Kotak Mahindra Bank Complaints & Reviews

Hi this is Rajkumar Singh, there had been many calls from Delhi claiming they were from Crime Branch and a case has been registered against me for credit card default. I need to pay immediately otherwise they will arrest me and put me jail. I would like to know does Kotak Mahindra Bank had been doing this or some kind of fraud going on. Though I was not able to pay my outstanding, I dont know what type recovery method is this. Though Iam based in Mumbai, how a case be filed in Delhi. The people talking on phone also doesnt seem to be proper. Please revert to me if any such activity is going on.

Hello.. This is to notify that Kotak Mahindra Bank is one of the ridiculous bank who cannot set up the ECS with my current Bank whether I have sent the signed ECS form twice and also submitted their sent form once at my Yes Bank.. Dealing with them is not at all save because they wont set up the ECS and charge the Penalty and interest as they are doing with me. I won't trust them now because of their irregular behaviour and not listing to me over the emails. Firstly they requested that they will waive off the Penatly and Interest because of the Issues of ECS however now they are saying that they are not considering my request... After getting depressed, I asked for the pending amount which I can pay and get rid of the services of KotaK Mahindra Bank. But they are also not informing us the total pending amount.. I am in Depression now because of Kotak Mahindra Bank and if this will not get resolve then file the Complain ahead.. Thank you, Prajjwal Bhardwaj SPLN 32051770 [protected]@GMAIL.COM

Hi,

Below is the entire details regarding this complaint and posting the same mail which is send to the concern department of bank.


This is regarding the Pathetic Services provided by your bank, I had applied for Saving and Trading Account 1 month ago and the guy Rajdeep Mukherjee contacted me and collected all the required documents and informed me that I will be getting the Saving Account, Internet...

i shaji thomas, cheated by kotakmahindra insurance com.that the company branch in kolkata offered me a loan, for that, they collected 20000/-and idendity doccuments from me through their collection agent mithun paul at jalpaiguri on the month july 2013 as of security.but after a few days, they sent a policy certificate issued 31/7/2013 with mistakes in the nominee part.according to their instruction i sent back the certificate for correction to kolkata branch on augest 2013.they told me, that the certificate will get within days after correction, and also the loan amount may transfer to my account within month.[ policy no.02785527.and client id.56357471.] the agent mithun paul asked me and take 5000/-more as proccessing fee for the loan. after one month nothing happend, so i tryed to get them in contact, nobody attend the phone at office, when i contact to the agent, he told, nothing can do by him because he is only a collection agent, must contact with the kolkata office. after 7months i am in the dark, neither i got policy certificate nor the so told loan.so it is my humble request, to take necessary action to get back the money they collected from me as security. shaji thomas

i had policy no 01800964.i had paid premium for 2 years equal to 70000.after that i couldnt pay my premium, so the policy lapsed.After that i filed a application in ahmedabad office for policy recontinuation.that didnt give any reply for that.when i went again they said the policy was foreclosed and give me a foreclosure amount of rs.26000.now this i serious fraud on their part.

Hi I would like to highlight to you a recent incident regarding the behaviour of Collections agents represented by Phoenix ARC. Since this is regarding my own family, I am taking the responsibility to highlight it; though at the cost of safety and wellbeing, concerning the route Kotak takes. . .as you read you will know what I mean!!! The customer had a settlement of INR 30000 against INR 38000, with the first set of payment due on 31 Jan 2013. 2/3 days prior to 31st Jan, the customer starting receiving calls about the payment. So far - the incident looks normal - right? Well the calls landed at his current employer, supervisor, colleagues, fiancé, home etc. The agent who called had threated to call off Prantap's marriage if the payment was not made. His mother (who is 53 years old) was told to spend 3 nights in lieu of 30000 INR as the collection agency confirmed that they would relieve her son of any payment to Kotak. All in all 400 calls were made in a spate of 2 days. The details of the personnel involved are - Collection agency - Phoenix Trust FY 12-6 Scheme A Collection Agent - Satish Avinash and Aashish Place from where call was made - Delhi Please answer the following queries - 1. how can a collection call threaten be done prior to due date? 2. explain the collection process relating to such verbiage? 3. which legal details entails sexual intercourse in lieu of credit card collection? 4. which process allows calls to customer's personal contacts? 5. can the process allow you to threaten and take a decision on the customer's personal decisions of marriage? We have had to take police intervention to protect customer's mother from any form of forced sexual abuse and in this case "rape" by collections team. The above defined behaviour has caused tremendous harassment and complex psychological disturbance to all in the family Need a revert asap! The case has been brought to notice to the Kolkata HQ in Kotak and I have personally visited for a resolution. The case then involved an intervention from the Supervisor of the Collection team, from where the calls were made - Mohit Mallik who provided us with the attached documents. Infact I am now concerned of my personal safety since I am highlighting these issues. Considering the route the Kotak Collections team threatens to take to collect money, my personal safety and well being is of concern. I am a woman who is writing this escalation mail and considering the route Kotak takes to retrieve money before due date, I am scared. I would hope the senior mgmt. team would atleast assist and help in this regard as well.

