Kotak Mahindra Bank Complaints & Reviews

Kotak gave me a personal loan and their sales rep gave me false and misleading information about the foreclosure charges. They told me there is 1 year locking period and after that foreclosure charges will become 0% I have paid 15 emis and now want to foreclose the loan they are asking for 5% which is 37000 just to close the loan. This is unfair because they gave me false and misleading information at the time of selling the loan. They r...

Hi good afternoon, this complaint is subjected on requiring a bank statement. I have contact relationship manager of bank. (Santosh). As he was on leave he had given contact of jignasha (Bank relationship manager). But she directly not listen what i required and said to visit a bank for any queries. This is not good as a customer service and very bad reputation to a bank.

Kotak mahindra bank works at the least efficiency and effectiveness. Asked to send a cheque book to a particualr branch and they are sending it to registered address and then to home branch and still the request is pending.
Request was raised on 13th october and even after 14 days, no resolution, i have raised so many complaints after that, still the managers are least bothered to consider it on priority
My question to kotak bank : even if you send the cheque book may b after a month, who will compensate for the mental torture, revenue loss on my side, due to cheque book absence, etc?

Dear kotak bank, you cannot survive here like this giving false promises.

I have salary account in kotak and while opening they promised life time free debit card. But actually they are deducting annual maintinance charge, for more than two time i have raised a complaint but never responded. User 97594114 never concerned on customer hard earned money. Not getting how the debit card annual maintainace charge is debited for a corporate account which been told as free. Not responding to one complaint also.. Worst service.

M a kotak bank customer.

I ve applied for credit card almost 3 months ago then i ve got the call to get the crdit card but in mean while ive changed the address, so ive updated the address in august then reapplied for the card, then I got a application confirmation on 30 sep that I am going to recive the card in in 5 to 7 working days as i checked it online with the help of application no which has been approved, but till today I didnt receive it, and when I called to customer care, they told me i didnt apply for replacement card.
I dont understand if i didnt apply how did i got application no. And even on website it is approved as well, but they are saying it is old one, and if this application is old one then before getting approve how did u provide me the card in august because this application msg i received in september,
Now m completley tired with bank, westage of my time, coz it is now 4 th month that i didnt receive the card, and i got promised to get it in 15 days only.
Help me out i[censored] can without excuse,
Tnx.

Now today the other reprentative told me that i didnt update the address and my old card is disposed coz of not correct address, but card was alredy issued and disposed then how can i check my application status online about the cc which is suppose to deliver in 5 to 7 working days. Now m afraid with bank that my information is incorrect and in future might be i cn get trouble coz of cc which i didnt receive

I require passbook of my saving account. My home branch is Gurgaon (IFSC code KKBK0000261) but I visited your Bhera Enclave branch (IFSC Code KKBK0004594) to get passbook. It is for the first time. At Bhera Enclave branch I was refused for passbook reason being that I will get passbook only from the Home Branch.
At present my home branch is 100 km from my current location. So it is not feasible for me to travel 100 km just to get passbook.br...

I have a demat account in Kotak Mahindra Bank linked with Kotak Securities. I have bought 4 NCD's in the period Dec'2011 - Dec'2013 and around 2 months back I was wondering when and how can I encash those NCD. So I downloaded statement for same from my Kotak Securities account and here comes the biggest surprise - For the NCD with transaction number X9500/10 and date 12/12/2011 there was no exchange order number generated but the amount was deducted from my Kotak Bank account. Now I don't know where are Rs. 20000 lying for 5 years so I raised a SR with Kotak Securities and after deliberating for more than 2 weeks they said I need to check with demat bank account. So I raised SR (1-[protected]) with Kotak Mahindra Bank and it has been more than 2 months but I have not received any response on this from Kotak Bank even after repeated reminders/calls. Every time I call them they say they will get talk to branch and get back in 2 days but even after 2 months I still don't what happened to my hard-earned Rs. 20000. Very disappointed with Kotak Bank

Hi my name is rakesh sharma last week I received a mail from kotak mahindra bank that my credit card payment is outstanding but I don't owe credit card so how they can send me the bill till last month they didn't sent me the bill so now how come they send me the same I want answer. Last year I applied for the credit card but due to some reason my application got rejected. I have mailed regarding the same but I did not got any reply or call from them they are list bothered

Dear Sir,

This is to inform you that I have not yet received the refund of the cancelled ticket which was cancelled by me on 08th September 2016.

