Kotak Mahindra Bank Complaints & Reviews

Kotak Mahindra has been sending sms to me to pay the dues against credit card a/c no. xxxx9189. But I have not received the said card from the bank. I am in possession of Trumpth card of the same bank bearing no.[protected]. Recently I found that the card seems to be inactivated. On 8th april 2011 I have issued a cheque for Rs,655(approximately). But as per the bank (KMBL) the cheque is returned unpaid to them. But my banker i.e.Andhra Bank informed me that the said cheque is not presented to them for encashment.
Some time back the officials of KMBL sought my permission ovwer phone to upgrade the credit card to next level and asked me to pay some amoun towards fees and the same was paid by cheque refering my exisiting card number.
My point is that why I should pay dues against the card which I am not possessing. If the KMBL is not interested they are at liberty to close my account and settle the dues if any.

Thanking you,
Yours friendly,
B.V.Durga Prasad.
Hyderabad.
[protected].
[protected].

I opened a current account with Kotak in january 2011, so far I have not recd the net banking password or the atm pin. I called them several times by now. When i called them first time they said my mobile number and mail id are not updated, so i updated them. Can i get my password now?, they said they cannot issue the password till next 30 days because the mobile number has been recently updated. What a joke.!!...Wait for 30 days to get the password and that too today where every other bank is doing it in click of a second...and on top of that mine is a current account of professionals ...I asked do i have any other option..Yes sir, u can submit a request for password to be sent by courier...I placed a request for that..I got a message saying ur password has been posted the next day..It has been 1 month since..I have not received anything...I called up again...this time they told me some other story...sir u can generate the password online...I am doing the same since last 3 days but to no avail...its been almost 3 months now that i opened my account and i do not have my atm password or the net banking pin...This banks policies are very very wierd and difficult to understand...I hope i had never opened kotak bank account....

Hi,

This is to inform you that I hold a Savings Account with Kotak Bank, account number: [protected].
I see that an amount of Rs. 827.25 has been debited from my account, with the narration 'Non-Maintenance charges' on 01/04/2010.
Now I have a Linked Deposit account [protected] for Rs.13000 and hence my Combined Total Balance had always been above Rs.10000 which is the minimum balance for the maintenance of an account. At the time when the Deposit account was being opened, the customer care executive had informed me that since I have a linked Deposit account, the Combined Total Balance is taken into account for minimum balance calculation. As I had a total of Rs.13000 above as my Combined Total Balance, I never maintained an additional balance of Rs. 10000 in my Savings Account. I was surprised to see this morning that I have been charged for non-maintenance of account balance.
This is complete Customer harassment. I fail to understand why Kotak sells such incorrect information to the customers and later charge them this way. This is not the only time I am having an issue with Kotak for such misguidance. I want this amount to be reversed to my account ASAP.. They cannot take their customers for granted and charge them unnecessarily this way. This is Fraud and they should not get away with this easily.
Also I have not been receiving any physical statement for my account and even after repeated complaints, nothing has been done. I had already communicated to the customer care that I have limited access to Internet. And see what the outcome is. I get to know that such charges are levied to my account without my knowledge.

Dear Sir
I have a complaint against Kotak Life Insurance Company Ludhiana Branch Some months back i took two policies one Single Investment for Rs.1, 50,000/- and another against Money Back policy for Rs.50,000/-After some time I received policies but to my astonishment the policies were issued but were totally wrong, the policy Rs.50,000/-was in single investment and Rs.1,50,000/-in Money Back, immediately I informed the company regarding their error and requested them to cancel the policies and refund me an amount of Rs.200,000/- They agreed in principle and requested me to wait for a fortnight. In the mean time I had to go abroad and after ten days my family informed me that two policies have come from Kotak Life Insurance co. i was shocked to know this and immediately I contacted the company and gave good thrashing to them they became very humble and promised me to wait for another fortnight for cancellation of the policy and refund of amount and also told me to return the policy bonds through their Srinagar counter I asked my family to deposit the said policies in the company. When I came back from my tour after twenty days I immediately contacted Ludhiana and enquired about the refund money of my two cases and they informed me that policies have not come back from Srinagar I rebuked them and after that I straightly went to their Srinagar post who informed me that policies have not been sent without me any way they dispatched the policies not through their agency office but from me and not to the address of the company but to some officers residential address, I asked them why you are doing so and avoided me and asked me to pay the courier charges, then after four or five days I contacted Ludhiana office who categorically refused that no policy has been received by them, I readily contacted Blue Dart office and after seeing their records they gave me the full details of the consignment that had been dispatched from Srinagar on 06th of April and delivered at Ludhiana on 08th of April and received by a lady not working in the office, I got irritated by their irresponsible attitude and and also there was no fun to follow them as that would be a futile effort .so I request your good offices to take the matter to its logical verdict.
Thank you sir and I remain

