Kotak Mahindra Bank Complaints & Reviews

I applied for the personal loan and more than 100 times I was told that the interest would be 11.50% if I do BT and apply for 15 Lakhs. I agreed and applied for it.

I got the DDs for BT and was told that the rest of the amount will be credited as soon as I close it. After I closed other bank's outstandings (Axis, HDFC) through the DD provided by Kotak mahindra bank, I got welcome kit that says 13% of interest for 15 Lakhs.

I already emailed to Service.[protected]@kotak.com and contacted all the people who suggested for this offer but there were NO response from anybody.

Please do not be surprised by this offer if you receive call from any of the below people:

Priya - [protected]
Satheesh - [protected]
Swapen - [protected]
Ravi - [protected]

I would have EASILY got the same amount for 12-12.5% from the bank who credits my salary.

SO, PLEASE PLEASE DON'T GO FOR IT. I'm 100 % SURE THAT YOU'LL NEVER GET LOAN BY THIS RATE 11.50% ..

Dear Sir, I am very disappointed to write this mail to you as this is against your one of the employee Mr. Nitin Trehan in sector 18 Noida branch. The behavior of your employee was very rude and careless. I don't find him suitable for facing and handling any kind of customer interaction. I am describing my experience with him as below. Please cross verify the incident with the CCTV camera that was placed there on the time I mentioned. The incident happened on 02-Dec-2015 around at 4:20 PM in Sector 18, Noida. I think that my entry timing might be the factor which increase the frustration level of the employee. But as there was 10 minutes left in the bank closing so I thought to complete my long pending banking work at that moment. I visited the branch at aforesaid time and met Mr. Trehan. I requested him to change my account type from corporate ace salary account to normal saving account. He asked me first whether I have the address proof of Noida or Not. I told him that I have DL of my permanent home. He responded as you don't have the local address you need to visit the account opening branch which is in Gurgaon. I asked him whether he can give me in written that it's a mandatory to have local address of Noida if I am visiting Noida Branch. Mr. Trehan was clueless and confused at that time. He confirmed this with his colleague and then was ready to take my documents. He then asked me to give one Id and one address proof. I gave him my driving licence and my pan card. Now his confusion starts again and he asked to give some other address proof as bank does not consider the DL as address proof. I said him that I don't have other address proof right now and if this is mandatory can you give me in written that DL will not be considered as address proof. Mr. Trehan was confused again and his behavior was quite annoying. He again reconfirm this with other colleagues and they suggested to accept DL. Now when he tried to take xerox of the documents, these were somewhat faded. He again refused to take my docs and denied my request. One last time I asked him to give me in written that you can not take xerox of government provided DL. This time he was quite stubborn and started to give me the reason in written. I was making the video of all his behaviour during this interaction. As soon as he noticed that I am making the video from my Mobile his behaviour easily changed. At this moment another employee Mr Vishal intervened and take the xerox of my documents easily. Mr. Vishal was looking very skilled and experienced in handling this kind of situation. He easily sorted out my request. Dear Team, I dont have any personal grudge with Mr. Trehan but I wrote the whole incident because I don't want to interact Kotak customer reps like Mr. Nitin Trehan who just not spoiled my time in resolving the request but also forced me to rethink about changing my banking activities with Kotak. I am sure if such kind of representatives I will have to deal with in future, I will prefer to shift my all personal banking activities to ICICI bank with which I have never ever had trouble. I hope Mr. Trehan will learn a lesson with this incident. Hope a positive and assurance reply from you soon. Attaching the pic of Mr. Nitin Trehan with which I had this incident. Hoping he did not give the false name or If i might not listen properly or some innocent employee could not be misunderstood. Thanks & Regards Prashant Ahuja Mb# [protected]

There was a vishing call from Noida and person claimed as Kotak Bank employee and was very fluent and well in command over languague like a customer executive speak and asked about credite card rewards point and issueance of new card, which i never asked for and certainly asked to share the certain TIN appearing on mobile and which they could gatter through online account they had and made transaction of Rs 5000/- towards Vodafone bill desk Merchant and while we appraoch to police station we got the information that its internal bank employee who licks out information for good money to these goons and make sure that their name are not shares elsewhere. trying to get in touch with CBI, but very hard for common person case to be tracked on urgent basis.