The details of which is mentioned as below:

PNR – [protected]
TRANSACTION ID – [protected]
CANCELLED DATE – 08/09/2016
CANCELLATION ID – [protected]
TRANSACTION AMOUNT – Rs. 3, 606.00
REFUND AMOUNT – Rs. 2, 720.00
REFUND STATUS – REFUNDED
REFUND DATE – 15/09/2016

The reservation was made from Yesvantpur Jn. (YPR) to Tirupati (TPTY) in train No. 12836, class - 2 AC.

Although while checking in the irctc website it is showing that the amount has been refunded on 15.09.2016, but till date no refund has taken place in my bank account. It’s more than 40 days have passed but I have not received the refund.

Request you to refund the amount in my bank account from where the amount was paid while booking the above ticket.

Hope for a swift action from your side.

Thanks & Regards,

Hi,
I've raised a request to update my address in bank on 7th oct-2016 through kotak mahindra koramangala branch at bangalore. It was supposed to be updated within maximum 4 working days and is not updated till today. When i called the customer care number to ask the status/to make a complaint about this, i've faced a un-professional behavior from the escalation person and she disconnected my call without even allowing me to complete my complaint.

I had a kotak mahindra bank credit card. An from last 2 months i was not able to make the payment due to financial crisis. I explained the situation to the recovery agent but still i am getting a threatning calls to make the payment. Yeaterday i recived a call from gaurav jha and as per him "if i haven't made the payment by tomorrow they will do something wrong with me" i called the credit card department but they have a repetitive answer. Still i am not getting any solution. I have already informed them that i got a job and i will make the payment by 3rd november but they are not ready for that. Customer care had given me a recovery manager contact number but since evening the number was switch off. This is not the first time. This is the third time i am getting these types of calls.

I had opened two Rd's of 3000 and 1000 rs. each. But due to urgency of money, I had given application yesterday in Gomti Nagar, Lucknow branch. When i gave application to authorizer, she said to go to the teller counter, submit the application so that teller will make the entry in finnacle and then i will authorize the same. But when i gone to the teller counter, the staff said it will take 2 days for redemption.Till now not getting credit to my account.. I don't think so for redemption of normal RD, it will be such time taking..I want to ask for TAT, but no such proper response came to me. At that time I was in urgent need of money. But they said it is not possible...we have to first cancel the standing instructions from back end and it will take two days and then only we transfer the redeem amount to your back account. Is this a truth????

Please take appropriate action against the same.

Dear Sir

I am having following Demat accounts with Ing Vysa Bank

IN[protected] Shailesh S Bhatt
IN[protected] Shantilal J Bhatt

After the merger with Kotak Bank of ING Vysa Bank, Bank details in my demat account is not changed.

Also local bank is not having proper guidance how to change bank details as well as requisition for new delivery instruction book.

At present receiving dividend & other corporate auction benefit in physical mode instead of ECS.

So kindly do the needful on urgent basis.

Shailesh S Bhatt
M[protected]

I have opened a zero balance account
(a/c number - [protected]) but now whenever i am asking to customer care executive then he is saying that its now saving account, so due to this they deducted my whole amount whichever i deposited in my account.
O how you could do it without any information to account holder. either reimburse my amount or i have to go consumer court.

I have been trying to close my personal loan from ING VYSA which is now Kotak. The foreclosure amount was paid on 7th October and have been chasing the bank for acknowledgement, till date haven't received. The communication that i had received from ING vysa and kotak after migration was correct. However now on their system they have a different address for me and so when i call their bank customer service they decline to help me stating none of the details match. I have been highlighting this to the Kotak bank but havent seen any body even willing to help me out. As a customer i would like to know who authorized the changes to pII and what action is the bank taking to resolve the issue.

this is the worst bank that i have dealt with.

