Kotak Mahindra Bank Complaints & Reviews

Kotak Mahindra — personal loan

am bought 50, 000 loan from kothak mahindra, am paying my amount through our ICICI bank ECS clearing. but the bank say's my outstanding amount is nearly 70, 000.00 and pay imediately, what shall i do...

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kOTAK BANK -Personal Loan — Harassment for Loan

Here I made a requested to " Kotak Bank ,personal loan dept ( Kalina Branch -Santacruz East ). mail dated 23 Nov 10 , That due to unfortunate & circumstances I met with an Accident & My Father's sad demise in same month of "June 10" .


That My salary will be deduct for few months due to leave without pay.
And I wont be able to pay the Emi for the month of Nov Dec , Jan .

But inspite of requesting several time on phone, their representative , they are torturing and harassing me and my family .

Also they discontinued my loan account / terminated .without intimation and asking me to bare all the charges .( letter dated 06 Jan 11 )

Please help me to get some time /month from the bank to repay all my dues and EMI’s , as I don’t want any ones money . I took I paid some of it .Just want a time to repay all .

As my condition is not good right now. .

Please Help me..,

Below are the loan details
I took this loan on 27 Nov 07.,and paid moist of the EMI's only 1 year is left for full payment /to complete the loan tenure
Total -Loan Amount Financed in Rs. 3,02,583.00
Loan Tenure in Months 48
Loan Emi Start Date 05-JAN-08
Loan Maturity Date 05-DEC-11
Loan Principal O/s in Rs. 86,778.57
Total Payable as on Date Due date: 1,05,782.31

Dear Mr. Tripathi,

Please accept our apologies for the inconvenience caused to you. We wish to confirm that we are looking into the said matter and shall revert to you shortly.

For any clarifications, kindly contact us on our customer care nos. at [protected] /66006022 or alternatively mail us at solutions.[protected]@kotak.com / mumbai.[protected]@kotak.com and we would be glad to assist you.

Regards, Kotak Support Team

Hello, I have applied for personal loan @ kotak mahindra bangalore submitted all reqd documents by 9th july2014 but till now no reply and no responce for the calls from kotak representatives. Mr.ram [protected] mr srinivas [protected] & receptionist [protected] & mr.manjunath [protected] are the representatives of kotak. nobady are responding to the calls.

As I received phone call regarding loan based on life insurance on December month from kotak mahindra bank adyar branch. They telling all benefits interest %is very less, no processing charge and main thing no need of cibil score checking. I told to that person sandhya ([protected]) I am having very low cibil score she told me that you have buy a life insurance in any insurance company. You can be eligible for Rs. 400000 loan for the insurance policy value of Rs. 30000. Based on the information provided by the kotak bank person ( sandhya) I have purchased a insurance policy in Reliance nippon life insurance.

Before the insurance policy they have verified and received all my documents like

1. Pan card

2. Aadhar card

3. 3 month bank statement

4. 1 cancelled Cheque leaf

After verification they confirmed with you are eligible for 4lac at interest rate of 5.5% for the period of 5years. Monthly Emi of Rs 8765.

On January 18th I have send the insurance policy number & first four pages of insurance policy document to the kotak mahindra bank person sandhya. After that they told you will receive loan on January 29th but I am not received.

In February month again I received call from kotak mahindra bank credit department regarding that loan verification. They give another date for the loan amount. I have asked for the application number or acknowledgement number to the sandhya as well as credit department person they said this loan process is done only through online so there is no need of application or acknowledgement number. The loan amount will get credited at February 26th. That day also I am not received.

Again they said the same reason. On march 16th I received call from the kotak mahindra bank credit department regarding 3rd verification and I given the proper response to the credit department person and she given the date on March 25th. On 25th also I am not received the loan amount.

After that they are not picking the phone call if I call from some other number they pick tell that I am in meeting. I will check the status & tell you like that.

Regarding the loan follow up I am very much frustrated & get worst service from the kotak mahindra bank. Suppose the loan amount has not approved tell me with the commitment from your side I also given commitment.

These are the phone numbers I have received

1. Sandhya [protected]

2. Raja [protected]

3. Sandhya [protected]

Credit department numbers

[protected]

[protected]

[protected].

With these numbers you can follow up the loan. Then only I will take the next step. Whether I have to give a complaint in the local police station or in the banking ombudsman. Anything you have to update me kindly reply to my mail. If you want any proof regarding the loan I having it voice recordings also I am having it.

Kindly do the needful.

Kotak Mutual Fund — DELAY IN GETTING MONEY

My account no. 1565284/15, Kotak Opportunities growth fund was submitted for redemption on 25 th March 2011 but still the payment has not been recieved. It was an SIP registered in Centurian Bank of Punjab during 2008. I have changed the bank account details after merger of COP Bank in HDFC, which is again confirmed by CAMs vide dated: 3rd Oct'2009. But after 15 days till on 10th April'2011 M/S KOTAK has not issued any chequ against my redemption. The stated that since COP Bank is registered for your account, which is now closed. Hence you have not been issued cheque. Where as i have confirmation letter with me regarding change of bank. So now I request you for helping me to get the money with the latest NAV in my regisered account.

