Kotak Mahindra Bank Complaints & Reviews

Dear Team

I m an Advisor in Kotak Mahindra Life Insurance organisation, My code is 60117413 I have logged in the Good amount of Business as i qualified the power club membership within 3 months

My reporting Manager is Mrs. Navneet Kaur in Chandigarh Branch sector-9.

The purpose of writing this mail to u is that I have completed 1 yr in the system and now i talked to my manager for the collection of my renewal premiums she is not responding to me in a favorable manner, due to this my relations are spoiling with the customers and most of mine customers are my known persons. When i was working and i asked, if any Advisor left the job then what about the renewals and at that time i was told that there are collection boys and will collect the premiums. I was also told that reminder calls and letter has been forwarded to the customers but no one has received anything like that as 4 policies are of date 27-30 september. And when i asked this to my SM, she said it is now your duty and we do not have any relation with your customers they are your relatives and they matter to us only till the policy was not logged in, after that its all your responsibility. They are your relatives you deal with them. Now i m working in another company in showroom sales, and i am also studying side-by-side so i dont have time to collect the premium from the customers.
And i am also putting few contents on social sites that never become a life advisor, because insurance companies are going to cheat on you and when advisors relatives get over they will not even bother about you.

So I request u to help in this matter as it is related to entire organisations reputation.

Looking forward for ur co-operation....

Thanks & Regards
Manoj Jangra

3 years back, one of the executive from Kotak Mahindra Bank insisted me to open the zero balance savings account which was told as lifetime free facility. This was also mentioned in the offer document which was signed and stamped by bank authority. But suddenly in June 10 bank charged me the non-maintainance charges. When contacted with bank, I was told that the rule was changed and informed through Aug 10 statement. But during that period I was not getting the bank statements regularly and accordingly I had submitted the complaint as well with bank. I also had the July-aug 09 statement copy which I took manually from branch.
But inspite of all this, bank manager is adament and not ready to accept for reversing the charges. So I gave the request for closure of the account which they denied to accept. From that time onwards, every week they are increasing the charges. Since there was no balance left in accout, my account is showing negative balance and its negative value is increasing every week.
I want to understand that how bank can change such important rules without any specific reasons and without properly taking the confirmation from customer. More to that, when I had given the request for closure of account they simply deny it to accept. Isn't there a RBI control over such un-ethical and un-trustworthy behavior of the banks?
I request you sincerely to help me and get rid of this bank ad teach them proper lesson.
thanks
Paras Baldota

I am holding Kotak Trump credit card for last One year & have been using it for shopping etc.availing its benefits.

I'm writing this complaint to convey that Kotak credit card is one by one withdrawing the benefits or attaching some condition to it.

Intilaly, Fuel surcharge waiver was available across any pertol pump, whihc has been withdrawn.

The card provides benefits of 10% cashback on Restaurants & movies. IN the statement of Sep 2010 I'm surprised to see that this 10% cashback would only be available if total outstanding/purchases in the current billing cycle is Rs.5000.00 or more.

So if you are planning th get yourself a Kotak trump credit card, just by looking at its superficial features, give a second though to it.

awb [protected] pakege not deliverd by u till the date

My name is Shashanka Chaudhury. This is in regards to the parcel no: AWB [protected]. The reason I am complaining because I was supposed to receive a Kotak Credit Card delivered to me on 20th Sep'2010. Even I received one call from Express IT courier on 18th Sep informing the same. But have not received my card yet & I have been trying to call on all the contact numbers of Express IT courier in Pune where I found 3 numbers are not reachable & one number continuously rings but no one receives the call. Even I have sent mail to the customer services but no response yet. Tried to call Customer Care in Mumbai but all lines are coming busy.

Dear sir,

i have my current a/c named VINAYAK ENTERPRISES at kotak mahindra bank civil lines, raipur
the bank provide us a 2way sweep facility for transfer of my money to term deposits and give Fixed Deposit's interst in it.
i had enabled this facility in my account and it was going well for more than a year then one fine day this facility is disabled without my prior information ....

Dear Sir,

I had applied for a Kotak Trump Gold Credit card last month. The bank had emailed me a special invite for the same and I had filled out the relevant forms also on their website. But after that there was no response for 2 weeks. After that I got a call from the bank representative verifying the various details. But again there was no further communication.

