Kotak Mahindra Bank Complaints & Reviews

Mail trail with Kotak Life pls read from below.

Mr.Kotak/Mr.Gupta – Sorry to bother you again, refer the fraud which has happen by your company pls don’t let the brand name of Kotak be ruined - just because of your direct sale team target pressure. It is obnoxious which has happened with my parents and due course of grievance redressal is required on an immediate basis.





Mr.Rathod,



I WANT TO MAKE IT CLEAR THAT I HAVE HAD NOT REQUESTED FOR CANCELLATION OF POLICIES, I’M REPORTING FRAUD HAPPENING AT KOTAK LIFE.



Mr.Faruki – What information you have passed on to Kotak Mumbai team? It is FRAUD reporting not a cancellation request pls make it very clear.



Refer your below mail, pls be informed that I’m surprised and sad to read this “Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year”



Here your executive SACHIN sells one policy while being in Netambit and when he joins Unicon after 1 year he misleads the customer saying that the customer will get 72,000 out of a policy of Rs. 50,000 if the customer opts for another policy worth Rs. 24999. It was wrongly explained after 1 year by SACHIN to do so – HENCE NO COMPLAINT WAS REGISTERED IN PAST 1 YEAR, HOPE YOU UNDERSTAND IT NOW.



Now why that SACHIN don’t come on calls now? If it is not a case of MIS-SELLING your representative should not hide and avoid calls.



Pls get hold of SACHIN, know the truth and punish him, treat it seriously Kunal.



Another development, today I received a mail from unicon to send the complaint to email id which of GMAIL, again surprised to know how you function and your level of business partners - helpdesk.[protected]@gmail.com (Mail attached)



Kunal the case is deep and you are dealing with it in a generic case closure manner, which is not at all appreciated. If you don’t take it seriously I will do whatever it takes to get justice.



RIGHT NOW I WANT TO CALLOUT VERY CLEARLY THAT I’M VERY DISAPPOINTED WITH THE SARKARI ATTITUDE OF PRIVATE COMPANY KOTAK LIFE.



Your review is there in mouthshut.com pls refers the URL below:



http://www.mouthshut.com/review/Kotak-Mahindra-Life-Insurance-lsnumstsln







Regards,

Saurabh


[protected][protected][protected][protected]

From: Client Service Desk //Kotak/Insurance [mailto:[protected]@kotak.com]
Sent: Wednesday, February 23, 2011 6:42 PM
To: Saurabh Malik
Subject: FW: FW: Cheating Racket run by Kotak Life



Dear Mr. Malik,



This is in reference to your request for cancellation of Kotak Smart Advantage Plan and Kotak Surakshit Jeevan policy number 01749643 and 02147245 respectively.



We have gone through the concerns highlighted by you and post investigations, the company has agreed to cancel the policy number 02147245 only. We request you to kindly submit the policy documents at any of our nearest branch located to you and complete the formalities and provide us a cancelled cheque (incase you wish to receive surrender amount as direct credit to your bank account).



Further, we are unable to consider your request for cancellation of the policy number 1749643 as all the information was duly explained and for the same we have also not received the complaint for past 1 year.



I trust the above explanation clarifies your concern.



For further queries please feel free to write to us or contact our Client Service Desk on[protected] from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

[protected] Toll Free) |(+[protected] Fax) | [protected]@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

Visit http://insurance.kotak.com/ and pay through Net Banking.
Pay through your bank’s website
Pay through VISA money transfer (https://www.visabillpay.in/)
Pay through Bill desk (www.billdesk.com)





[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Monday, February 21, 2011 1:47 PM
To: Uday Kotak //Kotak /Bank; Dipak Gupta //Kotak /Bank; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@uniconindia.in; [protected]@netambit.in
Cc: Client Service Desk //Kotak/Insurance; KLI Grievance //Kotak/Insurance; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank; Haseen Faruki //Kotak/Insurance
Subject: FW: Cheating Racket run by Kotak Life



Mr. Faruki and Mr. Mishra (Kotak Employees based out of Allahabad) were their at my parent’s house last Saturday.



Both of them and specially Mr. Mishra was trying a lot to convince my parents that fraud has happened and nothing can be done now….they should cancel second policy and continue with the first one as nothing can be done now! IRDA wants to the register the formal complaint refer the below mail received from them, fyi pls..



