Kotak Mahindra Bank Complaints & Reviews

Took a loan from Kotak Bank on Jan 2016, Below are the 2 complaints
Raised the same complaint with Customer care for which no response received and closed the request without informing, Upon multiple follow ups as well they didn't provide any resolution (Previous Complaint number: Number: 1/[protected] and Current complaint number: 1-[protected])

A) Initially agreed to provide loan for 4 years tenor however they provided for 5 years without informing of the increased in the tenor and disperse the amount. Upon checking they confirmed they will correct it but till date they have not corrected it

B) Bank has deducted all the Processing fees and documentation fees however they have deducted extra 3999/- Rs for which they don't have any description and reason why they deducted.

For both issues complaint raised but no response from past 4 Months (Raised complaint on Feb 2016 and again new one today)

I am Deepak sharma, I have applied balance transfer (personnel Loan) from HDFC bank to Kotak Mahindra. My loan Application no is 00438723, loan amount Rs. 404371 for 24 months.
I got approval letter on 02nd may. In which I found that my rate of interest is 12.5 %. Earlier Bank person were discussing for 11.5% rate of interest.

On 04 May 2016 i have mail this to 'service.[protected]@kotak.com' to cancel my loan request and they reply that they that are looking into the said matter and shall revert back to you within 15 working days.
And now on 27.may.2016 they transfer the amount in my account with out any information. Now i dont need any loan.

Hi sir,

I am satish pandey and stay in koperkhairane. Today i received a call ([protected]) saying she is calling from kotak mahindra mumbai boriwali branch. She told me her name as naina kasyap with employee id - kmb000213. She told me that i am using kotak credit card. I said i had closed my credit card before 1 year ago. She said here in her system it is not showing close and she wanted to convert my rewards points into cash and then transfer to my account. After taking information form her identity i have given my information through ivr as per the bank policy but an amount of 10000 rs suddenly deducted and i felt cheat here and stopped her to do that. She was saying since this is system maintenance issue so amount will credit into your account with in the one hour but amount not credited yet. I contact customer care and told the story and they were saying it is forgery case so you need to give us the fir copy. We visited rabale police station and they suggested to visit the cbd belapur cyber cell. Please help us to return our money back.

Hi, I want to file a complain against the harresment done to me by Kotak Mahindra Bank.May bethere was a unsecured loan taken by my fatther ..which i am not aware niether i am in touch with him.Bank is calling me and abusing me using foul language. Harrasing me by calling other people in office and saying things and also threatning them, misbehaving with them.
I have given them my no. still they are harrasing me and threatning me to call other people and do this and that. I have not taken any loan from them and i am not liable for any unsecured loan they are saying. As per them they dont have any fear from police and keep on threatning me like this.They even use foul language about my family. I am so much harresed by this as they are calling people in office and i am unable to work and feeling mental stess.Please take action for the same.

Bank : Kotak Mahindra
Person called : Mr.Sanjay Kumar(told by him)

No.[protected]
Mobile no. he gave :[protected]

Regards
Abhishek Mehra

I really fell unhappy with your services, due to your many charges without any prior notice like tbms/pcd charges are applied in my account without prior information. At the time of opening account they informed me that it is a salary account hence zero balance acoount. The most surprising thing is that i was never informed about this. No email, no phone call no text message. Such a great customer service. After spending hours of discussion with customer care am still charged. This is clear unjustice with the customers. We the customers are depositing our hard earned money in banks to keep it safe and bank itself is eating away our money.

Hi,
I purchased the om kotak insurance policy (149611) money back policy.
After 10 years when the term completed they provided the money, however there was no bonus given.

As per the agent and policy i was entitled for bonus after 10 year, see attached policy document.
I did follow up with them for months and there was no response.
Kindly help me to get my bonus.
Regards,
Vinod rana
[protected]

Hi I Applied for Personal Loan Online on Kotak Mahindra Bank Site for RS 2, 10, 000 on dated May 10, 2016. I got the below reply immediately on 10-May-2016
Dear JATINDER Palvindersingh DHILLON

We are pleased to inform you that your loan has been 'in principle sanctioned'* basis the information provided. The detail of the loan sanctioned is as below:

Loan Details

Loan amount Rs. 2, 10, 000/- (Rs. Two Lakh Ten Thousand Only)
Loan Tenure 5.0 years
Your Application Tracking Number is : PL00443272

On 11-May-2016, Kotak mahindra executive came and taken sign on the form and collected my all the required documents. He assured me that your file will be submitted in system by same day or next day.