Thank you

Reply not yet received

Dear Investor,

We would like to apologize for the inconvenience caused to you on account of delay in receipt of your redemption cheque.

However, we would like to inform you that your redemption cheque has been dispatched to your registered address on April 8, 2011. Request you to write to us at solutions.[protected]@kotak.com for further information. Our team will be glad to assist you.

Thanking you & assuring you of our best service at all times.

Regards, Kotak Support Team

It is I thin ka universal problem with Kotak Mahindra Bank, My debit card hasnt worked since day1 of opening the account and its been 3 years, I have finally decided to close the account for which they have asked me to pay Rs. 750, I don't know for what.

I will never recdommend this bank to any one. How come a new debit card be deactivated is hard to understand.

Dear Mr Negi,

We apologize for the inconvenience you have been caused about the credit card, and would like to thank you for bringing this issue to our notice.

We request you to write to solutions.[protected]@kotak.com with your CRN/Account number, so we may check the case in detail.

Assuring you of best services.

Regards, Kotak Support Team

Dear Giri,

We would like to investigate this complaint in greater detail, for which we would need some more information. Request you to write to solutions.[protected]@kotak.com with your full name (as mentioned in your application), application reference number and your contact details. Our team will contact you with a clarification on the payment status once we receive your mail.

Regards, Kotak Support Team

Dear Mr. Madnani,

This bears reference to the telecom our bank official has already had with you on your issue. We wish to confirm that we are looking into the said matter and shall revert to you shortly.

For any clarifications, kindly contact us on our customer care nos. at [protected] /66006022 or alternatively mail us at mumbai.[protected]@kotak.com and we would be glad to assist you.

Regards, Kotak Support Team

Dear Mr. Thakkar,

We would like to confirm that as per our records, no premium is due in the current financial year of[protected] and hence there would ne no certificate available for the current year.

However as per our conversation on your mobile, we are sending the certificates for the previous financial years.

For further queries please feel free to write to us at kli.[protected]@kotak.com or contact our Client Service Desk on[protected]Toll Free).

Regards, Kotak Support Team

Dear Mr. Ingale,

With reference to your complaint, we would like to confirm that your policy number as per our records is P# 01594881. We had duly dispatched the same vide Speed Post on 19th May 2009.

However since you claim you have not yet received the document, we request you to please write to us on kli.[protected]@kotak.com, whereby we can take it forward for resolution.

For further queries please feel free to write to us or contact our Client Service Desk on[protected]Toll Free)|
.
Regards, Kotak Support Team

Dear customer,

Our team would be more than happy to clarify the interest rate on your car loan, and the working of the EMI. We request you to write to support.[protected]@kotak.com with your loan account number. Our team will contact you once we receive this information.

Regards, Kotak Support Team

I have this Kotak Bank AC : 0XX2011XX1X58 since Sep 2007. This was given to me as ZERO Balance AC when I opened a Life insurance policy with KOTAK Life Insurance ( Policy # 007XX691 ) which is inforce now till Sep 2017.

Branch guys in Hyderabad promised me that this Kotak Bank AC will be a ZERO Bal Ac till the same period ( Sep 2017) and I was enjoying the services till June end of the month. Suddenly without any prior notice or information ( No SMS or mail received ), this Kotak Bank AC was turned to a normal AC and I was charged with Non Maintenance charges. I feel that this is very unfair to a customer like me who is using your bank services since 2 yrs without any issues.

I have already called the Customer care and lodged a Complaint #[protected] Floor Escalation Manager Lalith from MUMBAI) and he promised me that it will be reversed from the branch end as this is a genuine request made by me.

Expecting a call back from your end and also the reversal of the amount at the earliest. Please do the needful

I would also like to point out the same. I have opened ACE account with Kota on may 2008 and it has been told to me that this will be zero balance account for the Life Time but without any prior notice in my this month statement a sum of 1400 ruppes has been charged. My relationship manager told me that charges will be reveresed but now when I am trying to contact her she is not picking up the call.

Branch name - BanSankhari, Bangalore
Name of the relationship Manager - Rachana Sahoo

Customer Care is also hopeless, I have called 7/8 times but there is no response. This issue has to taken care with high priority otherwise the consequence will be really serious.

Vicky, please get in touch with ur home branch mgr and I am sure heshe should be able to help you with the issue.

I had to solve my problem in the same way.

Regards,
Pradeep

I am also facing the same problem. That too when I am having the required minimum balance in the account. Had visited the bank personally three/four times but no response. I spoke to the so called incharge or manager level person of the branch but no response.

One of the worst services from this kotak bank.

My account is with Lavelle road branch.

Dear Customer,

We would like to inform you that the charges you refer to are levied as per the general schedule of charges, available on our website as well as in all our branches. Please visit the link below for details:

http://www.kotak.com/bank/common/sa_fees_charges.htm

We assure you that these charges are not arbitrary and information is shared with our customers in accordance with RBI regulations. Request you to please write back to us with your account number at solutions.[protected]@kotak.com to investigate further and provide you a detailed explanation on the same.

