Kotak Mahindra Bank Complaints & Reviews

Even my application was rejected. Later they told to open an fixed deposit for getting the credit card. So i handed over a cheque of Rs25, 000 to an executive in the month of march & it was credited in the same month. After that i repeatedly sent mails & made calls to kotak customer care for the card. The customer care executive always said that it is in process & to call back after a week. I called them repeatedly for 3 months but it was still in process. Fed up by calling them for card i told them to cancel the card & acknowledge me. Still kotak bank has not acknowledged me weather the card is cancelled or not after repeated reminders from last 1 month.

More over i had to walk-in to the branch after 2 months to collect the receipt for the fixed deposit, until then they didn't even had courtesy to mail it to me the reciept. When i wanted to cancel the fixed deposit, they again convinced me that i will receive a card within a week.

So please never open an account or have any dealing with kotak bank.. you will lose peace in your life & spend your valuable time calling & writing mails to customer care. whatever interest they are offering is spent on making calls & visiting the bank. i had one of the worst banking experience with kotak bank.

I have felt that i have been harassed a lot by kotak bank. Is there any possibility of receiving the term-deposit amount with interest back from kotak bank without visiting the bank. Even i am fed-up & decided not speak anymore with shameless & useless kotak customer care.

My Customer Relation Number: 29759140

I JUST WULD LIKE TO KNOW THAT Y MY APPLICATION HAS BEEN NOT APPROVED, I DIDNT EVEN GOT ANY CALL FRM YOUR SIDE, THEN BEFORE ASKING ME OR GIVING ANY INFORMATION HW CULD U DO THAT, AT LEAST BEFORE DOING ANYTHING JUST INFORM ME OR JUST SEND ME THE REASON,

Kotak Bank is a fraudulent organization. First they harassed me for taking the card and when I submitted my documents, I started getting calls for kotak life insurance and similar products. I have still not heard about the status of my credit card application. It has been well over 3 months. When I called them they said that they had cancelled the application. When I asked for a reason, they did not have any. They said they would start the process again. This happened twice. It is ridiculous. I really doubt the credibility of this organization and feel pity for citizens like me who cant do much but bring it to the notice of other citizens on a forum like this.

By seeing these above commnets I am feeling good that my Credit card application got rejected . Inspite submitting all documents as per thier representative & a very good credit card payment history & finally getting a letter saying that my application got rejected is not worth having a credit card with this bank . I not only doubt the credibility of the bank but also, the way they work ... I am sure would have benn in much deeper trouble, if I hold a CC of theirs !! SKS

u r 100%rite sir...
m also facing the same problems..guide me wht to do

Hiiiiiii Sir,

I had open an account in Kotak Mahindra bank Karol bagh branch New Delhi on feb, 10 But still I did'nt receive m ATM Card & Cheque book.Please take a necessary action against this matter & please let me know as soon as possible.Because without my atm card & cheque book i can't use my account & i m not able to deposit money in that account.

My Name Is Kunal Rana & No. is [protected]

From:- G. Vijaya Lakshmi, President, Sri Pooja Educational Society, Visakhapatnam
To
The branch manager, kotak mahindra bank limited,
Dear sir,
Sub :-Closing of Bank Loan-Return of Advanced Cheques and the documents pledged with bank-reg.
I bring to you kind notice that an amount of Rs.35, 00, 000/- is taken as loan from your bank vide loan agreement No. cited in the reference (SA-250647). The above loan amount has been cleared in vide cheque No.692927 Dt.29/11/2010 (ie., 17, 37, 000/-). Hence I reuest you to stop sending advanced cheques submitted to you and also return the remaining cheques that are given to bank and also return the original documents that are submitted in the Bank at the time of taking the loan, as the loan amount is completely cleared.
Thanking you sir,

Thanks
They ware trying to Call me. I was busy with another call. Than I seared and found your comments

Thanks Again

paid on time ha ha aha ha ha - sale gadhe terms ke fine print to dekhta nahi hai - saare cards ke calculation automated hoti hai - agar delay hua to bas interest lagega he from the day of purchase - akal to hai nahi aur plastic use karta hai.

arre mere paas aa ja rubber use karuga tere uppar

Ullu ke bache dekh to le likha kya he. Interest deducted after 20 days even after paying the amount. They should have deducted for outstanding. Even the outstanding was for not more than 20 days. Saale padte he nahi fraudiye aur chalu ho jate he.

