Kotak Mahindra Bank Complaints & Reviews

Dear Sir,
I ( Kalpana R Nerkar ) Had purchased kotak head start future protoction plan , policuy no 00836735 ,on 04.01.2008 , in this plan I had to pay Rs.25000/ pa for three years , I had paid my last premium of 25000 / in delayed period , during this time my sales manager had given me pressire that you pay balane amount of Rs 25000 / to complete your policy amount other wise your policy will lapse & u will not get amy amount which u had paid ,considering this statement ofr our sales manager we had paid balance amount , now we had paid fullpolicy amount of Rs 75000 / to kotak
Now I am in need of my this full amount because of my personnel urgent work , i had demanded my sales manager to give statement of a/c this payment of Rs 75000 / , he had denied to give this a/c from last one month , when i had force fully demanded , he had given me statement , saying that you are eligible for only Rs 50000 /
By looking after this statement of a/c i was shocked that i had paid Rs 75000/ , I am geeting only Rs 50000/
This tataement was not explained by Sales Manager of Kotak life Insurance & behaved with me Aragontly .
Now i need my full min amount of Rs 75000/ , which i had pad to the kotak.
I was shocked who has made him sales manager of kotak life , who dont know about life insurance and making fool to the customer like me .
I had enquired about this fool sales manager from the market , he is famous for making fool to customer & never explain to customer in depth before starting the policy.
If possible kindly terminate this type s of fool sales manager who can remove the name of kotak life insurance
Kindly pay my min amount of Rs 75000 / as soon as possible

Name of Sales Manager :: Mr Vinods Wachida
, Kotak Life Insurance NAGPUR BRANCH , Maharashtra
Mob No : [protected]

Name of Life Insured : Mrs Kalpana R Nerkar
Policy No : 00836735
Plan Name : Kotak Head Start Future Protection (UIN -107L037V01 )
Branch Code : NA1W Mob No : [protected]
Kindly do the need full , grant me full amount of Rs 75000/

Regards
K R Nerkar

my credit card bill is not per the condition documents. As per condition document the bill should have 10% less as per the current. but it is not in bill.

even on enquiry i didn't get satisfactory reply from the executive.

my card number is [protected]

i sunil gupta have received a loan amount of Rs. 106667/-only at dated: 31 Aug. 2011, but sanctioned amount is Rs. 121582/-. from the bank. I called multiple times continuously to the concerned authority manager Mr. Yudhvir(Ph.No. [protected])& Mr. Nitin Arora(Ph. No. [protected]) Branch in Laxmi Nagar (Kotak Mahindra Bank) but he is not responding to me. I am continiously paying the monthly EMIs. Sir Please help me to recover my balance amount. I will be very thankful and obelize to you.

Sunil Gupta (Ph. No. [protected], [protected])
Loan A/c No. CF7210792.

I recently came back from US and started working with a company based in Bangalore. They opened my salary account with Kotak mahindra bank. And I never knew this is going to be a most painful experience of my life.

I received my welcome package which included my Debit card and Cheque Book from the bank on December 14th. That very moment I realized what mess they have made. They have made several mistakes in my details. Below is the list of mistakes.

Name on Account: Amit Chaunan
Actual Name: Amit Chauhan

Email Address on account: [protected]@heurion.com
Actual email: [protected]@heurion.com ( Was the guy drunk who made these mistakes or probably hung-over from last night )

Mother Maiden Name on account: Their executive did not provide me the one on account but said it didnt match the one I told him for verification.

So, I had almost all my information wrong on my cheque book, debit card and almost every where possible.
I have my salary cheque in my hand which I can not deposit since it will not match the name on the account.

I raised a request with their customer service department immediately and received a query number

1-[protected] raised on Dec 14th 2011.

I kept calling them every day to check what they are doing regarding the mess they have created. And they keep stalling me from one day to another.

