Kotak Mahindra Bank Complaints & Reviews

please dont give me call for your products as i am always busy in meetings

register your number on http://ndncregistry.gov.in/ndncregistry/index.jsp then you will not get any disturbing calls from any company.

I think this is happening to many banks. While offering credit card they add some insurance without consent of customer. And even if asked to cancel such charges through telephone the (bank) representative doesnt accept request to cancel such charges.

It is very attitude of banks.

i apply a kottak card not a single person calledme .i applyed on 1 st week of jan.can u tell me what happened about my card. my mail id is [protected]@gmail.com

FRAUD[protected]--------KOTAK SMART ADVANTAGE PLAN[protected]------FRAUD

UIN Number: UIN-107L043V01
Policy Number: 01499898
Premium: 50, 000 (Yearly)

Some agent duped me into buying this policy(KOTAK SMART ADVANTAGE PLAN) of KOTAK in 2009.

I was told locking period of 3 years after that if i wish i can continue else withdraw my money easily without any charges. Also was told many benefits also that will get loyalty bonus every five years and blah blah.

But when i payed my subsequent premiums. I saw my 1st premium is not in my fund value. This was never told to me that first premium is not invested.

When i called up the customer care and asked about quitting the policy they said, first premium wont be payed back also further forfeit charges will be deducted from current fund value. This is shocking even after 3 years which was supposed to be locking period nothing changed and i am duped.

They say you have to pay premium for 20 years without fail then only your first 50, 000 will be payed along with else.

As per 25-Nov-2012 My policy status

Amount Payed By me: 2 Lakhs( 50K X 4)
Fund Value: 161919.59400

I guess i would never match to original amount. I cant forfeit that will take half of my money.

So this comes out to be total trick fraud to keep a person paying. He can never quit from this loop hole.
I have seen Many people being part of this fraud by KOTAK. Many have forfeit their policy and KOTAK snatched their almost 50% of the money.

MY HUMBLE REQUEST TO EVERYONE ...PLEASE DO NOT GO FOR ANY POLICY OF KOTAK...THIS KOTAK IS MOST FRADULENT OF ALL..I haven't seen any such case with any other bank.

I have written my complaint to them 2-3 times on their website. Never ever got a single reply. Even after few days my request/complaint automatically gets deleted.

All i want is either Kotak should contribute my first installement in my fund value and add the interest equivalent to what i should get in 4 years at NAV price of the fund i will continue with my policy for sure on these terms... Or ELSE allow me to forfeit the policy and give my 2 lakhs back . I don't want any interest just please return my original amount atleast .

dont book produsts in GIFT360 . fake products. I bought Reebok watch . but is a china make. not worth even Rs.150.00 But told that wouth 3549.00 but giving for 599.00 .FAKE FAKE FAKE..

Banking Ombudsman
UP Region
R.B.I. Date:[protected]
KANPUR

SUB:- Non Issuance of NOC

Sir,

I had taken a loan from Kotak Mahindra Bank, Agra which was duly repaid by me by 48 EMI (Last instalment was paid on April 2009) cheques drawn on Allahabad Bank samad Road Aligarh (UP)

When I asked for the NOC, Kotak Bank demanded further Rs. 5907/- on account of alleged delay in remittance, by requested to the Bank (Copies of correspondence attached) have not been attended to.
I request you to direct the Bank:
i) To issue the no dues certificate
ii) Avoid damages towards cost of correspondance and mental herassment.


G-2, Guljar Nagar Yours Faithfully
Ramghat Road, Aligarh
Parul Garg

my loan a/c num is STL158047
please send me statement of my personal loan on my mail id [protected]@yahoo.co.in
MY NUM IS [protected]

Dear Rajan,

We're sorry to hear about your experience. Please write to us with your contact details and account number at [protected]@icicibank.com. We'll contact you and work to address your issue.

Regards,
ICICI Customer Service Team.

Thanks ... received my amount today.. after 30 days..

Dear Rajan,

Thanks for the feedback. We hope to continue to enjoy your trust in the years to come.

Regards,
ICICI Customer Service Team.

Dear Respected Consumer Court,
I want to highlight how kotak Credit Card company is looting innocent n sincere clients by misleading information and unlawful and cheating calculations.

I am having Kotak Mahindra Bank Fortune card No-[protected] from last almost an year. I am very particular & very much regular about my credit card bills payment, all these months i have always paid all the bills very well withing due date and I am having excellent payment history.

