Kotak Mahindra Bank Complaints & Reviews

I received a SMS alert on 13th October 2008, from KOTAK MAHINDRA BANK CREDIT CARD CUSTOMER CARE DEPARMENT THAT YOUR CREDIT CARD IS ON ITS WAY VIDE AWB NO [protected] sent by Express IT Courier. The SMS said that I should recieve the same within 4 working days.

As the same did not reach me as on 18th October 2008, I went to their Begumpet ( Prakash Nagar )Office at Hyderabad, which also shifted to some other place, without mentioning the place, where they have shifted. Anyhow after I located them, they said that the above said AWB is with their TARNAKA BRANCH and gave their branch no. No one is lifting the phone as on today, i.e.; 20th October 2008 .

Hence, I would request the concerned department to do the needful .

Thanking You .

With Regards.

PARTHO DAS
[protected]

I hold an account with Kotak Mahindra bank, lavelle road Bangalore. Without my concent money is being debited from my acocunt in the Kotak Opportunity fund as SIP . Bank is ot willing to help as they only need time to look into this. On 27 Aug 2008 5000/- Rs debited from my account and on 01/10/2008 1000/- Rs are deducted again for SIP. I have not given any such instruction. But still the money is being deducted from bank. what kind of bank and what banking is this i am clueless. I want to speak to the higher authorities in this regard to know whaat is happeing.

With Regards,
Priyanka Ahuja

Fraudulent misuse of Citibank Credit Card by Kotak Bank Credit Card Sales – Staff.

The above subject which is very disheartening to the cold blooded nature of the Kotak Sales Staff who in the pretext of selling the bank card has misused the Citibank Credit Cards of Mr. Noel Collaco ( Victim ) who is my brother. . This incident has traumatized my brother & is undergoing depression due to the incident. We have been moving from pillar to post trying to nab the culprits & frequent rounds to the police station & Citibank officials have only been the routine for this mistake.

The prime suspect Mr. Raj ( Kotak Bank Field Officer ) has been contacted on several occasion after the fraud has been reported & is absconding out of Mumbai as per his telephonic conversation with ( Hemant ) name changed to unreveal identity .

The main concern & request is to nail the culprit for tarnishing the banks image which should be brought to task on priority which is involving time & monetary stress on the Mr. Noel Collaco ( Victim ) (

Case Details

Day 1:

 Mr. Noel Collaco ( Victim ) had been telephonically contacted by the kotak bank officials for credit card which was positively supported & informed to process the necessary formalities in procuring a credit card of the esteemed bank .
 Kotak bank official Mr. Raj ( Field Officer ) contacted Mr. Noel Collaco ( Victim ) & confirmed a formal meeting outside speez ( Santacruz processing Electronic Export Zone ) – Andheri East as the same is a secured premises & entry within is not permitted .
 The meeting was initiated with form filling request bearing application no.
G –[protected]Rejected on 1st Submission due to lack of documentation) & G –[protected] which was processed (Card yet to be received)
 During the course of documentation Mr. Raj enquired details of other bank credit cards which would support the application in a strong enforcement as it would be easy to sanction the required limits at the time of credit approvals & in the midst of the discussion requested credit card copies of existing Citibank Card No’s ( [protected] ) / ( [protected] ) along with copies of the last statement on record. The cards were physical verified as a part of KYC norms.
 The incident was exactly a week to ten days before the official misuse was performed on the internet.

Contact Details.
Mr. Raj (Mob) [protected] / [protected] (Kotak Official)
Mr. Noel Collaco (Mob) [protected] (Credit Card Customer)

Day: 17th August 2008 (2.00 pm)

 Mr. Noel Collaco ( Victim ) receives a call from the Citibank officials Gurgaon Office to validate payment enquiries for booking airline tickets via the internet for AIR DECCAN airways which was taken as traumatic incident in the subject case the booking was amouting to Rs 60000/- .
 Citibank official (Mr Amit Suri) suggested Mr. Noel Collaco ( Victim ) to head away to Air Deccan office to process cancellation of the tickets on priority which in the end was in vain as the booking was validated by Citibank & the passengers have flown. We could only obtain details of the airline passengers & the booking details as part of our own mental torture to investigate the matter further.


