Kotak Mahindra Bank Complaints & Reviews

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.

TBMS charges are applied in my account without prior information, even after changing account type and talking to branch manager, I was still charged. The branch manager assured me in July when I changed my account type, that I will not be charged any further and In oct again I was charged 969 and 969 Rs twice for month of july and august. Such a big fraud from Kotak mahindra bank. Kotak is deducting Rs969 from my bank account every...

Less amount dispended by ATM machine & remaining amount is not refunded by bank. Cash withdrawn through Kotak bank atm Vadgaon sheri offsite ATM sunitanagar. 10000 amount entered, 5500 given by machine & 10000 debited from account on 10/10/2015, complaint registered on kotak helpline. 4500 outstanding, but only 3000 returned by bank till 20/10/2015.

Hi I want to know does this consumer complaints works for some one do we get some reply with resolution. also i want to know the grievance cell of RBI with email id :[protected]@rbi.org.in works for some one. I have raised a complaint on above mention email address against kotak bank no reply no response . If yes let me know on rajesh.[protected]@gmail.com

Dear Team EMP NO-OM40955 PF NO-MH/45187/40925 Please Find Below Details regarding My PF. Kindly Provide Status ASAP. NAME EMP ID CURIER NAME DATE POD NO DELIVERY DATE NIKULSINH CHAUHAN OM40955 TIRUPATI CURIER [protected] [protected] [protected] Regards, Nikulsinh Chuahan [protected]

Kotak bank is the worst bank. no customer complain is solved here and they charged un necessary charges to customer. when we complain to manager about the charges, manager agrees to reverse the same and after some time manager is being transfer to some another branch and problem remain un solved. the new manager deny to resolve the problem and do not give attantion to old customer. dadar east kotak bank is the worst bank in all. very bad experience from that bank. that bank had charges me about 6000.00 charges to me.

I got a car loan for my skoda yeti TN59 BC 0005 at kotak mahindra prime for Rs.12 lakhs on 2012 and i made the foreclosure on 2013 along with 5.62% charges for the outstanding Rs.9 lakhs. Later kotak called me and offered me a personal loan for Rs.5 Lakhs for my prompt previous track records. Now 14.10.15 when i approached kotak to foreclose my personal loan against my car record. Kotak demands me Rs.20, 000 as foreclosure charges for the outstanding amount Rs.3, 21, 000. When i insisted them regarding the RBi master circular regarding foreclosure charges waiver. Kotak states if so they cant get the payment i make and cannot issue me the NOC certificate to cancel my vehicle finance registration. What can i do next, please do guide me. Thank you.

Hi!! I am having Two credit cards from Kotak however since past 6 months due to bad financials I am unable to pay even the minimum dues for my cards. When I seek their help for converting amount into easy Emi's they give me options which comes around 10 K per month which is again impossible for me to pay. My Salary is 36000 where I have following liabilities 1. a personal loan and the amount for the same 18500 2. I pay a rent of 6500 3. My son's school fee is 5500 4. Electricity Bills which comes around 2500 a month 5. I have two kids and hence the basic necessity like milk for them costs around 2000 every month 6. Every months grocery and vegetables easily comes around 3 K atleast I am willing to pay bank the amount however I need a solution which can work out for me myself and bank but the options given are not worthy for me and on top of that representatives react as if I am playing in Lakhs and crores and I dont want to pay the amount on top of that they harass my Grandmom where I used to leave earlier as that's the address I mentioned when I got the card. Even after repeated request not to visit and harass her collection people go there and mentally harass she is already 75+ and she cant bear all such incidents. Moreover when I am the one who is owning the card why they need to harass her or do any sort of conversation with her. I am just 30 and I know that bank is the only one who can fulfill the financial needs in each and every form and I would have to seek help for my kids future and whether a big business or a poor person they need to take helps from Banks Please help as I cant bear all this mental trauma and cant see my wife or grandma going through all these tension

I am a nri and one year back when i was in india enquired about opening an account. The representative hurriedly opened the account and gave me no details on how to operate it or any other detail what so ever. Since then i never operated the account but keep getting email from the bank to notify it is still active and chargin non maintainence fee. Asked them 100 times to close it.sent filled forms. Still not closing. I am so annoyed and mentally harassed.

Dear Sir/Madam We have received a email reminder in july 2013 from Kotkat Mahindra bank ltd, asking us to settle the outstanding dues against which I have made detail reply explaining with supportings for payment made on Dt.[protected], The banker said verbally that he will get back to us and there is no return communication for the same nor they contacted us, But After a span of 2 1/2 years, we have received email reminder once again on 6th Oct -2015 asking us settle the outstanding or face 138 proceedings, As we don't have any alternative options but only to share all trail mail and payment supportings once to again to them for there record. We are following with them, But there response is poor even after that, nor the attend our calls or reply to our mail . All trail mails with supporting is attached Reshma Das Reshma Shammi Attachments12:08 PM (21 hours ago) to girish.hegde, Roopa.r.s Dear Roopa & Girish We would like bring to your kind notice that we have received email on dt .29th July 2013 asking us to make payment for the balance outstanding immediately, And we have replied immediately on dt.31 July 2013 with all supportings documents for payment made on[protected] and the same is once again attached for your record, But however your response to our email reply was verbal saying that you will get back to us immediately . There was no response from you side there after. We have received a mail for on 06th Oct -2015 ( after 2yrs 4months ) stating that there is outstanding payment against your a/c, Kindly make payment immediately or proceedings will be initiated against you, We would like to once again inform you that we have already cleared our dues and for which supportings are enclosed, So request you to send closure letter immediately for the settlement done on[protected] . Thanks Shammi Note : Trail mails are shown below for your record [protected] Forwarded message[protected] From: Reshma Shammi Date: Wed, Jul 31, 2013 at 5:50 PM Subject: Re: Barclays credit card - Settlement Letter To: Roopa.r.[protected]@kotak.com, girish.[protected]@kotak.com Hi As discussed with Khan, I would like to highlight that we have made full & final payment to an amount of Rs.12734 vide chq.No. 150715/[protected] to Barclay Bank PLC as communicated to us by barclay bank, But for whatever reason the same payment which was couriered through Blue Dart and got undelivered, Later when we contacted the bank they told us that they will send an authorized collection agent through whom we can settled the full and final payment, The payment to an amount of Rs.13250/- vide ch.No.158867/21-11-09 was made as full and final settlement for which we received a receipt No.C1113707 and the collection agent convinced and promised to provide a settlement letter as printed in reversed side of the receipt . But when we repeatedly followed with collection agent for setllement letter he stopped and unattending/disconnecting our calls . On Tue, Jul 30, 2013 at 11:12 AM, Reshma Shammi wrote: [protected] Forwarded message[protected] From: Date: Mon, Jul 29, 2013 at 4:43 PM Subject: Barclays credit card - Settlement Letter To: [protected]@gmail.com Cc: girish.[protected]@kotak.com Hi, Please find the attached scan copy of the Settlement & kindly make the payment immediately. The Cash / DD to be in favor of "Phoenix Trust 12 - 3 CC" Warm Regards, Roopa Rani B S | RARD | Kotak Mahindra Bank Ltd. NO 58 & 59, 2nd Floor, Sree Cmplx, Bhavani Housing Co-op Society, Kathrigupe, Banshankari 3rd Stage, Bangalore-560085|( +91 – [080][protected] Attachments area Preview attachment Barclay bank.pdf PDF Barclay bank.pdf