[Resolved]  Kotak Mahindra Bank & Kotak Life Insurance — Cheated by Kotak Mahindra Bank Executive

Address:

Meerut, Uttar Pradesh

I am a customer of KOTAK MAHINDRA BANK / KOTAK LIFE INSURANCE and very badly unsatisfied with the working culture and services. As I was very much convinced by the advertisement of KOTAK MAHINDRA BANK flashed on TV and contacted to the nearby branch of my city, which is only branch in Meerut and around 25 Km from my residence but still i chose KOTAK for me and my family. I visit the branch and opened two saving a/c one with minimum Rs.50, 000 and other is of minimum Rs.10, 000 and also purchased two life insurance plans (Policy No. 02597540 & Policy No.[protected] At that time the executive assured us that you should pay the whole-sum only for first year than after it will be deducted monthly for the coming years, but after 11th month(of policy i.e July 2013) I got a sms and email from Kotak Life Insurance that you should pay the Annual Premium for the year. I immediately contacted the Customer Care (Tollfree Number) and they advice me to change the mode of payment from the city branch by submitting the cheque (Cancelled) and ECS forms. I did the same but that time branch is under shifting process and one of the executive received all documents (15 days before the policy maturity i.e August 2013) and assure me to take care the whole matter. But that day and now (Till November 14, 2013) we are continuously following the bank and the Life Insurance office but matter is still unsolved and because of the reason we have closed all the bank accounts. I also purchased a Child Plan (Policy No.[protected] & Recurring Deposit for my new born kid but now I want to withdraw this plan because of the poor services, fake promises and careless attitude towards customer. my conclusion about the organization which is not concern about the customer's present how will it care for 15 years. I fed up from Kotak completely and want my whole amount back as soon as possible. This money is not a big amount for the organization like Mahindra Group, but for us it is big amount. My submission is kindly appoint some good and genuine persons in your organization for its growth.