Kotak Mahindra Bank Complaints & Reviews

Most respectfully I want to say that I am holding an account in ORIENTAL BANK OF COMMERCE, PREET VIHAR A/c No. [protected]. On Friday, 25/06/2010 I went to withdraw cash from KOTAK MAHINDRA BANK ATM, JAIL ROAD at 16:08 afternoon. I punch amount Rs. 6000/- to be withdrawn but I only received Rs. 2500/- and the machine show TRANSACTION DECLINED CONTACT BANK. I told the guard sitting up there that I only received Rs.2500/- and he said that machine has gone out of cash. I checked my balance right there and shocked to see that machine showing cash withdrawl of Rs. 6000/-. I waited for three days but the remaining amount is still not refunded in my account.

Please look forward to it and take necessary action as soon as possible.
Yours Faithfully,



Ram Gopal Aggarwal & nbsp;A/c No. – [protected] Address- 139, New Lahore Colony, Shastri Nagar, Delhi – 110031 Contact No. – [protected], 2207738

Respected sir,

Myself Jai singh from village abusar, jhunjhunu district is an agriculturist now and a retired

army person. I have invested Rs. 24000/- in an insurance plan of kotak life insurance

company named Super advantage plan. The policy was issued on 12 april 2010 & policy

number is 01963624.I received this policy bond on 28th April 2010 and when I read about

conditions and various charges of this policy I decided to freelook this policy bond. I sent

back that policy bond to the kotak life head office mumbai with my written request to free

look this policy as soon as possible on 28 april 2010 through speed post.

But after some days when I call to the customer care of kotak life insurance they told me

that my request has been rejected bcz i request to freelook this policy due to economic

reasons and now the freelook period is over so we are unable to follow your request. I got

shocked as they did'n't intimateme during the freelook period that my free look request is

rejected.If they gave me the information on time I will sent them the request again on time.

Now I am helpless and the freelook of this policy is still pending and the bond is also not

sent to me till date by the company. I want to freelook this policy right now as the premium

paying term is more than my premium paying capacity and this plan is not suitable to my

requitements and this is impossible for me to surrender this policy in the very 1 st year .

Please do the needful to this matter .

Thanks & Regards

Jai singh S/o Bhinwa Ram

Village - Abusar

Distt.- Jhunjhunu.

Mob.- [protected]

To
1. The Manager / Branch Manager,
Kotak Mahindra Bank
15, Park Street Kolkata-700016
Apeejay House,

2. Branch Manager
Kotak Mahindra Bank
1, Asutosh Chowdury Avenue
Ballygunge Kolkata-700019.


Re: Cancellation of Application for Credit Card which I have not received and cancelled
my Fix Term Deposit No [protected] being Customer Relationship No: 24514241

Sir,

With reference to the above I Arshad Hossain of 42/5, Jannagar Road Kolkata -700017 having a Saving A/C being No: [protected] at Kotak Mahindra Bank at 1, Asutosh Chowdury Avenue Ballygunge Kolkata-700019.
That in the month of March 2010 a person namely Baban Saha Contact No ([protected]) represented by Ms Rim of having her Contact No [protected] request me for a Term Fix Deposit of amount Rs 25000/- ( Rupees Twenty Five Thousand) on pretext of issuance of Credit Card against the term Deposit with in the 15 days of the executing of term deposit and as such I have done so. Xerox Copy of Form for your kind perusal.
That after a lapse of considerable period I continuously made a toll free call in regards to Credit Card wherein I have been instructed that my address is mismatched or my date of Birth is not matching thereafter I visited my Bank and met with Soubhatri Mukherjee (Branch Relationship Manager) on[protected] and request her to cancel the application for credit card as well my fix term deposit in reply she said that I need to update my address and date of Birth and as such I handed over my Passport for the same. Thereafter she stated that a credit card has been issued against term deposit but it has not been deliver to you as because the card has been returned back due to improper address and she have update my address and date of Birth and assured that the credit card will be reached to you with in 7 working days.
On several times I contact to the customer care service (Mr Rahul) on[protected] being request no[protected], again with Ms Naina on[protected] being request no :[protected]. But no solution has been made till yet and I have continuously harassed by the staff / management of the Bank.
In the premises stated above, I request you to cancel my credit card & refund my Term Deposit amount in my saving account instant failing I have no other alternative but to move a competent court of law for relief and remedies which please be noted.
Thanking you, yours faithfully

