Kotak Mahindra Bank Complaints & Reviews

AGGREEMENT NO. CF8184320


TO WHOMSOVER IT MAY CONCERN

MY NAME IS ANU JAIN AND I HAVE BEEN ASSOCIATED WITH KOTAK MAHINDRA BANK FOR ALMOST 8 YEARS DUE TO CAR LOAN. I HAD A SMOOTH RUNNING TILL LAST YEAR BUT I WAS REPEATEDLY GETTING OFFERS OF ANOTHER LOAN AGAINST MY CAR LOAN. WHEN I ENQUIRED ABOUT THIS SECOND LOAN I HAD ALMOST 5-6 CALLS A DAY TO TAKE THIS LOAN. I WAS PROMISED MANY THINGS BY THE ASSOCIATE LIKE PAPER FREE FAST LOAN, SAME RATE OF INTEREST, ETC. SAME PROCESSING FEE WAS ALSO PROMISED.

I WAS OFFERED THIS LOAN OF AMOUNT Rs.3,000,00/- BUT LOAN SANCTIONED WAS Rs.2,02,479/- AND ULTIMATELY RECEIVED IN MY ACCOUNT OF Rs.1,934,00/-. DIFFRENCE OF ALMOST Rs. 9000/-. WE DONT EVEN KNOW THAT OF WHAT THIS CHARGES HAVE BEEN DEDUCTED.

I WOULD LIKE TO BRING IN YOUR KIND NOTICE THAT I HAVE BEEN FACING REAL TIME ISSUES SINCE THE DAY I HAVE TAKEN THIS LOAN. MY HUSBAND AND I HAVE BEEN GETTING CALLS ABOUT THE LOAN AND WE HAVE MADE SEVERAL ATTEMPTS TO VISIT KOTAK MAHINDRA OFFICE BUT ALL INVAIN. NO MANAGER HAD A COURTESY TO MEET US.

ULTIMATELY DUE TO DIFFERENCE IN THE RATE OF INTEREST AND FAKE PROMISES WE INFORMED THEM THAT WE ARE NOT KEEN ON TAKING THIS LOAN BUT WE WERE FORCED TO TAKE THE LOAN. WE TRIED TO STOP PAYMENT THINKING SOMEONE WILL MAKE EFFORTS TO TALK TO US AND MAKE EFFORTS BUT AGAIN ALL INVAIN.

OUR CAR LOAN IS RUNNING ABSOLUTELY FINE BUT DUE TO THIS LOAN SOME EXECUTIVE CAME TO MY HUSBANDS WORK PLACE AND HARRASED HIM. THEY SAID THAT DUE TO NON PAYMENT YOUR CAR WILL BE TAKE BACK IN CONTROL OF THE BANK. PLEASE NOTE THE LOAN IS IN MY NAME AND I WAS NOT INFORMED ABOUT THIS INFACT NO NOTICE FROM THE BANK WAS RECEIVED BY ME.

AFTER MY CAR WAS TAKEN BY THE BANK WE HAD TO GO TO THE COURT TO APPROACH FOR JUSTICE. AFTER A WEEK OF HARD WORK WE GOT JUSTICE AND COURT ASKED US TO MAKE PAYMENTS OF A PARTICULAR AMOUNT WHICH WAS PAID BY MY HUSBAND THE SAME DAY. AFTER THAT WE WERE ALLOWED TO TAKE OVER OUR CAR BACK.

EVEN AFTER THAT WE ARE GETTING CALLS ABOUT THE BOUNCED BACK CHARGES FROM THE BANK.

I HAVE BEEN HARRASED EVERY DAY FROM SOME EXECUTIVE OR ANOTHER.

I WANT JUSTICE AND CLOSURE OF THIS LOAN ASAP.

MY ,MOBILE NO. IS[protected]. IN CASE I AM SUPPOSED TO MEET SOMEONE AND CLOSE THIS PLEASE CONTACT ME.

REGARDS
ANU JAIN

Hi All,

Am holding SB account(Debit Card) in kotak mahindra bank and this is Professional A/C so they said no minimum balance for this. Few days back INR 150 debited from my A/C. When I spoke with customer care officer, they said, it is for non-maintaining charge(Month of Feb 2013), I have to maintain minimum balance or need to withdraw more than 10000 from ATM.

