Kotak Mahindra Bank Complaints & Reviews

Dear Sir,
My name is suraj kumar. I am taking this up on behalf of my father regarding investment on kotak mutual fund (kotak indo world infrastruce fund-growth) which lead a big loss in principal amount instead of expected return. 5Lac had been invested dt. 25 Jan 2008 by one of our LIC MF agent in neighbourhood who assured the best return but its not worked out and our hard earned money in loss of 1.2 Lac right now. I am unable to understand who is responsible for this loss. Is that LIC MF agent is responsible or is this responsibility of company to take care the investor’s money who gives the faith? We are really depressed for this loss and writing in respect of getting a positive response on this. Also requesting for taking action against who has played irresponsibility in this regard.

Regards,
Suraj Kumar
[protected]

I was an account in Kotak.I was not using it, it got closed by bank but recently I opened an account in Kotak, they asked me to update previous one, but they opened new account and didn't provide me cheque book neither welcome kit nor anything else only pins...

When I checked the ATM Card I got an error Message "Invalid Card" I asked to CCE of bank he told me to make a transaction through kotak ATM even card was deactive they didn't check, When I got my salary in the account I was trying to transact then again I got same error mesage it was really an extreme emergency then in the evening I got info by CCE that your card is deactive we cant do any thing

And you can not withdraw by slip if you are first time I ruined my whole day but they didn't help me.

It was really a bad experience on that day I decided to close the Account in kotak.

But I am only waiting for my cheque book to withdraw my salary from there.

While joining with Wipro technologies, Greather Noida. on 18th nov. i opened a salary account with kotak mahindra bank , noida sector 18 branch . while doing so i was given the list of the offerings given by the bank to the corporate customer, in while credit card facility was also mentioned. this was the only product which had made kotak mahindra bank different from other bank present.

Deputy manager of the Bank had promised me that i will be given all the facilites which had been mentioned. after 20days of opening of account i enquired about the credit card quary for which they replied that two kits had been issued to me and they had been dispatched to my communication address( as appended in the attachment). upon regular follow up with the concern department they have made a remark that presentely they cannot provide the facility of credit card as my office area doesn't fall in their service category!! where as twp kits which had been issued to me are no where in the line.

This remark purely contardict the previous statement of the renowed Financial institution like Kotak. More over its a concern of total Mis-selling . where in the emphasis is given on sourcing of account only .. kindly help.

regards
Pradeep Negi
Business Analyst
Wipro Technologies
Greater Noida, up
[protected]

The NOC after loan completion was not delivered to me. I had to visit their office to collect it. Further, the NOC was not valid by the time I received it. For revalidating the same, they are charging me Rs. 828. They also charged me 2000 extra without my permission during loan sanction for an insurance that I did not need. Totally, a useless and pathetic service.

I LALIT JAIN would like to ask KOTAK MAHINDRA BANK that on which legal grounds my 2 cheques of rupees 12,93,000 was stopped on saying of PLATINUM DISTRIBUTIONS PVT. LTD . Mumbai. I m very ashamed to tell you that your management and banking staff supports FRAUDULENCE & ECONOMIC CRIME ACTIVITIES performed by platinum distributions pvt. ltd. Maintaining a/c's of FRAUD company like PLATINUM DISTRIBUTIONS PVT. LTD. - is this your banking policy ??

As per my information and research this fraud company PLATINUM DISTRIBUTIONS PVT. LTD. firstl deals with genuine person/dealers with the intention of doing fraud by giving them cheque and then mostly cheques of this company are STOPPED for no reason. AND, management & banking staff of KOTAK MAHINDRA BANK is also supporting this hobby of platinum distributions pvt. ltd. TO SUPPORT ECONOMIC CRIME ACTIVITIES .

This proves that bank staff , managers are also having involvement or special interest in giving birth to FRAUD and ECONONMIC CRIME ACTIVITIES.

Therefore, somehow KOTAK MAHINDRA BANK is also initializing steps towards ECONOMIC CRIME.

IN INTERRUPTING FINANCIAL TRANSACTIONS - KOTAK BANK IS ALSO LEGALLY RESPONSIBLE

I m providing you details of bounced cheques , letters of party
• party name---- platinum distributions pvt. ltd.
• party's bank a/c no--- [protected]
• kotak mahindra bank
• branch adress & phone no--- Ground Floor, Neel Rekha Bldg. L T Road, Borivali (W) Mumbai[protected]/28010743
• cheque no & cheque amount[protected] of rupees 10,00,000 (ten lacs) & 001299 of rupees 2,93,000 (two lac ninety three thousand)
• dated--- 20 december 2010

rest details and letters of company are attached with this .

I WANT IMMEDIATE ACTION !!

