Kotak Mahindra Bank Complaints & Reviews

I am receiving continues calls from 0 [protected] claiming that they have unsettled dues of ABN AMRO bank which is now being taken over by Kotak bank. Somehow they accessed my Facebook and also calling my associates when I denied to settle this over phone. I have the issue happening for past 10 days.. and don't know how to get rid of them. Please help

I worked with this NGO for couple of years. They were into senseless activities. Their primary goal was money laundering They are owning Kotak Mahindra Bank, Mutual Funds etc and were just rerouting their black money through this NGO. Their paper work is very well done and neat clean. Its hard to find any discrepancies in their documents. But they are not genuine NGO( which NGO is). Most of the staff they have appointed are well aware of these bogus activities and so they just do timepass. The project head needs to show lot of work and activities being conducted so they keep running around the place eventually doing nothing. There is lot of internal politics and controversies and it just gets murkier day by day. The trustees and top management are not bothered by this controversies so they just concentrate on the statistical figures needed to get tax exemption. Everything looks systematic and clear but on deeper analysis one realises the fraud that is happening. The senior management is just interested in fund misappropriation. They invite their friends and ask them to conduct training session and then pass a heavy bill to trustees asking for re numeration of trainers and in that they get their cut percentage. Also they force the staff and school kids to attend overnight camps and picnic to earn lot of commission from third parties. Do not be fooled by their talk of working for a cause etc, they are good at fooling society and government Overall a fun atmosphere to work, with excellent salaries and perks but you need to play along this fake con work they are doing and handle the politics played.

I would like to share the bitter experience that I have had from Kotak Mahindra Bank.After changing my salary account from Kotak to Citibank in the month of March 2014, without any prior notification or intimation, continuosly an amount of Rs 842.70 has been deducted from Aug 2014- Oct 2014 per month and an amount of Rs 561.80 from Nov 2014- Feb 2015 monthly as non maintenance charges.I have faced a total loss of Rs. 4775.30 which is unbearable for me and on calling up the salary department of Kotak, they are denying to take up the responsibility and refund me my amount back.I was never intimated about the rules of deduction either during opening the account or even after changing it from salary account.The bank persons never intimated me about the deduction that will be made on changing the salary account, neither through email or through phone and they kept cutting the amount from my account. I have suffered a loss of Rs 4775.30 which is a big amount for me to be beared.Kindly look through the complaint and help me to get my amount refunded.

Hi, I have a complaint for Kotak Mahindra Bank. I have an account in Kotak Bank. One day they called me for giving a credit card(which I have not applied for) for which I refused and asked them to cancel it. Then they said "Ok sir we will cancel it". And then within 5-6 days credit card was delivered to my address. And then they activated cpp plan on the credit card and sent me a bill of 1400rs. I don't know why the bank is doing such things without my confirmation. Please help to eradicate such fraud banking services.