Mr.Kotak /Mr.Gupta – I will request you to please intervene as your employees are not trying to get hold of the culprit (SACHIN) and his companies (Neambit & Unicon) but they are trying to put the case below the carpet and get rid of the situation.



Need resolution immediately – pls help.



Regards,

Saurabh


[protected][protected][protected][protected]

From: IRDA Complaints [mailto:[protected]@irda.gov.in]
Sent: Monday, February 21, 2011 12:23 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Sir/ Madam,

We acknowledge your mail.

As we found information to be incomplete to register your complaint, we request you to send the complete details in the below mentioned format or you can contact 155255 (Toll Free) to register the complaint.


* Mandatory Fields

*Name of Complainant
Mr./Ms.

Communication Details


Door No./ Bldg/Name/ Floor


Street / Area


*City/Town/Panchayath/Village


Taluk/Tehzil


District


*State


*Pin Code


* E- Mail


Telephone No


*Mobile No
+91

Fax No


*Insurance Type (Please mentioned Insurance Type

*Life
* Non Life


*Insurance Company Name


Policy No:


Cover Note:


Other Reference No:


Details of the Complaint (Please type the full details of the complaint)


*Have you Approached Insurance Company Regarding This Grievance (If Yes Provide Ref No )





Regards,

Consumer Affairs Department

IRDA

Basheerbagh

Hyderabad






[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Thursday, February 17, 2011 11:09 AM
To: Client Service Desk //Kotak/Insurance; kli.[protected]@kotak.com; sachin.[protected]@kotak.com; tarun.[protected]@kotak.com; singh.[protected]@kotak.com; piyush.[protected]@kotak.com; dipak.[protected]@kotak.com; pankaj.[protected]@kotak.com; c.[protected]@kotak.com; haseen.[protected]@kotak.com
Cc: [protected]@irda.gov.in
Subject: RE: Cheating Racket run by Kotak Life



Some Shruti from Netambit called my parents yesterday and was trying to give the logic that any policy has free look up period of 15 days but as a reply we want to say that Sachin the culprit has done the fraud after one year not within15 days, refer the trail mail.



Mr. Faruki from Kotak Allahabad is requested to give quick resolution and punish or debit Netambit and Unicon from where Sachin their employee had made calls in order to deceive us.



Mr. T.Venkateswara Rao (Deputy Director - IRDA) is requested to see how insurance companies hire business partners like Netambit and Unicon who further are not able to control quality and end-up doing MIS-SELLING. Kindly get my case resolved.



Regards,

Saurabh





Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999




[protected][protected][protected][protected]

From: Client Service Desk //Kotak/Insurance [mailto:[protected]@kotak.com]
Sent: Monday, February 14, 2011 1:12 PM
To: Saurabh Malik
Subject: RE: Cheating Racket run by Kotak Life



Dear Mr.Malik,



This is with reference to your E mail dated 09.02.2010.



We would like to inform you that we have forwarded the case for investigation and revert back with resolution 3-4 working days



We solicit your co-operation for the same.



For further queries please feel free to write to us or contact our Client Service Desk on[protected] from Monday to Saturday between 8:00 AM to 10:00 PM



Warm Regards,

Kunal Rathod | Customer Care | Kotak Mahindra Old Mutual Life Insurance

Kotak Towers, Building No. 21, Infinity Park, Off Western Express Highway, Goregaon Mulund Link Road, Malad East, Mumbai 400097|

[protected] Toll Free) |(+[protected] Fax) | [protected]@kotak.com (Email)



IT’S FAST, IT’S FREE. IT’S CONVENIENT!

Register on our Online Policy Manager to get instant access to your policy details, fund values, fund statements and to conduct transactions ranging from fund switch to online renewal payments and many more. For details, visit http://insurance.kotak.com/



SIGN UP FOR THE NEW SMS

Keep track of your Fund Value, daily NAV’s, request for premium certificates and statements etc at the click of your mobile. To register, SMS REGL <space> policy number <space> date of birth to 5676788. Example: if your policy no is 716274 and DOB is 20th January 1970 (20/01/1970), then type REGL 716274 20/01/1970.



