Kotak Mahindra Bank Complaints & Reviews

myself gaurav goel residing at muzaffarnagar in uttar pradesh.i had applied for marksheet loan of amount Rs.5lac on 06/09/2012in kotak mahindraa finance one day danik jagran newspaper me add aaya sa loan ke liye mene usme diye number par call kiya number was [protected].he.asked me to submit amount of rs.-2550 charge of documents create by lawyer..i deposited in Mr vikram singh a/c no.-[protected] of punjab national bank.a/c on 7/09/2012. After that they told me to send scan copy of marksheet,photo, bank passbookcopy and one id in your email id- [protected]@gmail.com. i send all document in this email id.next day morning they said one message aayega from bank. one message coming that(dear customer your loan has been approved with 5 lakhs,please pay 7000 processing fee to your company regard-YES BANK) that mobile no.([protected]) then call him then he said he amount only bank security yeh return ho gayegi loan ke sath.then mene kaha mere pass only 6000rs. unhone kaha sahi hai then i deposited in same accont vikram singh in punjab national bank.after deposited unhone us din mera koi phone nahi uthaya.next morning phir unhone 8225 rs insurance he kaha.par mene pucha kaise insurance then he said if suddenly your death then amount recieved by insurance then mene only 5500 deposited in hdfc bank of dharmendra accont that said me. after that unhone kaha 10 minute me aapka paisa accont me aagayaed but evening me aa gayega but not. next morning mene kaha me aapka office dekhna chahta hu then he message me apna address(gmd tower,5 th floor near gleria chowk sec 14 gurgaon).then me gurgaon gaya waha koi office nahi sa aur mudhse mile bhi nahi.aur kaha ki orgit wale yahe hue hai.next moringf mudhe kaha aap loan ki sari formalty puri ho kuti hai.aapko m.D. SHAB KE SIGN KE LIYE UNKA EXPENSIVE 2% DENA HAI .MENE 5000 RS PHIR VIKRAM SINGH KE ACCOUNT ME DEPOSITED . KIYE .aur abhi tak 2 din baadf tak mrer account me koi paisa nahi aaya hai mene total 19000 rs ge diye hai plz help me im very poor.plz refund my money or loan

Dear Sir,
policy no.00301325
Sub: Fraud and change proposal form
I am very disappointed to receive unjustified report for above issue. I want to draw your Kind attention for below mention points to justify my view.
1) I am senior citizen and applied a single term policy on dt .21/12/2004 for Rs 1,00,000/- to insure my life and against that i has issued a cheque drawn on uco bank but for some reason my cheque was dishonored. After that kotak people told me to issue banker cheque against that cheque so i made a pay order on dt 17/1/2005 and hand over to kotak people without proposal form, pan card, and balance sheet.
2)When I have not received policy through post after 2 months, then i made complaints to customer care and kotka people for inquiry.
3) After 4-5 Months I received call from kotak people and inform me to collect the policy from brabourne road branch, Kolkata.
4)I reached the branch and collect the policy, after receiving policy document I saw that my proposal form has been change with duplicate proposal form and signature. Immediately i contact branch manger and inform about cheating then manger verify my signature and told me that signature is mismatched with pan card and he will communicate with RO and change the policy from multiple to single term policy.
5)As per manager advice i wrote letter for discrepancy in policy and hand over to manger with in 7 days, and he also inform that this policy can not cancel because as per 15 days overlook period is over. He verbally promised me that he will change the policy terms from multiple to single premium.
6)That above manger may be suspended or left and new manager told me to direct communicate to Mumbai Customer care and i lodge many complaints over phone and mail id, but my all complaints went to deaf ears.
7)I have not submitted any document with proposal form then i think that these all document(Pan Card Xeox, balance sheet, medical check up report)must be change from my old proposal with the help of Kotak Back Office People. The company has kept policy document for 5 months in branch and when they released their commission (app 25%) they inform me to collect policy from branch
8) The kotak people never appoint any officer or approach me regarding fraud Because they Knew that their people are involved and they all are suspended for this type if practice, If they appoint any officer and easily recognize the signature difference.
9) I had already approach Insurance Ombudsman for justice, but they replied that sale of policy is not covered under RPG rules 1998 and my complaints dismissed.
10) This is policy is not issued as per terms condition because Policy proposal form is not signed by me.
So I request you to looks in to above points and take signature expert view for false proposal form
Thanking You,
Manharlal Kothari
[protected]/40034508
[protected]@hotmail.com