Last month in November I was having some financial crisis so i couldn't paid full amount (Rs. 4421/-) but still I paid Minimum Amount Due (MAD) indicated in statement (Rs.3484/-) right on the due date (on 23/11/2009). Statement date for my card is 5th of every month & payment due date is 23rd of same month, so on 5/11/2009 statement was generated & 23/11/2009 was due date on which i paid Rs.3484/-

As per the normal rule, all i knew was that they will charge me interest at the rate 3.1% per month so i innocently assumed that they may charge me 3.1% of the unpaid amount i.e. Rs.937/- and that comes to approx. Rs.30/- (3.1% of rs. 937/- as I had paid Minimum Amount Due which is approx. 78.80% of full amount) but i got almost heart attack when i received my statement next month (i.e. December 5)

In 5/12/2009 statement Kotak bank has charged me interest amount Rs.204.12 + Service Tax Rs.21.03 Total Rs.225/- (which i was expecting to be approx. Rs.30/-). The amount unpaid was just Rs.937/- against which they charged me Interest of Rs.225.15 and that comes to 24% for one month.

When I contacted Kotak's Customer care the officer on line told me that when we pay minimum amount due, they charges interest on whole amount from the date of the first transaction in previous month of the month when statement was generated and he accused me to not to read the booklet provided with the card.

Dear sir do you think that this is Fair by any point of view?? These credit card companies willingly provides us 42 days of credit period but does this gives them license to rob us by slapping 24% interest on unpaid amount for one month?? in this way the annual interest will be 288% can any government allow this kind of daylight robbery???

Most of the people don't get sufficient time to read fine prints in thick booklets given by the company (and their language is so complicated that one can't get it correctly even-though anybody may read it and they keeps so many loop holes and sub clauses that persons gets trapped in it) and they always mentions that interest will be charged at the rate of 3.1% Per Month so its very natural for anybody to assume that when the minimum amount due is paid as per Credit card statement they wont be charged for full amount, but in actual practice these cheaters do collects minimum amount and then they charge interest for the collected minimum amount due + difference amount too, this is highly unfair. I have paid 78.88% of the full amount and yet they are charging interest on the amount they already received and that to for approx. one and half month!!!

First they are collecting minimum amount due and charging interest too on the same collected amount !!! This is ridiculous and highly unfair.

I feel credit card companies should only charge interest on amount they have not received on due date, when they are receiving minimum amount due right on the due date they don't have any right to charge interest on that much amount, but yes they can charge interest on unpaid balance amount which is their right fair and reasonable thing to do.

I request respected consumer court to intervene in this matter and please take this point as Public Interest Litigation (PIL) as thousands of people must be getting robbed by such cheatercredit card companies and they are making crores of rupees in this unfair way.

Please do the needful in the matter and stop such cheater credit card companies from looting innocent peoples.

ANISH DESAI
[protected]
[protected]

I have faced the same issue from Kotak Bank. I have been a loyal customer of Kotak. My Salary account was also in Kotak initially. After having spent more than 7 Lakhs on their card, during the month of August, when I had a bill of 82000 out of which I paid 62000, I was charged an interest of 5600 for an amount of 20000. Being a loyal customer, I requested for a wiver which was refused.
In April the billed me much lesser than the actual amount and charged me for the entire amount. How am I to know how much to pay when the bill is lesser than actual. I was forced to call Kotak atleast 20-30 times for clarification on the same.
I raised a Grievance Redressal complaint on their site more than 2 months back and have received no reply from them for the same. The customer care centre informed me that they will not reduce even a rupee of interest charges and I am free to take legal action.
Such bullying by big banks to helpless customers is not right. Kindly help me pursue legal action against Kotak. I am clearing out the credit card except for 24000 o[censored]nfair interest amount. Will pursue legal action for the same.
Regards
Vignesh
[protected]

Kotak Mahindra Bank — misleading information

I have asked for two year loan they promised 7 assured me verbally two year loan is sanction But when papers came it is three years customer care numbers are not working email Id is not working no names no person is giving any help.

They are all bloodyfools who are running the bank going the way which Lehman Brothers have passed.
god bless these bloddy fools

Hi

This is a very simple issue for resolution. You need to proceed as follows.

(1) Call the Kotak Contact Centre and fax them a copy of your Bank Statement which clear reflects the Charge Debit and Chequ Number. Also check that you had written the Card Number correctly

(2) They will have to reverse out all charges (Late payment as well as Interest)

(3) If they refuse write to Nodal Officer and then to Banking Ombudsman and keep all the documentation.