Kotak Risk team is foolish and fraud who are creating such issue and should be jailed

Your pathetic bank has disbursed loan to my account without prior intimation and done my Forge signature on sanction letter... I have given a written application to provide me the date when the sanction letter has been disbursed & i have acknowledged it but still there is no update from 05th Nov 2015. Your bank has charged high interest rate and giving me mental trauma from 25 Days. If in future there will be any issues with regards to my health OR life your bank & Pinkesh panchal (personal loan dept.) will be responsible for it. I have replied to your bank to stop the loan process but still they have disbursed the loan... Please inform your bank what is the punishment for forge signature. http://www.indianlawcases.com/act-Indian.Penal.Code,[protected]

I've been using Kotak Mahindra bank credit card for a while and I've been one among the numerous dissatisfied customers. To be precise, I hate their customer service and their way of handling the service requests. For instance, A customer can only register a request or complaint through their banking account. What if a customer don't have a account or doesn't know the credentials.?? After multiple requests they accepted to place a request for me. But till now no single person called me to convey the status and not even a single mail with the status of the request. Also, I'm being charged for the late payment fee when there was a open request from my end concerning the actual amount due. Please remember, they don't look like customer centric, I've got my lesson. And I'd never ever go for it. People please be aware.

My account with bank A/c no.[protected], I take two mutual fund with two different banks.

On 25 July 2015, Rs.342/- has been deducted what is this, if this has been deducted whats the reason behind this.

No one take the appropriate decision regarding this, I meet personally meet with Executive Mr.Vaibhav Tripathy, he is not take positive reply .I went several times to bank for this small transaction.
I write a handwritten letter and submit to bank manager on 15 oct after that he is also not taken any decision.

So kindly to improve your services for Giving frequent reply to Customers, this amount is less but your opportunity is high to take relevant decision from July onward.
I always mail to your mail id (service.bank) no one give me reply after several weeks.
After this all close all investment from this banks .

Sometimes I feel, Indians are just cheaters because of these people. I applied for a card of Barclay in[protected] – I don’t even remember the date. I never used it except once by mistake and did a transaction of Rs 220. I submitted the amount and asked to close the account. I asked them to close my Barclay card during that time but they said, this card is free for you and you don’t need to close it. I said OK. After 2 years, I applied for Car Loan and suddenly in my CIBIL report I see that Rs 220 again. I mailed to both CIBIL department and barclay to remove this entry as it is already paid, Check Ref Id – EZ[protected]be. I got a revert from Barclay that this could be CIBIL department issue to correct it. Whatever, I got my loan. As I was sure that Barclay has no dues – I didn’t follow up the issue with them after my first mail. After atleast 6-7 year in 2015, Kotak people (Kritika) called and was asking to deposit lump sum of Rs 50000. Hell ! I forwarded the mail to to naveen.[protected]@kotak.com with the CIBIL report and it said that maximum amount of credit was still Rs 220. They closed the issued. But again after a month, some guys Vikram called me from Kotak and started threatening me and when I gave him all the explanation he asked me to forward mail to “divya.[protected]@kotak.com”.. What is happening? It is just harassment. I can’t take it anymore. Suggest me what should I do to get rid of these people. I have already paid all the dues (Rs 220) and everything. I have very good contacts in politicians and lawyers, shall I sue Kotak and the recovery agent for harassing me?