Arshad Hossain


Note : Neither they released my fix deposit payment nor they issued a credit card against my fix deposit till date

Non-delivery of Kotak Credit Card

I applied for kotak card, and after the approval i received one massage from kotak card, the card was despatch on 28-05-10 and ref no. AWB [protected] by EXPRESS IT COURIER.

Till date they are no able to deliver my card at my office.

The copurier company is very lazy, plz do somthing

Pankaj Chawla
Vikas Puri, New Delhi-18

Agreement No- CF-4043964
even spoke to your officer Soman Neoge from collection department and asked him same instead answering my queries he bluntly said that will I make the payment or not in a threat tone. He didn’t disclosed any information neither he provided me any breakup. (agreement attached)



I AM AGAIN PUTTING MY GREVIANCE HOPE I WILL GET THE ANSWER>

I Sandip Singh client of your esteemed company via loan agreement number 4043964 wish to bring to your information that there are malpractices happening in your organization, I am mental harassed due to this ill practice of your organization.



I was approached by your sales representative for the loan few years back, I believed in your brand and the customer relationship factor associated with BRAND Name KOTAK Mahindra and did the mistake of availing the loan.

I wish to bring to your information that incident which took place there after.



· Only contact person I knew was your sales person and he left your organization few moths after providing me the loan. This lead to utter confusion about the next person I should correspond to. I didn't receive any further correspondence which could state about your Kolkata address or the contact person name who I can contact for any information.



· I acknowledge that few of my cheque got bounced for which I have receive call form your organization stating that I have to make the payment. I have always asked to your tell caller (official on phone) that what is the extra amount I have to pay for my dishonor cheque. But your tell callers always stated that I will be contacted later for this currently I just have to pay the installment amount, which I always did.(Kindly check your teli-caller taped calls you will have the proof of my request) I have always paid the amount, never tried to differ of delay the payment knowingly and tried to have my financial image clean.



· I was never been contacted for the amount (fine) which I have to pay on my cheque bounce though I mad request to your teli-callers. Neither had I received any correspondence during my loan tenure about the extra amount or penalty or interest which is accrued in my account.



· Today 05th of June 2010 I have received a call form one of your officials asking am I interested in getting the NOC form the company on giving my affirmation he stated that I to pay Rs.5000+ for getting the same. On asking what it is due against as I have cleared my account he stated this is late fine and interest charged on my account.



Please State why none of your official asked me to pay the late fine along with the installment if that being the case.? Why prior to today I didn't had any official correspondence / communication stating that this amount is accrued and I need to pay it of on urgent basis. Why the fine was left to build to this disproportional amount without providing any information to the client.



Your organization is charging interest on late payment till date where as I could have easily paid the late interest along with the installment if informed during the period.



I believe this is a practice which a company of yours can do without, this might be happening to the other clients too. I believe this may hamper and dampen your image as financial company. This is a practice done by local money lenders that to they keep the client informed.



I believe you will understand my grievance and try to improve your information system and client relation ship, and will charge which should be just and fair.



I am not telling to cancel all the charges but to take the charge which is on the fair ground.



I believe you will come up with the answer which will justify your company stature. I am eagerly looking forward to your positive response as soon as possible.

Branch : Sec-14 Branch,Gurgaon-12201 Date :[protected]


Name of customer : RAJAT GUPTA

Type of Account : Savings Savings / Current / Term Deposit / Demat / Loan A/c Others

CRN No : 30226671

Account Number/Loan A/C No : [protected]

Contact No.