Hello, My name is Dharmesh Patel. I had applied for personal loan with Kotak Mahindra Bank on December 2011 and the EMI started from 10th Jan, 2012. Loan Detail: SPLN 13949 The concern to me is that while I was searching for loan from different banks at lowest interest cost, I was said by associate of Mr. Pinkesh Manharlal Panchal that the interest rate for a loan from Kotak Bank is 16.25% and hence I wasted my time and energy in providing documents and following up. But when I was sanctioned a loan of 3L, I was shocked to see interest rate of 18.718% given to me. I had rejected loans from other banks having 16.5% as I was getting this at 16.25% rate as promised. But then I had no other option to go with and had to accept the loan as I was in need and had no time to go to other banks starting from scratch. I am regular Kotak Bank customer using account from more than 4 years now, but this scenario has changed my approach towards the Bank. I really liked this Bank than any other but after this episode I have a bad taste of Kotak Bank already. Regards, Dharmesh Patel

sir, applied for car loan in the month of jun 13. one rep mr praveen came and completed all paper work and promised to waive off processing fee and interest rate will be 10.45% . and he has told to pay one EMI of Rs. 7665.00 in advance by cash. and your repay schedule will be in 59 EMI . after receiveng the schedule from KMPL it is in 60 EMI not 59. second intrest rate is 11.15% not 10.45%. he has taken Rs. 5245.00 as processing fee also .now mr praveen is saying i will not do any thing whatever you want to do doit i will not return a single paisa. so pse sir help me .

rp yadav

HI, This is anil. By mistake i transferred to 49000 to my credit card on NOV 14th. I raised a complaint regarding same thing on send the required documents on NOV 15th. I call to customer care on NOV 16 and no response. On NOV 25 again they come back to me and said that they want some more documents related to previous transaction. Finally i provided those documents also on the same day. After three or four followup emails i got cheque worth of 49000 on "ANIL KUMAR VANAMALA" which is not my correct name. Last name was wrong .I am unable to deposit that amount in my savings account. Again i called to customer care ask them to revert back through NEFT and i ask them why name was wrongly printed on cheque. They said that as per our records your name was ANIL KUMAR VANAMALA.. Then i said it's not my name. I request them to send via NEFT, but no response from there end. As of now 33 days.Still my problem not yet solved.

Dear Sir, I am NOT a customer of Kotak Mahindra Bank BUT I am recieving regular calls from one person who claims he is the employee of KOTAK MAHINDRA BANK. His name is Mr. Dipak Sharma. He regularly calls from the number [protected] at my home and in my personal mobile number and tries to mentally harass me and my family members. He says that my NEIGHBOUR (Mr. Partho Sengupta) residing at BD-329, Salt Lake City, Kolkata -700064, has overused his credit limit in his credit card and he is not clearing his dues. He further says that my name has been given along with the number at the time of issuing credit card as a relative. He says that Mr. Partho Sengupta is not picking up calls and not responding, so its my duty to either make him respond or I will have to pay. Mr. Dipak Sharma has been regularly unprofessional in his conversation and has called me "chor" (thief) again and again. I have tried to make him understand a lot of times that I am not responsible in any manner but he refuses to understand. In this regard I will like to clear these points.: 1. Although Mr. Partho Sengupta is my neighbour, I am not his relative. I have NO relation with him whatsoever. We dont even have talks for years. 2. Even after these calls I had contacted him and he confirmed me that he never gave my name or number to anybody. 3. Even if he is lying and he did really give my name and number, I have NO responsibilty whatsoever towards the liability because I never signed any document and gave no assurance/confirmation to the bank. I am not a guarantor. Please tell me which bank in the country gives a credit card or a loan just on the basis of name and number and not without signature and confirmation? If I take loan and give the name of Mr. Dipak Sharma and his number and then I dont repay, will the Bank disturb and harass Mr. Dipak Sharma? What a ridicule KOTAK MAHINDRA has made of the Banking System in the country? 4. Mr. Dipak Sharma regularly calls up at home and disturbs my family. He does not understand the basic Banking Laws. Just because they are unable to recover their dues from one person, it does not give them the right to disturb the neighbours to recover the dues. If I am at fault I am ready to face legal actions. I even asked him that whether they have my sign and confirmation as a guarantor. He replied "NO". That means even he knows I am not responisble in any way still he is trying to mentally harass me so that I help him to recover his dues. Dear Sir, I request you to look into the matter immediately and stop their employee from harassing me. Earlier I had faced a problem with another company and I took help of this site and I was glad the problem was solved within a week. This is why I have come again for your help again. If Mr. Partho Sengupta has done some wrong, they should catch hold of him and not harass the neighbours. Regards, Mr.Bimalesh Kumar Ramuka