HASSLE FREE ONLINE PREMIUM PAYMENT

To avail this service:

Visit http://insurance.kotak.com/ and pay through Net Banking.
Pay through your bank’s website
Pay through VISA money transfer (https://www.visabillpay.in/)
Pay through Bill desk (www.billdesk.com)







[protected][protected][protected][protected]

From: Saurabh Malik [mailto:Saurabh.[protected]@indiatimes.co.in]
Sent: Wednesday, February 09, 2011 5:38 PM
To: KLI Grievance //Kotak/Insurance; Client Service Desk //Kotak/Insurance; KLI Press Queries; Sachin Kumar //Kotak/Insurance; Tarun Dhawan //Kotak/Insurance; Vijay Singh //Kotak/Insurance; Piyush Trivedi //Kotak/Insurance; Dipak Gupta //Kotak /Bank; Pankaj Desai //Kotak/Insurance; C Jayaram //Kotak /Bank
Cc: [protected]@irda.gov.in
Subject: Cheating Racket run by Kotak Life



Dear Kotak Life Team & Mr. T.Venkateswara Rao (Deputy Director - IRDA),



With extreme agony and pain I’m writing this mail to you all. Pls find below details of two policies sold with wrong information (MIS-SELLING) to my father (Mr. Malik). Policies are in the name of my Mother (Mrs. Swadesh Bala Malik)



A person with the name Sachin called-up my father ( Sachin’s Mobile number – [protected] & Landline number –[protected] and sold policy No. 01749643 and later after one year, Sachin called-up my father and told him that this fund is discontinued hence my father will get Rs. 72, 000 back on the invested amount of Rs. 50,000 and policy will be closed, if my father opts for another policy worth Rs. 24,999. My father being not very literate agreed and buys Policy No. 02147245 of Rs. 24,999. Now my father is waiting for Rs. 72,000 and Sachin is not picking up his calls since 2 months now.



I want that my father should get Rs. 72, 000 as committed + Rs. 10,000 compensation for the first policy no. 01749643 and Rs. 24,999 + 8% p.a interest for the wrong commitment and harassment he has faced by Kotak in front of his family for the second policy no. 02147245
Both the policy should be closed and we don’t want to engage Kotak ever in our house now.
Name of policy holder – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik) should be corrected for record purpose only.
Last but not the least, employees like Sachin should be taken for a task on ruining Kotak image.


Policy Details 1



Policy No. 01749643

Client id . 53153596

Policy date. 18/11/2009

Policy Holder Name – Mrs. Swadesh Bala Malik

Name of Plan – Kotak Smart Advantage (UIN -107L043V01)

Premium Paid – Rs. 50,000



Policy Details 2



Policy No. 02147245

Client id . 54149487

Policy date. 18/10/2010

Policy Holder Name – Svadeshi Malik(wrong spelling in the policy doc., correct one is Mrs. Swadesh Bala Malik)

Name of Plan – Kotak Surakshit Jeevan(UIN -107N042V01)

Premium Paid – Rs. 24,999





Regards,

Saurabh Malik

sir i want to inform you that i have complain agest. your executives {atin kapoor & ashutosh anand & tejender singh working in karol bage branch mein arya samaz road delhi} they frod us by making new policy of rs. 30000/- for there commission.inspit of that this amount {rs. thirty thousand} will be deposited in my old policy{policy number is 00962000 & 00961983,name by sushil kumar jain} but stil they making fool and misguide us.many time i send complain on your company email id & customer care but i get no response from your company. its my humble request to you please take strick action agest. your executives other wise i make police complain & give this matter in media.
your;s
sushil kumar jain
[protected]

Dear Sir,

Subject: Received half of PF than actual deduction amount

I had submitted my PF form to my employer and I received half of my deduction amount. No one is receiving phone at BANDRA EPF office since long time. Please let me know what can I do for receiving my rest of PF amount which I deserve to get.

Thanks
Ankita Sinha

SIR,

I HAVE FINANACED A CAR FROM KOTAK MAHINDRA PRIME LTD. MY LOAN ACCOUNT NO. CF-5622306 AND CRN[protected] .