FROM,

LALIT JAIN

NAMASKAR TRADE LINK
27-C KOTHARI COMPLEX
OPPOSITE DIESEL SHED
INDUSTRIAL ESTATE
JODHPUR (RAJ)

CELL NO[protected] & [protected]

Hi,
Last November 10/11/2010 I did a Policy Known as Kotak Midcap FUND , I submitted an ICICI BAN Cheque of amount 2000 bearing number 369248,
As per my Bank Record the amount is debited from my account and there is no signature mismatch , but when I call to the customer care for status of my Mutual fund that time I came to know that the KOTAK MIDCAO FUND is cancelled because of Signature mismatch , but ICICI bank is telling to me that they can issue Certificate for successful transaction towards the cheque no 369248.

I don’t know what’s wrong with KOTAK but I want my Money back within seven Days, As there is no notification sent to me by the KOTAK for cancellation of Mutual fund and they Hold my money almost more than 1 month 18 Days ,

I called to the kotak MF customer care and they are saying it will take 24 working days to credited the amount , i would like to know one thing when i submitted the cheque, it got credited to their account within one days now it will take 24 working days to get credited to my accout ...this is really law by Kotak

Because I called to customer care hence I came to Know all the problem otherwise , I would be in a lime light that my money is safe with Kotak and performing good as the market is doing good ,this is really a learning lesson to me.

Now ICICI Bank is redy to provide me certificate that there is no signature missmatch issue with Cheque no 369248 and it was a successfull trasantion,

Now i can provide each and every documents which is againt the KOTAK mutual fund company,
please help me logging a cosumer complain against kotak MF

This is a serious loss to me, i can go upto any extend

please help and suggest me how to register a complain

Thanks
Giri
[protected]

This is Jaiprakash Madnani. I am working with Infosys Pune. I have applied for Credit card with HDFC bank and Citi Bank and my application was declined. I was shocked and reason was credit Bureau. I thought I a have home loan which I have been paying from last 5 years without a single delay. Using 3 Credit cards, used for more than 4 Lakhs in last 3 years without a single late payment, never paid interest. So How come it is possible?

Online I came to know we can ask for our Cibil Report and I asked for same but when I received my cibil report I was shocked to see that my name is cibil is from Kotak Mahindra and that is too as a Guarantor. I have no idea how can you do this.

I have never been to Kotak Mahindra bank in my life. Once in Life I have been to Kalina kotak Mahindra for an interview and I was selected by I did not join, Please reply to this mail or someone from your team please contact me. How can you people destroy some one’s credit limit. There was 2 enquiry done by you for Credit report and one was of worth 1Crore. Please tell me any one provide a loan for 1 crore to a Employed person.

Provide me resolution of this blunder made by Kotak bank.
NAme-JAiprakash Madnani
Pan-ALZPM6595J
mob-[protected]

I want the letter showing tax exemption for the current year. Customer care executives are not responding on phone.

i have open policy (kotak smart advantage plan) in month may-june 2009. Still date i have not recieved any document or any premium paid recipt.
Please do the needful.
Prafulla Ingale

. One of the representative of kotak-mahindra bank told me that there will be interest rate of 9.5% and 2.5 lac loan amout will conclude 8125 Rs. per month as installment for 36 months, i signed the blank documents....

I dont know how to calculate the interest of 8125 Rs. results in how much interest rate???

I am planning to go to customer suraksa kendra.. what should i do????
My email id. [protected]@rediffmail.com

Hi,

I am having savings 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:
1-Apr-10 Non Maintenance Charges 827.25
1-Jul-10 Non Maintenance Charges 827.25
30-Sep-10 Non Maintenance Charges 827.25
30-Aug-10 Non Main Ch Qtr Apr-Jun10 AQB belw 50 pc 275.75
10-Dec-10 Non Main Ch Qtr Jul-Sep10 AQB belw 50 pc 275.75
Total 3033.25

Hello,
My name is Amit Shende, i am intending to buy term insurance policy from a insurance company ie. Kotak life insurance at Nagpur Maharashtra, for that i come in contact with Mr. Abheejet sales manager / executive of Kotak life insurance company at Nagpur Maharashtra.He gives all the information regarding the policy and take complete details of my, he also collect a cheque of Rs.10096/- from me and said that he give me the receipt of payment. As per the discussion i told him that deposit the cheque only after taking confirmation of me. and give the time to ready for medical test. But this guy is very smart, and for his completion of target he deposit the cheque without taking acceptance of my and didn't give the receipt of it. Also he never told the date and time for the medical test, as my cheque is clear and payment is withdraw from my bank account on 6 of December , i ask to Mr. Abheejet for clarification he just pretending that i am the wrong said person. i ask to receipt he said he has not get the receipt of it, and when i asked why he had not intimate me for depositing the cheque given by me, he start arguing that this is the company policies.