My CRN is[protected]. I was levied annual charges of Rs 500 on my credit card. I was given the card as part of free corporate plan saying no annual charges. I never really used the card. This year when i was charged i refused to pay and after 2-3 months the same amount multiplied to Rs 1877(including all the late payment charges). I called the customer care and asked them to cancel my card and I was informed that all the charges other than the base charges of 500 had been reversed and also an approval was required to cancel the base charges. But on 9 december 2013 the kotak guys suddenly debited the entire amount of 1877 from my account. This shows how these guys make money. Please BEWARE

Dear sir

with referance to the above subject without inform me. my account have opened in kotek mutual fund which has no idia about this how opned it and this bank have transacted 1000.00 rupees from my accountwich has in Axis bank. Today one representative of kotak mutual fund staaf came at my house and he was trying to give me some of one thausend rupees but i coulden't accept this amount.So please give me judgment from this matter.

Thanking you
Ratan lal sharma
Patna, Bihar
Mob- [protected]

I Vishakha N. Dabhi Minor (father Navin J Dabhi), E-002, Gulmohar Complex Phase III, Viva College Road, Virar (West), Thane - 401303, Maharashtra, Mobile No. [protected], wish to lodge complain against Kotak Mahindra Bank, Opp. Viva College, Virar (West), Thane - 401303, Maharashtra, for wrongly (illegally) debited amount Rs. 1179.78 for not maintaining minimum balance to my above account. I am shocked how bank illegally debited the minimum balance charges. Please note that at the time of opening of the account in June, 2012, it was informed by the bank (by. Mr. Yogesh) that account of minor can be opened with ZERO balance so I had opened the same,

Financial loss, mental agony harassment. loss of time.

It is my humble request to do the needful for credit (reverse) the above charges to my above account on urgent basis.

Your kind co-operation in this regard will be highly appreciated.

Thanks & Regards,

Vishakha N. Dabhi - Minor
(father : Navin J. Dabhi)

Hi,

I have received a call from the number: +[protected] on 21/Nov/2013; 16:53

The lady said she is calling from kotak mahindra loans and some offer regarding a loan.

When I told her my number is registered under DND and I can complain against you. In a harsh manner she said you can go and complain. "Complain karo" what she said.

I am totally furious over this rude behaviour from your staff. I do not wantany association with Kotak Mahindra. If action is not taken against the lady I will take up the further steps.

I never expect such behavior from staff of bank like kotak. You are not doing any favour by providing any offer. You should also assess your staff's mental abilities before recruiting. That s a failure on your part. That shows the kind of Human Resource department you are having in the company.

Regards,
Ramleela

I had an ABN AMRO Credit card few year back, which was given for cancellation in 2009. After that, now in 2013 am getting calls from Kotak Bank, asking for payment towards ABN AMRO credit card which i really dont understand.They even failed to send me any details regarding the credit card like statement details, Kotak's authority over ABN Bank and so on. Its a major concern as someone has picked up my personal details from somewhere and is trying to misuse it. highly appreciate if someone can help me.