Have purchased Kotak Smart Advantage Policy ( Proposal No. 01672080 / Clent ID No.[protected] with a condition of one time payment of premium.

now, have recd a letter with a cheque of Rs. 4000/- (against my premium of Rs. 40,000/-) stating that policy has been terminated for non renewal of policy.

infact i am eligible for refund of Rs. 40000/- with a intrest from the date of policy till to-day.

Request to take up with the concern authority and provide me justice please.

Navin Shah
M#[protected]

Deduction of amount without notice.

Sir/Ma'am,

I had a 'salary' account with Kotak Mahindra Bank. I left the company services around February and withdrew major portion of my account. Only a few hundreds were remaining in my account with Kotak Mahindra Bank.

Few days ago, I received an SMS that my account has been deducted with those few hundred rupees. On inquiring I learnt that for maintaining the amount below the minimum balance, a fixed amount needs to be deducted.

However, I have accounts in another banks like ICICI and they have never deducted my salary account even though it was below the minimum balance amount. I also learnt from somewhere that 'salary' accounts can operate in zero amount also and nothing can be deducted from that account. Amount can be deducted only with other normal accounts.

Plz tell me that what should I do and what are the rules and regulations for the bank set by the Government of India with regard to this? If I file a case then what are the chances that case will be disposed of in my favor?

Thanks. Plz reply ASAP and for sure!

someone named Sajid called me at my residence number[protected] on 28th August 2012 around 4 pm and misbehaved first to my wife and then me...they often call me on this number as we have told them that we dont want any kind of your service. He very rudely behaved and often called between 4 pm to 4:30, so please help us and do the legal process and check our phone details.
Kaushik bhagvanjibhai Modi, [protected] Jamnagar (gujarat) india

Sir,
At the time of loan executive who was doing loan said if I want loan at low interest rate I.e 12.5% (which was confirmed earlier), you have to pay one advance EMI. After disbursement of loan when I called their customer care they told me that there is no advance EMI updated. But from my HDFC BANK A/C two EMI's already deducted one on KMPL Name & one on another person name by cheques of same amount as of loan EMI & cheque no. Were same which was given to the executive. Sir, please help me out.

Thanking you!

Yours faithfully,
Vivek Singh Tanwar,
Mob.no.- [protected],
E-MAIL ID-vsinghtanwar.[protected]@gmail.com.

Hi,
This is my Kotak account number :Account No. [protected] & CRN No.[protected]BRANCH -ANNA NAGAR),this account is in my previous salary account but recently i switched to other company without communiaction they are deducted INR 529 for AQB Maintenance from my account now its zero balance.but that time i didnt maintain the amount even i having Zero balance they wont deduct anything.so kindly take this high priority issues then provide the favourable solution for me.

Note:I need the reason,deduction for 529/- ....

Regards,
Sathish Inbarajan
+91-[protected]

Dear Sir,

I have a account with Kotak Mahindra Bank Nagpur, my CRN number: 12368317, Account number: [protected].

Kotak bank charged me around Rs. 3000 without any notice or details. I have requested them and they told me that it is non maintenance charges. Still without any extra details I paid around 3100 in account and requested for account closure on 10th August 2012 (Service Request Number: SR#1-[protected]). I have taken the follow up after 15 days and my account was still in "Active" status. I called customer care and they said that because of signature verification issue, Nagpur branch has raised another ticket (Service Request Number: SR#1-[protected]) and my account will be closed within 7 days.