THERE IS SOME CHARGES DUE TO CHQ.BOUNCED,INTEREST OVERDUE & CHQ.COLLECTION, WE HAVE NO WRITTEN LETTER FROM BANK BUT WE HAVE RECEIVED MANY PHONE CALLS THROUGH BANK /SEVICE PROVIDER.THE PERSON (MS.FATIMA PH.NO.[protected] WHO IS CALLING FOR CHARGES THAT IS USED VERY UN DESCIPLINED LANGUAGE (DHAMKI TYPE WORDS).

THE PERSON WHO IS RECEIVED CALLS IS A HEART PATIENT. IF ANY THIING WILL HAPPENED WITH HIM , BANK WILL RESPONSIBLE.

WE WILL DEPOSIT ALL CHARGES RESPECTIVELY.


REGARDS

RAMESH JINDAL
GLOBAL FASHION
G-56 AGGARWAL CITY PLAZA,
SECTOR - 3, ROHINI ,DELHI-85

TEL.NO.[protected]

DearSir/Madam

This is with reference to my Bank account no. [protected] and my credit card no. [protected]

I had to initiate closure of all services with Kotak Bank due to complete non-cooperation from their end. I would like to list down the issue that I had been facing.

1. My Kotak Savings Bank account Debit card never worked since day 1 (restricts me to pay and operate through ATMs)
2. My Internet bank account password does not work and resetting message doesn't come to my registered mobile no./email id after trying numerous times and even the customer care couldn't help after numerous complaints as well. The same had been even notified to Hemant who collects the payment from me, but was never addressed (restricts me to pay and operate through Internet)
3. Through drop boxes, I had clarified at the time of enrolling for the card that its not possible for me to use that since I have a very small baby and is difficult for me to go out every time. And there is no Kotak drop box in my office and residential complex. (restricts me to pay through drop box)

So almost by all means it became almost impossible for me to operate the bank account as well as credit card. From last 5 months I have been continuously charged late fees and interest charges because my payment was getting delayed. I was making all payment only through the Kotak Bank collection executice as that was the only means for me to pay.

All of these issues were never addressed by the Kotak staff after repeated complaints as well. I have been trying to discuss and come to a amicably acceptable situation to both parties but it is very mean of the bank to not accept any of their faults and completely reject all the request made by me, which actually gets me to also conclude and close both the accounts. In fact I had raised the final request of closing the card in first week of January to which Bank took almost 6 working days to revert and still they expect me to pay for the late payment and interest charges of January and February.

I have paid all the principal charges deducting the late payment and interest charges, but they are still not ready to close the account. Total due was 28194 as per Kotak, I have paid 20312, after deducting Rs. 7882 of late payment interests and taxes.

I would like to your help in this matter to close the same. Please suggest

Dera Sir,

This is to inform you that i have opened a Trinity account from Kotak Mahindra Bank Brabourne Road Branch in the month of November by depositing Rs. 5750/- in the account. But till date I have not received any welcome kit from your side. I went in person and clarified all the questions in the month of December but no steps in this regard has yet been taken. Kindly do the needful so that either i can use the account or I can get my money back.

Regards

Swati Biswas

I submitted a form to close my investment account at Sector 14, Gurgaon Branch on 02, Feb, 2011 and I was told that it will be closed within 4 working days. I asked for acknowledgement but I was not given any acknowledgement, as the request form does not have one. On 08, Feb 2010, I called Kotak Customer Service to know the status. However, it was still not closed and I was given the service request number stating that the branch would contact within 24 to 48 hours. As I expected, I did not receive any call from the branch within the stipulated time (turn-around time). Therefore, I called on 11 Feb 2010 (12:00 noon) to know the status, the account was still not closed, which infuriated me. Therefore, I insisted to speak to a Supervisor but no supervisor was available on the phone. Either they must be relaxing or they have too many complaints from the customers to handle. I was promised that a Supervisor would call me within 2 HOURS. As a gesture of bad business, I did not receive a call. Eventually, I called the same day at 8:00 PM and I got the same response; a/c not closed. Additionally, I was told that the branch tried to contact me and they have no request for closure of account at branch. In their words, for some unknown reasons I was lying. Customers always lie according to the Kotak bank. However, it is to be noted that my phone was ON and whole day I received calls and messages from other people. A big lie from the branch. All are habitual liars; the Customer service Rep, the Manager, the branch. The next day the Branch Manager, Neha, called me and gave me the same story; no request received at branch. She requested me to submit another request an this time they would give me a receiving. I was not convinced and rejected her request since I had done my part of Job. I do not have time visit these liars and see there faces. They could have taken an exception and closed the account after so much chaos. However, she bluntly told me that she could not go ahead and oblige by my request to close a/c. The worst customer service I have experienced in my life. I vow to never do business with them. I have forwarded request to their Nodal Officer and do not expect much. However, i will not spare these guys and write to Banking Ombudsman soon.

