Kotak Mahindra Bank Complaints & Reviews

Hello, I am from Kolkata. And once I got a call from kotak mahindra insurance (Middleton Row, Kolkata - 700071, Near Maidan Metro Station, Shakespeare Sarani branch). I wan asked to come for an interview for the post of consultant trainer. Later, I visited the office at the above address (AC Market 1st floor). Where the HR told me about everything about the job profile as a Consultant Trainer. And on the next day they charged me of 2000 rupees...

I opened kotak account in madhapur branch with crn #64898832 in oct"15 and didnt maintain balance till feb"15. I converted my kotak a.c as salary a.c from hdfc in the month of march. As soon as i got my first salary kotak has deducted 581*5 as non maintainance charge, I thought i had to pay this amount because i was at fault of not maintaining balance but kotak people told me i will get the amount back. Now i had to go through nightmare to get this amount back because these people didnt be on there words. Actually its a group of rude, arrogant and lying people, not just one all of them whom i spoke to, starting from Sree Priya who works from our office (Tech Mahindra), Waseem (Supervisor), Vinod (Supervisor), Sunil (Corporate salary desk) and all other frontline agents who handled my call. I am giving this in written that all has lied to me and given me run around for such a simple thing. It could be this, either they dont know how the company works or they are paid to bluff with customers by giving them wrong information. Here is what happened with me: The issue was very simple, i didnt maintain my balance for five months and my money was deducted after i converted my salary account to kotak. First person i spoke to was Sree priya. This lady informed me mutilple times that she will get is done in a day, 2 days, week and so on and so forth. I realised later that she is of no help as she is giving me run around. Then i started calling kotak customer service. They informed me i have to wait 3 months as the salary will be credited for 3 months i will get the amount automatically. I decided to wait for 3 months and then in the month of may when i got my third salary. I called kotak and from here there was no call in which i had decent conversation. Which ever time i spoke to kotak my BP use to shoot up high. So firstly they promised so many calls to me which were not done. I work in night shift so i was missing calls from kotak earlier. So did informed them to call one number on which i am available. Supervisors, vinod and waseem promised me call backs which were not done. Later i got call from sunil however he also started showing me same thing later. Sunil is the guy who brings the twist in this. As i was informed i will get my complete amount reversed which was deducted for non maintaining balance after 3 mnths salary crediting info kotak account. As i didnt get any call from sunil so i called him and Now sunil told me first that he will only be able to credit 2 months charge and rest three months charge i will get after 2 months as per policy of kotak. When i questioned him that how come my freinds who has same issue and he got his entire amount reversed at the same time. Then gues what he changes the policy and informs me that he can credit one more month but not entire money. When i questioned him why he has no answer and when i tell him about the discussion which i had with sree priya he bluntly said "i dont know what she informed you, this is how its going to work". He advised me that he can do nothing and i should speak to sree priya. He also said he will call me back after having word with sree priya which he never did till now. Coming back to square one i called sree priya and first thing she said yeah i remenber your case its already processed. Then i told her this story she said she will take care and i will get the amount in same month. Asusall nothing happened for 4 to 5 days no call no update so i called sree priya and now she bluntly informs me that i will get the amount in june. When i told her about my friend who got the complete amount revered for same issue, she says the quota is over for this month as if its government office or college and i am applying for job or admission seat. All these conversations which i had i never felt that i am speakinv with some people who believes in customer service. Every one there i think is trained on doing arguments . cross talks, speaking over customer so that he cannot put his point accross.