After that i waited till date 18-May-2016 but till that i havent got any response from Kotak bank.

Then on 18-May-2016 i raised a SR with Kotak bank, below is the detail.
Dear Customer,

This is to inform you that your service request has been registered:

Service Request Number: SR#1-[protected]

Customer Name: JATINDER DHILLON

Service Request Type: Loan Application Status.

Date of Request (MM/DD/YY): 05/18/16 4:49:16 PM

We thank you for reaching out to Kotak Mahindra Bank, in reference to your loan Account Number . The Service Request no. for your request is SR 1-[protected] for your Loan Application Status. We wish to confirm that our customer care team is looking into your request and shall get back to you within 5 working days, from today. For any clarifications, we would request you to kindly contact our customer care no.[protected]local call rates apply) from Monday-Friday (9:00am to 6:00pm) excluding holidays.

We value your relationship with us and assure you of our best services, at all times.

Best Regards,

I again waited till today dated 24-May-2016 to get any fruitful answer, but when i called up in Kotak bank Customer care department the executive was so pathetic she doesnt know how to speak. She speak very rudely that we dont know your status as loan account has not been created.

First of all i want to ask kotak bank if you want to waste our time and energy and money why you guys have collected my documents?
Second till date why loan account or any kind of account has not been created in your system?
Third if you say we are doing verfication first than why you havent done any verfication of mine or mine documents?
If you have done the verfication then why account has been not been created and where is my verfication report?
If you have verfication report than why guys have not shown curtesy to call and inform me the status?

Because of Kotak mahindra bank i lost the offer of getting loan from other bank.

Now tell me what i should do i required money to make the repayment of other loans. who will give me loan now due to your mistake,

ONE IMPORTANT POINT:- EDUCATE & GIVE TRAINING TO YOUR CUSTOMER CARE STAFF... THEY DONT KNOW HOW TO BEHAVE WITH CUSTOMER.

This is r s babu .My native place is andhrapradesh..I have account in your bank.But they has not responsible for ladies.They has to asking alwys amount amount...Etc.,
i have in your bank in gold locker.But they has not responsible well.I have account in various names and various accounts in your bank.Still they has to asking always your account is low balence always asking amount amount...
My amount turnover is 1c or near 60 or 70 lakhs
in some problems are there in bank, i am not tell in mail please call me i have to tell all
gm is balaji prasad
in that bank sm is jagadeesh
my ph no: [protected]

In my kotak bank saving account no [protected], rs 171.75 was debited on 5th april'16 for debit card annual fee charges. Pls reverse the same on priority. Unable to understand why this has been levied.Inspite of my reminders & follow up through phone, query still unresolved.

Pls credit the amount on priority

Regards
Gurpreet singh
[protected]

Kotak Mahindra Bank are very bad in service.
Kotak Bank Sent me mail to apply credit card, when i had applied they have collected documents from me base on I am credit card holder of HDFC. and after one week they have disapproved my application with below reason.

We were unable to verify the residence address as provided by you in the application. We request you to kindly call our Customer Contact Centre to provide any landmark or additional information regarding the address.

I had given Aadhar card copy for address proof with Land mark...
Application Reference No:[protected]

I had very bad experience with kotak mahindra bank. I for offer for balance transfer loan from kotak mahindra bank. I submitted all my documents in 1st week of april. Every week they use to ask further documents from me. And submitted all. Finally on 2nd may they came for taking signature on loan documents & took 10 signed cheque. I was told within one week, loan will disbursed to me. I received sanction letter copy through wats up, dated 5th may. Executive called & told me within 3 to 4 days i will get amount. But till 1 week no response, and they keep saying that our process changed so 1-2 days u will get amount. Again on 13th may they called & said submit one more document & your dd is ready we will submit to bank once u give document. I have sent my personal loan tracker document. I waited 2 days but no response. Till 18th may they are saying reasons. I called them on 19th may and asked to return my documents & chequea. But they are sayin plz visit our branch & we cant return. But now i dont need loan from kotak. I am afraid what to do if they dont return my signed chques?