This is regarding Car Loan account no. CF501318 that I availed loan from Kotak Mahindra Prime Ltd. in the year 2008. Since then I have not received any a/c statement on my account. I have called customer care asked them about the correspondence of my loan account statement that which every bank follows( Infact, i have availed education loan from HDFC, personal loan from Axis and house loan from RBS and I get promptly my account statement frequently). Surprisingly they have informed me that I need to pay some amount to get my account statement. They have charged me huge interest compare to other banks and it was ridiculous to hear this kind of answer as a customer. Thank god I have neither any loan accounts nor salary account. I have to pay at least one managers salary every year to get the statements. Do you anyone knows how much cost it could be to provide a soft copy to customer!....Only Kotak Mahindra prime has to answer to this question in the world. Good service to customers! Hats off!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Banking is a business that attracts customer to deposit the amount or take the loan. If there is no trust then no business. I don’t know when they get to know the business.

Respected Sir,

I had submitted an application for partial withdrawal from my ULIP policy No 00454350 on 14 Jan 11 at Kotak Life Insurance, Bhikaji Kama Place, New Delhi. I was told that money would be credited into my bank a/c within 07 working days but till date I have not received any money in my a/c. I had been given a toll free customer care no[protected] to enquire about the money. I called up to customer care also but no fruitful action has been taken till date.

I, therefore, request you to kindly look into the matter so that I could get the money as early as possible. I shall be obliged to you for the same.

Thank You,


Your faithfully
Dhirendra Kumar
Accounts Sqn, 13 BRD AF, Palam, New Delhi - 110010
E-mail ID - [protected]@yahoo.com
Contact No - [protected]

Hello Sir,

Kotak mahindra bank, sec-18, noida
A/c No: [protected]

I am an employee of Milestone Ecommerce Ltd Gurgaon. I am getting my salary transfer from uk. My salary per month is 25,000/- inr and in december 2010, i receive just 22,036. When i ask my employer he told me that he send Rs 25000/-. When i ask my bank kotak mahindra, noida sec-18 branch, they told me that he send only 22,036. I went 3 times to branch and they(Harsha pandey, Deepak) guided me that the money send from there is 22,036. I asked to bankers a copy regarding this transaction they have given me below details. I am not getting where my remaining amount is. Please help me for this as from last 2 months i am following this case with my employer and also bankers.

20: Sender's Reference

FTS[protected]

23B: Bank Operation Code

CRED

23E: Instruction Code

SDVA

32A: Val Dte/Curr/Interbnk Settld Amt

Date : 14 December 2010

Currency : USD (US DOLLAR)

Amount : #489.88#

33B: Currency/Instructed Amount

Currency : INR (INDIAN RUPEE)

Amount : #25,000.#

36: Exchange Rate

0,020395

50K: Ordering Customer-Name & Address

3111C136336

MILESTONE ECOMMERCE LTD

18

CURZON STREET ST5 0PD

52A: Ordering Institution - FI BIC

MIDLGB22

HSBC BANK PLC

(ALL U.K. OFFICES)

LONDON GB

59: Beneficiary Customer-Name & Addr

/[protected]

AMIT KESHARI

70: Remittance Information

B/O MILESTONE ECOMMERCE LTDIFSC CO

DE KKBK0000181 MICR CODE[protected]

SALARY SALARY /REC/INR25000.00X0.02

0395

71A: Details of Charges

SHA

72: Sender to Receiver Information

/OCMT/INR25000.0 0.020395

//LESSINR0.0LESSINR0.0LESSUSD20.0



Block 5:

{CHK:C2437E23731E}


http://www.consumercourtforum.in/f33/kotak-mahindra-bank-sector-18-noida-37267/#...⇄

I am from Mumbai and I have some unpaid dues on my Kotak Credit Card.