Nothing happened and my frustration rose. Finally on 21st December they woke up and corrected my information on the account. I was glad.
So, it seemed that everything is fine now I decided to deposit my salary cheque almost when the month was about to end.

I deposited the Cheque on Dec 21st at around 7 pm at Kotak Mahindra Bank ATM located in NGEF Colony, Bangalore.
The cheque was also of Kotak Mahindra Bank and both the accounts are at the same branch. Today is Dec 27th but i can not see even a single penny account. The transaction which is supposed to take only 48hrs has taken over 7 days without any result. I wonder if they have lost the cheque also. I would not be surprise though.
I raised the issue with Customer Service of the bank on 26th Dec 2011.

While I was looking for my cheque to come through I realized that I never received my Debit Card pin. When I called customer care of the bank they gave me a tracking number of the courier company. This is something much more messed up then before.

Tracking number they gave me was: [protected]

For Velocity Courier Company.

When I checked the status of the shipment with company I found that this tracking number belongs to Mr. Shetty and his package has already been delivered.

After trying myself with the courier company for hours I somehow managed to locate my package.
The actual tracking number : [protected]

When I told the bank about it they acted to ignorant and dumb that it’s not even funny. They even told me that my package has been delivered to Mr. Shetty which seriously made me wanted to kill the person on the phone.

The courier company is not very active either, they have been stalling me for days as well but what can you do about that they are no Fed Ex or UPS.

Its been 22 Days since I received my Salary Cheque and 16 Days since my account was open, I haven't been able to use even a single penny out of that and it does not seems that I will be able to any time soon either.

If Kotak Bank thinks that they will resolve everything and it will be alright and I am sorry. I am social media activist and will do whatever it takes tarnish the Banks public image.

I have already created the facebook page name "Kotak Mahindra Bank A Fraud” and I promise will make it Viral by this weekend.

http://www.facebook.com/pages/Kotak-Mahindra-Bank-a-Fraud/[protected]?sk=frienda...⇄

Regards,

Amit Chauhan
[protected]

I think cheque book is free with some private banks like ICICI. But in case of Kotak Mahindra Bank this is not true as I am having corporate salary account with kotak. I had requested for issunig a cheque book and they chagred me for issuing this cheque book.

Customer care executive said that this can not be reversed. I have not requesetd a single cheque book till account opening (more than one and half year).

This is not for some amount but to highlight this as whether we have to continue with Kotak or not.

Date : 21.10.2011
KOTAK URJA
K #378, 10th Cross, 4th Phase, Peenya Industrial Area,
Bangalore - 560 058 Karnataka
[protected]@kotakurja.com

Sir,
Sub: Leaking complaint of solar water heater tank
We have purchased 2 units of Kotaka solar water heating system from your Hubli dealer M/s. Champion Solar Systems, B-7, C Block, Revankar Complex, Vivekanand Hospital...

No Response from Kotak even after sending a e mail

This refers to the loan taken from Kotak Mahindra purchase of my second hand car (Maruthi Swift - 2007 Model) from Toyota Trust, Bangalore.

Car purchase was finalised for Rs. 3,70,000/-. I had made the down payment of Rs. 80,000/-. Balance amount of Rs. 2,90,000/- I had opted to take loan. As per the discussion had with Toyota Trust during the purchase of car, they had promised me to give the interest of 15% reducing or 10% Flat for the loan amount of R.s 2,90,000/-

Unfortunately, the agreement copy was delivered to me very much late. But when the loan agreement was received, I was surprised to see that a flat interest charge of 20.8% was charged on me. This is pure cheating. Never expected this from a trusted company like Toyota Trust or Kotak Mahindra Prime.

Request your help in resolving the issue.

Loan agreement details:

Kotak Mahindra Prime
Agreement no: CF-6813425
Agreement date: 31/03/2011
Loan Amount: Rs. 3,03,775/-

Thanks and regards,

Pradeep Kumar M
[protected]

I have a personal loan with Kotak bank. While taking the loan, I was informed that I will have online access to my personal loan. I have been mailing to Kotak bank representatives for last 3-4 months but they didint cared to reply to my mail.