Had a very bad experience with kotak bank, i had applied for personal loan for 150, 000 lac on may 2 2016, and got a call from kotak bank i will be notified if the loan is approved or rejected on the same day, i got a mail on the same saying my loan is approved and principle sanctioned. After 1 week i got a call for document collection and after 1 more week verification completed at the resident place.
After 3 weeks after repeated calls they say my loan is rejected due to bad cibil score, i had already informed to them about the same.
Below is the email i got from them.
Welcome to the kotak mahindra bank
Monday, may 2, 2016
Dear sunil kumar
We are pleased to inform you that your loan has been 'in principle sanctioned'* basis the information provided.
Your application tracking number is : pl00440271

People at kotak should understand that we apply loan for emergency and should not waste our time.

Regards,
Sunil
[protected]

I tried to withdraw inr 10, 000 from kotak mahendra bank of swarget pune branch i only got 6, 500 from the machine and didn't receive 3, 500 on 24th february 2016. I don't have account with kotak bank but through axis bank i complaint against this many times but kotak bank is rejecting my complaint stating that transaction was successfully but not providing cctv footage and day of the withdrawal kotak officer said there is a problem with machine. Might be cash must have got stuck in machine only i want my money, case it is pending since february 16

I have not received my credit card yet. I applied for it on 30th December 2015 as I joined the Wipro Limited so it was mandatory for us to open an account in Kotak. Your employees issue me debit card and told us that credit card will be given after 15days of 1st salary credited to your account and till now they did not issue me a credit card. I called them several times, all they say is mail us though I mailed them many times but result was...

I regret for banking with kotak mahindra bank.

Why i choose kotak?
They provided an attractive interest rate for personal loan.

What are the issues?
1. They didn't give any response after applying to the loan. Meanwhile i applied in another bank and got my loan disbursed.
2. I called the customer care and asked them not to proceed further (After 25 days from the date of application), since i took loan from another bank, i also cancelled the cheques during application process. However they didn't consider my request and disbursed the loan after 45 days from the date of application, 24 days after my cancellation request.
3. I have to resubmit the cheques since the old ones were cancelled from my side, even after providing the newer ones, they keep on using cancelled cheques and charge me for late payment.
Note: i had to visit the kotak bank (Only the loan account manager available branch) in personal to change the newer cheques. Most of the kotak branches doesn't have section for personal loan.
4. After the first few cheques they are using ecs, they got my submitted application during the loan application. However when i ask my bank (Citi) people, they told kotak didn't submit the application form hence they can't release even if they query.
5. I personally went to kotak and collected the ecs mandate forms (3 copies) and get it approved from citi and submitted one for citi, one for kotak and one with me for ecs.
6. After all these process also, the kotak didn't use my ecs and keep on sending payment alert message, however no action taken against my replies stating their ecs is not working.
7. None of the emi was successful though i had sufficient balance in my bank account, now cibil score is at the worst condition!!! I regret for banking with kotak, i am waiting 12 months lock in period to close the entire loan account.

Beware people, if you take personal loan from kotak bank, then you can't loan from any other bank for at least 3-5 years, since they will take care of collapsing of your cibil score very well.

A new saving bank a/c (Edge saving account) no. [protected] was recently opened with your bank in the name of premkumari gaurishankar sarda and accordingly i got the welcome kit alongwith a cheque book and one grand health card but regret to say that the name premkumari has been wrongly spelt as premkumar and the same has been brought to the notice of the bank official but regret that i did not get my altered cheque book and also the pin/password no..In absence of the pin/password no. I can't operate my account and as such request you to make necessary correction in my name and send me the pin/password immediately. Hope that you will take immediate action and oblige.
Thanking you.
Yours faithfully,
Premkumari gaurishankar sarda

Hello kotak,

Greetings of the day to u not me. I was really upset that i came to know about today early morning that ur bank is really dont want to make customer happy you guys give me the nitification few days back saying in the email that kotak mahindra customrr can withdrow the amount @6:01 am i tried alot to get my money out and same till now i am not able to do that.