Today when I called up on their helpline, they again took my details and told me that they cant issue me a credit card. Because I work for an NGO which is not listed in their private companies database. Also, I do not have any other banks credit card, so they cannot issue me a credit card.

My grievance is that why didn't the bank take this into account before sending me the invite? Also, as a person having a very strong credit history can I not get a credit card in this country just because I work for an NGO?

My application meets all the other criterion mentioned by the bank except the listing of the company.

Please support!

Thanks,

Zeeshan

WE TAKE A LOAN VIDE FILE NO CF 4252072 AND CF 4252020 FOR RS 21456,WE CLEAR ALL PAYMENT,ONE CHEQUE BOUNCED AND WE ALSO PAID RS 500 AS BOUNCING CHARGES,AT LAST COMPANY CLOSE THIS LOAN AND ISSUE A NEW LOAN VIDE FILE NO CF5737982.WHEN OLD LOAN IS CANCEELED THEN WE MAKE A STOP PAYMENT OF OLD CHEQUE AS PER MR PARTHA CHATTEJEE EMPLOYEE OF KOTAK PRIME,AFTER SOME TIME MR CHAWLA COLLECTION AGENT IS DEMANDING RS 2300 AS PENALTY AND ALSO HARRASHED ME ALWAYS ,KINDLY REGISTERED A COMPLAIN AGAINST KOTAK PRIME COMPANY.AT LAST VERY BAD COMPANY KINDLY TAKE NECESSARY ACTION AND WAIVED MY CHARGES.
MY MOBILE NO [protected]

To,
The manager,
Kotak Mahindra Bank Ltd.
Indore.
Subject: - Harassment by sending non-existing accounts statement.
Ref: - loan agreement no: CV-672058, CRN No. [As mentioned in your letter] 1596627

I regret & condemn you to state that,
1. I have borrowed the above reference loan for a TATA TIPPER on 26-MAR-2004.
2. The tenure was 35 months & the last EMI was due on 25-APR-2007, and the same has been paid by us
on 31- JAN -2007 by cash vide receipt no TCR 530342 [ temporary cash receipt, collector MR.GURJINDER.]
3. No amount was due or payable on that date; neither has been asked to us.
4. Since 31st JAN ' 2007, no communication for demand of any balance payable by us has ever been communicated by any mode till date.
5. At the time of payment of last EMI, the statement showing Rs.0.00 has been shown to us & being said that the same will be sent to you by post and never been sent.
6. on 30th- AUG - 2010, im in receipt of a bank statement claming Rs.176, 236.55 outstanding in above referenced account as a debit balance.
7. it has caused a sudden mental shock and harassment to me , and as Iam a cardiac patient , the letter caused a great torture to me.
8. I have borrowed one more TATA TIPPER after this one from KOTAK itself & that too has been finally paid & the entire loan amount has been paid by us & we have the RECEIPTS of all payments.
9. After receiving the letter, I have immediately reverted to your TOLL FREE no.[protected] & they have redirected me to your Indore branch & they have assured me to look into the matter & call back, but never responded back.
10. Iam finding mysel[censored]nder a deep shock & mental torture caused by your illegal and indecent acts.
11. Mean while I have requested , even by writing letters regarding issue of NOC for the same vehicle, but every time the bank has assured me that the file is in our Mumbai office & it always takes time , but u don’t worry , we will dispatch your NOC as soon as we get it from Mumbai head office.
Im enclosing the receipt of the payment of last EMI,
& i request you to look into the matter seriously; any further correspondence will enforce me to take the matter to hon. court of law to get justice & the compensation for defamation and mental harassment caused by you and the whole responsibility has to be bourn by you.



SUNIL SHARMA, DATE. SEPT, 9, 2010
46, JAWAHAR MARG,
BARWANI. [ M.P.]

Dear Sir

This has in reference to the Auto Loan I have taken from Kotak Mahindra Prime Ltd.
bearing my contract no: 4643286.

