Kotak Mahindra Bank
Reviews and Complaints

I had applied for a current account for my company "Char-pixel Technologies" 30-40 days back and provided all the documents on time. But I haven't received my account details till date and now I am fed up with the services of your bank. 

Before starting the account opening process, I was promised amazing services and now it's been 15 days and bank officials here at "Defence Colony, Delhi" branch aren't doing anything. All I get false promises on daily basis that I will get the account number by today or definitely by tomorrow. This is not a good way to treat a customer.

Dear Sir,

I would like to bring it to your notice that I have dropped a application of credit card in your bank. But that application is declined due to KYC is not submitted to your bank,
but I disagree with your process because when your representative came at my office and home for verification, but he did not inform me a single time for submission of KYC for
credit card.
I think this is so disgusting and no way process of your bank that first you decline my application then you inform me that your KYC is not submitted that's why you decline
my credit card application and yes one more shocking news or information I got from your customer care service that now I am not able to apply credit card application for 6 months.
I think after 6 months when I again apply for credit card then you again do this. so that means I will never get credit card of your bank.

the exprience with kotak bank is pathetic. the word pathetic is also less. n the executives are also pathetic they dont knw how to speak.

Kotak Mahindra Bank are very bad in service.

Kotak Bank Sent me mail to apply credit card, when i had applied they have collected documents from me base on I am credit card holder of HDFC. and after one week they have disapproved my application with below reason.

We were unable to verify the residence address as provided by you in the application. We request you to kindly call our Customer Contact Centre to provide any landmark or additional information regarding the address.

I had given Aadhar card copy for address proof with Land mark... Application Reference No:[protected]

Beware of this #"fraud bank"- kotak bank!
After getting last month salary, I went to withdraw money from axis bank atm. I entered 10, 000rs but atm gave some error so I was unable to withdraw money. After 15 minutes, I received a text message saying that 10, 000rs has been debited from my kotak bank a/c. I immediately called their customer care. Their executive told me that there was some technical error so my amount will be credited back into my account within 2 days but I didn't receive any amount. After 2 days I again called on their customer care number. This time the executive told me that they are registering another complaint so they will credit my amount in my account within next 7 days. After 7 days I again called their customer care & this time again executive asked for few more days. I asked them to send cctv footage of that atm & the executive agreed. After 1 month I received a mail saying that the cctv camera of that amt was not working that time. After reading this mail, I immediately called axis customer care & this time they directly refused to help me. I have lost my 10, 000 rs & bank is not helping me. So people please beware of this "fraud bank"!
Regard's
Jagmohan rawat
[protected]

Worst bank I have ever seen in my life.
I have been waiting to take my refund back since December 2014. They keep promising to give it back but no result yet.
Kotak bank has deducted 10, 000 Rps. charges for not maintaining balance in account without any warning even if I had 10, 000 rps of balance in my account
After that they told me to open an NRI and NRE account and to maintain balance for 3 month to get charges back.
I have been maintaining balance for almost a year now. Hari Ramdas and Abhinay Kulkarni from Kotak bank, Corporate Office never care for their customers.
Worst staff, Worst bank, Worst service. If you have lots of time and lots of money then you can go to Kotak bank.

FRAUD BANK, Why don't you change your bank's name to FRAUD BANK PVT LTD.
Thieves are better than kotak bank. All they need is money.

i purchased a flight ticket using kotak bank credit card which got aborted by the vendor after making the payment, I have a mail from the vendor saying they have refunded the amount to the bank but I have been following up with the bank for last 2 months and now they are saying I am liable to make a payment and they wont be refunding the amount. in short they are stealing my money. pathetic service and please don't open any account in kotak bank and don't get into any transaction with the bank..