Intresting thing that the kind of the staf[censored] guys hired were very unhelp full they dont know how to speak with the customers i started my call with bhaves who was very polite in starting after it when i said to him transfer the call to somebody who can help me in this he did (if he transfered that call it means it can be resolved) than one gentle man Mr. Mohd Sahid took me up over the phone, i asked to him the same thing that i was stuck to a place i need money right away after asking him so much time his answer was te same that this is a it issue here we cannot help you out after asking him that transfer this call to your supervisor he said that he cannot tramsfer this call to his any supervisor, do kotak have only one staff over the entire globe ?? I didnt get that i said to him do a mail to a kotak manager who can help me out he said he cannot do that coz u guyss dont have the emails available with them is it true ?? I am using kotak from last 2.5 years and it was pleasure do the businees with u but thid time it was really annoying and specially with Mr. Mohammad shaid who was very rude to me he was giving me threat if i will be carrying on like this over the call he will be going to disconnect my call, even i nvr abuse on the call than why he can disconnect me coz he was totally unable to satisfy the customrr ?? There are alot of things which he told me to borrow money from somebody i am not a beggar who go to anybody door step and ask the moneyfrom them, do i ??

He was a gentle who dont know how to speak with a customer and he cannot make a prrson staisfy on his question than why he is therr . Who he is to advice me to borrow the money from any other person. I was in trouble he make me stupid on tha call after asking him so many time are u listeing he nit even answring me. I[censored] guyss will not take the action for that person i will go to consumer court and let them know about this, i want my money of 8000 today from your bank as an claim and with intrest of time and the person who want to how me the attitude over the call that he do have right if person is in problem he can cut the call.

Kotak one quetion from u did u rcvd any email from sahid saying about this call as per him he font have any emails access and other belongings of the msgs, i am sure that u must have but he didnt give me.

I made the second call to bhavesh saying that give me the refrence no of the my request about this IT issue but still now i dint get that.

Ur staff specially "Mr. Mohd Sahid" was very annoying an threating customer over the call.

I need that call recordings, want to knoe what wrong i asked from Sahid, that person was really very annoying cant even imagine a floor manager is spealing with me in that rude tone.

Sort out my issue asap and give me the claim of my money lost today of 8000rs.

I will be waiting for the e-mail from with in ur tat which u dont do.

Mr. Sahid u were very annoying and disappont me, u dint even forget u are represting a bank over the call, should go and take the session how to speak with ur loyal customer.

P.s. - kotak this issue could be resolve when i called u but Sahid take thid so unmannered.


Regards,
Amit bhardwaj


Sent from my iPhone

I have one current account having CRN[protected].After that i open 20 corporate salary saving account. It was asked to me that u can transfer salary to ur employees using either bank manual process by sending excel or by using net Banking and putting word Salary in description. I did by 2nd way. I did it 6 months and nothing happen.After 6 months they deducted 1500 from every account. 15 account they deducted 1500 each.

Now i asked them to refund it but no one is listening. I made 100 calls and no one is listening. What ever has been promised but no one is listening.

I mailed Rohit Kapoor also but he is not doing anything.

Dear Sir,

My loan Number is ISPL60318

I am writing to all of you as I could not get any amicable solution in spite of the following initiatives taken by me -

I am facing one or the other issue from the very first day I availed the loan from Ingvysya. From the first EMI there was issue with ECS & I had been advised to make NEFT transfer for which I have evidence as well. I have done lots of email exchange with Ingvysya executives which can be produced on legitimate demand. It is very sad that although I am making payment well in advance of the due date, I am being charged huge amount on the account of ECS bounce charges.