That is why if you are taking a credit card then take only if you will not pay the credits. I have done that and nobody can do anything except calling. Ha Ha Ha

Mr Phalvinder who portrays himself as an employee (which he is not, he is a contracted employee) of an esteemed organisation (SANSKAR INFO PVT LTD)has been creating malicious case of cheating and fraud against us for reasons
only known to him & has been using the company for all his misdeeds and PUTTING THE COMPANY'S REPUTATION AT STAKE

Mr Phalvider Padam Singh Alias Pappu ([protected]/[protected]) residing on rent at 101/1st floor Pushpameet Bldg Datta Mandir Road Dhanukarwadi Kandivili west Mumbai who approached me through one of our common friend Mr Sunil Nattani(his estate agent as well for flat purchased in miraroad)for loan against his Hyundai Santro car bearing Registration No.MH02BM2933

Mr Phalvider wanted to buy a flat at mira road for which he was short of some money and hence he applied for loan against his santro car

All terms and condition regarding the loan and were explained to him in prior for which he had agreed as well

All requisite papers were provided to us by him on the pretext of availing the loan which eventually got approved and the rest of the post disbursement formalities with the bank had been adhered with and completed

For some or the other reasons, probably he was into an illusion that his Home loan from Dhfl had got approved, this guy was dilly dallying with the car loan applied through me and eventually asked me to cancel it which I again adhered to with utmost humility

Unfortunately his Home loan application in DHFL got rejected and he was left at sea

The person somehow become so restless and frustrated for reasons known only to him that he has started creating a malicious case against us by levying stupid and baseless allegations on us that we have taken some odd amount of Rs 17, 000/= on the pretext of bribing an officer from kotak mahindra bank

Moreover Mr Phalvinder has been defaming our name in kotak mahindra and in our neighboring vicinity as well

he never came to our office for submitting his documents for loan
application
we had personally gone to his residence AT HIS REQUEST on 12/04/2010 at 7.00 pm to
collect the same which was completed on 15/04/2010 at 12.50 pm(rc and
updated bank statements where mailed to me) and eventually all papers
where forwarded to kotak for further process
since then we have never been to his place in fact he has been coming to
our office

once the case was through we did call him on 17/04/2010 so as to
complete the post disbursement process of getting into an
agreement, giving us the pdc's, getting ecs mandate verified etc which
he did as well
it was the customer who was into hurry so as to service him we asked him
to submit his original rc book and insurance for endorsing
hypothecation of kotak mahindra prime ltd (so that he could have the
disbursement cheque in his hand) THE RC BOOK WHICH WAS GIVEN TO US was eventually forwarded to bank's empaneled rto agent Mr kuljeet

we did call him on 18/04/2010 so as to give him the details of his
loan disbursement which he patiently did listened to and was OK with it

tomorrow he will have a withdrawal of Rs 42, 500/=from his accounts(Bank
of Baroda and Central Bank of India ATMs)
and state that Rs 16000/=was given to us and rest of the
money(10%) amounting to Rs 26, 500/=given to an employee of kotak to get
the loan done and will claim the same

what on earth is he trying to prove ?

how can one stoop this low?

moreover he never told me to cancel the loan

he just inquired can it be delayed for a day and what are the charges in case if he forecloses the loan

in case of customer foreclosing the loan we did tell him
that you will have to bear a prepayment of approximately 6% on the
principal outstanding amount(6% of Rs 2, 65, 000/= is Rs 15, 900/=)

if at all we had anything to hide we wouldnt have given him the
whereabouts of kotak mahindra prime ltd and Gaurav's(relationship manager -used car loans mumbai) number

we have lodged a police complain with malad police station as well
also to add salt to injury when we went to police station he confidently alleged the same and one of his associate accompanying him even offered is to settle it out of the police station which we outrightly denied

he has been using the company"s brand as to threaten us and the bankers as to that he will post it in the news channel and news paper

he has been using the company for all his misdeeds and PUTTING THE COMPANY'S REPUTATION AT STAKE
as for applying loan for his home from dhfl, he had stated all wrong information