As a representative of company Mr. Abheejet misconducting and misguide to me for just complete his target and commission, else the client as fool. He never follow-up for the next process and till i never get any proof for the payment except my bank account transaction and not have any policy document.

Even the company had not called for any assistance or help for me.

I request you to take action on this issue and on this type of faulty executives.

Amit

Dear Team,

I applied for P.F withdrawl in sept'10 and company received my p.f form on sept,4th'2010 and still they not process for p.f withdrawl. Kindly do the needfull.

Regards
Ashish Khandelwal
P.F acc. No MH/45187/15355
Mail I.D [protected]@rediffmail.com
Mob. No. [protected]

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 Sir/Mam,

This is to bring to your notice that policy #01962458 was sold to me based on fake information and projection of the amount growth by Apoorva Insurance Brokers Pvt. Ltd.

I was provided with some documents and an excel sheet (in email) having the calculation of the projected amount which I’ll get at the time of maturity (Annexure 1, page 1 to 5 attached). Premium allocation charges were not communicated to me at all and were not reflected in the excel sheet as well. I was told that this policy can be surrendered after 4 years and I can stop paying the premium from 3rd year onwards. Based on this the amount promised to me was Rs. 1,20,000/- at the end of 4th year. Also it was told to me that returns in this policy are guaranteed.

However just now I noticed that premium allocation charges are deducted as per the policy bond.
I have been cheated and based on the above grounds I would request you to cancel this policy from immediate effect and refund all amount with interest paid to Kotak Life Insurance by me.

This issue was earlier reported to Kotak Customer Care ([protected]@kotak.com), but I’ve not received any response so far (Annexure 2, pages 1 to 2 attached).

Looking forward for a positive response and request you to take legal action against such agencies who are putting the goodwill of Kotak at stake.

my Easy Day Card document subment two time to Easy day Show Room At Majitha Road Amritsar.But No.issue me By kotak mohindra card for shoping card.Something.My Mobile No.[protected].
55.Phase 2,Rishivihar,Majitha road Amritsar.143001.
Please Tel me Reason of De cosider me. My E.Mail: [protected]@yahoo.com
Mobile No.[protected].& [protected]

Mr. Suresh Chowdhary Mobile no.-[protected], on behalf of kotak company came to my house and sold me a ‘Surakshit Jeevan’ plan. In the policy details, he told that I will get 14.71% return in the existing Flexi Plan in Dec 2010, If i invest in Surakshit Jeevan policy.

Since, Flexi plan was in loss, I had no interest in investing in any of the kotak products. I had already stopped the premium payment of Flexi plan after 3 years. But after looking at the "Surakshit Jeevan policy", I agreed to invest in the same.

When I talk to kotak customer care No., I was shocked to know that there is no such scheme for Flexi-Plan and Mr. Suresh cheated me on behalf of kotak company.

Kotak company sales man are doing fraud by capturing the existing data of the customer policies and then selling new policies to them by making false commitments.

Now, I want to surrender the Kotak Surakshit Jeevan policy, but kotak is not replying anything at all.
Policy Number for the same is 00427129

Sir/Mam,

Myself is Himadri B Mohapatra having a policy no:[protected]Kotak smart advantage) & i have taken this policy almost 4 years back.But till now never i get any sorts o[censored]pdated policy status.Really it is hopeless.

Therefore requesting you to send the toatal policy value of my Policy: 00886773 in my Email Ids which are mentioned below.

[protected]@yahoo.com
himadri.[protected]@seml.co.in

my self NITIN KUMAR GUPTA, i was taken a kotak life policy in the month of june the payment was also duly made through cheque of state bank of india, i recd. a bond which is not as per the terms & conditions told to me. after that i'll approach to Kotak life for new bond & sign my new bond as on 28/09/2010 but till now i'll not receive any bond and the management of kotaklife is mis-behave with me. so, kindly give priority to my complaint and please give me my insurance bond.
for more details please contact:-[protected]

regards,
Nitin Kumar Gupta

Hi,
A few days ago i received a letter from kotak mahindra bank(dated -12th aug 2010) about the CRN:7053970 .That letter had sumone else's name ( Mr ShivKumar Sanmukh Nadar) but had my address .
Since the address was mine, the postman delivered it at my address, it is a statement of account of sumone who has taken a loan . i have tried contacting customer service dept, got no help even after running from pillar to post,

i fear that someone else has obtained a loan from this bank but has used my address.
1) I haven't been clarified who & why was this done?
2) kindly help me in clearing out my address out of this fraud.


Thanks & regards,
Reetu P shetty
B-401,Panchavati CHS,sec-5,
Ghansoli, Navi Mumbai.
PIN: 400 701
cell no :[protected]