I am having loans from other reputed financial organizations which are running absolutely fine without any issue. My biggest blunder was to take a loan from Ingvysya, now Kotak.They have charged be more than Rs 8000/- for ECS bounce.It is very sad that although I am making payment well in advance of the due date I am unable to bear this royal pain any more & wish to proceed with one time settlement.
1. I spoke to Kotak Help Desk & requested to help me with waiving off any additional charges in order to keep a healthy long lasting relationship. They suggested me to visit nearest Kotak Loan branch. Upon informing them that at present I am in Kolkata, I was advised to visit Park Street Office situated in Kolkata..
2. I visited Kotak Loan branch in Park Street & was informed that they would not be able to help & I should write to service.[protected]@kotak.com.
3. I wrote several emails to this email ID(;; ;; ; ;

I had earlier taken personal loan from ing vasya bank, chandigarh vide loan agreement no. Pl [protected] agreement id 269761 total amount disbursed rs.2, 87, 000/- @ 15 % interest payable in 60 monthly installments. The monthly installment of rs.6828/- is being paid by me since inception of the loan through my salary account with canara bank, sector 8 c chandigarh.

Now the bank has wrongly reported personal loan account in cibil by kotak mahindra bank limited, sector 9 chandigarh - loan account no. Ispl - 118270 loan agreement dated 23. August 2014 - crn no.[protected] loan amount financed rs.2, 41, 565/- - branch office, sco no.153-155 sector 9 c chandigarh product salaried personal loan

21 installments @ rs.6828/- has already been paid by me till date. And now only 39 installments are pending for payment from me @ rs.6828/- per installment.

Now i have come to know that the ing vasya bank has been merged with kotak mahindra bank limited and the repayment of my loan is being paid to kotak mahindra bank ltd @ rs.6828/- per month.

I have gone through the statement of repayment pattern of personal loan. It has been found that now kotak mahindra bank ltd shown repayment pattern of personal loan w. E. F. Monthly in 05. Nov 15 to august 19 @ 6828/- and for sept 19 @ 6803/-. Now it has been found that 6 installments of loan has been increased by the bank and increased my loan amount by rs. 36943/-. Therefore, it has been found that kotak mahindra bank ltd wrongly calculated the installments. Earlier the loan was repayable in 60 installments and now the loan has been adjusted in 66 monthly installments.


Further i would also like to inform that i have applied housing loan from hdfc and on checking my cibil account it has been found that this loan has been reported twice on the cibil site i. E. Once by ing vasya bank and secondly by kotak bank limited.

You are, therefore, requested to take up the matter with kotak mahindra bank limited to correct my cibil account to enable me to obtain housing loan from hdfc ltd.

I had earlier taken personal loan from ing vasya bank, chandigarh vide loan agreement no. Pl [protected] agreement id 269761 total amount disbursed rs.2, 87, 000/- @ 15 % interest payable in 60 monthly installments. The monthly installment of rs.6828/- is being paid by me since inception of the loan through my salary account with canara bank, sector 8 c chandigarh.

21 installments @ rs.6828/- has already been paid by me till date. And now only 39 installments are pending for payment from me @ rs.6828/-.Ing vasya bank was merged with kotak mahindra bank limited in the year 2014.

Now i have received a statement from kotak mahindra bank limited showing the details of balance 47 installments towards repayment of personal loan. My loan is being paid to kotak mahindra bank limited @ 6828/- per month. The total loan was sanctioned for 60 months and now kotak mahindra bank limited has increased the repayment of personal loan from 60 to 66 installments as per statement of loan received by me on 11.5.2016.

I have gone through the statement of repayment pattern of personal loan. It has been found that kotak mahindra bank have shown repayment pattern of personal loan w. E. F. Monthly in 05. Nov 15 to august 2019 @ 6828/- and for sept 2019 @ 6803/-. Kotak mahindra have increased my 6 installments and increased my loan amount by rs. 36943/ -. Therefore, it has been found that bank has wrongly calculated the installments. Earlier the loan was repayable in 60 installments and now the loan has to be repaid in 66 monthly installments.

Now the kotak bank is to reverse this excess amount of rs.36, 943/- towards last 6 increased monthly installments and correct the data in my cibil account.