After 7 days when I looked into the account again I got Rs. 1123 extra charges. I again called to customer care and they said my closure ticket is pending (Service Request Number: 1-[protected]) and they will forward it to concern department.

I have also attached the net banking images which itself shows back discrepancies.

The Kotak Mahindra Bank is mentally harassing me from last one month or so and I need legal action against this unethical bank.

Thanks,

Nishant Shende

Without any intimation Kotak bank deducted my Rs 2700(approx) for AQB non maintenance.Also they didn't provide any information regarding calculation on how they deducted the amount Rs 2700.

My account no is : ([protected])

Dear Sir,

I released the payment on 19-Aug-2012 for the Insurance ID[protected], but the payment is not yet received by the company.
Please submit the slip so that payment is released to you. I have already mailed the slip to the Credit card company regarding the releasing of payment.

Hereby attached are the details of the payment I made to the Insurance company-New India Insurance.
Kindly release the payment, according to the details attached.
Sorry for the inconvenience caused.


Please look into the matter so that the issue is resolved as soon as possible.


Thanks & Regards,

Rajpal Kashyap

sir ,
i have purchase a new mahindra scorpio our loan finance in kodak mahindra finace company i complete our loan and mahindra finace company give me noc in my car but my civil report pending 8400 rs showing in so our check my civil report and correct it my reg no hr 57 2727 name madan lal s/o balmukand mandi dabwali i request plz correct my civil report
thanks

Sub. : Cheating & harassment by Kotak Mohindera Bank Ltd. in providing Insurance
Policy No.[protected] Not as requested ) in the name of Ravi Arora

Dear Sir,

It is a matter of great concern that one Executive of M/S Kotak Mohindera Bank Ltd namely Mr. Sandeep Sharma working in Sector-3, Rohini, Delhi contacted me & I had desired an Investment Plan with the following terms.

a) The premium of Rs. 3,000.00 will be deducted from my HDFC Account no.
[protected] on half yearly basis.
b) Plan should not be market related.

Mr. Sandeep Sharma get the documents signed for arranging the desired Policy. However, when the policy was not received after passing abnormal time & the premium was started to be deducted on monthly basis from my above Bank Account then through net banking, information was obtained. It was my surprise when I came to know that unwanted policy ( Premium on Monthly Basis & Market Linked) was issued by M/S Kotak Mohindra Bank Ltd. ( Documents & policy not received). The authorized person of M/S Kotak Mohindra Bank Ltd. i.e Mr. Sandeep Sharma used my signed documents for other policy which was never requested & not disclosed/elaborated at the time of taking the policy.

I did not receive any document /policy even after passing months together. But, when, I received the papers on dated 8th , November, 2011. , I immediately furnished cancellation request.

Form more than a one year, I have been continuously following up the matter with M/S Kotak Mohindra Bank Ltd. & details of a few mails are given below:-

S.No Date Mail to
1 21.05.11 [protected]@rediffmail.com
[protected]@gmail.com
yograj.[protected]@kotak.com
2 21.07.11 & 25.07.11 [protected]@rediffmail.com
[protected]@gmail.com
yograj.[protected]@kotak.com
& Grievance cell of Kotak Mohindra bank Ltd.
3 28.08.11 Pankaj.[protected]@kotak.com


But sorry to record that my refund amount rounding to Rs. 30,000.00 has not been made available to me so far.

In response to my above & other several reminders, the following reply was received on dated 05.09.11:-

 That the policy[protected] was issued to you as on November 28, 2009. The policy documents were dispatched to your mailing address as on November 30, 2009 by Blue Dart Courier vide AWB number: [protected]. The same has been received as on December 01, 2009. We have also sent you an SMS alert on your mobile number [protected] as on November 28, 2009 intimating you about the policy being processed.