IF NEEDED CAN VERIFY THE SAME WITH DHFL(Mr H Rao (nos. and mail id can be provided if need be)
AS PER HIM
CUSTOMER IS OF BAD REPUTE AND HAD IMPARTED
FALSE INFORMATION WHEREVER HE APPLIED FOR LOANS ALSO HIS LOAN FORM DHFL
HAD BEEN CALLED OFF EVEN AFTER ISSUING HIM A SANCTION LETTER
HE IS ONE OF THOSE PEOPLE WHOSE INTENTIONS ARE DUBIOUS
AS IT IS HE HAD GIVEN ADDRESS OF YOUR ANDHERI BRANCH WHILE APPLYING FOR THE LOAN, WHICH WAS SENT FOR VERIFICATION(Mr PHALVINDER WASN'T AWARE OF THIS)
ON VERIFYING THE BANKERS REALIZED THAT HE DOES NOT OPERATE FROM THERE
THATS WHERE THEY FOUND SOMETHING FISHY AND INVESTIGATED THE ENTIRE CASE AND DECIDED AS TO NOT GIVE HIM THE LOAN
moreover he has been projecting HIS OWN company in bad shape by stating that in-spite of it being so big company they have been returning his commission cheques,
when asked if the contracts get over what will he do for HIS LIVING, he stated that he has already created his own referrals working with SANSKAR INFO PVT LTD and is no more depended on them
and that he already has projects lined up

yes of course in police complain we have mentioned about our consultation charges which is irrelevant all we want from this guy is an apology letter

Subject: - Reg .N.O.C. ( no Objection Certificate) against Loan no CF 6311469
Sir
The Applicant was given a Loan amounting to Rs 202407.00 Vide agreement No CF 6311469 dated 20/09/2010 the Loanee has paid (four) 4 Installment of a Rs 7080.00 each out of which one cheques was bounced in the month of February 2011 to which the loanee has asked you not to intimate the cheques against to the bank the amount of Rs 7080.00 of bounced cheques will be adjusted at the time of final payment accordingly a Fore Closer Dated 15/03/2011 for Rs 190066.00 was presented to the applicant and the applicant has made good the same vide payment Receipt no[protected] Dated 15/03/2011 in which the amount of bounced cheques for Rs. 7080.00 was adjusted there and does not remain any amount to be paid.
It is further advice to intimate me in black and white the amount was due to bee paid to KOTAK MAHINDRA PRIME LTD in detail and the total amount already paid (payable-paid) by the loanee to K.M.P.Ltd. however as per record of payment and fore closer the loan has been finally made good.
It is further requested that “N.O.C.” may kindly bee issued in the favoure of applicant within 10 (ten) days of receipt of this letter .

-kotak mahindta prime staff as far as my experince goes does not stand to their words and cannot be trusted.For them every statement/ every promise they make, must be supported with a writthen proof.hence comments by mr yatin seth cannot be taken on face value.

-My loan acct no-4353680. I had requested for no due certificate from new delhi office on06 jan 2011 as the loan amt had already been cleared on 21 dec 2010.The company rep (mob no-[protected] )confirmed the repayment of the loan amt and assured me to forward the certificate within a week. thereafter whenever i asked her about it either she was not in office or promised to do the needful at the earliest, till date i have not recieved the requisite document.
- on 06 may 2011 i got a shocker when i was informed on phone that there is some amt outstanding against me. i have been told that the amt is on account of not stopping ECS while last six EMIs were paid by cheaques. here it is pertinent to mention that through above mentioned mob N0 I had spoken to one of the officer in recovery deptt on the issue and the officer had requested me during June 2010 to repay the remaining EMIs through cheques as there was some technical problem in company's system which had become a recurring phenomenon, accordingly i despatched six cheques with a letter to stop recovery throughECS.
- as far as going to press/media is concerned that is the only option left with a civilised and ordinary citizen of this great country. Really not expected from such a reputed firm.