Hi, I have a loan car account with Kotak bank, due to my personal commitments I couldn't pay EMI on time and I had couple of months backlog (Max 3 months). However, I managed to pay whenever I could accommodate. I and my dad received the call from kotak representative (Name Mani - Mobile [protected]) who as following up with us for EMI. His behaviour was very rude and used abusive language to extreme. Even, I have responded him saying to be professional but he doesn't care of my words and done the same. I am not who has given rights to these people to behave in such unethical behaviour. I want a confirmation from bank on this issue and action against the person. if not, I will have to be file a complaint against the bank in consumer court. Thanks ! Regards, Sathya

I am Aakanksha Gulati from Delhi.On 17/11/2015 I withdrew money from Bank of Baroda ATM Subhash Nagar but due to some issue transaction got failed and when I checked my account amount was dedcuted from it. I submitted a complaint(SR#1-[protected]) on the same day and they told me to resolve my problem within few days but I haven't got any response from their side yet Now ., I want to know what should I do in order to get my money back because bank has not resolved my issue yet.

Dear Sir/Madam, I am one of your existing personal loan customer My loan number is PL[protected] and the loan amount is 2.5 lakhs. Initially monthly installment amount of RS 7377 was not clearing through ECS linked to my ICICI account because they have not updated the ECS form. Every month the executive used to call me and collect the installment amount manually and he is not adding any other extra charges its because of mistake from their end and i requested them to update my ECS form because i don't want to pay the money manually. During the migration period from ING Vysya to Kotak they came up with new ECS form and updated.now the monthly installment is going through ECS in Kotak smoothly. Problem which i am facing today is: Very recently i have applied for a balance transfer in other bank and the loan application got rejected and i asked them why they said your CIBIL score is less and is because of some EMI's were not cleared on time in ING VYSYA. I request you to please correct from your side and update my CIBIL score.i was maintaining good score and because of you people mistake my loan got rejected. please take this as serious concern and try to resolve at the earliest. Regards Manjunath BH +91 [protected] +91 [protected]

I have taken home loan from Kotak Mahindra in May 2010. Kotak Mahindra Bank is having worst services in housing finance.
I have requested for online access, I have not been provided home loan online access after calling to customer care and visited twice to the branch.
I have asked for the List of Documents I have submitted to bank at the time of loan taken, still not received the list of documents after even more than 20 days. I have talked to customer care 7 times but did not get any help. Even I have sent number of emails to them but did not get any response. I am definitely going to change the Bank As Soon As Possible.

Please never choose Kotak Mahindra Bank in home finance.

Dear Sir, I had a salary account with Kotak bank till May of 2015. I had to move abroad later on work. now I am residing in UAE. I have clearly asked the bank through email to either convert the account to NRI account if not possible close the account. the kotak Mahindra bank charges for not maintaining minimum balance in account. for reasons of kotak Mahindra policies on collecting address proof of my residence at UAE the bank couldn't convert the account to NRI account. so then I again emailed them to close the account 3 months back. where I did not receive any response. later my account balance keep going negative. when asked they are saying they are charges for not maintaining minimum balance. I did not want to continue the account I have asked to close the account. bank is not ready to waive off the charges. i do not want to pay the bank for any charges as i had requested them to close the account earlier in August. according to that i am not liable to pay any charges after august 2015.

Few days back, one of the Kotak Mahindra bank called me and asked about the current bank I'm using. I told him about my current bank and the facilities I'm availing. He told me that Kotak is offering the more facilities and forced me to take it. I also asked him whether if I have to maintain the account with some amount, he updated me that there is no mandatory to maintain the account with amount and could even maintain with zero amount and zero closure charges when not needed. Toda when I'm trying to close the account, I'm told that I will be charged with Rs.600+ service charges and extra charges will be levied if I'm not maintaining a minimum of Rs.50, 000 which seems to be small sum to them. By their statement, I came to know that people in India are earning more than Rs. 50, 000. Kindly help me on the above.

Hi Team,

I have taken Personal Loan SPLN[protected] currently my emi due is paid by RBS Bank account i have joined in new company and current salary account is SBI so i need to change my month EMI due to SBI .

Please share ECS form.