If what you are saying is correct, you have a very strong case and you cannot lose.
Do let me know if you need any further clarifications. Feel free to write to me at Ask.[protected]@Gmail.Com

You can find very useful information on Credit Cards on the folloiwng Blogsite. Do go through and let me know your comments.

www.simplybank.blogspot.com

Warm Regrds.
Pranav

hi,
i am Bhupinder Singh, working in a private campany.

hi, i am Bhupinder Singh, as today i went to cash from one of the ICICI ATM, Rs 500.00, But the link failed and the amount was deducted, and the amount was not recieved, As my previous balance was Rs 1020.00, again i tried from the same ATM, i recieved the amount Rs 500.00, But the balance is Rs 20.00,
i would be thankful to you, if you proceed my camplaint and fullfil why it happened so.
Thanks

Sir,

I was working for Teamlease (Employment no 96150) and kotak mahindra a/c No.- .10443039 teamlease

I left this company in 2007 and joined Central Bank Of India which is A/c No. is [protected] .I had requested please transfer my pf amount in central bank of india i had complaint already many time and nobody taken an action . Kotak mahindra CP Branh employees said that ur a/c had closed sir do me favour please arrange my pf and transfer my amout into my bank account..[protected]
Kindly take some action awaitin ur reply

Sir,

I was working for Teamlease (Employment no 96150) and kotak mahindra a/c No.- .10443039 teamlease

I left this company in 2007 and joined Central Bank Of India which is A/c No. is [protected] .I had requested please transfer my pf amount in central bank of india i had complaint already many time and nobody taken an action . Kotak mahindra CP Branh employees said that ur a/c had closed sir do me favour please arrange my pf and transfer my amout into my bank account..[protected]
Kindly take some action awaiting ur reply

Dear all,

I was working with kotak mahindra bank ltd. and my emp. id 17254 . just i known the pf form sent to which address.

I was working in kotak mahindra bank at defence colony new delhi 110024. This is my salary account no. [protected] and CRN 17780365. I left kotak mahindra bank on 3th sep 2009. In the month of Oct 2009 went to paschim vihar branch then i submit my closer letter. They say that this is salary account firstly you connect with HR department. I connect with HR department in the month of 10th nov 2009. The HR told me that firstly full final credit in your account and after that you closed that account on urgent basics. My full and final credit in my account on 15th dec 2009. No branch call me to AQB balance. i submit a request to customer care to closed that account. They told that i forwarded this request to bases branch then they connect you.Till date i am not receiving any call from branch side. I checked my account on 2nd jan 2010 there was some charges like AQB balance. I also filled the feedback and submit a request from my net banking service on 12th march and 14th march 2010. I am not paying any charges to branch. Please close this account on urgent basis.

Kotak Mahindra — Illegal Construction

One of neighbour had constructed a complete floor in Krishna Nagar area his Name is M.K. Bhansali a resident of E-7/11 Krishna Nagar Delhi 110051. He not only consturcted the complete floor but to hide his construction he make the walls painted side by side, if you come and see you will only find a newly painted house of Mr Bhansali. This person is so much non sense after his construction all his neighbours are getting problems like, leekage in walls etc. You can come to this address and ask his neighbours about the construction all are so much frustated and let you know the complete story of them. They had even 3 feet outside his boundry construction also and which is very much illegal. Pls help us in rsolving this problem we afraid that any time that floor will come to our roofs. Come and have a look on that contruction and talk to neighbours this is not a 2 months old construction.

Pls don't disclose my name and help us in getting the justice.
Pls take the immediate and neccessary action on this construction.

Thanks
Yashpal Sharma

Kotak Mahindra — non delivery of credit card

AWB No:[protected], Courier dispacthed on Dated 17th Oct, 2008.
i received a sms on 20th oct 2008. from kotak bank that my card is dispatch on 17th Oct 2008.but till now i have not received a card. i took contact no from kotak bank &call more than 50 times but no response is from u r side (not receiving of phone /switched off / network busy) one times they have received phone on 21st oct 2008 & said u will be receiving card by tommorow but not received. i have EXPRESSIT phone no. 32655761/32521294 this phones are only for ringing no one for receiving the phone

i am R. sarveswaran, i was create a new account in your bangalore branch on 17/10/2008( sat)... but till i not receiving any pass book, ATM etc... for personal accout i paided 10, 000... for create account... so please reply to mail or call my mobile no [protected]... reply must...
thanking u

dear all,
sir iam kotak mahindera bank employee from last 2 years in hyedrabad in collection department.of persional loan wich is known as stpl.collection
without any information they are termenetted me on 5 dec 2008.
every month my performence is good.
when i asked about reason they are saying we got mail from mumbai to termenated you.
this month i cant join any where. now my position is very bad.now iam helpless
i hope some higher official look in to matter and do the needful
i spend my 2 years in kotak i never expect this from kotak