When I wrote to the nodal office, finally the personal loan executive woke up and looked to my issue. But they failed to fix the issue I was facing in online access to my personal account.

Now since I was behind them for online access of personal loan, they replied "facility for net banking is currently not available for the entire personal loan customer" and closed the ticket.

Not a single good experience with Kotak bank in last 5 months. I personally feel that co-operative banks are better that Kotak as atleast they dont give false promises.

I HAVE SURRENDER OUR POLICY ( KOTAK MAHINDRA TAX SAVER - D, MUTUAL FUND) ON 2 NOV 2011 AT MATHURA OFFICE BUT NOT RECEIVE ANY AMOUNT AS ON DATE, PLZ SPRIT THIS MATTER AT THE EARLIEST , ANY QUARY - CONTACT OUR MOBILE.

REGARDS,
ASHISH GOYAL
H. NO. 3, SAKET PURI, MAHOLI ROAD , MATHURA-281004
MOB: [protected]

I HAVE SURRENDER OUR MUTUAL FUND (KOTAK MAHINDRA TAX SAVER-D) ON DATED 02-10-11, BUT AS ON DATE NOT RECEIEVE OF ANY CHECK/ AMOUNT.
PLZ CONFIRM THE STATUS.

REGARDS
ASHISH GOYAL
[protected]
[protected]@yahoo.co.in
Mathura (UP)

Hai All,

Myself Miss Sudeshna Mazumdar, a resident of Bally Howrah. I wanna make all o[censored] aware of a new strategy of Kotak Life Insurance Ltd. Let me begin with it when we have started to receive frequent calls from the company over our BSNL land line saying : " You have win an excellent gift from the company. Please visit our office and receive ur gift". They have taken lots of details from my Mom & Dad ( Both are sick and over 60 years of age), about themselves and almost forcing them to visit their office at Salkia together. Now, we have heard about an incident with the same company, where the same case has happened and when the gentleman over 82 years of age arrived the company office with his wife (Almost same age), they gave them one (1)glass plate, maximum worth Rs.25/ to 30/ and almost forcing them to sign one of their policy form. The same complain from the elder couple has published at Anand Bazar Patrika - "Sampadok Somipeshu" portion also before a couple of days. So, naturally my Dad said with very gentle manner that, " Listen we really do not require any gift from you, so please keep it with you". After getting that response, the lady was suddenly became very rude and disconnect the line very roughly. Well, we did not mind, we thought that may happen, after all the market is so competitive and may be that lady was in tremendous pressure to fulfill her target. So, it was ok. But it was quite surprising to me, when I receive the same call from the no - +[protected] on last Sunday,[protected] at 09.23 A.M over my personal Vodafone cell no. Exactly the same pitch, this time it was a gentle( ??? !!!) man. He was speaking with so recurring manner, I was just not getting the time to say even, Look i really don't require ur gift !! Well, after forcefully listening his consequent pitch without any gap still 5 minutes, I just replied ,, " Wait Wait, listen ... "; But the moment I said that, the person other side of the phone said like : "Wait? Why should I wait? Keep the phone" !!! I was just spellbound. He was so rude and almost commanding me !!! That was, I have to take their so called GIFT, by signing on their policy form !!!

Now, I really protest this as a citizen of India. I believe that the company does not have a single right to behave like this and I am not getting, since it is completely illegal now a days to selling the policy or product over personal mobile no, who the hell has given them the right to do that bull ?

The company is constantly doing that from past few couple of days, sometime over the land line, sometime over personal mobile no. So, I strongly applying the forum to take necessary actions against this kind of illegal and unprofessional behavior. The company does not have a single right to disturb the elder citizens by repeatedly calling them up and forcing them to take their policy indirectly.