After lots of efforts, I planned to bought a 2nd hand car on EMI. So I choose Kotak Mahindra Bank for Car financing as I had salary a/c with them. I got approval of Rs. 3, 00, 000/- on 18th June 2015 and cheque of Rs. 2, 91, 000/- after deductions ( Service Charge + Taxes + RC transfer fees of Rs. 2700/- ) disbursed & received on 26th June 2015. Agent "Vinay Kumar" who was involved in this financing process, told me that you will got your RC in next 20 - 30 days. But till now I didn't get my car's RC and it has been around 170 days ( around 6 months). After 20 days when I called him he said you'll receive your RC soon and after that day he didn't pick my phone. After lots of follow up from dealer and bank I came to know that he has left and another agent named "Santosh Kumar" is handling this case in October 2015 he asked me for documents again, I gave him Pan Card and Voter Id Card copies again because my previously given document was misplaced. He said before 30th October 2015 you will get your RC but after that also same thing happened and in November I again contacted him he said now we got previous owner's documents, within 15 days you'll get your RC then at the end of November he gave his senior's number and said he'll give your RC. I called his senior 2 or 3 times and he also always told me, I am not in office let me check your RC status and I'll call you back in 15 - 20 minutes, but he didn't call back anytime and now he also do not pick my phone. I am totally frustrated from this irresponsible behavior from Kotak Mahindra Bank and their agents. I am suffering from mental stress. Being a corporate professional I cannot go to branch every time after taking leave from office, It is affecting my professional life as well. Till now I had made more than 300 calls and visited bank branch more than 10 times after leave from office but still not getting any resolution. I have paid 5 installments of Rs. 10, 662 each after financing but I am not able to drive my car just because of RC. Without RC I cannot takeout my Car from my home. I need my RC as soon as possible and I need my 5 months installments (5 * 10, 662 = Rs.53, 310/-) back which I paid for getting harassed from bank, my phone call bills and conveyance charges of Rs. 5, 000/-. I did lots of efforts for getting my RC but didn't get that's why choose this medium and I need my RC as well as compensation from bank.

Worst bank ever, local grocery shop knows what is customer service than this bank! Opened an NRE/NRO account and false promises were made with regards to changing of phone number and address. I was told to change the same all i have to do is send an email.. Then I get to know its incorrect.. i raise 2 separate request for the changes to be made. Request one gets completed without even my phone number being amended! Regarding address change request i am told i can raise online request to amend the address within same country only.. i had opened this account with an Indian address ( I had clearly advised this woukd be a temporary one and will change within a month) now i can only change it to an address within India.. i asked the lady who called me from the bank... why will I need an NRI account sitting in India for which she doesnt have an answer and says its the policy! Policy which doesnt have any common or logical sense. I sent couple of emails and there were absolutely NIL response.. I even emailed one of the branch in charge(Neethu Sharma jayanagar branch in bangalore)... she dint even bother responding either! Guess this bank just do not care about thier customers at all! Pathetic... my issue is still not resolved and its as good as I do not have any account since am unable to use the same!

hi my name is nazir shaikh,
yesterday means on 14 sep 2015 around 7.30 pm i went to a nearby atm of icici bank i checked my balance it was showing 900+ something ...i was shocked because it should have somewhat like more then 3000 when i checked the the mini statement i was charged multiple times i dont know for what ...i called the bank they started arguing with me ...we cannot help you in any other way for the information ...when i asked for the manager the representative directly said that i cannot transfer the call to him ..when asked is it a way to talk to a client he said yes this how we talk after having some harsh conversation he transfered the call but no resolution ...kotak mahinder is running a scam without intemating me he deducted all my money from my account and when we try to ask something you will not get anything ./...

I had opened NRE/NRO accounts in 2013 but due to the pathetic customer service of Kotak outside India this account became inoperative from outside India. Till date I have not been able to transfer in or out any money.
Now I see that the Bank has retrospectively applied a charge of 7000/- for not maintaining minimum balance. There was no warning given in the past about account falling below balance & that charge will be applied. Plus the charges have been applied for last 2 years retrospectively.

Branch staff are highly uncooperative & high handed. Stay away from this bank & it's sharp practices.

Sub: de-activation of kotak savings account
Ref: 1. Kotak saving account number: [protected];2. Ymca calicut branch

At the onset, I would like to congratulate kotak for adding more and more branches with the acquisition of ing vysvya banks across the nation. This must have provided you with a large number of accounts that you must be excited to service. Yet its time to bid farewell to one account, which is mine...!

Just to keep you updated with your deteriorated service quality, here is a brief of the short history of our pathetic relationship. I had signed the minimum balance saving account scheme, wherein I could have multiple cash withdrawals across atms, with a daily limit of rs. 1.5 lacs. It has been over a month, and in support of your fictitious scheme, I am yet to receive the card in reality. When enquired about the bank status, received was:

​28th july: - dispatched
​12th aug: - un delivered and returned
​13th aug: - again send by speed post
​15th - aug: receipt of cheque book, atm card still missing.

I tried to find reason with your staffs, leaving me confident of my thoroughly stupefied mind to have not only bought your story of a fictitious scheme, but more to have signed up with such a poor banking service provider in the first place.

Looks like you are still not out of the mess resulting from the merger of two banking businesses leading to a lot of unfinished business, rituals and rites, owing to which, the laxity and pathetic service quality is being delivered. Hoping, now that onam is done, the unfinished business must have been completed and your staff must have resumed from the undisclosed vacation.