had applied for a Kotak Credit card after a lot of bugging from the customer care of the bank. I submitted my Pan card xerox along with with a passport photo to the bank executive.

From the date of submission of documents I started checking the status online and it always showed "Being Processed". After two weeks I called up the bank's customer care onyl to know that my application has been rejected.

I demanded a reason for the rejection but the bank's executive said that the verification process failed whereas I didnot get any verification calls or anyone in person to verify my details. He politely said that I receive an apology letter from the bank's side.

The private banks are doing their whims and noone takes any steps for the same. I request someone with authority to curb these menaces from these banks so that common man like me doesnot get harrassed.

This is regarding false promises made to corporate salary account holders by Kotak bank officials. We were promised a lot of facilities on my account during account opening. Later I discovered that Kotak had not created the right kind of account and the facilities I was promised like petro card, gold card etc were not activated on my account.

After a endless calls to call centre, customer support I am still not able to get a clear picture and commitment from Kotak Bank. Mr. Pratik Sinha who is suppose to be customer relations officer does not pick up calls and when escalated had called me once to request me to erfill some forms again.

This is not acceptable from a reputed bank like Kotak. Please do something to get my issue resolved if someone responsible is reading this.

Kotak after receiving the foreclosure amount against agreement no. STL-250041 subsequently further realised three EMIs from the concerned a/c through ECS. They are very reluctant to response and/or reply a series of letters furnished from this end. Only once I got a verbal assurance from the concerned personel Mr. Tapan Ojha after that it was very difficult to cross their office reception desk.

I had made a very big mistake by trusting Mr.Sunil (Territory Manager ) from Kotak life who had come to me throu some reference. I had purchased a life insurance policy throu him .At the time of issuing the policy i was told that as there is no collection centre of the company in our city they will provide me the facility and will collect the premium on due dates from my place but now as i have already paid 3 premiums (quarterly) they are troubling me a lot. After atleast 50 calls from my side there employee Mr. Saurabh collected a chq for the fourth premium from me on 09/03/2011 but till date my premium has not been cleared .Now i get a call from the company that they require some declaration from me. I have already paid them 15000/- now i get calls from them to convert my policy to some other plan. I am really fed up of all this stuff .

From V.JAYARAMAN
5/1090.B.D.O.VAIRAVANATHAN STREET
SENTHIL NAGAR
COLLECTORATE POST
DHARMAPURI-636705
Mobile: [protected]
TO
Complaints against Life Insurance Companies:
Mr. T Venkateswara Rao, Deputy Director
Insurance Regulatory and Development Authority
Consumer Affairs Department
United India Tower, 9th floor, 3-5-817/818,
Basheerbagh, Hyderabad – 500 029.
E-mail id: [protected]@irda.gov.in
Sir,
Sub: Complaint against Kotak Insurance Company regarding.
I wish to bring to your kind notice that one lady representative of one group telling that they are from Kotak Insurance Company branch of Salem, Tamil nadu ,had telephoned from telephone number[protected] that Kotak Mahindera insurance company is celebrating 25 th annual day and on account of the same they have selected 1000 telephone numbers from Dharmapuri Town (Tamil Nadu) and our telephone number [protected] is one of the lucky numbers to be awarded with a free policy of value Rs.1000000 one lackh and asked me and my wife to come over to one Lakshmi Kalyanamandapam in Dharmapuri.
We have gone there at about 12.30 pm on 13/03/2011 just to see what is going on there.
At the reception they asked us one code number which was told to us by phone from Salem Branch persons. I have revealed the code number and in turn they given us one form to fill up. We filled up the same and after wards they started telling the performance of and the statistical data about Kotak insurance Company.
Further they told that we were one among the ten couples who are selected for the free policy offer and we would be given a special policy called CAPITAL MULPLIER at
Cheaper rate and we should sign the papers on that day it self for an annual premium of Rs.25000/.
They were forcing us to sign the papers on condition that we should pay cash Rs.25000/or c heque the next day.
That was the incident happened on 13/03/2011 at Dharmapuri Lakhmi kalayamandabam.This is a criminal activity and should be taken up with the Kotak insurance company for forcing the innocent public to take their insurance policy under the disguise of free offer camps and trespassing into the house of public through their telephones.
As per insurance laws no insurance company could force any one take their policy against their will.
I request that the concerned Insurance Company should be taken up and punitive measures should be imposed on them
Thanking you
V.JAYARAMAN
21/03/2011

