice through advocate mr. Akhil modi on dt. 22/8/2017. After received the notice i am contact kota customer care and took total dues regarding loan. My total dues of loan is 78270/-, which i paid rs.30000/- on dt. 22/08/2017 and balance rs. 48270/- on dt. 24/08/2017. I was apply noc of loan after payment updation in bank sysyten. But today 05/09/2017, i am again received a letter of intent from advocate mr. Akhil modi's office. The notice date is 28/08/2017. I am mentally harass for this kind of behaviour of bank. Please guide me what i am do.

I am an investor with kotak mutual fund (Folio: 3692658/08). I have invested rs 50, 000 in kotak floater fund on 28 august, 2017. The fund house is yet to allot units against this investment.
I have contacted their chennai office, several times.

I have also sent several e-mails to them, but to no avail.

Please arrange to refund the invested amount of rs50, 000

On 23rd august while doing online credit card payment from kotak mahindra bank savings account to kotak mahindra bank credit card account, received message two times that payment declined. Finally on 3rd try could able to transfer of payment. But i was shocked seeing that payment debited 3 times from my savings account.

Immediately make complain on customer care no & they generate complain no 1-[protected]. On day 7th after complain when found no response from credit card dept. Call customer care & understand previous complain is not valid then & representative receive new complain for the same on 29th august. Another new complain no 1-[protected] generate. Initially customer care rep. Was insisting me to keep the excess amount in my credit card account for future adjustment, later was saying payment will credit after 15 working days, but after so many request customer care rep. Agreed for refund excess payment amount within less than 15 days.

On friday 1st september evening received message that my service request 1-[protected] for excess credit refund is successfully processed and closed. Today after 2 days at late evening 9:50 pm got credit rs.1, 33778.03/- instead of rs.1, 80, 826/-. Which is rs.47, 048/- short payment.

My complain is very simple against kotak mahindra bank credit card.

1. Payment declined while using their own banking portal. Then how come payment debited from my savings account?

2. While make 1st complain, credit card rep. Told me only one payment they received, excess 2 payments showing made by me but was not credited that moment. Then why credit card dept. Not refund me immediately?

3. Why 1st complain was made invalid by credit card dept. Which waste 7 days time?

4. How come a customer care rep. Can insist customer to keep excess amount in credit card account instead of giving proper suggestion & support?

5. Why credit card dept. Refund me less rs. 47, 048/-?

6. Last 13 days i have lost bank interest, who will reimburse me? Because this was happened due to bank portal & my intention was very right to pay credit card payment

On 1st of sep 2017 i got some alerts on my mobile. When i check, those were the transaction alerts and payment was made through my credit card. I checked the possession of credit card and it was with me.

I called kotak bank and initially they disconnected me about 3 times while i was talking to them and eventually i talked to another representative and he blocked my card.

Multiple transactions were done through my credit card, total amount deducted was about rs. 19, 000/-.

Kotak representative told me that it would take around 45 days to fix the matter. Please help to close the matter.
Thanks in advance.

I did 2 tatasky dth recharges from kotak banking app of rs 300 each.
1st recharge at 26th Aug 2017 of 300
2nd recharge at 27th Aug 2017 of 300.
Money deducted from bank but still balance not credited to bank.
After contacting Tatasky support they informed me that there is no recharge done for the same date and money should be refunded within 3 working days, now its more than a week still money not credited yet.
Give me my money back.

Kotak is the worst bank in terms of service, i had called on 29/08/2017 to complaint against the recharge amount that debited however the transaction was failed. The worst happened was the customer care executive blocked my debit card permanently. Apart from this there are many other issues as well. Kotak is worst bank in terms of customer service.

This is to bring in your kind attention that i had a loan from citi financial (Loan no.:[protected] for
Which i have undergone settlement in 2012 with amount of 12500.
I have paid that amount and received settlement letter and receipt for the same.
For last one week i am receiving threatening calls from different numbers
Calling my colleagues and family members and using abusive language. My mother is a heart patient and
Cannot go through this kind of mental pressure.
Requesting you to kindly go through the matter as i am going through mental harassment as well as i am
Not able to work in my office.
Looking forward for a support.

I had applied for a personal loan during the 1st week of aug and after going through my documents your team member mr. Santhosh mr. Vijayan mr. Vinay mr sageer these many people from kotak bank contact me and spoil my precious time just playing. After a period of time 25days they called and started asking bank statement again and again because of there lazying ness they wasted my time please look into the system seriously

Vishal. [protected]@kotak.com
Vinay. [protected]@kotak.com

Other banks (Hdfc, axis) with in a week they confirm loans am getting salary of 30k please feel free to contact

Thanks and regards
Abdul
[protected]

I am facing hell with kotak mahindra representative who completed account opening details on 7th august 2017 and today is 30th august 2017... Till now he has not activated my account and giving false reasons... He tells bank system itself is not proper and not taking activation details since 20 odd days... Please help i am not getting any genuine person in your bank

If there was a word in the english dictionary synonymous with 'worst', it would have to be kotak mahindra. My recent experiences in opening a current account has been nothing short of a nightmare. As i write this, it's been 25 days, no status update. Horrible staff. Been delaying forever and finally today i'm told take your money back we don't know whats happening. Are you for real? Do you think we customers are not meant to be taken seriously? I do not know how/who, i want someone to take strict action in this case and my time must be compensated in whichever capacity otherwise ill be forced to go legal.