I had a corporate salary account with Kotak which is now converted to saving account. I hold this account in Kotak-Bangalore, Koramangala branch. I received a mail this month informing me about a deduction for the month of march as non maintenance charge. I reviewed my account and found a continuous deduction of INR 842.7 since july 2014. I was never informed about any such charge by Mr Ravi Pandey who opened my account. I sent the below mail to Kotak's customer care 9 days ago and got a automated reply that my complaint will be taken care of in 5 working days, yet I have got response so far. Then, I spoke to the Senior Manager Corporate salary bangalore, Mr. Parvez khan and was told by him that he can't help me with this and I should raise the complaint with customer care on phone. I did that as well and it's been 3 days and once again no response from Kotak. [Service Request Number for the complaint- : SR#1-[protected] ] The mail that I sent to Kotak- "Hi I am Dolly Sharma, account holder of Kotak corporate salary account number [protected]. I hold this account since 29/09/2013 and I am writing to express my shock and disgust with banking at Kotak. On May 1 2015, I received the below mentioned mail regarding salary not being credited, required balance and non maintenance charges in the month of April, 15. At first, I was confused to know that there is a 'required balance' to be maintained in the account. As when I opened the A/C, I was not informed about any such "required balance" to be maintained. Upon reading this mail, I checked my account's transactions since the last year and I was shocked to see that there has been a continual deduction of INR 842.70 every month since June 2014. I couldn't believe that from the amount that I kept as a saving, a total of INR 10112.4 (842.7/ month since June 2014 to May 2015) has been deducted without a single intimation to me. I have sms banking active on my phone but not even once did I receive any call or sms regarding these charges. This only shows that either Kotak is deliberately trying to fool customers or the process at Kotak is inherently fraudulent. I called in the customer care to check the 'required amount' to be maintained as I had over 15000 rupees when the deduction started last year. To my shock, I was informed that the minimum balance is INR 50, 000. Below are a few questions that challenge the intention of your company's processes and clearly show why the deduction is utterly deceitful. 1. Why was I not informed about any such 'required balance' at the time of opening of the account? 2. These maintenance charges have been levied on my saving bank account for 12 months, why was I not informed about these charges even once? 3. In my company, the salary credited to my account was less than INR 50, 000 then how can my corporate salary account have a required balance of INR 50, 000? Please look into this matter at the earliest. I do not wish to continue with this account or this sort of banking so I request you to close my account immediately. Also, people do banking so to save and NOT to give away their hard earned money. The charges levied on my account are absolutely unacceptable to me. I wish to get the refund of the amount (INR 10112.4) deducted unethically and unprofessionally from my account. " Hope to get a timely refund of my money that has been deducted unfairly by Kotak.

I am a Privy League Bank customer of Kotak Mahindra bank, and also have my trading account with them.I was informed that there will be no demat charges if I open my account in their Bank Branch securities.I switched mine from their Ghatkopar branch to the Bank's securities just to save on monthly demat charges.But it was not so as they kept charging me demat charges month wise directly from the linked Privy league saving account.I objected and asked for explanation from my RM, But no suitable reply received so far.The only reply on my email that I received from their executive Shweta two days back, that too after pursuing for months, that they are actually brokerage charges.This is rediculous.I am paying brokerage charges each time that I buy or sell any shares.Then why am I being slapped with double the brokerage charges.I have this photo added as a proof to show that Privy League Customers of the Bank are not charged Demat fees.But sorry to say I am being charged the same and no proper explaination or reply being sent to me after all the emails and phone calls that I have made to them.Please see the picture and I have all the records of the correspondence email with me to substantiate my case.Thanks

The Staff at HSR Layout have a very haughty and rude attitude, I had nil balance in my account so the bank began charging me for non maintenance of minimum balance close to 4000 Rs. I enquired with the bank on closure of account, I was told that first I had to reactivate my account as it was frozen and re submit all documents as I would for opening fresh account. I submitted the documents they had initially taken from me for opening, for address proof I submitted Rental Agreement Proof and another Bank Pass book which they had accepted on opening, but they refused to accept those asking for driving licence as address proof, I had driving licence of old address which I gave, they refused, with no option I spent another 2 months to get my Driving licence renewed to my current address, during this time they kept levying charges for non maintenance of minimum balance, I submitted the driving licence and photos and other documents as soon as I received them, they made me write an application for activation and again later come to close on activation, However I still mentioned in the application that I was activating so that I could close the account, which the banker did not like, I was also asked to pay all the dues on non maintenance which I did close to 4000 Rs and some more extra for any service charges they may need, after waiting for another 1 week for activation, during this time too they kept on levying charges for non maintenance. When activated I was asked to come another day for closure form as it was not available, during this time Bank changed to Kotak Mahindra but staff remained the same, I went a few days later for the form, during which I was told that I again need to pay addition 200 rupees as I dint fill closure form on that day itself, They insisted I again pay up, after much explanation regarding non availability of Closure form and clarification and counter explanation to another lady they were still adamant, finally when I was literally in tears asking them to explain why there were charging me when 2 months back itself I requested in writing to close the account and earlier to that too I was running to get the driving licence renewed, and I would complain to Ombudsman they finally agreed to close the form, citing false reasons that It was not being done as I dint provide reasons for closure, I told them that insufficient balance was on the face clear reason, which I had told them earlier too. Now I have my account closed, but their behaviour towards me and this Ill-treatment I can never forget.