I had opened (unfortunately) Kotak ULIP on 9-Jan-2009. My Policy Number is 01460451.
During opening of the policy, One of the kotak representative Ms. Poonam Rohra([protected], poonam.[protected]@kotak.com) told me during opening of the policy that locking period is 3 years and after that amount can be with drawn at any point of time. But after 3 years I came to know that First premium can not be withdrawn as policy term is 3 years.

Now how can i retrieve that amount? She is not even responding to my e-mail and calls.

I was cheated by Kotak Representative/ Frauds

Regards
Sachin
[protected]

Customer Details.

Name : Sameer T I
Account Type : Salary Account - Tata Consultancy Services
Bank : Kotak Mahindra Bank
Customer ID : 31407939.
Account No : [protected].

Issue :

1. Had requested for Debit card PIN for both the debit cards in the month of Jan. Till date I haven't received.

Steps Taken : Have contacted Customer Service via phone, Sent them email. Also have spoken to 3 differenct SPOC for Kotak Mahindra Bank. Everyone assured that they will get back to me in 3 days and do the needful. IN about more than 2 months , I have only got assurance and false promise.

2. Had requested for Account statement in the month of Feb for which Rs 50/- for charged by the bank. Till date haven't received the statement. Same excuses given by the SPOC and customer service. But not response till date.

Email Sent : ranjitha.[protected]@kotak.com, service.[protected]@kotak.com, v.[protected]@kotak.com.
Also spoke to SPOC like Vipin, Anirudh but no results till date.

Please advise how to go about this.

ITS A COPY OF MAIL WRITTEN TO KOTAK BANK AND BROKER:

DEAR CUSTOMER SERVICE MANAGER ,KOTAK BANK
I HAVE AN ADVICE FOR YOU THAT YOU PLEASE CHANGE YOUR ADVERTISEMENT WHICH CLAIM THAT YOU ARE THE BEST BANKER AND BROKER IN INDIA, YOU ARE THE WORST BANKER AND BROKER IN INDIA, YOU ARE TOO BAD THAT NOBODY CAN BEAT YOU IN INDIA AS WELL AS THE WORST SERVICES ARE CONCERNED FEW POINTS HAVE BEEN GIVEN BELOW TO TELL YOU HOW GOOD YOU ARE IN THIS INDUSTRY, PLEASE READ COMPLETE MAIL:

1. I OPENED TWO ACCOUNTS WITH YOU, IT WAS MY FIRST MISTAKE.
2. MY PROBLEM STARTS WHEN I FIRST OPENED MY WIFE ACCOUNT WITH YOUR BANK VIDE ACCOUNT NO [protected] WITH THE NAME OF SHASHI VATS I , I COMPLETED ALL THE FORMALITIES FOR THE TRADING ACCOUNT AND BANK ACCOUNT BUT IT TOOK YOU TWO MONTHS TO OPENED MY TRADING AND BANK ACCOUNT WITH YOUR BANK. YOU ARE THE BEST BANKER AND YOU TAKE TWO MONTHS TOO OPEN A TRADING AND BANK ACCOUNT SO SAD, FIRST YOU SENT MY TRADING ACCOUNT KIT ON THE WRONG ADDRESS, IT WAS DELIVERED TO MY UNCLE’S PLACE NOT AT MY ADDRESS, I GOT IT AFTER ONE WEEK AFTER MAKING 20-30 CALLS.
3. I REQUESTED TO DO SOME ADDITIONS IN MY ADDRESS THAT WAS NOT DONE.
4. AFTER A LOT OF STRUGGLE I GOT MY TRADING A/C KIT AS ON 28.11.2010 VIDE DEMAT ACCOUNT NO 15536299 WHERE AS I HAD COMPLETED ALL MY FORMALITIES WAY LONG BACK(2 MONTHS).
5. I GOT MY BANK KIT AFTER TWO MONTHS BACK AS ON DATED 24.11.2010, YOU OPEN TRADING AND BANK ACCOUNT IN TWO MONTHS AND CLAIM ON TV THAT YOU ARE THE BEST BANKER AND BROKER.
6. AFTER A LOT OF DISCUSSION AND ASSURANCE FROM MR.IMRAN SIDDIQUI AND HIS MANAGER MR.DANISH AFSAR I HAVE FINALLY GIVEN MY PAPERS AND CHEQUE TO OPEN ANOTHER TRADING AND BANK ACCOUNT IN MY NAME RAJ KUMAR VATS VIDE DEMAT ACCOUNT NO 15617967 AND BANK ACCOUNT NO [protected], BUT THIS TIME ALSO YOU TOOK TWO MONTHS TO OPEN A TRADING AND BANK ACCOUNT, I GOT MY TRADING KIT AS ON DATED 16.12.2010.
7. AFTER MAKING 20-30 CALLS I GOT MY BANK ACCOUNT KIT AS ON DATED 28.12.2010, THAT IS WITH THE WRONG PHONE NO, I HAVE CLEARLY MENTIONED MR BISWAS THAT I HAVE TWO PHONE NUMBERS AND PLEASE DO NOT MENTION MY OFFICIAL NUMBER IN MY CONTACT NUMBER BUT AS MR BISWAS DON’T VISIT THE CLIENT TO OPEN THE ACCOUNT AND HE DOES ALL THE FORMALITIES ON THE PHONE ITSELF THEN HOW HE CAN PUT THE RIGHT INFORMATION IN THE FORM.
8. MR.DEEPJYOTI BISWAS JUST VISITED MY HOUSE FOR THE FIRST TIME WHEN HE OPENED MY WIFE ACCOUNT , AFTER THAT HE HAS NOT VISITED MY HOUSE, I WONDER HOW HE HAS PUT ALL THE REQUIRED INFORMATION IN MY BANK OPENING ACCOUNT FORM, MAY GOD BLESS HIM.
9. BY GRACE OF GOD BOTH OF MY ACCOUNTS HAVE BEEN OPENED IN SUCH A GREATEST BANK OF INDIA, BUT I HAVE TO WAIT TO GET MY DEBIT CARD PIN AND PHONE BANKING PIN , AFTER MAKING 30-40 CALLS TO MR IMRAN I GOT MY TRADING ACCOUNT PASSWORD FROM HIM BUT STILL WAITING FOR MY DEBIT PIN .
10. I THINK I WILL HAVE TO WAIT FOR ANOTHER ONE YEAR TO GET MY DEBIT CARD PIN AND PHONE BANKING PIN.
11. I THINK IT WAS MY MISTAKE TO OPEN AN ACCOUNT WITH KOTAK BANK AND TO CHANGE FROM HDFC BANK, HDFC BANK IS FAR BETTER THAN KOTAK. I HAD NEVER FACED BASIC PROBLEMS FROM THEM.
12. DURING THIS TIME I VISITED YOUR BRANCH 5-6 TIMES AND MET THERE WITH THE OFFICIALS BUT TILL DATE MY PROBLEM HAS NOT BEEN SOLVED, NOW I AM PLANNING TO GO LEGAL AGAINST YOUR BANK AND BROKER FIRM, ONCE I RECEIVED A CALL FROM MY BRANCH FROM MR.CHATARJEE BUT HE ALSO LISTENED MY COMPLETE STORY BUT DID NOTHING, HOW COOL IS THE MANAGEMENT OF THIS BANK BECAUSE CHATARJEE IS A MANAGER THERE.
13. PLEASE IN FUTURE NEVER SAY THAT YOU ARE BEST BANKER AND BROKER , YOU ARE CHEATING SIMPLE PEOPLE.
THANKING FOR HURTING ME SO MUCH .
REGARDS
RAJ KUMAR VATS
[protected]@gmail.com
DEMAT ACCOUNT NO: 15617967
BANK ACCOUNT NO : [protected].
SHASHI VATS
DEMAT ACCOUNT NO: 15536299
BANK ACCOUNT NO: [protected]