Hope to have your kind attention.


Thanking you,
Sudeshna Mazumdar.
honey.[protected]@gmail.com

Dear All,

I have been cheated by Kotak Credit card division.

Following is a chronological chain of events
1.I recieve many calls in the month of August from the number: [protected] by the executive named Aditi who says that since i have a salaried account with kotak bank Kotak will give me a lifetime free credit card with 3 months EMI free without processing fee and without any charges as a part of the credit card offers specially for my company

I opt for the card considering the EMI facility

2. I make a purchase of INR 13720/- and call the call center to avail the facility. The call center says that processing fee will be charged.

3. I write to Kotak and am told that this offer was discontinued after 12th October 2011.

4. To add to my shock i recieve another call from the number [protected] offering me same features incluing free EMI
I would advise anyone opting for Kotak cards to be sure that they do not get cheated in a similar way.

Regards

Ajey

I have applied for my provident fund from previous company Kotak Mahindra Life Insurance co Ltd, and as per on line check, It is already submited in pf office at bandra office since last 6 month but they not released my PF fund, why I don't, Please look in to the matter seriously, details of my pf are as under,

Alpesh Rawal

Employee no 17987

PF no MH/45187/17907

Bandra pf office

Respected sir,
Here iam Dr. sreenivasa .s to register a complaince against sub broker named as kotak commodities services ltd,Thalapalli complex,beside corporation bank,office no.2,bangalore road,challakkere.pin:577522,ph:[protected] which is lockated on challakere in chithradurga district.All the details which regards this matter is attached here with this mail.so i expect&immediate and positive action from u r side to protect the investors/consumer interst and my hard earn money so that innocent investers can be saved.


With regards
Dr. sreenivasa.s
mob: [protected]

COMMUNICATIVE ADRESS

Dr sreenivasa s
M.N Dental clinic
Madakari nayaka circle
Sree Durgambika complex
Shivali road
davangere-577001
karnataka

dear sir/madam,

I have taken a policy from kotak life insurance dated 31/10/2008 of premium 1.5 lac, whose policy no.is[protected]Dilip Kumar Banerjee), with reduction the premium of next two year, but company do not this i.e.no reduction of premium. At the time of policy taken company says please don't worry for next two year, i shall reduced your premium up to 15000/- for next two year.i have given a request for premium reduction in the month of oct-2009 & i have also received a letter from company & according to this letter he says we are consider your request. when i visit the branch of kotak life ,kanpur , company's manager says your request are in process please wait for some time.Now, company says deposit 3.0 lacs premium before 31/10/2011, otherwise your 1.5 lacs is also lapse. so now i am requesting to you, please solve my problem & return back my premium or reduce it up to 15000/-. waiting for your reply.

My Relationship manager (RM) from Kotak bank came with its insurance advisor and suggested me to invest 2.00 lakhs one time payment in Kotak Second innings plan as part of my wealth building exercise towards a long term investment.
Firstly, i have paid the amount and when I received the premium paid receipt, found certain incorrect details like nominee name, premium paying term etc. and informed my RM to take care before policy issue. With full confidence on the Kotak bank & its group , I didnot send a letter in writing.
2ndly received the original policy very late after payment (approx.2-3 months time). Meanwhile, I logged into KLIFE website using my customer ID & policy no and raised a complaint on above incorrect details and also stated non-receipt of original bond. This complaint was within in 2 weeks of premium receipt and before even receiving the bond. KLIFE cud have corrected all these discrepancise before issuing the bond. but they didn't do it.
Their response is like IVRS message & stated this is as per application form etc.
Frankly, the form was filled by the agent from kotak and my RM. I have only believed them and signed it. I have been repeatedly chasing since 1 year and many officials from KLIFE visited me & assured that they will take care. But to my surprise, recived renewal notice immediately after one year. I raised this to KLIFE and again same pathetic response. I am totally un-happy customer with Kotak.
Please advise when will I receive my 2.00 lakhs premia paid and why KLIFE doesn't take responsibility of errors in their policy even after highlighting by customers? What action can we take on the agent who done a wrong selling of policy to me. pls help as klife is still chasing for
Regards, Surendra
[protected]@rediffmail.com