I am a customer of KOTAK MAHINDRA BANK / KOTAK LIFE INSURANCE and very badly unsatisfied with the working culture and services. As I was very much convinced by the advertisement of KOTAK MAHINDRA BANK flashed on TV and contacted to the nearby branch of my city, which is only branch in Meerut and around 25 Km from my residence but still i chose KOTAK for me and my family. I visit the branch and opened two saving a/c one with minimum Rs.50, 000 and other is of minimum Rs.10, 000 and also purchased two life insurance plans (Policy No. 02597540 & Policy No.[protected] At that time the executive assured us that you should pay the whole-sum only for first year than after it will be deducted monthly for the coming years, but after 11th month(of policy i.e July 2013) I got a sms and email from Kotak Life Insurance that you should pay the Annual Premium for the year. I immediately contacted the Customer Care (Tollfree Number) and they advice me to change the mode of payment from the city branch by submitting the cheque (Cancelled) and ECS forms. I did the same but that time branch is under shifting process and one of the executive received all documents (15 days before the policy maturity i.e August 2013) and assure me to take care the whole matter. But that day and now (Till November 14, 2013) we are continuously following the bank and the Life Insurance office but matter is still unsolved and because of the reason we have closed all the bank accounts. I also purchased a Child Plan (Policy No.[protected] & Recurring Deposit for my new born kid but now I want to withdraw this plan because of the poor services, fake promises and careless attitude towards customer. my conclusion about the organization which is not concern about the customer's present how will it care for 15 years. I fed up from Kotak completely and want my whole amount back as soon as possible. This money is not a big amount for the organization like Mahindra Group, but for us it is big amount. My submission is kindly appoint some good and genuine persons in your organization for its growth.

I hold Kotak PVR credit card on 21st Oct I received couple of SMS’es very early in the morning around 3:30 AM that card is used to make payment of Rs123.43, Rs.61.71, Rs.10699.96 and Rs184.52 at ECHST.NET, PAYPAL, LISA 33 etc. I was surprised as I haven’t shared my credit card credentials with anyone and I mostly only do internet transactions on IRCT only. I immediately called call centre and got credit card blocked. I also filed dispute form the very same day. Kotak call centre guys now don’t confirm the receipt of the dispute form yet, neither they comment on the progress of this investigation, they say they’ll take 45 days to investigate the matter. Obviously due I don’t trust Kotak bank, even if they find this was fraud they might collect money from me. I need advice is there a way which will save me from the loss of aprox 12k amount I dint spent without affecting cibil score?

Dear Sir My Self Pravin Parsottambhai Patel from Palanpur Gujarat India. I am having Kotak Bank Account my kotak bank account details is as below. Account Name : Pravinbhai P Patel Account No : [protected] Branch Address : Palanpur Branch, North gujarat India Pin : 385001 Mobile no : +91 [protected] I have Made NEFT on 01/01/2013 of Rs. 6100 to Gangadhar N Raut (Central bank of India nagpur Branch) but gangadhar has not received any credit. (please find an attachment) after that i visited central bank palanpur branch and discuss same problem, they told me that neft is credited to another person account amyan branch (MP) munnidevi account, central bank. 6100 rs is on hold in munnidevi account right now. i visited kotak bank palanpur branch gujarat so many times and central bank palanpur branch gujarat so many times but didn't got any solution Please do need full Please find an neft reference no attachment for reference Purpose

Kotak Bank deducted Rs.3370/80 from my zero balance salary account ( Account No. [protected] ) being the charges for Non Maintenance Charges . Bank never intimate, nor informed or not given any notification about these charges. When I objected illegal deduction of amount from my hard earned money, and raised the matter with bank officials and after lot of refusals bank returned 50 & of deducted amount i-e Rs.1685/40.

Hello, I took Kotak insurance in 2010(policy no[protected] and their client told i can surrender after 3 years.but now when i called kotak insurance customer care they told Kotak will charge 10%.This is to inform everyone not to believe on their representative as they don't communicate proper info even the important ones. they told i will be getting bonus etc but now i am not sure about this also. apart from this when i wanted to update Nominee (provided correct info but they wrote wrongly and still its wrong), and PAN it took my lot of time and energy and after 7-8 continuso mails and calls manage to update PAN card. Anyway i suffered a lot to update small information because their representative did't noted any information properly (except my name and DOB) and i won't suggest anyone to take Kotak insurance. Thanks Amit [protected]@gmail.com