Note :

Hurtles i faced in ECS Change

1, I have already contacted customer care no they said need to go in personal to any Kotak branch and get ECS form no option of logging ECS Change in online


2, I visited my nearest branch at Velacherry they collect my mobile no & mail id and informed they said ECS form will be sent via email after working with Egmore branch. No response i called velacherry branch they said i need to contact Egmore only

3, My Internet logging shows me the Account Manager Palanisamy i called him
he said he is not part this personal loan divison and mailed to your team


I got multiple good response for taking Loan and not for Service after taking Loan.


why i need come egmore office personal for ECS Changing is it not possible if i sent documents in courier to egmore office ?

I had applied for personal loan from Kotak Bank Via Finance Buddha, Bangalore

I was promised loan of 15 lacs for Interest rate of 11.5%/annum for 4 Years for EMI of 39100
processing fee of Rs 500/-

But when I verified my bank account for the details I was shocked to see that the loan has been disbursed without
informing about the interest rate and processing fee of whopping 21k +

This is clear indication of how the bank takes the people for a ride beware of this Bank in future.

This is the second incident encountered by me.

BEWARE everyone who is applying for loan from KOTAK BANK.

Hi my CRN with Kotak Mahindra Bank is 33884248 and i am holding this account with them for last almost 5 yrs.. ive got a personal loan running with them too.. last month in October 2015{personal loan account number : 27165166}my emi which was suppose to be paid on every 10 th of each month...due to some personal reason i dint had enough balance on that particular day which was 2 nd Saturday so the banks were closed because of which i was not able to deposit funds in my account...in result i paid that amount in cash on oct 19 2015 receipt number{MB[protected]} and when i deposited certain amount in my account it got on hold and when i got to know i was been told that its been done by the personal loan team they call it a lien amount ...first thing it was not informed prior that they would be holding the amount ...however i take that as my fault and asked the personal loan team to remove the lean ...and it was removed on the 3rd day which was oct 26 2015...now i deposited some amount on oct 29 ...and again on oct 31 2015 the same amount was been deducted without any reason and again i was so unlucky that Oct 31 2015 was again a Saturday...and the main concern comes here that the personal loan team dont work on Saturday and Sunday but their automated system works 24*7 because of which the amount was deducted...and when i tried to call on coming Monday which was Nov 2 2015, the personal loan team said that the request has been taken on priority basis and will be releasing the funds asap...now when i called today which is Nov 3 2015...i got a good new that it takes normally 7-10 days to complete the request...which was shocking to me ..because when they want to deduct any amount their automated system works like Ferrari{car} and in terms of refunding it starts working like Bull Cart...iam planning to close my account with them now ...as they provide a class customer service which i can not afford now...

When i was opening a salary account, i was told that there will be zero maintenance charge after 6 months of salary being credited. Am using more than 2.5 years. But there was maintenance charges debited for past 4 months. And when i tried to transfer a money outside of country, the transaction got rejected from KOTAK side. If i call customer care, i was told they cant help with it as no issues noticed in my account. Finally when i requested details to close my account through online, i was told that there is no chances to close the account through online. Account number:[protected] Tnagar branch: KKBK0000468

Hi, I have done a IMPS from my kotak account [protected] towards [protected] (Punjab National Bank Account) of Rs/- 4000 on dated 30-Oct-2015 12:00 PM. But IMPS could not be processed due to Beneficiary Credit Status Unknown. I am still waiting from my money back but nothing happened... Request you to please refund my money if transaction is not successful. Reference No:[protected] Thanks. Devang [protected]

Can someone please tell me where the real consumer courts are located, and what I need to do in order to register a complaint? I don't want to be sitting here and venting my frustration on the keyboard, I'd rather take things to task. Kindly the provide information if you have Regards, Rohit

Hi,

I am a Salaried Account Holder(Ace) in Kotak Bank. In July month i left the organisation. In the month of October Kotak bank Deducted Rs. 684 twice for non maintenance of minimum balance from my Kotak Account. When contacted they are just asking me to go from this branch to another and in last to my Home Branch. And further said that i need to maintain a minimum amount of Rs 50, 000/-. This is too much to take, they dint even inform me, normally the minimum amount is 10, 000 which i used to maintain, but they say as its ur Ace Salary account minimum amount should be 50, 000;. When asked in my nearest branch, they said to contact home branch. WTF.