After few days again they debited INR 246, when I check with customer care officer, they didn't give any proper answer, seems this also debited for same reason(for Month of Feb only). This time they said I have to do transaction INR 5000 in a month. When I requesting to forward next higher official to clarify this issue, they are not ready to do that. After keep on request, they have disconnected the call.

Am facing problem for Debit card itself, then think about credit card, Kotak Mahindra bank cheating people. Am planning to go for close my SB A/C.

Best Regards,
R.Mohan
[protected]

In NetBanking Term Calculator When I use Term Calculator for a scheme less then 181 days.
I had selected 1 month and 0 days.
It gives me a illogical error, some silly mistake in a BANKING SOFTWARE WEBSITE saying "Entered Number of months is more than Max months for the scheme[83312]"

If the scheme says 181 days why should I get error for exceeding maximum months if I have entered 1 month and 0 days.

I open Saving Account & De-mat account Before 6 month And there is no Interaction regarding demat account while they provide me all kit & code but they didn't suggest how to operate it after telling 5-6 times.I am very upset behalf of bank. either they closed my both account or refund my amount with interest which is in demat account which have no interest,they misguide me behalf of bank .please give me a favor and solve my problem.I didnot want to continue through kotak bank.this service is worst in jaipur.

Dear sir,
Your recovery agents nos are 43503609,45453023 not following rbi guidelines teach them rbi guidelines word by word.
regards
happy holi

Dear sir,
Please give them RBI guidelines follow law of land.your recovery agent nos are i think these are land line nos[protected],45453023.
regards
happy holi...

Hi,

My name is Dipti Mehan & I took a PL of Rs. 2,50,000 from Barclay Bank in 2007 Dec. I

paid my EMI's regularly for 1 year, after which circumstances were such that I could not

pay. This portfolio has been bought over by Kotak Mahindra bank now & they have been in

contact with me since 2012. I kept on telling them that I'm willing to pay but in small

amounts as I do not have a job & I'm looking for one. Time & again either my husband & I

have been out of job because of which I was not able to pay them, though my intention is

to settle the account. But the bank officials . Vinod from Pitampura,New Delhi, have been troubling me by sending police at

my house, obnoxious phone calls etc etc. I really don't know what to do....no way to go, i

honestly thought of committing suicide also as im super depressed & worked up because of the

harassment, when my friend suggested that i should write to you directly...Please let me know if you

can help me. I'm writing to you with a lot of hope. Thank you!

Shall await your response.

Regards,
Dipti Mehan

Dear sir

I have deposited in Kotak gold fund ETF in may'2011 while i was residing in chennai,But due to job relocation i came to hosur.I have to close my account with the Indian Bank(Ambattur branch).When i approached the Kotak office for refund of my mutual fund amount,i was told that i have to send the statement of my closed SB account since i have issued cheque to Kotak mutual fund from that account.So i have send them the copy of my SB Passbook.Then they told that i have to fill in the KYC modification form to update the details as per the central govt notification.So i have taken the KYC form and filled in all details and got attestation for the new ICICI bank account from the Manager,ICICI bank(Hosur branch) tamilnadu,as requested in the form,along with it i have also attached my latest LPG domestic gas bill for address proof duly attested by a public notary for authentication t still i am not able to get refund from them since nov' 2012 This process is going on. Kindly advise me to proceed further

Regards
Arun kumar.R
[protected]

i applied for kotak bank saving account on 4 feb 2013 . and gave a check of rupees twenty five thousand rupees to bank representative. i tracked my account for 10 days and found nil balance ,after complaining to bank i found out that my check has been lost somewhere by bank !!! but it was just beginning!!!
after apology by bank i gave them second check of rupees 25000 (SBI)and it was cleared in 2 days (to my great relief )but than twist in story!
it is not reflecting in my kotak account after 7 days have been passed at time of writing this review .
great service !!!!!
CRN number is 61117716

Agent has informed that policy holder can withdraw the amount after payment of three premium,but on inquiry I came to know that Insurance company not paid full amount with bonus.I am required to pay one more years premium.Now,I want to know how much amount with bonus receivable by me on closure of policy.