 With regards to your request for the surrender of the policy, we wish to inform you that the policy cannot be surrendered within the period of 3 years. Further, we wish to state that you were offered a free look period of 15 days to go through the terms and conditions of policy.

In response to the above reply , I made my points clear in my mail dated 21.09.11 as under :-

 That first of all, I haven’t received any documents and any information on the message.

 Secondly, if the courier guys is made wrong delivery then its not my fault hence kindly show me the concerned documents where I have received the documents.

 Thirdly, I myself chased you guys for non receipt of the policy documents as soon I get the documents after chasing your guys for 9 months, I immediately surrendered the policy.

 Fourthly, if according to you guys ,I have received the documents than why they accepted and received my free look request.

 Your guys very well knows that its mistake on the part of M/S Kotak Mohindra Bank Ltd.

 I very well know that free look period is of 1 day & hence I surrendered it on the very next day on receipt of the documents.

In the latest reply of, M/S Kotak Mohindra Bank Ltd. dated 2nd July,2012 is as follows :-

“We regret the inconvenience caused to you and apologize for the same. We will investigate the matter thoroughly and resolve the same within 2 weeks. Request your patience & co-operation.”

As promised above after passing 4 weeks’ time, my refund which is about Rs. 30,000.00 has not been made available to me so far.


From the above, it is amply clear that chasing the matter for more than a year ,M/S Kotak Mohindra Bank Ltd. are not keen to resolve the grievance of their customers & knowingly misusing the hard money of the general public through unfair & malpractices.

Under the above circumstances, I approach your good office to take appropriate action against M/S Kotak Mohindra Bank Ltd. so that my hard money is refunded to me without any further delay.

Thanking you in anticipation,

Ravi Arora
B-5/25 1st floor,
Sector -17 ,Rohini
Delhi - 85
(M) +[protected]
Mail ID : [protected]@yahoo.co.in

Dear Sir,

I had taken Kotak Smart Advantage Plan (Policy No. : 01594881 Name Prafulla Ingale) by seeing Brand Name of Kotak Group by investing monthly 1,500/- since 14/05/2009. But, we are totally frustrated with the behavior and approach of Kotak Life Insurance Company which we have been never seen in our whole life, this kind of responsibilities and irregularities. They are trying to cheat us since 14, May 2009 when I purchased this policy.

At the time of purchasing that policy (May, 2009), the sales executive (Mr. Ravi Patil) of Kotak had given all wrong information and said that after 3 years, if you want then you can withdraw your policy and get your all invested money with good return (1500 * 36 months=54,000 + Good % of return) (I have purchased this policy due to this feature only which is told by the executive, and I had paid 1,500/- per month since May, 2009 to May, 2012). And after 3 years, I had been called and mailed to Kotak Life Insurance Customer Care he said that your one year invested money will be gone into Kotak Account and it will not given to you, I will get only 2 years invested money with 2% deduction also. I was totally shocked. This is ridiculous. Therefore, I am totally mentally, physically and financially harassed by the Kotak Life Insurance Company and decide to surrender the policy (Policy No: 01594881, Name: Prafulla Ingale).
When I said that your sales executive had misguided us regarding the policy and given fake/wrong information then Kotak’s representative said that it is not Kotak’s responsibilities for their sales person/team or executives and you should verify the things. It means there is no accountability and responsibilities of Kotak about their plan and policies and their Sales Executive’s. All the responsibilities and loss paid by the Customer only!!!

Even they delivered document to me after 2 years after many complaint.

I am in big trouble now I want urgent money for purchasing new flat.

Please do the needful.

I am distressed, It has been more than 6 mths i have been facing this awful situation.

I have swiped my Kotak Credit Card for 200 Rs. in December, for which i was to make payment in Jan, but in January date for payment was not mentioned, it was written as Immediate. I made payment, after that they have been sending me bill with added late fee and all other charges, i requested them to waive it off, but they have not.