I AM HOLDING POLICY NO 02093090 DTD 21/08/2010 OF MONTHLY E.M.I. RS 5000.00. AFTER OPENING POLICY I AM NOT RECEIVED ANY STATEMENT OF ACCOUNT OR PAYMENT RECEIPT. IT CLEARLY SHOWS THAT PRIVATE COMPANIES ATTRACTS COSTUMER AND NOT GIVING ANY SERVICE AFTER SALES. MY REQUEST IS ATLIST STATEMENT OF ACCOUNT AND MONTHLY PAYMENT RECEIPT

Sir,I am holding a a policy (Policy No[protected], Kotak Smart Advantage)from Kotak Mahindra Old mutual life insurance Ltdand about to complete 3 years in AUG 11. I have requested many times for account statement but no action has been taken. Being a defence personnel my corresspondance address keep change. Presently i am posted to such a place where there is no nearby branch of KLI. Thus i am not able to contact nearest branch for changing of address where i can easily approach for receipt of A/C statement. While enquring changing procedure of address they told to fill up a specific form along with a address proof certificate and send it to the following address :-
Kotak Mahindra Old mutual life insurance Ltd.
Regd offic: 9th floor, Godrej Coliseum, Behind Everard Nagar, Sion (E) Mumbai-400 022.
I send all documents through speed post NO. EE[protected]IN on 03 FEB 2011 but no action has been taken yet.

Respected Sir,

With respect and sincere regards, I would like to submit to your kindself that I, Gaurav Kumar Sharma, resident of Sector 30, Faridabad, Haryana had a Policy (Policy No.[protected] of Kotak Mahindra Life Insurance (Kotak Mahindra Bank) for the last three years. I have been paying my premium regularly every year. This year in February, 2011 (dates between 05.02.2011 to 08.02.2011), I got telephonic calls from the Customer Care – Kotak Life Insurance on my mobile No. [protected] regarding the non payment of premium for my above said policy.

Sir, since my premium submission date was over and I was told by the Company representative over phone that they are deputing one of their representative in the name of Deepak to collect the premium in cash as it is already delayed. Fearing that my policy may not got cancelled, I gave the money amounting to Rs. 18,000/- in cash to Shri Deepak and he in turn showed me his Identity Card No. 46425 issued by Kotak Mahindera . The Company representative in turn issue me an acknowledgement Slip No. KP 2537958 dated 24/02/2011 amounting to Rs. 18,000/- from Kotak Mahindera and even gave his mobile No. [protected]. A copy of the receipt issued by them is enclosed herewith for your kind reference please.

Since but till 03.03.2011, when I find on internet that my premium had not been deposited by the representative of Kotak Mahindra, I approached the Kotak Mahindra Life Insurance Authorities through Customer Care and also in person to their Branch Office at Sector-16, Faridabad regarding the above. The authorities were unable to give any satisfactory reply in this regard.

However, to my utter mental disturbance and agony I approached the Duty Officer, Sector 31 Police Station, Faridabad at about 7.00 PM on 04.03.2011 and submitted my complaint in writing but till date I did not got any response from them about the fraudulent act done by the Kotak Mahindra Company.

Sir, this is a clear case of fraud performed by the Kotak Mahindra Bank which is duping the hard earned money of the poor people like me. I think it is a well established case of insiders of the company who pass on information to their representatives to collect the premium in cash and later switch off their mobile so that their whereabouts is not known. Sir, I am middle class family person and does not have enough income to bear such type of financial losses. I am facing both mental stress and financial crisis. I, therefore earnestly request you to kindly look into the matter personally and issue instructions to the concerned to investigate the matter I also fear that in the past also he has done such type of acts and had duped the people with their hard earned money.


Thanking you in anticipation and looking forward for a positive response in the matter at the earliest.