(Office No) - N/A

(Resident No) -[protected]

(Mobile No) - [protected]

(Email) - rajat.[protected]@yahoo.com


Details of the Grievance / Complaint:

Hello,I would like to inform about the pathetic servies of the Kotak Mahindra Bank that is really pathetic in the terms of servies.I am a corporate customer of iYogi Technical Services and the first time I filled the account opening form on 10th May'10 and till date the account is yet not activated and also I am following up with the bank representitive Mr.Ashish Bhanot and firstly he told me that your account form got rejected because the picture is not clear in the pan card.So I have given the document again on 24th May'10 and got the commitment that it will be activated by 30th or latest by 1st May,10 but after that again account was not activated and some how my salary got transfered into that account by my company but was not able to withdraw .And then I again tried to contact Ashsih but he didnt pickup my call.I tried his phone no. more then 100 times,then I contact the relationship manager Ms.Amit Ahluwalia on 4th May'10 and she told me that you need to fill the new form and provide the ID proof again and it would be activated within next 2 days means maximum by Monday but the same thing happend that its not activated,then again I contacted to the same lady and came to know that they didnt get the form from my company's HR department and also told they will get the form by tuesday evening from my company's HR and will forward for the processing.And now today on Wednesday 10th may She told me that they have got the form from the HR and will be forwading for processing the A/C and hope it will get actiavted by Saturday morning but when i again contacted with my company's HR department they told me that they have no idea about the bank form and there is no such form for that.And also my salary in that account is just showing but of no use as I cant withdraw the account for my use and because of the all the fake commitments and the pathetic & poor services I am still facing the issue of calling here and there not knowing what is the truthand cant withdraw my salary from the A/C till date as a case o[censored]rgency to pay my debts .
So,Please look into the issue and give the resolution ASAP.Hope for the positive response from your department.
For any further enquiry please contact me on my mentioned mobile number .Thank You


Regards
RAJAT GUPTA
Signature of Customer

Hi Dear,
I have taken a Kotak life insurance policy of "policy number 1850091" in the month of January 2010. I got the receipt of my first premium, paid by me although till date I have not received my policy documents.
When I have enquired (2-3 times) the same with Kotak-customer care executive, I got a reply that Kotak has sent the policy document on my permanent house address which has been collected by some other person. And I don't know any person with that name. In my house, nobody has received those documents.
Since I have not received my Kotak policy document, I can not be a legal policy holder.

Since last 2 months i had been continuously doing the follow up with one of the account manager of Kotak to get me the duplicate copy of my policy but he is not taking this matter seriously and never give the satisfactory answer to get this work done.


Please help.

Thanks,
Sandeep Rawat

I have a savings account (A/c No. [protected]) in Kotak Mahindra bank. Since January 2010 the bank has deducted around Rs. 2500 from my account as Non-Maintenance Charge.

I had opened the account under a promotional offer for the employees of the company. A representative of the bank persuaded me to open the account on the grounds that it will be a zero balance account. All I had to do was make an initial deposit which I think it was Rs. 20,000.

In Jan I noticed that around Rs. 825 was deducted from the account. When I called I was told that the promotional offer of zero maintenance was only for 1 year and that the status of the account has been changed to one requiring a maintenance of a minimum average. Since then around Rs.2500 has been deducted from my account.

This was done without informing me. I never received any letter or call from the bank stating that the account status has been changed and that I have to maintain a minimum average balance.If they had informed me beforehand I would have maintained the minimum average balance like I do in case of my other bank accounts.

I have called them multiple times and even spoke to a representative from the Bandra branch (where my account is), but to no avail.I request you to please intervene and help in closing this issue.