I received a notice from an advocate from Mumbai on behalf of Kotak Credit Cards, asking to pay entire dues in 7 days. Then 15 days after that, another letter is received from the same advocate, addressed to another advocate in Mumbai with subject "Appointment of Arbitrator Under Section 11 of Arbitration & Conciliation Act-1996, appointing him...

Even I fully 100% agree that Kotak life insurance is full of all cheats and crooks agents and staff. They tell lies left-right and center,

And Even we were victims of falsely selling the policy, as we were informed and verbally promised by the KLI kotak insurance Managers, branch mangers alongwith agents that I need to invest in this for the first 3 years only,

They told me that you have to pay the premium for the 3 years only and there will be no deduction of the charges and all you will receive your money after 3 years according to the fund value. on the basis of the same I purchased the insurance and paid the first half yearly installment of 10000.

I fully agree that Kotak Life insurance is Making false promises and selling the policy without informing the customer of its full and transparent implication. I want that wide publicity should be given to such fraudulent sale of policy and IRDA should take strong acction against Kotak and force them to refund the first year premium paid without any deduction.They should also pay for damages .

I have already intiated a legal case i.e sued KLI in consumer forum, and complained to IRDA helpline: 155255, AND we are waiting for the right judgement and let the righteous and honesty prevail, and justice delayed is justice denied.

need to know the status of application IOOC746108
as it was approved long time back...Received email that card will be delivered in 10 working days but nothing else after that..What about the card shippment?

Hi,
This is regarding Car Loan account no. CF6184814 which I have taken from KMPL, laxmi Nagar Branch, Delhi.
I am sorry to say but they took more then 6 month to process my file (instead they should have told me that my loan can not be processed).
After loan got approved with so many hiccups (in July 2010 I took the delivery of the vehicle)...now come the other problems.
I have opted for ECS and gave my mandate from HDFC bank duely signed and stamped by HDFC Bank (3 copies). Right the month (August 2010) my first ECS was returned from the HDFC Bank saying "No such account" (this is what conveyed by the KMPL). I gave the cheque of the same HDFC Bank and it got passed with the same account which I mentioned in ECS mandate form. I requested KMPL to re-validate the mandate by getting it again authorised by the HDFC Bank. but till now I am paying by cheques only and getting a letter from KMPL saying that since my ECS are getting bounced so I have to a penalty. Every month they come and collect the cheque and make promises to resolve the problem.
They also asked to hand over all the cheques or open an account with KMBL. Is this the KOTAK's policy to get more account win????

Please resolve this ASAP to let live me in peace of mind.

Regards
Nirat Kumar

I am Rabindra kumar singh, Policy No 00303845, kotak flexi plan comenced fron 02/02/2005, want statement of account. please send it to my E-Mail rks.[protected]@Gmail.com

1> Company does not gives regular week offs,i.e Sunday.We all employees work at least 29 days a month and some times even 30 or 31 days, if asked question the owner says that its client requirment,our client whos process is hired and for we are working is Kotak life Insurance.
if an holiday is given on an 26th Jan or a 15th Aug,it then calls us to work on our decided week off i.e. Sunday.

2> Shift hours are exceeded beyond 8hours.

3> Our company name is 24o7,and our client is Kotak.We are asked to call customers on Sundays as well which i think is illegal to do for a Telemarketing company.
Kindly help us and kindly do not disclose my name