Since I am through with my suffering and wish to have more professional and customer friendly banking partners this year, I am choosing to end my misery and request you to deactivate my account with the above reference at the earliest.
The way you have moved on to more profitable banking clients, I am moving on to better and more professional banking services.

In anticipation of a speedy culmination.in a hurry to bid good-bye,

Praveen knight
Managing director
Nava lifeline pvt ltd.
Calicut - kerala

I thought let people know about this bank to realise and take decision accordingly.
1. Bank and Securities they don't co-ordinate at all and if you have an issue you hit from pillar to post.
2. Customer service is worst than rhetoric and have no clue.
3. The bank staffs are mostly not given training and talk to you rudely. They are seldom interested by customer interest.

We together can teach these guys lesson, decide and think before you deal with Kotak.
AVOID
Suvendu Rath

Absolutely pathetic and worst service by Kotak Mahindra Bank credit card department. I have a very bad experience with the kotak credit card services, after writing them emails multiple times, filling their complaint for on their website, spoken with their recovery agents there is no resolution from their end. Every next month I get the call from their recovery department and they are not aware of my issue and complaints. Every time I have to explain the whole story again. final I made the payment which was pending but I am not going to pay their interest which they have put on my statement every month. When I approach their janak puri branch manager new delhi, she told me to make the payment which is actually pending and fight for the interest. Also they put my sibil score low and when I asked why then I have been threaten that if I am not going to make the payment they will make my sibil score 0, which will be impacting to my career and financial status.

Finally I have decide to approach consumer court and social media. I have not complaint yet. just waiting for reply from the bank.

Hi Sir,

I opted for kotak mahindra salary bank account in Noida working for bhavna corp, while opening the account it was told that it is a zero balance account, never told about min balance. I joined New company and got HDFC salary account.

Even my salary stopped crediting, Never communicated regarding MinBalance (TBMS) deduction. Today in Bank, I came to know that these deductions are happening from Aug onwards and you have deducted more than 9500 from my account.

This is my hardly earned money.I have used other sal account ING VYSA and HDFC, never faced any issue like this, really dissapoited and frustrated from Kotak side.
My Family has opted for various home loans, car loans and have accounts in kotak.With this Unfair deductions, I have to think before recommending kotak to others.I would not want my familyand friends to undergo the situation I have been through.
Hoping that Kotak will hold my trust and revert/waive the charges imposed(tbms).

Details:
CRN N0: [protected]
account number:[protected]
Kotak mahindra bank 31 and 32 Block-G,
Sector-18,
Noida, Distt Gautam Budh Nagar
6692030 Noida:20301 Up
Br Code: 181
Contact No: [protected]

Thanks,
Kamlendra Chandra

I am a Kotak Mahindra Saving Bank account holder and moved to UK 2 years back. Bank has started stopping my services one by one starting with blocking Debit card and Pin, Blocking phone banking and now they have blocked my Internet banking access too. I can't update any details (Address or phone number) online or by calling customer care. I can't access any services including logging in to my bank account. Whenever I contact customer care, they ask me to go to the branch. I do not have any Kotak Mahindra branch in my city. I feel like cheated and trapped by bank. My money is blocked into that bank account. I have some Mutual Fund auto debits set from this account, I am afraid the next thing bank will do is block my bank account and seize my money. Customer care executives are useless and have no respect for the customers. Rather than finding a way to help them, they always suggest to go to the branch. I would not recommend anybody to open a bank account with this bank. Their services are worst than a government/public bank.

To,

The Grievance Officer/BankManager,

Kotak Mahindra Bank,

Madhapur Branch,

Hyderabad.

Sub:- Imposing of various surcharges(TBMS etc) on my account. CRN [protected]

Sir,

This is to bring to your notice about extra charges levied on my account number [protected]. This is a salary account that I have opted to take about 3 years ago. 6 months ago I have changed my company from IBM to TCS. I would have been happy to continue with the account. However, TCS does not have Kotak as one of their banking partners; therefore I have opted for HDFC.

I have always been a patron of Kotak and have recommended it to several of my colleagues and family members, upto an extent that I also hold a joint account. I have savings accounts in couple of other banks and amongst them, I chose Kotak for an ECS loan deduction that is triggered on 4th of every month.

