Kotak Mahindra Bank Complaints & Reviews

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

Firstly I want to say that Kotak customer care services is very poor and I have totally frustrated from kotak customer service support. I raised a complaint on 3rd December 2014 and yet I did not get any proper answer from them. The transaction details are as below: Fraund Transaction Details: Date : 29/11/2014 Description : [protected]//BAD HABBIT1 Chq/Ref No :[protected] Amount : -1, 170. 00 Note : I want to know the full detail of this transaction. Other confusing Transaction Details: Date : 29/11/2014 Description : [protected]//KARTIK MEDICAL STORE Chq/Ref No :[protected] Amount : -932. 00 Date : 29/11/2014 Description : PCD/[protected]/Kartik Medical Store/Ghaziabad Chq/Ref No :[protected] Amount : 932. 00 Date : 29/11/2014 Description : PCD/[protected]/Kartik Medical Store/Ghaziabad Chq/Ref No :[protected] Amount : -932. 00 Note : Please explain these transaction details also. When I analysed the transactions then I found that description and Chq/Ref No is same for two or more transaction, how is it possible technically. I am a Software Engineer and I have worked on many type of payment gateway and banking application in last 8 years and this scenario is not possible so please look into it and update me as soon as possible. Kotak customer care executives are not able to give the details of that transaction, I called 3-4 times for getting the status of my complaint but they have no any proper answer. They are always saying that "Sorry sir we cant do any thing regarding this". Please help.

Kotak has been unconditionally deducting the amount in the name of maintenance charges. 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 revert it back and this has been happening for 3 months in a row. And deliberately they delays the reversal so that i will again be charged for the coming month. Above all there is no intimation of deduction nor sms sent like any other debit or credited amount. With these unethical actions i decided to close the account, but the person sitting in the nearest branch(Panvel) asks to go to home branch and discus. Proving themselves to be useless. Very disappointing service. They kill their own customers.

Hi, I recently applied for loan from kotak mahindra bank for 1 lakh for the tensure of 12 months for interest rate of 13% Bank without intimating to me has approved the loan for 24 months for which i have to pay extra 7k because of increase in tenure for 12months as interest. I came to know this only when i am about to pay the monthly EMI. I never expected Banks will be cheating in this way also

my account no. is [protected] i have done transaction in the atms (DELBN269 & DELBN968) of kotak mahindra bank on 04/01/2015 from my sbi debit card [protected] my all transactions were declined, three transactions of 10000 each but i didn't get any cash but my account is debited when i registered the complaints with ticket no. AT[protected], AT[protected] and AT[protected] they sent me a log of atm machine which shows that my transactions were successful but actually i dint get any money all the times my transactions was declined so i left the room if the money comes out after i left the room then its fault of atm machine totally not mine please look at the CCTV footage also i am sure i didn't get any money.

we had an account no. [protected] in name of "creative wizards infratech pvt ltd" with kotak bank. due to bad customer service and ineffective customer relation service, we closed down our account in may 2013. but the sms and email daily account balance service didnt stop and showed zero balance. on complaint it was assured that they will soon cease. we complained again when a negative balance started appearing. it has since increased to Rs 70000. no one is listening in the bank and inspite of efforts of the bank manager, this menace is growing every day. bank is asking us to deposit Rs 50000 in the account, which we have refused. amit garg director, creative wizards infratech p ltd [protected] [protected] [protected]@creativewizards.in

we had closed our current account in name of "creative wizards infratech pvt ltd" in kotak bank 2 years ago. however we started receiving negative bank balance sms and emails. we learnt that our account has not been closed though we had the acknowledgment of closure form and zero balance (we had paid huge amount of negative balance to close the account). inspite of several reminders and requessts, it has not been closed. now the negative balance has mounted and accumulated to nearly 70000 INR. our account number with kotak was [protected]. amit garg director [protected] [protected] [protected]@creativewizards.in

Plan Kotak Smart Advantage Plan Policy no.[protected]Vineet Sood) Date of Commencement 15/03/2008 Premium Amt. INR 60, 000. At the time of taking this policy I was told by your representative that after the lockin period of 3 yrs, even if I surrender the policy, I would get more than what I had invested. Trusting him I signed up for the policy and paid the premium for rather 4 yrs @ INR 60, 000 p.a..However, in 2013, I realized that I was not able to continue the policy and wished to surrender it. Was shocked as after paying Rs. 2, 40, 000 for 4yrs, all I received was Rs. 2, 18, 000, that does not even cover the amount invested.After contacting the call centre repeatedly, I was told that the remaining amount of Rs, 60, 000 will be given to us after 15yrs i.e. at the time of maturity of the policy. If we have already surrendered the policy what is the point of keeping this money with you. Inspite of making many calls to the call centre, no one was able to give a clear answer as to why this amount was withheld. It was highly frustrating. Can you people imagine how it is like to loose your hard earned money!! I swear not to invest in any of your plans in future and spread a word of caution among my aquantainces. I request you to kindly find a way out and disburse the remaining amount as I am not willing to sit silently until I get my money back even if it means knocking the door of higher authorities. Its been almost six months that I have trying to sort this matter out through your customer care by making endless calls but to no avail. Its been quite tedious and frustrating now and if still no action is taken, I would be forced to take my complaint to consumer forum and IRDA. Kindly revert back and let me know what can be done about it.