Kotak Mahindra Prime or any other loan provider: (1) Make sure you clearly get a signed information on what the different charges are, (2) Make sure that all commitments are signed by the Executive/Loan Officer, (3) Make sure that the loan repayments are scheduled towards the end of the month - while you may pay by a certain date, it actually gets credited to the loan account (4) Ask for the amortization schedule in advance, and (5) Make sure that you read the fine print on foreclosure charges etc. A lot of this can be wool over your eyes - they may offer discounts but cover up the difference by introducing all kinds of charges.

The rating is 1-star because most of the executives sell a product because they want to meet a target, and do not care about customer's interests.

I had a similar experience and I fully empathize with you. These people use our money in name of cancellation and as per their whims and fancies and may return it when they are fully done with it. Thats why even though a little slow LIC is always preffered regarding policies and claims too.

Now you know why LIC is preffered over all other policies and claims. Take a look at their claim conversion ratios and you will know why private players should not be trusted.

You can approach the Consumer Court if they are using delaying tactics to refund your amount. Go in for a more trusted insurance company instead of flying advertisements

Dear Sir/Madam,

I am a policy holder of Kotak flexi plan ii regular and my policy no. 00996632. and client ID[protected]

I would like to know the status of my policy as i have to submit my third installment of premium.

As i am an NRI and now in india (Kerala) on my vaccation, i want to pay it urgently.

Kindly send your reply on [protected]@gmail.com

Awaiting your reply at the earliest

Thanks & regards

Anny Verghese

Flexi Plan — Statement required

Dear sir,

I am a policy holder of kotak flexi plan, but i dont get the statements at regular time so please do send the statement to

my E-mail address.

My policy no:01110157

My client Id no:51645967

Dear sir,
I am your polish holder no 01214970 name kalpana sing want to confirm that my police is corect or not I can not understand because the agent do not deposit premium write time so you confirm me my third premium deposit direct how.

thank you,
kalpana sing
[protected]@rediffmail.com

Dear sir,
Myself, Rajesh Suryavansi, I am Kotak Life Insurance Policy Holder. My Policy No. is 00802714. Plan name "Kotak Flexi Plan". Please send my all policy statement in my e-mail address. E-mail ravindra.[protected]@yahoo.in

Dear Sir
I had taken your KOTAK FLEXI PLAN II( Policy no[protected] .
We required my investment status.
So please confirm me what is the status of my policy &what will be amount.
Please send me all details on e-mail ID.
E-MAIL [protected]@gmail.com or [protected]@yahoo.co.in

Dear Sir
I had taken your KOTAK FLEXI PLAN II( Policy no[protected] .
We required my investment status.and if now i stop this policy how and when the amount i return
So please confirm me what is the status of my policy &what will be amount.
Please send me all details on e-mail ID.
E-MAIL [protected]@rediffmail.com or [protected]@gmail.com

Dear Sir,

I had taken KOTAKFLEXIPLAN(policy No.[protected]
We required my investment status and if now I stop this policy how and when the amount I return
so please confirm me what is the status of my policy& what will be amount.
please send me all details on e-mail ID [protected]@gmail.com

I had taken Kotak Flexi plan II (Policy No[protected]

We required my investment status and if now I stop this policy how and when the amount I return
so please confirm me what is the status of my policy& what will be amount.
please send me all details on e-mail ID [protected]@gmail.com
I want to surrender my policy because it is totally fraud.I advice to all persons please not taken any policy of Kotak because I had taken above mentioned policy on 17 Oct 2011.which loss to me 50% of my principle amount.

Dear Sir
I had taken your KOTAK FLEXI PLAN 2 ( Policy no.[protected] from 5-8-2008
We required my investment status.
So please confirm me what is the status of my policy &what will be amount.
Please send me all details on e-mail ID.
E-MAIL [protected]@gmail.com

IMPS Timed out - Money didnt get credited back

Hi, My account got debited for the amount of Rs:60000, saying IMPS timed out, beneficiary account credit status unknown. Till now no update on it. Below are the details. IMPS Ref No:[protected]