I got a sms saying "we tried to deliver ur consignment today...please contact immediately ExpressIT on 32521294/32655761 ... But i wasn't expecting any such courier. when tried to call back this number no body picked up

This company keeps calling my father (who is a senior citizen) over and over again for investments, inspite of telling them that he has nothing to invest and they should remove his name for their calling list. They have not stopped calling and this has become a total harrassment. Today a lady named Shobha called, and when I told her to stop calling this number or else I will complain ... she had the nerve to laugh and said "Who are you going to complain to"? This is the kind of people this company hires to do their calling. She was really very rude, so obviously I told her off. I want this stopped and a complaint registered against Shobha and the company. I would appreciate it if someone responds to my email. Thank you.

The Kotak Mahindra representatives randomly pick up any number from their hacked phone directory and keep disturbing people by calling them and try to sell their stupid policies. Daily I receive at least two call from them and the first question asked is “Is this a local number? I would like to give you some information about an offer” Here are few Kotak Mahindra blacklisted numbers from where the calls originates. Please do not accept any calls from these Kotak Mahindra blacklisted numbers unless you want to listen their jargon and buy something stupid for which you will be regretting your whole life.

Kotak Mahindra blacklisted numbers:

[protected]
[protected]
[protected]
[protected]

I agree to it. You wont believe these guys called me up at 4.30 a.m. to sell whatever policies they have. Its too much..how can they call at that time?

I have also got call from [protected]...many time and could nt listen anything...when i called back at the same no.. my amount has deducted but phone never rang up!!! its very apathetic for kotak...

I have also received calls from [protected] so many times

They are right, i too have been getting calls from[protected] sometimes at 0100 am, yesterday at 02:30 am. I dont know what are they upto. the concerned should really take some actions for these buggers or if this number belongs to Kotak Mahindra, the owner should be put behind bars. Then only there would be a crack down on the employees.

Hi,

I have been receiving innumerable calls from Kotak Mahindra for the last several months. Inspite of telling the agents that I am not interested in any of their offers, they continue to call me. Today, I asked to speak to the supervisor because I had enough. He kept fighting with me on the phone and arguing and refusing to hear me out, saying they are helpless and unless I register in DNC they will keep calling me! This was very frustrating and today itself I registered my number on National DNC. However, as I see from comments here, people are receiving calls even after registration on DNC. Any solution to this? Can't customers have a choice in saying 'no' to telemarketing calls??

Kotak Mahindra — Did not receive Credit card bill

Hi,
I did not receive credit card bill for the June billing cycle. However, i did pay the bill on time. How can the credit card department be so irresponsible, when they know that the penalty charges/fine is too high if a user defaults on the bill after the due date. Will Kotak take responsibilities if a cutomer forgets to pay the bill if he doesnt receive any ???

Kotak Mahindra — Sales / Marketing Calls

Dear Sir / Madam,

This is in reference to the sales calls from Kotak Mahindra which keeps coming twice everyday. I have politely declined and infact asked the CSR to mark my number as "Do not Call" but in vain.

I have also requested to transfer the call to a Manager to explain that I dont need their product, where-in I was put on hold and then dropped off.

Dear Mr. Kumar,

We apologize for the inconvenience caused to you due to the calls; however, they are only an endeavor on our part to keep you updated on our latest products. In case you wish to stop receiving such calls, we request you to register for the Do-Not-Call facility at the following link:

https://www.kotak.com/j1001card/CardStatus/donotcall.jsp

Please note, it may take us up to 45 working days to have your contact details de-listed from our database. We request you to bear with us in the interim.

Regards, Kotak Support Team

Kotak Mahindra — Harassment call

Dear Sir,


Weekly two to three times i am getting call from this no [protected] that lady named jothi some times neha she demanding money this call is haresement call please trace this no and find out the problems.

Thanks
Arun