Get someone in touch with me so i can share the details of this case.

I m from rajkot. I have opened account from sterling hospital in 0 maintainance.in june acc balance was 0 rupees. So i have received msg for charges due to not maintain balance. I had call to rajkot branch to know about charges. But he said me that u have opened account in 0 balance charges so further charges will not apply. So i have transfer money. But u have deducted 2 month charges. This is so fraud what u have done!

Hi kotak bank,

Loan number : ihl 55954

This loan had been taken with ing vysya bank and now with kotak mahindra bank after the bank merger.

This was a floating rate of interest and i want to know why was i being charged at a higher rate of interest for the last two and half years when the rbi norms for home loan was reducing for the last two and half years.

Little did i realize now the interest rate was not reduced for me for the last two and half years and it was evident in your bank as well that the home loans were at a lower rate than the charge for me.

Please clarify why was it not reduced for my loan for the last two and half years (2014 15 during bank merger), (2015 16), (2016 17) and current financial year (2017 18).

Does it mean the bank does not lower the floating rate as per rbi norms?

I had paid more interest at the floating rate charged by the bank.

Kindly clarify and let me know what action can be done for this and also let me know if i need to clarify legally on this with the bank.

—

The bank replies by saying they reduced the interest rate in august 2017 when the rate reduction was given in july 8th.
—

Kotak bank does not give a valid update on why the rate was not reduced for the last few years.

Be aware, the bank will not notify customers to reduce the floating interest rate. We need to go to branch head office in each city for this.

This is the trap set by kotak, in case you do not get time to reduce it, they will never reduce the floating rate as per rbi norms at all.

Check for a feasible bank and go ahead.

Regards,
A. Subramaniyan

One of friend of mine taken a personal loan from dis worst bank ever i seen. He hav some issues with ecs for him emi. I sign jus a reffrence sign in his form. Cos of his ecs issues his emi's were nt cleared every month. This so called vasuli dept jus harrassing me in such a bad manner with all types of 'gali galoch'. They gav worning to mi dat they will come to my home for dis so called vasuli...

My personal loan with ing vysya bearing number pl[protected] is converted to kotak mahindra bank loan number ispl38267 on the date of merger.
But my earlier loan pl[protected] is still showing as active and balance rs 278704 is showing as current balance.
Hence request you to please check and help to close loan pl[protected] and issue me noc.

Thanks and regards
S m julapi
[protected]

My home loan at kotak bank
Kotak home loan ajent and home loan rm
Giving me commitment that you are our valued customer so you have pay only 1200/- for processing fees after that i am giving him 3 blank cheque and all documents of my home and 1 another cheque of rs.1200/- of processing fees.
But after few days i am see that one of my 3 blank cheque is deposited of rs.33039/-
In kotak bank. When i am talk to mr. Tushar (Ajent).
And my home loan rm for that they said this amount is automatically return to your bank account with in one month.
But till today after 1 year it is not return in my account.
And now both rm and ajent not pick up my call. So please do needful for that.

I am a victim of credit card fraud on 9 august. My card was fraudently used on some airline website of argentina while the card was in my possession. The transaction amount was rs. 58000. I received a call from kotak fraud detection team confirming about this transaction and i confirmed them that it's a fraud and blocked my card. I also raised a sr#1-[protected] in next couple of minutes.

Moreover, i reached out to airline website customer care and got to know that someone used my card in argentina for booking some flight tickets and didn't boarded the flight. The ticket got cancelled and invalidated by them on my request. I have this information on email and i forwarded the same to kotak.

However, still there is no action from bank and they even didn't provided me the temporary credit till the transaction is fully investigated in 45 days. Why should i pay the amount first to them when i didn't used it it's totally a bank side fault since the transaction was carried out without second factor authentication. I didn't received any otp for this transaction but still it happened.

My name is samrendra singh (Crn :[protected] holding a nre account in kotak mahindra bank (Dalhousie). My account was debit blocked for re kyc and i have submitted my all required documents as instructed by my rm but still my account is blocked. I have tried to know the reason several times from my rm and customer care executives but they always note my complaint and without any further developments send me a mail regarding successful closure of my complaint. I had even given them warning to close my account in kotak and they replied 'ok'.
They have not even confirmed me yet why my account has been blocked. It's like i have no information or control over my account.
Please tell me what to do shall i file a complaint.

Hi,
I was a kotak customer. I had saving, demat and credit account but now i am going to close all of this. They have very pathatic customer care support and even if you want to talk any senior person they won't provide you any details about them so you won't able to contact with them. There website also there is no email address.
I was using there credit card around 3 years and last year i blocked/closed it and did all the payment. So there was no pending amount when i closed it.
Now after around 10 months, suddenly i got there message and mail regarding annual fee payment. I called and told them about my scenirio that i am not using your card since 10 months and also i blocked it previously. So they told me that they will process my request about annual fee reversal and even i got there mail regarding account reversal successfully but after dome time they again send me the the mail with interest and fine.
I don't know what to do with them. They are mentally torching me without any reason. Now they are telling me that you have blocked but not cancel so you have to pay. I had only one question that if my account was active then why i didn't get any monthly statement of my card. Secondly if i didn't receive new credit card info that you sent me for annual fee then how could i know about my account. Even i don't know the credit card number that bill you sent me.
Please don't make fool and tourcher to your customer.
Incident date: 29/07/2017 to till date.
Crn: 65816972