Contact Details:

Mr. Amit Suri - [protected] ( Citibank Official – Gurgaon Office )
Mr. Roshan Balram – [protected] ( Citibank Official – Citi tower Parel Office – Mumbai )


Regards,

Mr. Neville Collaco ( Brother of the Victim – Noel Collaco)
HDFC BANK LTD
Senior Manager
Fort – Branch
Tel No :- [protected] ( Mob[protected] / 22655920

Note :
1) Information collated from Air Deccan, Kingfisher, Jet Airways – Flight Details
2) IP Details of Bookings done through Cleartrip.com for King Fisher & Jet Airways.


CC : Cyber Crime Investigation cell,
Annex III, 1st floor, Office of the Commissioner of Police,
D.N.Road, Mumbai – 400001
[protected]@cybercellmumbai.com

My name is Bharat Sharma. I am working in media (Star News). My views for Kotak was very good. But the experience I have taken last month changed my view. Before I thought that Kotak was one of the reputed company of India but now for me Kotak is a cheater company. I want to share my experience with you. Last Month I was approached by one of the field executives representing Kotak Mahendra for a personal loan Online DSA (Gurgaon) @ 17% Interest rate.. I submitted all the documents required in the matter of a weeks time what Sadiq (ONLINE DSA Owner) told me.



After some day he called me and said that I got approval from Kotak of Rs 200000 for 3 year and rate of interest is 17%. I need a loan of amount 400000 for 5 year but I thought its ok if only 200000 Rs lone has approved. So I informed Sadiq to go ahead. Next day he called me and said pls arrange 7 cheques and sign an ECS Form. I asked Sadiq you are not giving me any document, how much amount of loan have approved, what is rate of interest, loan agreement etc. He replied me that what he told me earlier (200000 RS for 3 year and rate of interest is 17%) will applicable. I thought this is the way how bank work in personal loan. After one week Sadiq told me your loan has disbursed and you will get your loan amount in one or two days. Again I asked to Sadiq pls confirm me rate of interest and processing fee and he answered me that I can trust on him that rate of interest is 17% and when I will get loan amount I will get loan agreement and other documents with that.



When I received a cheque of Rs 197053 on 7 june08 (which has dispatched on 2 June 08) than I get to know that the loan amount is Rs 202105, rate of interest is 19.9% and emi is 7500 for 36 month. After that I called up Sadiq he didn't pick my phone than I called Delhi branch but because of Saturday no body received my call. Then I called to call centre, from there I got clear picture that what is the rate of interest on the lone amount which I got. I was so angry but I have no option than wait. Today 9 June I went to your personal bank branch in Delhi. There I met with Shivani (Customer care) and Preeti in sales department both of them told me that I have signed a loan agreement kit. Than I came to know that what is the procedure to take loan from Kotak. Then I told them that I have not signed any loan agreement kit or any offer letter. In Front of me Preeti called Sadiq and take him on loudspeaker there he said that I offered loan to Bharat on 17% and Bharat didn't signed any document. All documents have signed by me ( Sadiq). You know this is a froud case.



Preeti told me Sorry for that what done sadiq but this loan of Rs 202105 has been approved at 19% for 36 month that mean per lack emi is 3711 which is again wrong according to 19% reducing but actual calculation says it is that 20% as per amount schedule amort tisation schedule. Again she lies me this is at 19%. I don’t know what the hell she is explaining to me that kotak calculation is different. She wasn’t telling me DSA Name and Address Than Shivani said that we are sorry, we unable to provide you loan on this condition (200000 RS for 3 year and rate of interest is 17% ). This is not the way first u killed some one and than u say sorry boss ho gaya. If this is the way by which you treat a media person than I am very worried for other persons.