I got a threatening call from your company ([protected]) at approx. 12:25 afternoon regarding my outstanding of Rs.4000 which I don’t know also where & when it was due. I am so disappointed from Kotaka Mahindra Prime Ltd which is a responsible firm is involve in such illegal activity for which I will be forced to pull you in front of media & police.

Regards,
Viral Gandhi

Hello,

I want to file a complaint against kotak car loan.
I have had enough from Kotak. Enough of harassment and unfair charges.

I have already sent them my concern 3 times now, because of their lack of attention they closed my account - they helped with a car loan and opened a bank account with them, which wasn't ever opened. They did not have my correct address on file, even though we provided them with rent agreement which had our correct address. Their Representative did the address verification at wrong address and they approved the incorrect verification, delivered all correspondence which the family staying there did not accept. They took everything back, I got a call from somebody from kotak, saying that they need to deliver me stuff and needed my address.

I gave them the address not once but twice, twice they took down my address but nobody ever showed up and my account was closed, was there any fault of mine?? Then we went to sector 14 gurgaon branch which is 10kms away from my place, I raised the issue to them to which they tell me that we don't need to come to their branch next time and kotak bank loan branch will call us themselves and collect the installment.

Next month again, I got a message that my installment was due, we called up gurgaon sector-14 branch where we had gone to deposit the previous month installment, but there was no response and we again drove 10kms to check with them what was going on, we again raised the issue with them, They again told us the same thing, I called the kotak number their rep told me that I will receive a callback from kotak and they will help me. No call was received, then I wrote them an e-mail, this time somebody called me and said he would come down to my place and I should be ready with few cheques, they took down few cheques along with a cheque of 564rs from my husband which was the charges to shift my account to another bank for ECS so we don't have to go to your branch every month, I should not be paying them even a single rupee extra infact I should charge them for the harassment I went through with them. Now the representative who came down and collected a cheque of 564 and 7 more cheques of my installment amount said that my EMI has bounced and I will be charged 600rs more.

I have had enough of harrassment by them and now they are charging me thousand of rupees of no fault of mine?

My husband made a mistake and gave you a cheque of 564rs which I am already pissed at. But I wont take it anymore.

They have already debited my account of 564rs which I was not supposed to pay and now they are demanding 600rs extra charges because of bounced installment which was again not my fault, because I had been following their instructions only.
When we called back the rep who told us that somebody would come down to my place to collect the cheques, he said we did not have to go to the branch and he would collect the cheque from me and there would be no problem. and now when I have done everything they suggested they are going to charge me for what? For doing as told by kotak employees.

I want to file a harrassment case against them if they do not resolve all my issues.

Rajni

I have recharged to My Mobile on the morning of 15th mar 2013 through kotak Mahindra netbanking Interface. The amount of 100 Rs. has been deducted from my balance but the Recharge is not credited to my mobile No.

Details
Mobile E Top Up of Rs.100
Mobile Operator - Vergin Mobile
Mobile - [protected]
Txn Ref No. [protected]
CRN 57699948

Kotak Mahindra Life Insurance says that they cater only to HNI Clients and charge premium for the same so that only HNI Client can be their major customer.While taking the policy their marketing team run pillar to post at the client end to convince him to take the policy but their return under the ULIP Plan is currently not up to the mark as they promise to the client and when the client desires for the surrender of the policy they ask each and every member of that HNI Client who has taken the policy from Kotak Life Insurance to personally present themselves at the Branch for surrender of Policy. Note that even the acceptance of authorization letter given by the Client in favour of his employee or in favour of the advisor in Kotak Life Insurance is not acceptable by every branch of Kotak, more so in Kolkata.IRDA HAS TO SAFEGUARD THE INTEREST OF THE POLICYHOLDER SO THAT THEY CAN'T FACE THIS TYPE OF HARRASEMENT IN THE FUTURE.
- Victim of Kotak Life Insurance

i receive bill of rs 1746 in the name of c.p.p. whenever i have not used the credit card since more than one year . I also not given consent for continuation for membership to any company . I have also asked by the authorties of kotak mahindra bank that if I had not used the card for six months the card will automatically deactivated.