I would call Customer care almost every week, but it can not be resolved. In month of April, they told me your case has gone to Collection department and you talk to them. I called him, he said i will have to pay atleast 300 Rs to resolve it. I said ok then resolve it, after that he never called back and when i called him he said will speak to you later.
In month of May i received mail, that money will be compensated from my Kotak Mahindra Bank, but no information received how much amount has been withdrawn. This month again i have received bill of 4,500 Rs.

Can we pls bring this to an end.

This has become a mental harassment, for 200 Rs we have to pay 4,500 Rs? Though i have tried all the possible ways ( i have email sent to branch manager & different authorities) but iin vain.

Pls help me out.

Rgds,
Vibha Singh

To,
kotak mahindra bank

All I want to ask from you is, WHY your "customer support" representative HUNG UP on phone without answering my question ????

YOUR customer-support guy instead of talking to me, he was talking to someone else and WITHOUT answering my question, he dropped the line, INTENTIONALLY( YES, intentionally) when I say I mean it. I could hear him clearly, he was talking about me with somebody which i didn't like it at all. He really pissed me off.

Is this the way you treat your customer ????
You guys should have atleast listen to someone's problem and issue even if you do not have any relevant answer. why don't you just say to me that not-to-call-kotak ?

Alright, I am not calling them again nor I am going to call them in future, forever.
Believe me, I will close this kotak account on 1st week of September for sure. [Make it count]

Now what I will do is, next week, I will block your kotak email, so I won't get your kotak's email anymore into my inbox.
AND will start using my HDFC a/c and on sep. will close this kotak a/c.
Next thing what I will do is, I will tell about this kotak's service to my friends, family, relatives and so on.... So they won't get kotak a/c.

you guys have lost one customer for now and others in future as well. : (
I am not writing this email to get some sympathy, apology, sorry or any kind of regret. I just want to inform you that what is happening in your organization. May be others are facing too. I do not want you to pull up my kotak account. That is why i am not emailing your from my registered email and not providing you any info.
Do not call me. Do not email/reply me. Do not ask for any information ever because i'm not a psycho customer.


Bad Regards
from Delhi

Unable to Get in touch with centre, more than 20 mints as coming " all the our customer care officer shall attentd to you shortly "
one request given for the balance transfer DD to deliver in my residence ...request given on 8th and they are committed to deliver it by 12th..
not delivered yet...and today call centre is not responding....CC account


Contact Number [protected] / [protected]
Name : Jay Ray

I have Opened Demat a/c with Kotak Securities in Three Years ago.
While Account opening, the executive named Mr.Balaji , This guy told me is Total Free of cost for Demat account, I received welcome kit and other information , but i never used online Trading Demat account, but Bank charging every year, This month also detected Rs 670 from my account..

i called customer care also they told to me it is not our fault, this is your fault , we cannot give you refund , so you have to submit cancellation form then after that we will not deduct the money from you account

Hi,

I had applied for NRI bank opening after going to Bank branch at Ahmendnagar Road. They asked me to submit all the documents and I did the same.
Even after 45 days the account is kept in freeze condition and still not made active. They are not even returning the documents sent to them. Initially I was in touch with Tanu Khurana at the branch who is of not much help. The person is not even responding to the queries now. I have written to the nodal officer twice and there has been no action from their end too. I want my documents back and the account closed.

Thanks

I swiped my Kotak Mahindra Bank Debit Card for Rs: 5544/-. But the transaction was failed because of "Unable to Connect Host" problem. But that amount was deducted from my account. After 2 weeks they have not return the money till now. I called their customer care, they launched one request and after 7 days they closed it. But the problem is not resolved yet.
I heard that there is one rule of RBI that bank have to return the unsuccessful transaction amount within 10 days, otherwise they have to give Rs:100/- per day as penalty.
When should I will get my money back?

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