It may Please be noted that I had been paying EMI's regularly thru ECS but suddenly there was change in our Bankers. I had requested the Local staff of KMPL about this and they said that this facility is managed by our HO. Since than there is now communication from their end. Time and again I have been telling the local staff who comes for Collection of payments at my place. Today I have been served with an Arbitration Notice by them. I just fail to understand why this notice. Yes I do agree that there are 2 EMI's outstanding as of now & the same is also aware to the regional collection manager Mr. Pradeep Vyas . Even Today I spoke to him about the same and in-turn he informs that I cant do anything in this regards as the same is handled by our HO.

I now seek your help & advise on the same on the occasion. It may please be noted that the loan is still on & there are 20 EMI's still to go. Look forward to hear from you soon in the matter. My contact points are: Email: [protected]@gmail.com & Mobile nos: [protected].

Thanks & Regards

Jalesh Nilkanth Baroda

I had taken a vehicle loan from Kodak Mahindra prime Ltd by loan agreement No:CF4353749 and paid all the installments. After the completion of the installments I had called to their office twice to send the clearance certificates, but there was no positive action from their side. If there are any dues in my account they should have informed me so that I could have cleared it immediately. But without doing so they have abused & irritated me by sending a threatening legal notice through SA Associates Bangalore. This is very very UNFAIR.
Please not that we have not even received any single notice or a phone cal from bank.

Kindly contact further to the below.
B.Ramanujam
Managing Director.
Jevagarments(p)ltd.
Ph:[protected]
emai: [protected]@jeevagarments.in

I HAD APPLIED FOR REDEMPTION OF MY KOTAK EMERGING EQUITY SCHEME GROWTH WHICH I PURCHASED ON 30 MAR 2007
1000 UNITS FOR 10000/-

WHEN I APPLIED FOR REDEMPTION ON 10 MAR 2010 I WAS TOLD THAT REDEMPTION MAY BE DONE AFTER 31 MAR 2010 .

AGAIN ON 13JUL 2010 I APPLIED FOR REDEMPTION THINKING THAT MY REDEPTION REQUEST IN MAR WAS NOT HONOURED . I DIDNOT RECEIVED ANY INFORMATION TILL 6SEP 2010 . WHEN I ASKED FOR STATEMENT I FOUND THAT MY STATEMENT SHOWING REDEMPTION IS ALREADY DONE IN THE MONTH OF MAR 2010 AND PAID VIDE CHEQUE.

I CALLED UP KOTAK MUTUAL FUND OFFICE GAU AND TALKED TO MS ELDORA DAS WHO TOLD ME THAT MY CHEQUE WAS RETURNED DUE IMPROPER ADDRESS WHEREAS I HAVE GIVEN MY PERMANENT ADDRESS . NOW WOULD LIKE TO KNOW WHO WILL PAY INTREST FOR ALL THIS MONTH FROM MAR TO SEP 2010 7 MONTHS.

AWAIT YOUR RESPONSE.

PREMA SHERPA

I bought a policy of kotak life insurance (Policy No.[protected] in the name of myself (Raghuvir Sharma) in the month of jan 2009. I recived the policy on 2/2/09, but there were many personal detail was wrongly written on the policy certificate without my consent. I sent the policy back to the head office (Kotak Mahindra Life Insurance, 9th floor, Godrej Coliseum, Behind Evrard Nagar, Sion(east) Mumbai) on 6/2/09 by registered post of Indian postal. The policy was delivered within grace period to kotak life insurance, But they told that we did not recieved the policy. I complaint the postal department in response postal department isssued my certificate that policy had been delivered on the obove address. The premium of this policy has been deucting from my bank a/c by ECS. Now, I am telling them i[censored] can't cancel my policy atleast isssue me a duplicate copy of certificate. Whatever they have adviced me to do, I have done everything. Now, they are telling me you have to pay 800 penalty charges for issue of duplicate copy.
But there was no fault from myside. Why shall I pay for this.

PLEASE HELP ME.

YOURS FAITHFULLY
RAGHUVIR SHARMA
B2-14, PHASE IV
AYA NAGAR
NEW DELHI
PIN 110047
MOBILE: [protected]

I have resigned from Kotak Life Insurance in May 2006 and I have submitted FOUR TIME my PF from in Delhi ( Ambadeep Bldg.) office but I am very surprise that I have still not getting any kind of responce from any office ( from PF/Kotal life ) whenever I tried to contact Kotak Ambadeep office in HR deptt. every time they did not give me satisfactry answer. Last time I deposit the PF form on May 2010 along with cancel cheque but still I am waiting for their responce. I am regularly trying to contact their HR deptt. but no one is comming on Phone.