Thanking you

Sreejith S. Pillai

A/c No. [protected]
email: pillai.[protected]@gmail.com
mobile: +91-[protected]

I have a policy with you in the name of Veena Madhu vide policy no.0437167 and This is a policy and i paid the 60000/- in the policy, In the march some person called from your company Mr Anil Mehta from Delhi (may be branch Sector 80) and he said that your policy is growing well and now your fund in the policy is rs 112000/-, but actual fund is Around 70000/-

He convince for the one more policy 15000/- yearly of Kotak Mahindra bank and then he send some person at jaipur my home he signed some document from me and after some days policy comes of SBI and now he is not picking the phone and i called from another no. then he said that i will change the mode from half yearly to yearly.
And now he is not picking the phone and replying.

Details of the person
Anil Mehta
Branch manager
Kotak Mahindra Life insurance
Sec 80 brach
Delhi
"As he said"

Help me out the matter
Veena Madhu
[protected]

I 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.

respected sir,
I,Randeep Sharma,having kotak credit card no.[protected] used last time on 13th day of feb 2010 and the transaction amount is Rs.622.20 for the same i recieved statement from kotak bank on 2nd march 2010 where as due date for payment is 10th march 2010 so for the same dropped a cheque no.600243 dated 6th march 2010 of ICICI Bank at kotak mahindra bank branch of defence colony branch where as in next month when i recieved statement from kotak bank they put a late payment fee of Rs.500/- when i complained the same at their call center they told they take up this complain and revert back but they didn't and when i again enquired about the same they told me deposit Rs.102/- until this issue resolved so i handover Rs.102/- on 18th april 2010 to their representative against a receipt no.0247700 and book no.0009908 subsequently when i recieved this month statement they put again late payment fee and the amount is Rs.1000/-now so i again enquired it with their customer care they told me they are taking my complain and let me know and after few days i got call from the bank and they are telling me about my dues.
Please help me to understand from them are they facilitating their customer or they making money by creating a problem for their customer.
Your due action is awaiting please help.

Sir,
Kotak Insurance had mailed the policy documents vide POD NO;[protected] dt 12 Apr from Mumbai to me at
E301 SANMATI KUNJ SEC 6 PLOT19A DWARKA N DELHI 110075. I have yet to receive the mail.
Kindly take necessary action.

Sukhdev S Virk

Hi,

This is with regards to Car Loan which I have taken from Kotak Mahindra Prime Limited.

I want to repay the loan & hence I called up Kotak Customer Care Number. The CSR told me that I have to pay pre-payment charges which are 5.52% on the pending amount. But when I checked the attached schedule/contract, the pre-payment charges mentioned in the schedule are 5% only. On sending a mail to service.[protected]@kotak.com...

To- G Murlidhar, Chief Operating Officer
I have taken a kotak life insurance policy in 2009 based on the agents promise. HE PROMISED that the amount invested here will be multiplied &will yeild high returns.But today i received a call from mumbai office. She told me that my taken policy is closed because of big lose in future so she forced me to take another policy of bharthi axa for refund of my previous policy.If i refuse to...

HI,

I m from Agra, since last one week my father was receiving calls from kotak mahindra life insurance (Delhi) company's guy. After so many denials lastly after so much frustration he listen their insurance familiarization plan with pre condition that he will not take any policy. AT that time the staff was very sweet that Sir, pls listen the plan after that its your wish whether to join or no. we will not pressurize u. he listen the plan and as pre decided he clearly deny.
The guy which was defining the plan changed instantly. By god he became dogs & started barking at him. He felt so humiliated at that time I can't explain.


I can not expect this type to communication from a repudiated company. It was all unexpected to me from the Kotak Mahindra as they give the training to their employee to customer care. It was totally ridicules to me and definitely I will not go for any investment with Kotak in future.

As of my suggestion, company should keep on eyes on their employees’ communication to customer care and looking for an appropriate action against this employee.