To, The Grievance Officer/BankManager, Kotak Mahindra Bank, Madhapur Branch, Hyderabad. Sub:- Imposing of varioussurcharges(TBMS etc) on my account. CRN 34402997 Sir, This is to bring to your notice abou textra charges 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 IBM to TCS. I would have been happy to continue with the account. However, TCS does not have Kotak as one of their banking partners; therefore I have opted for HDFC. I have always been a patron of Kotak and have recommended it to several of my colleagues and, upto an extent that I also hold a joint account. I have savings accounts in couple of other banks and amongst them, I chose Kotak for an ECS loan deduction that is triggered on 4th of every month. As mentioned earlier, my salary stopped getting credited into my Kotak account. However, I still had the intention to continue your banking services and have kept my Kotak account active by manually visiting the nearest bank every month and depositing a sum of +/- 9000/-exclusively towards my ECS deduction. In the recent months, I got a couple of calls and had to undergo a series of heated discussions with the loan provider HDFC for ‘insufficient funds’ in my account. I was stern and absolutely confident that I had funds in my account because I never missed on depositing amount every month. I had immense faith in your services and consistency that I defended Kotak in front of HDFC loan personnel. To my utter shock, when I began checking as to why there is shortage of funds, I came to know that there were several extra charges on my account and my balance went below my ECS deduction amount. I had to apologize to HDFC and also pay fines for dishonoring the loan agreement. I immediately walked up to the Madhapur Branch to have this addressed. The person at the reception told me that my account is a minimum Rs.50000/- account. Which means, I must maintain a balance of Rs.50K always, else there would be extra charges. I was absolutely shocked to hear that. My salary itself was never Rs.50K ever and I have never requested for anything as such. At the time of opening the account, I was not told of anything so and neither was I intimated of these so called ‘conditions’ when my salary stopped crediting. Trusting your banking services, I just wanted to continue banking with you despite it not being my salary account and as a penalty I am being slapped with unnecessary charges.I am also being charged for not using my Debit card. Do you not feel it is up to the customer as to how they would like to operate the inflow and outflow of funds, as long as the account is in active state? The person at the reception only gave me one option, to terminate the account. He was hopeless in providing options and retaining the customer and urged me to force close. Looking at it from a customer’s point of view: - I had to pay a penalty to my loan provider HDFC for not maintaining Rs.8641/-, effecting my cibil score - I had to pay a fine to Kotak for not maintaining Rs. 50, 000/- in an account whose salary itself is not Rs.50K and not using my Kotak Debit Card. This is highly disappointing to receiveno intimation of deductions made into my account. This is totally unfair from the authorities. It shattered all my faith in the bank, Iwant you to return my hard earned money which is taken for unfairreasons. As bank sends frequent alerts for the transactions happeningin the account via emails, SMSes and unwelcoming calls for credit cards and loans, how surprising it is that no information being shared for the deductions happening in my account. It has been a silent affair done in the dark. How can an average salaried employee maintain Rs.50K ? I request you to kindly consider thiscase and reverse / waive the charges imposed on my accountforcibly(eg. minimum balance) as a final settlement cheque, failingwhich I would have to force close a handful of other accounts in your branch because of the bitter experience. I would not want my familyand friends to undergo the situation I have been through. You can feel free to reach out to me on [protected]. Name: Rohit Varun CRN Number: 34402997 A/C Number: [protected] Phone number: [protected] My address for any Correspondence is – 10-84/23, 3rd floor, Venkateshwara Appts, F Block, PVN Colony, Mirjalguda, Malkajgiri, Hyderabad, Telangana. 500047 Yours Truly, Rohit Varun

Some goondas claiming that they are the employees of Phoenix ARC a subsidiary of Kotak Mahindra Bank were assigned to collect dues from defaulters of ABN Amro Bank. Even though my credit card account was closed and the remaining balance waived off, the said persons threatening me over phone to settle the alleged dues immediately. During the year 2005 the said ABN Amro Bank voluntarily through its executives approached general public and issued credit card to them. My account was closed in the year 2006 and at that time remaining amount was waived off. I can't understand that how can they reopen the account which was closed nearly ten years back.

I, Mr. Pankaj Tiwary, like to inform all that kotak mahindra life insurance ( AC Market Branch, Shakespear Sarani) I joined last year. The team of Mr. Subhankar Banerjee (DM) & Sayani Das (CAP) under Sayani Das. She told me to bring policy of amount Rs. 2, 50.000 lac & I have to recruit 5 candidate under me this is my training sassion. After my training period I will get salary of 10, 000/- after 6 month my salary will be 20000/- & then 30000/-. This was my first job. Sayani & Subhankar banerjee always force me to bring policy from my family. I bring 250000/-from my family & relatives. After that I came to know this is a part time job. They are giving me the position of AP (AGENCY PARTNER). in the offer letter it was written that only 4 days I have to attend the office, compansation is only Rs. 3000/- (Three Thousand). The team of Subhankar banerjee all arte lier. There is a trap. Lots of candidate with my batch join kotak mahindra. Every one is cheated by Sayani Das, Debasmita Sinha, Supriyo Mondal& others. Subhankar banerjee after taking the money always behave so rude with the candidate. Instead of giving a job they are spoiling the career of all candidates. Lots of gud candidates join there. For the tag of insurance most o[censored]s as a fresher didnot get any job. one of friend pushpita's father is not so rich but for the shake of career they give money to Kotak mahindra. Now they are badly suffering for money. I like to request to stop this & save the life of some innocent candidate.If any doubt kindly recheck with other candidates who already left Kotak Mahindra due to miscommitment. Need to take a proper action against the team of SUBHANKAR BANERJEE of AC MARKET BRANCH, 1NO.SHAKESPEAR SARANI.