DEAR SIR,

I HAD APPLIED FOR LOAN AGAINST MY PETROLEUM TANKER REG NO CG 10 Z 1391 WITH KOTAK MAHINDRA BANK LTD. IN THE MONTH OF OCTOBER 2008 . FOR CERTAIN REASONS COULD NOT AVAIL THAT LOAN BUT HAD SIGNED APPLICATION FORMS FOR THE LOAN.
I DID NOT AVAIL ANY LOAN AGAINST THIS VEHICLE STILL HPA IS INCORPORATED BY THEM ON ITS PAPERS . SINCE LAST TWO MONTHS I HAVE APPLIED FOR ISSUING NOC AGAINST IT FOR WHICH THEY HAVE NOT TAKEN ANY APPROPRIATE ACTION . THEY HAVE BEEN CONTINUOUSLY DODGING ME & ARE NOT ISSUING NOC TO A CASE IN WHICH NO LOAN HAS BEEN TAKEN FROM THEM.
I REQUEST YOU TO INTERVENE INTO THE MATTER AND GET IT RESOLVED AT THE EARLIEST;.

Dear team i have taken a SIp from kotak on the name of mr rakshit goyal rep by deepak goyal folio no 1880833/88 and same i have given docoment for this date of birth cerficate name written rakshit goyal.
When i saw my statement is comming on the name of daksh goyal rep by deepak goyal i went for redimption after a long time discussion (aprox one month) you were agree to redim it than bank refuse to taken money on the name of daksh goyal because given ac no is also name of rakshi goyal.
It is done only from your mistake but when discussion with phone with your costmer care ex i was agreed to change name in your folio but mean while you send me Payorder on the name of mr Daksh goyal rep by deepak goyal which is worthless for me.
Now i am loosing my money and interest and i am now also not able to any kind of formility but i need my money as soon as possible.

Thanks and regards
Deepak goyal
[protected]

Dear all,

Account No:[protected]
Kotak Executive had opened the account around 3-4 yrs back stating its a zero balance account and there wont be any chages on the MIN. balance etc. I have done some transaction initially then i have stopped maintaing this account. After some time i am started getting messages from the Kotak bank regarding to the charges and all and every month they have levied some charges, i have ignored this messages and though the account will close automatically, few months back i have got the message that my account got zeroised and i thout i got closed.

I have given this account no long back to one of the MF-FMP scheme and that FMP got matured and that account has been credited of Rs. 17600/- while i went to the bank for the withdarwal of this amount i came to know that they have freezed my account stating they are going to revcove the un-ethical charges of the Non maintance of the account.

I would need your help in this matter as i am into the urgent need of money for the treatement of the my mother who is suffering from the cancer.

Regards,
Apurva

Dear Sir/Ma'm,

1. This is regarding non receipt of Form G.A.R.-7 Service Tax Payment. It is intimated that on 08 Oct 2011, form for Tax Payment Request Form (Service Tax and Excise duty) duly filled in alongwith a cheque bearing machine No 001408 for a sum of Rs 38,728/- was handed over to Palam Branch(same attached with this mail), which was slated to have processed on 10 Oct 2011. The amount in question has already been debited from my account, but despite complaining at call centre and with the Bank relationship officer Ms Akansha Ahuja several times, nothing fruitful could be done at ther end.

2. Service tax return is due in few days and with out the above stated document, same could be lapsed. You are kindly requested to look into the matter to resolve the same at the soonest please.

with warm regards

Yours sincerely,



(Mahesh Yadav)
Authorised Signatory
Raman Travels