I am feeling let down and wish I knew who to forward my complain to. Kotak Mahendra seems to be such a big brand name however am surprised why the company is not worried about its goodwill and reputation in the market. If this is how it’s going to go in another six months I will not be surprised if all the people stop interacting or doing business with them. They should understand the importance of good service and the effects of promises undelivered.

I really want to know the answer of some of my question

I want to know that is this the way by which Kotak doing business?

What is your credit department responsibility?

How did you disburse a loan amount when I didn't signed any loan agreement as well as sanction letter?

I need a justification. If I didn't call to your call centre then you will charged me that rate of interest.

I will file a FIR complaint against that DSA. I need address and real name of DSA

This is cheating case . I am worried weather the seniors of the company are interested in personal loan division or not.

I have applied for a new car loan in Kotak through a thrid party(Jeba Associates) outsourced by kotak.They promised me to get 80% of the Ex showroom price of the vehicle, So I signed all the documents and a I gave ECS for loan repayment as well. At the time the associate asked me Rs2400 towards the loan proceesing.
Unfortunately at the time of releasing my loan amount the Associate (Mr.Wahid) to whom I hand over the documents called...

the courier is booked on 20th of sep 2008, today is 28th of sep still date the courier is not received...

My self Ruchin Kumar Thakur

On 15th of August 2008 one of sales executive of Kotak Bank Name Chandan Jha visited my office and offered me to take Credit Card of Kotak Bank so i have given all the relavant doucment to him and applied for Credit Card the Form No. is[protected] than on 15th august 2008 i got a call about verification and on that call i have given all the details than same day i got sms from kotak bank about the confirmation of my application and given application no.[protected] but till now neither i have received my card nor i have the status of my application kindly let me know what is the status

Waiting for your Reference

Regards
Ruchin Kumar Thakur
[protected], [protected]
[protected]@yahoo.co.in

I have submitted all necessary documents along with a cheque of rs 3000 to open a Policy on June'08. Unfortunaely till now there is no information on the processing of the same.My chaque was already cleared before 4 months and money is already debited from my account.my chaque no is 011526 ( HDFC BANK ).I had already talk to customer care for 3 to 4 times regarding this matter but they are not taking seriously..

i applied for kotak card, yesterday i received one massage from kotak card, card was delived on 08-09-08 and ref no.AWB [protected] OF EXPRESS IT COURIER

I dont have any credit card of kotak bank while his collection agent comes to my previous resident for collection of out standing. I come to know the card is issue in name of saket jha.
addrss is 459/101, P.Majumdar road kolkata 78.

dear sir, '
we would like to informe you that this bank services is so worst because this bank says that i am giving a services for phone reminder for balance .cum for chquue pass. but no any phone or if we try to call than no any responce for phone pickup any no in ring road or godroad branch surat .gujarat. in april 08 we closed our three a/c but till now my a/c not clossed. why why why why.

By 31st Augest 2008 @ 12.38 P.M I got a call from Kotak Mahindra Prime Ltd regarding my Car loan EMI payment issue. The tele caller Gayathri called me that time and the way she talked to me was hardly bad. It really hurted me a lot and I was depressed by the way she talked to me. She said that "Rajesh you took the car loan and enjoying with the car without making the payment for EMI".

Regularly I used to make the EMI payment @ the right time(15th of every month). But unfortunately because of some personal problem I could not make the payment @ the right time. Any how I called the bank guy(Thyghu) by 19th of last month(Aug 2008) for making the payment. because of his busy schedule he could not come and collect the payment from me.

Any how for EMI payment delay, she should not talk to me like that. Please take the action on her for not doing such things henceforth to any customer.

Hi,

I got courier till now i didn't receive any docs..i got sms from kotak bank like card sent on 07-AUG-2008 by ExpressIT Courier AWB [protected], till date(13-AUG-08) am not got that courier pls review that, do need full .