Regards,
Amit

I applied for personal loan with Kotak Mahindra Bank on 12/01/2011 as this loan amount needed for my sister's marriage. I submitted all my documents including Loan Application Form, PAN, Ration Card Copy, Electricity Bill, Salary Slip for latest three months, Bank Statement (I have my Salary Account with Kotak Bank itself) & One photograph. The bank officials visited my residence twice one on 14/01/2011 and second on 17/01/2011. They said that this is our rutine verification. the person who visited our residence demanded Rs. 20000 for providing loan which I refused to pay. The officer who involed in this one named Mr. Shailesh Mangal(Mob No. [protected]) & Mr. Shetkar ([protected]), Mr. shailesh told me on phone sir don't worry your loan will be processed before 20/01/2011.On thursday Called to Mr. Sailesh he adviced me to Contact Mr. Shetkar after calling to shetkar he inform me that your loan application is rejected without mentioning the reason for that. I requested him to explain me the reason of rejection, he told that as per our policy we are not informing the reason of rejection to the applicant. I also done the mail to Mr. Shailesh for providing me the reason of rejection and return all my documents at my Company address but till today(24/01/2011) they not returned me all my documents. Today I received call from Kotak Bank about My Request for loan. After dicussing with me the person who called me inform me that We can not provide loan to the person who has the salary less than Rs.10000 pm.and they are not giving loan below Rs. 200000/-. After this incident I called to said Mr. Shetkar about the returm of all my Documents including my Photograph, He inform me that we done the courier on 21/01/2011 at the address you requested. when I told him to provide me the POD Number and the name of the courier Comany, he refused with request that he will give me in five minutes which he not given me at all.

As after visiting the site of the Bank I got the information as follows
1) Min Loan Rs.50000 & Max. Rs. 50 Lakhs
2) Loan Tenure 12 to 60 months for salaried Persons
3) must be working with public ltd. Co/ mnc/pvt ltd.
4) Age limit 23 to 58 (Indian Resident)
5) Income net monthly salary of Rs 10000 with no loan
6) Qualification Graduate
7) residence Telephone - Required
8) Year in City - 1 Year
9) Total work experience - Min 1 year

As I fulfil all the above reqirement but also they not given the loan to me and giving me mental harrassment from 13/01/2011 till now by making calls and misguiding me on different issued and requirement. I want to file a case on this advice me what to do and how. please help me in this regards.

Devendrakumar Tripathi

This is Kishore having account with Kotak ([protected]), I have used my Debit card to withdraw 10000/-Rs in SBI ATM near koramangala, Bangalore. I haven't received any money from ATM but money has been deducted from account. This transaction happend 1st Oct 2010 and informed to koramangala kotak branch with in 15 mins.

Kotak people from lavelle road branch responded me after two months of complaint and they said transaction is sucessful as per SBI Bank. I have been asking kotak to get CCTV clips from SBI. It is really shameful of Kotak as they unable to get proper response from SBI. When ever i call Kotak people they say that SBI is not responding properly. Recently one guy Naren called me told that SBI has confirmed from CCTV clips and he insisted me to go to SBI to get the CCTV clips.

Few days ago i went to SBI PBB , Koramangala branch, It is really unfortunate SBI don't have any CCTV clips for that day, and without enquiring any details Kotak people forced me to go to SBI. This is another example of shamefulness of Kotak as they don't follow any details properly.

I have been contacting / following up with many people Lavelle road branch. ( Names are ANU, Harsha, Bijayalakshmi, Naren.. etc... ) No one is able to get this transaction money back.


i need my money back. Please do something to get this.

I have an investment account with Kotak since 2007 through which I made my mutual fund transactions.
Lately since some time I am not able to login to my account and when I try to generate a new password it says that there are not enough details with the bank.
On calling the customer care I learnt that since I do nothave any other account like a credit card or savings account with the bank I wont be able to generate the password online.
I informed the fellow that there was nothing such mentioned when I had actually opened the account.

Now to get a new password I am running back and forth so that i am able to see my investments.
Also even though directed by Sebi I am not getting my quarterly statements.

The bank has such bad and pathetic customer service that it really makes me think how long it can sustain in the market. The BM/RM do not seem to bebothered about this.

I am also registering a complalint with Sebi about this case.

Customer going for a Ride!
Story of a loyal customer of Kotak Bank, who was duped for crores


In a shocking incident, a high net-worth client of Kotak Mahindra Bank was hustled into buying a dud product for a whopping sum of Rs2.27 crore, with the bank pocketing a cool profit of Rs1 crore in the process. The wealth management arm of the bank allegedly misled the investor into putting the money in its India Growth Fund, based on bogus claims regarding its worth and taking undue advantage of the brand name to influence the buyer. The investor's repeated pleas to rectify the damage have fallen on deaf ears as Kotak officials refuse to budge.

For full story click on this link http://moneylife.in/article/4/12944.html