Dear Sir, I'm having a salary account in the KOTAK BANK which is opened on August-2014 and after December-2014 my company has shut downed in Hyderabad. and from that time I'm not using the account and while opening the account the executive has informed me that it will not charge a single Rupee directly i can use with zero balance. From January-2015 I'm not using any of the transactions and when i went to Madhapur Branch(Hyderabad).I waited till almost 2-3 hours and then one of the executive informed me that as the bank closing time.So, plz come tom morrow. and I went to brach at almost 1'0 clock. My salary is almost less per month and today[protected] i got an sms from kotak that I'm having a "-balance" and need to pay that amount and also the executive informed me that the closure form will be collected Rs.600/- and additional the "-Balance" need to pay. I'm having in HDFC bank almost 1 year i didn't use my salary account and when i went to close my account they received me and with 5 minutes they given the approval and with in 3 days the account is closed with Rs."0/-" charges. Mobile No. [protected]. My account No. : [protected] I'm requesting to close my account with the zero charges. With Regards, Deepak Ennaganthi Mobile No. [protected]. My account No. : [protected]

I took personal loan amount of just one lack from Hyderabad branch on Augest 2014.My Loan Acc.details: SPLN – 59287810 I am depositing my EMI due amount in advance on 1st of every month without fail even though due date is 10th of every month. On7th may got call from kotak sales manager[protected] communicated sorry threaten that I have been charged Rs 750 monthly and Rs.1700 charged already due to RBI guidelines. Also told me that if I failed to pay the penalty Kodak will approach legally and my complete family will go to jail. I asked him I paying EMI regularly and before due then why I supposed to get such a seviour punishment. His point was, 1. My loan agreement EMI payment channel thru ECS from ICICI. Kodak couldn’t able to process due to lack of process limitation in Kodak to enable ECS facility. 2. Even though ECS not enabled Kotak couldn’t able to collect 20 blank cheque from me due to lack of branches communication gap between Hyderabad and Bangalore (presently I am staying in Bangalore due to work relocation and it was informed to bank in January ) 3. Even though I am paying emi thru NEFT as per Kotak representative (old manager) guidelines. I will punish Rs.750 monthly (Emi due only Rs.4833) due to RBI guidelines. 4. I have been charged Rs 1700 in December-14 due to making payment thru NEFT from February -15(Don’t understand penalty in advance concept) Here my Question is, 1. Why I have not been informed ECS facilities issue in the first month of EMI. I aware only in the month of January because cheque unavailability for remaining month(provided 7Qty of blank cheque initially ).I provided my Bangalore address to collect cheque but nobody came from Bangalore to collect the cheque .but within few days again got call from Kodak from other team that don’t give cheque pay thru NEFT. They provided Kodak NEFT details. 2. Now sales representative saying that NEFT transfer is against RBI guidelines. I should not do.and his statement is that you are borrower so you have to go bank monthly& report them any issue in emi amount. Bank will not communicate (Am I killed anyone or what or is it bank or police station) I choose Kotak bank for the loan because I was Mahindra group employee. Total Loan amount is not even my monthly salary. I just took loan for some personal emergency. Why I have been punished and heavily charged even though no mistake from side. Why I am getting miscommunication /most of the time No communication from Kotak. Is this purposely my ECS facility has been cancelled and depositing cheque in later date & charging heavily without customer knowledge? Is this way to make profit from customer? Charging customer in the Name of RBI rules and Recruiting kundas as a sales representative and speaking abuse word to customer. And is this purposely not provided my loan Agreement copy .i have not yet received agreement copy till date. I am paying EMI regularly as per your team guidelines .if many of your team communicating and directing different ways .why customer has to suffer and pay penalty. I am completely stressed because of this small loan amount getting abuse word. I hope I get resolution from higher management. I have already posted online complaint to consumer court in social media. Please send your explanation at earliest. Regards, Palaniappan

kotak mahidra bank - Closed and charges [Comment in Complaint]Dummy advertising kotak bank...kotak mahidra bank - Closed and charges [New Complaint] The Grievance Officer/Bank Manager, Kotak Mahindra Bank, Camp Branch, Pune 411001. Sub:- Imposing of various surcharges(TBMS etc) on my account- [protected]. Sir, This is to bring to your notice about extra charges 7200 levied on my account number [protected] . This is a salary account that I have opted to take about 3 years ago. 6 months ago I have changed my company...

dear sir, I m anupam mishra ex employee of kotak mahindra life insurance bhopal branch my em code - le28407 and p.f number is-mh/45187/28339.all the documents will send kotak office mumbai one month ego amount will not credited in my account plz provide information. anupam mishra [protected]

The Grievance Officer/Bank Manager, Kotak Mahindra Bank, Camp Branch, Pune 411001. Sub:- Imposing of various surcharges(TBMS etc) on my account- [protected]. Sir, This is to bring to your notice about extra charges 7200 levied on my account number [protected] . This is a salary account that I have opted to take about 3 years ago. 6 months ago I have changed my company from Kotak Life. I would have been happy...