Regards,
pk ravikumar
[protected]

Regarding the customer reference no. 15663572, please see the following mail from your account manager, who confirmed that all cheques from no. 1 to 30 are stopped except the cheque no. 18 and 5, still i went ahead and stopped the cheques 5 and 18. After all this, cheque no. 11 was cleared today. WHY? Why was i not made aware of the same? Its not my fault. Its the fault of your Manager.
I need the explaination or else i shall take you to consumer court.

I need the answer for the same.
I have the print outs of all the mails exchanged and also the soft copy of the same as attached in the mail.

I shall advise you to take some step, or else i have to do something seriously.
Regards
Ashish Gupta
[protected]

I was supposed to get courier from Kotak Mahindra Bank (Kotak Card).

It was posted on 28th July 2008.

EXPRESS IT Courier vide airway bill no: [protected].
The express courier guy had come to my home for delivery, But instead of delivery he asked my wife that she want that Kotak card (He pronounced Kodak Card), because of misunderstanding my wife refuse to accept the courier and sent it return.
Shall...

i quit the job before i got my debit card from the company.nw i want it since i will be doing lots of transations & i want my internet banking details as well

Sir/Mam,

This mail is in accordance to a misguidance and false commitment which is being done to me for the past one week.

I am having a salary account with your bank and my account is with Saket, New Delhi branch
I am an employee of DELHI MERTO RAIL CORPORATION in New Delhi
This is a new salary account opened on the 12th of June 2008 as per my sms alert. I received my debit card pin on the 14th of June 2008 at my residence.
After awaiting a week I called up the customer care and got to know that my welcome kit containing my cheque book and dedit card had been returned back to the branch from my residence.

I went to the Saket branch on the 7th of July 2008 and got to know that my welcome kit was never been dispached and an executive of KOTAK named ASHISH having a contact number [protected] has collected it on my behalf. On contacting him he told me he has sent it to my residence address through the courier. I haven’t received it till date.

I spoke to the customer care today and my complaint reference no is[protected].
Now the executive is telling me that he has given it to my HR named Dinesh Singh.

My Complaints:-
• How can my welcome kit be returned on the 14th of June if my account was opened on the 12th of June
• How can a branch hand over my welcome kit to any third person without my consent?
• Who will be in charge if something is missing from my kit
• ASHISH has been misguiding me for the past one week
• As per ASHISH statement he had sent it to me through the courier on 8th of June. Till date he was on this statement. After being contacted from the customer care on a con call he changed his statement that he has given to my HR
• Who will be responsible for my two salary cheques that is lying with me and I’m not being able to clear it.
• I am in a financial mess due to the negligence of KOTAK MAHINDRA BANK
• Who is responsible for the misguidance of ASHISH an employee of KOTAK
• Who is going to pay me for my losses and financial mess
• If I have clearly specified that my mailing address is my residence how can ASHISH KUMAR deliver it to my office

My Remarks:-
• Employees like ASHISH create a bad impression of an organization in the market
• It is the negligence of the branch manager of Saket New Delhi who has handed over my kit to a third person
• If my debit pin can be sent to my residence why not my welcome kit.
• If I am facing this sort of a trouble in the services in the beginning what will be my expectation for the future
• KOTAK has created a very bad impression of itself in DELHI METRO and my references
• When and how do I receive my welcome kit
• Who will pay me for my financial mess
• Should I approach the consumer court for the needful?

Regards,

ANISH KUAMR
Customer relationship number[protected]
Mob. No:- [protected]