Dear Sir, My name is D.Senthil Kumar from Chennai, my self and the bank Kotak Mahindra have no relationship in any course of banking activity and also I don't have any account or loan or credit card with your bank.But today i got a call from Swetha claiming herself from centralize department and was infomred that the call was in regards to an outstanding loan taken by James Jude Fraser and he is not giving proper response when he is contacted.i was also infomred that this person have have given my name, phone number and my address as reference.i did not authorize james to give my name as reference and i did not sign any document as gurantor.swetha infomred that i will get calls every 15 min in this regard.i feel that is unethical practice by calling me for the loan taken by James.James worked in the same comapany i used to work more than a year back and i do not have any contact with this person or know his where abouts.The person who spoke to me spoke in a threating tone and said i will recive calls every 15 minutes which i consider as harrasment. The bank Kotak Mahindra has no business to contact or call me, the only person that can talk to is the loaned person not me OK.Please note down the calling number.[protected]They call themselves centralized department and her name is Swetha)If i stillreceive a call from this number, I will lodge a police complaint for assault and battery against bank and calling agent.Pls look into this matter on high priority.

I regret being Kotak customer.Such a horrible bank.I had credit card and company salary account with Kotak.Credit card settlement done verbally. no one gave settlement letter. after all the settlement funds are paid. buggers are asking for more funds. Such a bunch of cheats.on top of that they ceased 12k from my salary account without any intimation. Can someone help me bringing them down to their knees.i'm ready to spend as much as required. Feeling cheated is a terrible experience for me.

Kotak Mahindra Bank cheated in all possible way. First of all my request of cheque change was never processed inspite of submitting application for the same. Then inspite of clearing all payments, their collection team misbehaved with my family and now the have levied collection and bouncing charges of Rs 65, 000/-, which is not justified in any way. I wanted to settle this amount but no one from Kotak Mahindra Bank is taking up this issue.

Dear Concern, This mail is in reference to the Account, I want to close the account as i have been cheated by the bank .. when the account was opened it was told to me that it was my Salary account and No Min balance needs to be maintained . But Your bank has unnecessarily charged some penalty and that too no of times. No update as why this amount is being deducted No update on deduction though i have taken the paid service for msg alert on any activity of the account ..Am i paying the penalty of being with Kotak Bank... This is Height of being cheated By the BANK . I Do not want to continue my account and want my Deduction charges Back ..

I have an account with Kotak Mahindra Bank Ltd. as a Silk Savings. I have been entitled to free PVR Movie Tickets and other privileges being a Silk Customer on minimum balance maintenance and minimum spends through the car. after subscribing to this account i never had an issue, but suddenly July 2014 onwards after a new account apart from this account was opened with KOTAK, since then all my privileges and movies tickets etc. have been stopped I have complained to their customer service several times but no use. they asked me to go to the branch, and i did that several times and met Ms. Diana there but still no use. she took months to try to resolve but no revert and no action. they asked me to close the other account, I did that but still the problem persists. i have been gettting false assurances and only promises from their branch manager mr saurav ranjan and shamelessly they only verbally say things and make it a point to never put it in writing. i have emails from them apologizing and issuing backend tickets etc. but still month on month the problem continues and there is simply no resolution to this. they complete system is corrupted and not rectifiable. Please note - I will not let you guys harass and trouble me. I will continue to escalate this again and again on all different social websites till the time i get a resolution. After discussing this issues again and again and again with various people in your bank I feel that now its time to take to the highest authority in Kotak. As careless and shameless as you could be... you have not only harassed a customer but also been apathetic about the issue faced by me for over 8 months now. - Dipti Trivedi [protected]

I had applied for Kotak Credit card when i got a call from their representative that they can get my card delivered within 7-8 working days. I required to transfer balance from other card to a new card and I gave all my papers the same day. I called the same representative several times to check my status, but he didn't pick the phone. Then during the verification call i recieved, i told them I dont want the card as they were delivering it after 20 days(against 7-8 days promised by first representative). I thought that my misery with Kotak is over, but then i received my Card along with annual charges of Rs 1499 on my card. First, I did not get the same card which was promised(limit way below what they told). Second, I asked verification dept that I do not want any card now, still they gave it to me. Third, when i called the customer care they are telling me that card cannot be cancelled as the reason I am giving them is not valid. If this issue is not resolved then I am going to launch a formal case against them.

I made a IMPS of Rs 6510 from KMBL to Axis bank (Ref:[protected], the amount was debited from my KMBL a/c and is not credited to Axis a/c. I was told it will be reversed shortly but I don't know when it will reach my account. It's not fair to hold the customers amount for the banks transaction failure. So please do the needful.