My Employee Code was : OM3189 - Grade SP-2
Last working day was : 06.05.2006
PF No was : MH/45187/3177
Email Id : [protected]@rediffmail.com

Please try to short-out my problems.

Regards

My name is Salil Bhalchandra Nanal i have been cheated by an agent name mr vishal thakkur saying tht he is frm sion9east) head branch of kotak life insurance he had promissed me a refund on my old policies which ver in a laps mode he told me to invest rs 1,75000 in a super advantage plan which was un affordable to me after repeted calls he or his collegues did not respond so i went to kotak life building at sion(east) mumbai there i came to know tht i was cheated and taken for a joy ride
please look in to my case and help me get a refund on my new policies which was wrongly sold to me the police nos are 02058684 dated 20/07/2010 and 02021046 datd08/07/2010 pls help me in this matter

THANK YOU

Ref : Car loan agreement no. CF - 4859582

Dear Sir,

Pl. find attached herewith the scanned agreement copy

In agreement it is clearly mentioned that, EMI is due on 10th of every month.

But then also kotak Mahindra has presented PDCs on 1st of every month & withdrawn money from my account on 2nd or 3rd of every month. Money was withdrawn 7 to 8 days earlier than the agreed date.br...

Dear Users,

I have a Kotak SunMaxx Solar Water Heater purchased in 2007. The Dealer whom I met to purchase the product was so sweet and interested that he left no stones unturned until the sale was complete. It was not too long before the unit started causing problems. The first service call was awesome, on dot and sincere.

But the story took a turn when the problem recurred not too long after the problem was...

I had taken a vehicle loan from Kodak Mahindra Ltd in April 2009 (No:CF5141500) and paid all the installments. Due to the internet problem of the Vysya Bank Tirur, there was a delay of few hours in cheque encashment and the amount was paid by CASH as per their instruction within few days..After the completion of the installments I had called to their office twice to send the clearance certificates, but there was no positive action from their side. If there are any dues in my account they should have informed me so that I could have cleared it immediately. But without doing so they have abused & irritated me by sending a threatening legal notice through SA Associates Bangalore. This is very very UNFAIR.
I dont know to which address I should send the overdue interest mentioned in their letter
Regards. V.P.Vasu
"Vasantham" Thunchan Road
Tirur 676101
[protected]

Hi, I have a kotak bank account and the person had conme to me stating that they would be offerring me a zero balance account. But after two years they started deducting the money stating non maintainance of balance charges for every quarter without informing about the same. After complaining the customer relationship manager, the person told me that the offer was only for two years but this wasn't mentioned anywhere neither the same was communicated to me. The customer reltionship manager asked me to give an application and then he will get the amount reversed but till now nothing has been refunded.

I request everybody please do not go for Kotak Bank in any case.

Can anybody tell me how to deal with this kind of cheating??

Thanks in advance
Pratap

Due to being unemployed, i have not been able to make a payment on my Kotak CC for the last 3 months. Which was within my Protection plan. Prior to which for a period of nearly a year, i maintained perfect record with them.

About 2 weeks ago i recd a call from on their collection teams regards payment. I told them to call me a week after that.

I guess i made a mistake of being honest with them, and telling them that i have all intentions of paying back the amount i owe (< 25000).

Since, then a female calls me up everyday and harrases me asking all kinds of questions regards my income, employment, so much so that i told them clearly that i shall deal with the bank directly and not through her.

last week, on tue-thurs i was called nearly 250 times. After me telling them i could not speak to them then.
This included continuous calls from the number [protected]/36 from 1030 in the morning to about 1245. Without a break.

the same has been started today, with me answering and telling the lady (??) that I have contacted the bank directly. (which i have documentary proof of).

I have recd atleast 25 calls today from that number after speaking to them thrice.

Is there a course of action i can take against them? This has to be within the legal definition of 'harassment'.