Dear Sir/Madam

This is to make you in notice of the wrong practices happening in Agra Branch of yours.
I applied for a Four wheeler loan from kotak Prime in Feb'08 with the agreement number 4444852 in the name of Sachin Kumar, r/o 4, Master Plan Road, New Lajpat Kunj, Khandari, Agra for the purchase of Maruti Swift Vdi from Kavisha Motors, Agra.
The loan was sanctioned in Jan'08. Kotak Prime, Agra branch despatched the cheque to Kavisha Motors. My car was in waiting and after waiting for a long time i cancelled the purchase of car in March'08 as well as i applied for the cancellation of my loan from Kotak Prime.
Even after making the loan cancelled in March, your branch debited 1 EMI from my account. This was a shock to me as i have not purchased the car and the EMI was deducted. I complained this thing to the Branch manager of your Agra branch, Mr. Virendra Gautam. Ever since i tried to contact him for the enquiry of the EMI deducted from my account, he always gave me the same reply that the things are in process.
I am waiting since march and till date no action has been taken. Latest i got the reply from your branch that they will refund the deucted EMI but the canellation charges will be levied on that amount.
This is the limit of the harassment that your branch and employees are doing to the consumers. Why i should be paying the surrender charges when it was the mistake of the company of deducting the EMI from my account even when the loan was cancelled.
And the second thing is that Kavisha Motors enjoyed the amount of loan for 2-3 months, so they should pay the cancellation charges. What i have received from your company and Kavisha Motors is only and only harassment and nothing else.
My request is to take immediate action on this matter or i'll be forced to present this case in the consumer forum.
You are open to call me on my number- [protected].

To,
IRDA (Insurance Regulatory Development Authority)
CC:, J.Hari Narayan (MD IRDA), Gaurang Shah (Managing Director kotak Mahindra old mutual life insurance)
(Sub – Application for Reduction of Premium or Withdrawal of Policy with whole Sum.)
Sir/Madam,
I Inder Deo ram a policy holder of kotak Mahindra old mutual life insurance, policy no.[protected] & client ID – 50353901. Like to inform you that: - at the time of sale of policy, Sales Manager (Hemant Bhatia) & Branch Manager (Sanjay Bajpai) told that you have to pay Rs. 50, 000/- for first year and 15000/- for the next two year respectively. And same has been confirmed by Mr. Sanjay Bajpai (Branch Manager) & Hemant Bhatia(Sales Manager) thrice Before purchase of policy and twice after receiving the policy. At the due date the Rs. 15000/- had paid as second premium of policy through cheque and payment is also cleared through bank, but after few days we received the letter of policy revival along with the cheque of Rs. 15000/- as we confirm from the office they told to deposit Rs.50000/- as premium. For this miss-selling and false commitment. They also misguide us from September 2007 to till date. I also mark mail to the ombuded person Mr.Deepak Shaluja(Vice President of kotak Mahindra old mutual life insurance) and had word on telephone they refused to take responsibility of the Branch manager And sales manager and false commitment made by them. And said “I Don’t know who is Hemant Bhatia & Sanjay Bajpai. And Do what you can” now today no one is answerable at branch office of kotak Mahindra old mutual life insurance situated at Kanpur.
Presently Hemant Bhatia is working with ICICI Prudential & Sanjay Bajpai is Area Manager for TATA AIG.
Request to you to look into the matter and provide the best solution as soon as possible for it because I am unable to bearer the lose of Rs.50000/- else request to help to withdrawal the my Rs.50000/-
And please return your answer by Post as soon as possible.
SS IInd 817-18 Sector D1,
LDA Colony, Kanpur Road,
Lucknow-226012 Uttar Pradesh.
Mobile No. – +[protected], +[protected]

Thanking you
Yours sincerely

(Inder Deo Ram)

dear sir,
i am giving this mail because my problem is not solved. last time they are saying for the settlement but now they are saying that i have to pay that much amount.as i have got the information from angel main office that if you inform at the same time then we can solve and setteled your problem, all ready i am giving information to their sub broker 'mr.ajay singh' from 8th may 2008 and they make me fool by saying that we are solving your problem.now from lucknow phone is comming that you have to pay, also i have given information to lucknow on 8th may 2008 to mr. ashwani the same thing he has also said, now you can decide that whose fault is this from my side i have not done any fault also i have mail them for all my details to give like my "log details, my order book details means how much accepted and rejected, trade comfirmation report.sir i am totally disturbed from last two months
please solve my problem and give the final conclusion.
regards
mahesveri rai
[protected]