I am a kotak NRI customer. I am following complaint no 1-[protected] I am repeatedly facing following Issues o[censored]nwanted renewal of my TD's since I converted my account to NRO. 1) showing wrong principal amount ( Rs. 13, 320 for the TD no [protected] instead of Rs. 15, 000.00) 2) maturity date for both TD's should be April 2015. I need answer for following questions 1) How my TD's got renewed even when I didnt give any request for renewal ? 2) Why TD No [protected] is showing principal amount as Rs. 13, 320 instead of Rs. 15, 000.00 ? I am not getting any satisfactory reply by calling CC. My emails are not being answered even though I am following this issue since 25 March 2015. Even the nodal officers are not replying to the emails. Very disappointed with this bank . I will close my account soon. I ADVICE EVERY NRI NOT TO OPEN THE ACCOUNT WITH KOTAK since they will just cheat you taking an advantage that being NRI you cant deal with them personally at branch. hence go with some other bank like ICICI. If this thing would have happned in US, the bank would have paid compensation to the customer for his wasted time and efforts.

Dear sir/Maam, One agent from Kotak (Chetan Agarwal phone no. [protected]) asked me to take a kotak insurance policy for a premium of 50, 000 per year against which they will be giving me loan of Rs 3 lacs. I took the policy and now he is saying i should be paying rs 20, 000 into the following account and the money will be released. Ac name CRC Ac no[protected] ifsc code vysa0008610 I called up kotak insurance and bank and they are saying such calls are fraud. The agent is calling me again and again and convincing me. He made me talk to his senior Rajeev Sinha ph [protected] and he assured the same thing. Such people who are cheating the consumers should be arrested. PLease take strict action. Regards, Ramneet

I closed my saving account and two demat accounts in kotak mahindra bank, maninagar ahmedabad, . long time ago by returning cheque book, atm card, etc. but when they requested me to open new account which we will tie up with your current account which is in same bank they said me we will continue your closed account but no charge will be taken on this but when they reopen my old account, charges for maintaining low balance and card fees which is nearly ten thousand rupees were deducted from my current account.. Till now i requested for reversal but it is in progress from last ten months my s/a No [protected] and current a/c No [protected] JG Construction so please take action for this fraud

We have foreclosed Our car loan(Loan A/C 8414339) on 21 Feb 2015, however the Kotak MaHindra has refused to give NOC as One of the guarantor has taken CC from them and he has some due amount. I'm the main applicant and was not aware of it. However the recovering of CC amount and my car loan should be treated Separately, its already two months I need the NOC as soon as possible or else we will take it legally. I have already asked them to provide me documents which says this car loan and cc are related and which has a signature of mine? However they are unable to provide any document as of now.

Today when i checked my statement it showed deductions for non maintenance of min balance for Aug 2013 and July 2013. If there is a charge for non maintenance then it should have been deducted on the same month/year why the deduction now after 2 years?? So not interested to continue banking with kotak. so transferring the remaining balance to my other bank a/c. and please close my kotak savings account ASAP

Dear Sir/madam, My Name Dheerendra Kumar My [SR#:1-[protected]]., I have a saving account with Kotak Bank Pvt. Ltd.. My On September 2014, I tried to withdraw cash from UBI Bank ATM situated at Noida Sec 66, near Mamomra but the atm machine showed that there is hang up. But my bank debited 10, 000 Rs from my account and when I complaint against this transaction and asked for cctv footage. Kotak bank repreplied that UBI Bank had given video branch sec 63. Please do the needful. Regards, I am Dheerendra from Noida. My [SR#:1-[protected]]. regarding this i went sec-63 branch noida. but branch person told me don't have any video regarding my problem after that i called up mr AMit (agarwal.[protected]@kotak.com / [protected]). he didn't give me response & then called up Mr. Saurabh (saurabh.[protected]@kotak.com / [protected]) but he told me this time i am busy so that after some time call me. I want to say it's not reliable ans of my problem. Why Kotak Mahindra Bank Ltd. irresponsible for customer. I need solution regarding problem. Dheerendra Kumar +91 [protected]