Yours faithfully,




(GAURAV KUMAR SHARMA
Sector 30, Fardidabad-121 003
Contact No. [protected]

I have invested 10000/- in KOTAK ELSS FUND, i have given redemtion in Oct.2010 through CAMS, but due to my old address i have not received the cheque.I again tried to get my cheque on new address so that i had submit my new address application, pan card detail and bank details. After a long communication i have received the cheque today i.e on 9th march 2011 with dated 8th Oct. on cheque.

I just want to know what is my fault?

and it is possible to get 5 month intrest on it?

my home loan no is - HF- 6926126...with kotak mahindra bank..

i was never told about the life insurance that i was wrongly sold..at the end the disbursement cheque had a deducted amount of 93000 towards the insurance premium.. kindly note thet i have repeatedly told them to discontinue the insurance,, but no action at all...

ashwani sagar

[protected]

Kotak has successfully disappointed me once again. I have gone through the trauma of reaching their unprofessional customer care and bank staffs. I am sure, like me, many of you would have experiences the horror of trying to reach kotak customer care by email or phone.

I had serious trouble with getting my home loan from Kotak in spite of all paper work being clear...and its still not solved. It seems no one in Kotak is really bothered to take the business forward.

Read through the mail that I wrote to customer care on 22nd feb 2011. I havent heard any response from them yet..not even the confirmation that they have received the complaint and they are looking into it. I think the post and telegraph system in 1980s worked faster than Kotak's customer care.

[protected]
From: Ashish Kanak <[protected]@gmail.com>
Date: Tue, Feb 22, 2011 at 11:40 AM
Subject: COMPLAINT :: Need aggressive contact point for Kotak home loan
To: service.[protected]@kotak.com


Dear Sir/Madam,
I am writing to you as I am deeply troubled by your agent handling my home loan.
I have applied for home loan through you agent Bhimrao - [protected]. The home loan is for 20lks and period of 15 years.

I had to follow Bhimrao day and night to get the home load approved in spite of my documents being clear. The home loan is approved now.

Now I am having problem in payment disbursement. My loan was approved sometime in October. Now it seems that the interest rates have changed in spite of the promise to keep the same interest rate till March 2011. It seems I will have to do the documentation work again as conveyed by Bhimrao.

I am in UK right now and I have given power of attorney to my Father. Even my father is disappointed by the services of Bhimrao and his approach towards work. Its absolutely unprofessional.

I am really worried by the casual approach and attitude of Kotak. I was not planning to take up home loan from Kotak as I was not satisfied with the services given to me by Kotak securities. I was some how taken into confidence by some Ms. Pallavi (my customer relationship manger) to go ahead with the loan as there are some good rates on offer. Now, Pallavi has left the bank and there is no contact point. In fact the loan rates have also changed in spite of all the promises. I am once again disappointed by the Kotak services.

I had to pay the first 2 instalments from my own pockets. Its a loss to Kotak as well.

Can you please move my loan to a more responsible agent. I want things moving before the next payment demand by the builder.

I am sorry if I have harsh in the above mail content. Please mail me on this mail ID. Optionally you can drop a SMS on +9198198XXXXX or call me on +4474380XXXX. Or give me a mobile number to reach the concerned person directly and I will give a call.

If the home loan cannot be processed then please refund the processing charges so that I can process the home loan from some other bank. You can send the cheque to Flat 602, Old Phase 1, Sonam Gyan CHS, Golden Nest, Mira Bhayander Rd, Mira Road East, Thane - 401107.

[protected][protected]
Regards,
Ashish Kanak

Dear
Sir/Madem

My Complain Number Is 02116347 Dt.[protected],Against My Policy No.[protected] & 00961983,I Allready Fill All The Forms (Declaration for issue of Duplicate Policy & All Marge Form) & Submited To Your Company Executive Mr. Atin Kapoor.But Your Company & Your Executive No Response My Police Documents.So Please Take Immediate Action Regarding This Matter.
Your's
Sushil Kumar jain
[protected]

I m getting calls from Kotak Mahindra telecallers every day. I just want them to stop it and let me live in peace. I have asked them to delete my number from their database. I got a call even today morning. If this continues, i will never ever invest in KMB even if i have handful of idle cash in future. This irritates me so much. The number changes every day. Today's number is[protected].