My name is Aghor, my CRN no is[protected] I'm using kotak account from Aug 2012. Initialy it was salaried account but after sometime no any salary amount was credited into this account. Then I started to maintained with some amounts. And now, on the 2nd and 3rd Jan they deducted around 1000 Rs from my autometically without any information. And I called to their customer care executive then they said only we will be able to revert anything after 2-3 working days. Can anyone tell me why deduct my amount without informing me anything. I completely very disappointed with this mischief. Kindly refund my amount ASAP otherwise I've to close this account. I never like this kinds of theft. Looking forward your needful response Aghor Bhadra Singh +[protected]

Hi, I had made an IMPS transaction of Rs . 1800/- from KOTAK([protected]) to AXIS ([protected]). I was supposed to select the Account type as "Current" but accidentally I selected "Savings". The transaction was successful but no money was credited to the beneficiary account. I called Kotak Customer Care. They told me to wait for 2 working days for the amount to be refunded into my account. I called up Kotak Customer Care again after 3-4 days to know the status. They told me that the transaction is successful from our end so no money will be refunded. Then I asked my beneficiary to talk to Axis bank. They told "No money has been credited from Kotak's end so we cannot help you with this". Since, there cannot be two accounts with the same account number, how can the transaction be successful. The money is neither in my account(kotak) nor Beneficiary's account(Axis). I request you to resolve the issue and refund the deducted amount. IMPS Reference number :[protected] Regards, Sakshi

This is really ridiculous from Kotak. I opened a zero balance salaried account in[protected] and then stopped using this account after few months as I switched to another new company and I decided not to continue with this account. As per my information, it was a zero balance account and there should not be any charges for not maintaining the minimum monthly balance required. I was really not aware of this and never received any intimation from Kotak Bank either on email or by post and now it is showing a non maintenance charges of Rupees 1200/-. I'd like this charge to be removed from my account. Thanks! Registered Email: [protected]@ymail.com.

DEAR SIR, VIDE AGREEMENT NO CF10661429 DATE 16-08-14 FOR LOAN OF 19 LAKH WAS TAKEN AND REGULAR EMI ARE PAID. AS PER SERVICE TAX AND TOWARDS LOAN REPAYMENT TDS DEDUCTION IS REQUIRED TO PAY BY KOTAK PRIME LTD. PLEASE PAY THIS AMOUNT TOWARDS TDS ON INTEREST OF 40604/ DEDUCTED BY YOU ECS. PLEASE CONFIRM THIS MAIL, HOW WOULD YOU PAY THIS AMOUNT. BEST REGARDS LAWANIA MEGMA PRINT-O-PACK PVT . LTD. B-1 UDYOGKENDRA EXTN 1 GREATER...

One /Two girls are calling frequently from the following numbers i.e.[protected],[protected],[protected],[protected] registered in the name of Azam Passport off 1, Vinay Gairola and Rishi and calling our office number and asking to repay an invalid personal loan payment (to me) using abusive languages. They fail to provide any valid documents of their claim after our repeated request also. They are trying to keep mental pressure and disturb company business keeping engage our both the land line numbers, calling simultaneously from two different phone numbers. Even they are neither ready to meet me or send any document against their repayment claim, even nor mentioning their name too over phone, only wants me to pay money online. Its became really business hazards and also metal torture and seems to be fraud. We request you to take action against this.

Dear Sir, I have salary account in kotak bank. But now i am taking my salary through the cheque. Now bank has been deducted something 502 Rs. from my account. Even he did not inform me from June-2013. So kindly lock my complain against the bank. Please refund my amount.

You are deducting money(561.80+561.80) from my account everyday because of non maintaining minimum balance. But everything is fine in my account. Salary also credited correct time. I feel HDFC OR AXIS IS BETTER THAN KOTAK at least they will give some immediate response. I am not happy with KOTAK.

Dear Sir, I have salary account in kotak bank. But now i am taking my salary through the cheque. Now bank has been deducted something 800 Rs. from my account. Even he did not inform me from last year. So kindly lock my complain against the bank. Please refund my amount.