Assuring you of our best services at all times.

Regards, Kotak Support Team

Hi,

I am holding a SB account with KG Marg New delhi. The bank account has been opened by Kotak securities people as Zero balance account and now the bank have charged me Rs.3400/- in last one year as non maintenance of balance. I didn't get any prior intimation from the bank for shifting of Zero balnce to Non zero balance account. This is very unfortunate for a customer

Sanjeev Saraf.

I am sumit form ludhiana to bad sarvice ludhiana barnch one buy one warkar

Hi,

I am having sallery account with Kotak Bank and they have deducted NMC to the tune as shoen below. At the time of opening the bank acc no information about any kind of charges was given to me and since then i have been levied NMC charges every quarter. Details of the same are given below. In case you need any more information please let me know.

Details of charges:

161205 DR CHRG NMC F[protected]
161202 DR CHRG MIN B[protected]
161202 DR CHRG MIN B[protected]
161123 DR CHRG BI FE[protected]

Hi,

I am having sallery account with Kotak Bank and they have deducted NMC to the tune as shoen below. At the time of opening the bank acc no information about any kind of charges was given to me and since then i have been levied NMC charges every quarter. Details of the same are given below. In case you need any more information please let me know.

Details of charges:

161205 DR CHRG NMC F[protected]
161202 DR CHRG MIN B[protected]
161202 DR CHRG MIN B[protected]
161123 DR CHRG BI FE[protected]

Dear Mr Shende,

This is with reference to your complaint; subsequent to the same we would like to inform you that your proposal number is 2180630 and our concerned branch will coordinate with you about your medical on priority basis.

Further, we would also like to inform you that we have taken up this case with the pertinent head of department, who in turn has initiated the necessary action against the concerned person, based on investigation.

For further queries please feel free to contact our Client Service Desk on[protected] or write to us at kli.[protected]@kotak.com.

Regards, Kotak Support Team

Dear Mr Khandelwal,

We believe our HR team has already been in touch with you over email. If you continue to have any concerns related to your PF, we request you to contact our HR team directly through mail.

Regards, Kotak Support Team

iam having a saving a/c in kotak bank a/c no [protected] since last 4 year

they offered zero balance saving a/c with kotak securities trading a/c now from last 2 year
they are charging non maintenance charges that also double even first time i seen cash dep charges
phone banking charges all unnecessary charges debited how the bank is not commitment on their word
how they charges like this is very ridiculous and looting a customer

Dear Customer,


We would like to inform you that the charges you refer to are levied as per the general schedule of charges, available on our website as well as all our branches. Please visit the link below for details:-

http://www.kotak.com/bank/common/sa_fees_charges.htm

We assure you that these charges are not arbitrary and information is shared with our customers in accordance with RBI regulations.

You are also requested to refrain from updating sensitive and critical account related information such as your account number on a public forum.

For any further clarification you are requested to login to your account through Net banking and communicate via Secure mail channel. For non-account related information, you may write to service.[protected]@kotak.com

The link below will provide you details of our Grievance Redressal mechanism, which is an attempt to understand and resolve concerns raised by our customers:-

http://www.kotak.com/bank/grievance/grievance_customer_care.htm

Assuring you of our best services at all times.

Regards, Kotak Support Team

looty bank dont open savings accounts.do not take loans/credit cards with kotak mahindra .these people are frauds

All the existing customers of kotak mahindra please withdraw your accounts.do not give them chance to fraud you

Very bad experience . My a/c[protected] se three times[protected] non maintenance charge kata gaya. Maine apna total amount nikal liya. Aap bhi nikal lo . Bahut fraud karte hai ye log.

Babu

Worst experience ever.. (Not for app)

In the name of zero balance you

people are looting your customers.
Hidden Charges are very
unreasonable (even compared to
SBl) and customer service people
also don't have satisfactory
explanation for the same. Following
are the excessive charges suffered

by me. 1. Twice deduction of annual

debit card fee. 2. ECS charges are
more than ECS amount and no
confirmation of ecs request from
bank. 3. Charges for cash deposit in
home branch are also high in the
name of Digital account. I would
suggest not to open 811 account and
don't fall for the blunder called zero
balance account with no hidden
charges by Kotak Mahindra bank.
Don't believe this kotak bank people
& custom care people.. They cheated
people

They looted people don't believe this people

kotak insurance — NON REFUND 30000/

R/SIR

I NEETABEN B SHAH HAVE GIVEN FAX IN WRITTING THAT I DO NOT WANT THIS INSURANCE TO HEAD OFFICE OF KOTAK INSURANCE SO PLEASE REFUND 30000/ AT EARLIEST

NEETABEN B SHAH

Dear customer,

We apologize for the lack of communication over your card application. Please rest assured that we are currently looking into this issue and will shortly be in touch with you. In the interim, should you have any queries, you may write to us directly at [protected]@kotak.com.

Regards, Kotak Support Team