Employee details:
Mr. Manish from Delhi branch was calling from following numbers:

[protected],
[protected],
[protected]

Regards,
Amit Agarwal

[protected] Forwarded message[protected]
From: Umesh Satti <Umesh.[protected]@tatadocomo.com>
Date: Tue, May 4, 2010 at 6:20 PM
Subject: SPL 19751- Need Certificate of clearance
To: service.[protected]@kotak.com, [protected]@kotak.com
Cc: umesh.[protected]@gmail.com



Dear Sir

Personal Loan SPL 19751
Today you people have embarrased me and down my credential due to your...

Pathetic Card. They charge you for the money already paid. I paid 11,000+ out of 13,000 outstanding during the month of March. When I received my monthly statement, they charged interest for the entire 13,000 outstanding. When I asked what about interest free period and already paid amont the CCE told me that as I didn't pay the entire outstanding I was charged interest on the entire amont. As for interest free period the maximim time is 45 days but you can be charged after 10 days as well as per bank policy. When I asked why I was not informed about it earlier, she told be nobody reveals everything. All in all Kotak Credit card is good for people who intend not to pay any money after using the card but pathetic for people who pay on time.

DEAR SIR,
I am a student of MBA and has done my summer training at kotak mahindra life insurance where we have given with a target of 3lacs Rs to be generated by selling their insurance plan. I worked hard and achieved a target of Rs 1.8lacs. i have also insured mysel[censored]nder that plan(KSAP). Our trainer who is a regular sales manager at kotak doesnt proceeded my policies of Rs 60000 out of total 1.8 lacs. He deceived me and now dont pick up my phone and replying anything. as i am a student i dont have any source of money and i am very tensed. his name is Mr. Sachin Jain, WORKING as SENIOR SALES MANAGER at kotak mahindra life insurance janakpuri, Delhi branch.
I request you to please take it seriously and check out these fraud persons in insurance field. there are lot of customers whom i know are suffering from the same fraud. sir plz plz plz take it seriously and take it further.
THANK YOU SIR
PRASHANT KUMAR
VILL AND POST - JANGETHI
SARDHANA ROAD
KANKER KHERA
MEERUT
Ph NO. [protected],[protected]

Hi
I am Nilesh Bhure & have kotak credit card.4166xxxxxxxxxxx9135. In Month of April 2010 kotak card sent me statement in which they charge me for CPP assistance Service for Rs. 1295.00/-. But till date have not given any confirmation in verbal or in written for this service to Kotak card.
Then how they charge me ?
When I wrote Email to them, they gave me ph no. for assistance. But nobody responding on same.

They then call me for payment for same month & told me that they don't no about charges & if I don't pay them then will charge me late fees.

So that I suggest not to go for KOtak cards...............

I took a kotak ins policy in Dec2009. I canceled that policy since i was given a different plan, not the one which was offered to me. I canceled it on Jan 10 2010. I went to Bhayandar Tied Branch & gave written Application over there. I was told i will get my refund in 14 business days. I dint hear anything from there end. I sent emails, Called many times but not response. I visited to branch again on March 13, i met branch manager "Chirag Bhandari" he assured he will follow up & i will get my money back on the Apr-05. I awaited till aprill 5th, when i dint get my money bak i called & chk the status, they said nothing has happend yet. i left a message for Chirag to call me up. After few days io tried again since i dint hear anything from them, i asked to connect me to chirag, call trsfd, i spoke to him, he said he will get bak to me in an hour time. I dint hear anything from him again.. Finally on 23 i decided to go & see that whats going on. I went to branch, again i heard the same jazz that i will get it bak in 3 busi days. I asked something in writing this time, since its been more then 90 days & i have not got any doc from there end. I met chirag first he said, he will give me a letter stating that i will get my money at the latest by Wednesday. He asked me to wait, i kept waiting till 7:30PM, Then he said, "i'm not gonna give u anything in writing, i[censored] want u can take legal action, get lost from here, & [censored] off.. do what ever u want to do.. call police, charge harassment, & i will see what the max u can do.

I was completely astonished after listening to this.. It was the most pathetic response i ever heard specially from a Manager. I really dont know how to get my money back.

Monish Kumar
[protected]