Sir, Kotak has been unconditionally deducting the amount (Rs 561) in the name of maintenance charges (TBMS). Whenever complained about the same, they says it is a valid deduction without even bothering to check for the request. After forcing them to do so, will apologize and promises to refund it back to the account and this has been happening for 3 months in a row.They deliberately delay the reversal so that it is again deducted the coming month. Above all there is no intimation of deduction nor SMS sent like any other debit or credit is being made on the account. Name: DHARMENDER KUMAR CRN Number: 7744908 A/C Number: [protected] Phone number: [protected] 8 December 2014 Rs 561 1 January 2015 Rs 561 25 january2015 RS 561 25 Feb rs. 28 Total amount 1711

Hi my name is Arvind Vishwakarma my CRN is 47107112. I use to have Kotak credit card which I have used for more than 1 1/2 year where they was no delay in my payment. Due to some financial crises for 3 month I was unable to make payment so in fourth month they had put a block on my salary acc. When my salary came to my acc 16000 was blocked, now my credit limit was only 10000. Where my principle usage of the card was 9800. Still I thought let it be I'll pay the all charges and clear this up. Now after couple of month I'm receiving message that I need to pay more 4000 to 5000. I'm asking you why should I pay my I have already paid more than what I own. If It’s not going to be fixed I'm logging case in ombudsman and consumer court.

Respected Sir, My Credit card is approved on 14th february 2015, but still now i didn't get my card. i check the status of courier it shows consignee address is incorrect, i contacted the courier service they said that please inform to the shipper to change consignee address.my actual address is M.srujan h.no:8-3-615/1/B habeeb bagh, yellareddy guda, ameerpet, Hyderabad. PIN:500016

Dear All, I am writing this review to suggest you not use kotak products. This bank is the worst bank in India and deducts unfair charges for each and minor services. I am writing why not to choose Kotak bank, please find the reasons below: You need to visit to bank's branch for changing smaller details of your account. Like conversion of account type, phone number update, closing the account. The bank charges very high fees of debit card annual charges( Rs 561.80). If your account is Salary account, and after 1-2 months your salary is not credited, the AMB of the account will increased abruptly to 50000/- rupees from zero-balance account. They will first issue your unnecessary add-on cards without taking your consent when they open your account and later will charge the unfair money for each card. For each month if AMB is less than 50000 then Rs 841 will be deducted. They will deduct the AMB money even for the months 2 years back date without any reason. You need to check your old statements and then request them for rolling back the charges. The customer care and bank staffs are rude like government banks. And they will never solve their problems. I am exhausted with the bank services and will close my account when I will return to India as they are not even closing the account on my instructions. Thanks Prashant Kotak CRN[protected]

Hi All, It has been 4 months now I am debiting my loan EMI from Kotak and loan is taken from SBI. For the first 2 months my EMI was debited regularly with no problem but on the 3rd EMI Kotak did not allowed SBI to debit the same mentioning that the ECS Mandate form was not submitted from SBI to Kotak due to which they cannot allow. I checked my bank statement and was surprised to see no EMI was debited and went to SBI. They said Kotak claims that ECS Mandate form was not submitted to them by SBI hence they stopped it however SBI said that they did while processing the loan. And now SBI is charging me interest for this skipped EMI which is not my fault. As per SBI I have to pay this while Kotak says they never got the ECS Mandate form so it is not their fault. Now between this I am the sufferer and have to pay interest charges even though it is not my fault. ECS mandate form is something banks has to take care of while here both the parties are running away. Please share your comments if you have heard of such issues and how to resolve it. The charges are not high though but why do I pay for something which is not my fault.

I was contacted my a Kotak credit card person April 2014. He said their is a offer in Credit Card, where customer can get the card and put his limit amount in Fixed deposit. The amount customer can convert as EMI for a year. Next year same day I will get the amount with 12% of interest. I did same by his words investing Rs 25000, with converted EMI about Rs 1988 . I signed documents where ever he asked me to sign. Month back I got a policy document stating I must pay Rs 25000 every year for Life Insurance which I never asked for. I shocked and called the person he told their is a mistake will look into and update me. Till now I contacting him but he is not picking my call, when I enquired in the insurance team they said I wont get my money back, I want to pay for 10 years. I dont want to pay any more. I want you people to resolve the issue and get some % of money I paid. Its Rs 25000 please do the needful. Take action on the person. The Person cheated me details: Name : Devendran Phone no:[protected] Location : Chennai