Reference Payment Id : 10633926 Application Form Number : 7508036 Name Of Applicant : NILABH AGARWAL CRN (Kotak Mahindra Bank[protected] Refund Cheque No. : cheque No 11613 dated 20th Dec, 2014 I had received DDA application refund almost 1 month after the same was transferred by DDA to Kotak Mahindra Bank. I have incurred loss of interest on Rs 1 Lac due to delay caused by deficiency of services by kotak Mahindra Bank. Kotak has not responded satisfactorily towards my demand of interest for this period. Following are the issues raised by me against kotak Bank which have not been addressed.. 1. Why is the cheque issued when its very easy to transfer money online from any kotak account to any kotak account holder. Why didnt kotak authorities ask/call the customer before playing with his/her money. Just to remind you that I receive a lot o[censored]nwanted calls from kotak Bank offering Loans, credit cards, pension plans etc...How could such an important confirmation call be missed? 2. The address (Almora) mentioned in my DDA application form does not have any Kotak Mahindra Bank Branch. Why the same could not be verified before sending the instrument there. The decision to send the instrument, knowingly, at a place where it could never be deposited definitely reflects your mala fide intentions. 3. My parents (Sr Citizens) staying at Almora had an additional task of travelling to the Post Office and posting the instrument back to Delhi and i had an additional burden to walk to some of your branch in Delhi out of my busy schedule. 4. Why do you want the customer to walk to the bank to deposit the instrument, in an era when even DDA application process did not require even a single visit either to any bank or DDA office. It definitely seems an intentional and planned conspiracy by kotak authorities to earn on my 1 lac rupees by causing unnecessary delay. It has almost taken 1 month to get the amount back in my Account, which could have been done within minutes, without bothering anyone. The series of events mentioned above clearly indicates the deficiency of services from Bank's part and I have suffered from financial losses and otherwise because of the same. The way kotak has handled the DDA process has clearly exposed your vulnerable quality of services. The customer convenience and service has been strongly compromised just to earn by holding customer's money. It really proved to be a nightmare. Regards, Nilabh Agarwal E mail - Nilabh.[protected]@gmail.com Mobile - [protected]; [protected]

Hi, My name is Juzer Zoeb Motorwala savings account number ******9528. We had opened this account through an agent named ANAND contact number - +[protected] in November 2014. At the time of opening of account the agent told us that the account number would be[protected]which is my dawoodi bohra ejamaat number). Which eventually never happened. Also we were promised that the account would be 0 balance account which I see is not the case. Also till today I have never received any document for the account. The agent very well knew that we were supposed to shift in one week from the date of registration, so he told that the cheque book and atm card would reach us within 2 days. Also he would do the needful to change the address. I have never received any document /cheque book / atm card from the bank. The only thing I know is the account number and branch (saki vihar). I had heard a lot about the bank that they always do these kind of things to lure customers, but opened the account on the assurance of the agent, who now is not receiving my calls. Thus I was wrong and others were right and made a mistake by opening an account with this bank. What is done is done. Kindly close my bank account as you can see from the records that I have never done any transaction (not because I never wanted to but could not do).

So I have faced the worst experience with Kotak Car Loan department. I have a current car loan with these guys for about 2.5 years now. I have been regularly paying all my installments well in time since the beginning. It is very disheartening to know every now and then they come up with some or the other additional charges due from my side. The best part is that even my loan account statement is forged in a way that it shows outstanding from my side. Now my question is that if you want to rip off a customer then do it in one go!! Calling me every month for some petty amount is not acceptable at all! I made a big mistake by choosing Kotak for my Car Loan and would never suggest anyone to do so!!

Dear Sir/Madam I Arjun Kumar holding a credit card of kotak Bank and since member last 6 years i am facing problem last 4 months back related to address change i have already submitted the all document 3 times but still my address is not updated and mail confirmation from kotak bank updated city name wrongly. so i want solution for this matter and kotak bank executive demand every time address proof i have already submitted.bank executive ms.madhuri, mr.ashutosh, mr.deepak, and mr.sandeep and more executive daily give new solution and not knowlegde for this. regards arjun kumar [protected]