Please send us account statement every month in my E-mail ID

E Mail ID - [protected]@rediffmail.com

Plan - Kotak Smart Advantage Regular (UIN-107L043V01)

Policy no.[protected]

Cust. ID[protected]

The transaction was not processed Rs.2000/- twice which later amounted of Rs.4000/- on the 7th of March, at 8:38 PM & 8:39 PM from the B Cabin Road, Navre Nagar Branch from the Customer Relationship ID[protected]. Inspite, of the failure in the transaction, the cash was deducted as I received a message in a short span. Kindly see to it that the amount mentioned above, should be credited as soon as possible.

In 2008 i took policy from Kotak Mahindra for futher plan as explained and follow up done by there executive . In the whole policy i paid Rs.60000/- and today they have suddenly closed my plan without my consent and approval neither there executive called or attended to explain why they closed my plan and by courier they have despatched Rs.55000/- as my policy actual amount as return after 6 years i.e in 2012.

i have a serious concern after complaining to the appropriate authorities of government , suo motto they are not taking action on this , i do believe Kotak bank and other schemes are doing fraud with the help of the controlling authorities in india as to how is that everything is happening under the nose of the authority and no action is taken against the culprits. I lost almost Rs.5000/- and precious time of 5 years with these stupid buggers.

I truly believe that instead of consumer beaware there should be strong imposition of Sellers beware in the economy as this gaint frauders are increasing day by day by spreading corruption and insider trading in the country. Moreover in the name of jobs they hire people to abet individual to fall in there trap.

KMPL Customer Service,

I have applied for Inter State/City NOC on 20the FEB, 2013 against my Loan A/c no# CF-8724036 in Laxminagar Branch. I am asking for thee NOC to get my vehicle to my Permanent Address which is already theere withe KMPL.

I have provided relevant documents and theat too withe Passport copy. I have been told theat it will be processed withe 3-4 working days. I am continuously following up however still by 28the FEB, 2013 I have not got NOC.

I have been told by KMPL theat two FIs (Field Investigations) are required. I am not convinced as if I have provided withe Passport copy and still you are taking theis much time to issue just an inter-state NOC? I should not mention what it takes (whole procedure) to get Passport in INDIA.

I have already visited two times KMPL Laxminagar Branch. Please act upon quickly as it is hampering my schedule to get NOC from Gurgaon Transport Autheority. It will again be a different story to get NOC from Transport Autheority.

Regards,
Sachin Gaikwad
+91-[protected]

My name is Goutam Debnath and live in pune (Maharashtra) I have taken two wheeler loan from HDFC Bank i have cleared my loan and I gets a “NOC” from the Bank and I gets Credit cards from Kotak Bank and I using it last 6 month’s after using the card I have paid all dues payment… and after paying the amount the Bank put my name in to the CIBIL… why Bank put my name in the CIBIL……
I strongly feel All the Bank are fraud….. the banks to update CIBIL about the closure off the loans and credit cards when the customers pay all the balance and close their loans and credit card dues. The bank should give the customer "NOC" immediately after he clears all the dues and at the same time the customers name should be removed from deaulters list of CIBIL so that the person will not suffer in getting other loans like home loan. I feel that the cooling off period for the customer in CIBIL should be less. If the customer is clearing all the credit balance and making it zero then it is the duty of both the bank and CIBIL to remove his name from the defaulters list. I again request CIBIL to help such customers in removing their name from Defaulters list if the customer has paid all the credit amount and gets a NOC from bank.
It is my humble request to the Person who are working in CIBIL to update the status of such customers immediately as the customer has paid all his dues and got a "NOC" from the bank.
I did some study regarding CIBIL, form where i got the info that only financial institutions have got the access to this database.General Publics dont have the access to this restricted area.I want to know why.I must have the right to know what was my fault or is some one cheated me.

What to do now please suggest me...

Best Regards
Goutam Debnath
Mobile: [protected]
Email id :- [protected]@gmail.com