Let me know if you need any other details on this.

This is benny stephan. I had received a credit card from kotak bank an year back and i had never used the credit card. I was planning to use the kotak credit card, however i was informed that the kotak credit card has been blocked. I was not given any information why the credit card has been blocked. Now i have put a request to cancel the kotak credit card as kotak bank has blocked the credit card without providing any explanation or acknowledgement.
This is the worst experience i had with kotak bank.

Hi,
This is prabhu and this is regarding complaint against kotak mahindra bank on my personal loan on credit card (Repayment on emi basis). I got a personal loan of rs.1, 50, 000 in kotak mahindra using credit card. The loan got credited on my acc on july month.in august month, kotak mahindra per-closed my personal loan without my approval (Preclosure includes 4% interest rate + processing fees). When i contacted customer care executives, they said that, "there is a mistake in kotak mahindra side and will take necessary action to correct it." i had waited nearly for two week to correct the mistake, but no action. So i escalated the issue to next level. Senior executive told me that they will correct all the problems, but they created new problems. The new problem is, again they approved one more personal loan with processing fees+ extended period. When i contacted them, they are not responsive and simply ignoring my request by telling 'the changes are made based on policy and can't be corrected. I have to repay whatever amount they put it on my account'. Moreover, they are not ready to give clear statement about personal loan detail (Like approved loan, interest rate, total amount paid and remaining amount, duration, total repay amount). I dont know what is the policy, is it cheating customer by preclosing & allocating new loan to loot customer money? Here are the other problems with kotak
1. They put overlimit charges by mistake and not ready to correct.

2. They gave wrong detail to cibil and not ready to correct.
3. It is been more than 2 moths and explained whole problem to many executive more than 10 hours, but no action.

My rough estimation shows that the bank charged around 32, 000 which is two times of actual interest rate (Around 40% interest rate.). Im really depressed due to bank action on my action. Please help me to resolve the whole problem. My kotak mahindra crn is 38079607.

Thanks,
Pràbhu
[protected]

Hello Team,

Before few months, me and my wife opened a joint account in KOTAK MAHINDRA bank, karve putala branch pune. we have submitted all the required documents and the cheque of Rs 10000. Few days ago we received the your account opened sms on our registered mobile number. but still we are waiting for Dabit card as well as Netbanking kit.

We are unable to call customer care as we dont have our complete account number. So please help us to get the required debit card and Netbanking kit (username and password).

Regards,
Sandip

It is the worst bank i have ever seen or heard. Pathetic customer service. Such irresponsible banking staff, you cant find in any bank. I opened junior account and also another savings account with kotak mahindra in 2015, nov.
Their erratic staff promised junior kit and coupons on the opening of the account. I also went ahead and bought an insurance plan wherein again, the final product was way different from what was offered.
On top of that, without any intimation or call, they keep deducting money from the saving account in the name of the amb maintenance.
I want to go ahead and don't want to keep any association with such bank where the customer care number is also paid and the customer is made to wait for hours with finally no response.
Disgusting bank!!!

I agree with all details n confirmed.28/09/2016

loan confirmation[protected]GOLLA DHANRAJ

disb.[protected]@kotak.com

Wed 28/09/2016 12:28

Hide recipients

To:

golladhanraj;

Cc:

k.[protected]@kotak.com;

Santoshkumar.[protected]@kotak.com;

SPLN.[protected]@kotak.com;

Pldisb.[protected]@kotak.com;

Action Items

Dear,

GOLLA DHANRAJ

This is with regard to your personal loan application with Kotak Mahindra Bank.

Request you to please confirm that you have applied for a loan and also confirm the following details.

Emp ID

Office add

GOLLA DHANRAJ

LOAN AMOUNT

306701

TENURE

48

ROI

12.60%

PF

1%

EMI

8167

KLI

1901

CAC

801

ONE ASSIST

3999

EMI DATE

15th OCT 2016

FC

5%+ST

Lock In

12 Months

Regards

Kotak Team