As mentioned earlier, my salary stopped getting credited into my Kotak account. However, I still had the intention to continue your banking services and have kept my Kotak account active by manually visiting the nearest bank every month and depositing a sum of +/- 9000/- exclusively towards my ECS deduction. In the recent months, I got a couple of calls and had to undergo a series of heated discussions with the loan provider HDFC for ‘insufficient funds’ in my account. I was stern and absolutely confident that I had funds in my account because I never missed on depositing amount every month. I had immense faith in your services and consistency that I defended Kotak in front of HDFC loan personnel. To my utter shock, when I began checking as to why there is shortage of funds, I came to know that there were several extra charges on my account and my balance went below my ECS deduction amount. I had to apologize to HDFC and also pay fines for dishonoring the loan agreement.

I immediately walked up to the Madhapur Branch to have this addressed. The person at the reception told me that my account is a minimum Rs.50000/- account. Which means, I must maintain a balance of Rs.50K always, else there would be extra charges. I was absolutely shocked to hear that. My salary itself was never Rs.50K ever and I have never requested for anything as such. At the time of opening the account, I was not told of anything so and neither was I intimated of these so called ‘conditions’ when my salary stopped crediting. Trusting your banking services, I just wanted to continue banking with you despite it not being my salary account and as a penalty I am being slapped with unnecessary charges. I am also being charged for not using my Debit card. Do you not feel it is up to the customer as to how they would like to operate the inflow and outflow of funds, as long as the account is in active state? The person at the reception only gave me one option, to terminate the account. He was hopeless in providing options and retaining the customer and urged me to force close.

Looking at it from a customer’s point of view:

- I had to pay a penalty to my loan provider HDFC for not maintaining Rs.8641/-, effecting my cibil

score

- I had to pay a fine to Kotak for not maintaining Rs. 50, 000/- in an account whose salary itself is not Rs. 50K and not using my Kotak Debit Card.

This is highly disappointing to receive no intimation of deductions made into my account. This is totally unfair from the authorities. It shattered all my faith in the bank, I want you to return my hard earned money which is taken for unfair reasons. As bank sends frequent alerts for the transactions happening in the account via emails, SMSes and unwelcoming calls for credit cards and loans, how surprising it is that no information being shared for the deductions happening in my account. It has been a silent affair done in the dark. How can a low salaried employee maintain Rs.50K ?

I request you to kindly consider this case and reverse / waive the charges imposed on my account forcibly(eg. minimum balance) as a final settlement cheque, failing which I would have to force close a handful of other accounts in your branch because of the bitter experience. I would not want my family and friends to undergo the situation I have been through. You can feel free to reach out to me on [protected].

Name: Rohit Varun
CRN Number: [protected]
A/C Number: [protected]
Phone number: [protected]

Yours Truly,

Rohit Varun

My views on Kotak Bank.
Disgustingly horrible bunch of greedy people who are cash starved and No ethics at all.

I’m Ranjit Singh working with Tech Mahindra Ltd in Bangalore. I have a salary account with Kotak. Simultanesouly, I also had a credit card from Kotak.

There was an outstanding of around 55K on my credit card last year by Aug 14. Due to some medical issues in my family, I was unable to pay my monthly liability.
Post which, my card got blocked and I started getting collection follow ups. Now, collection guys told me clearly that a settlement is done at 41K, which I have to pay in few installments. Every month I had been paying to collection agents.

Off late I received an SMS saying that my balance with Kotak card is around 35K. but I already have paid more than 37k and only 3 or 4k was pending.

Last time Jan15, when I paid installment to collection agents. I demanded for settlement letter. They said they’ll provide in next 2 days. Believing them, I made the payment. But no one turned up.

Now, the collection department has ceased the funds from my salary account, which is heinously absurd.

I request you to kindly intervene and get the same released at the earliest. As such I have medical situation in my family and I can’t afford such actions

I raised complaint on their portal as well few days back. But no one bothered.

Kotak has always been headache for me in last 3 years. I didn’t get my debit card since last 2 years.

One of the very few serious mistakes I made in my life is to open a 3 in 1 Account with Kotak Mahindra. Since day 1 of opening the account I have no good records to have even 0.001 % satisfaction of services without any error. Within 44 months of account opening and last more than 14 months if closing the 3 in 1 status with only NRE account retained due to some unavoidable circumstances of NEFTs etc. I have got so many RMs and Sr. Managers changed that none had any interest of serving me as a Customer, but all of them had only interest of their own business targets. If I start listing their troubles to me and my sufferings with Kotak then it will need really a booklet to print. Currently I am struggling to get my NRE Funds that were invested by Kotak as NRO fund by swiping my NRE FDs directly to my NRO Account. Now they are trying to prove me wrong, but have no proof of records to say that I have my self requested to put my NRE FD funds to NRO Account and then open Mutual Funds. Can any one think of non taxable money changing as taxable and then invest in Mutual Fund?
I wrote in past and recently to Mr. Uday Kotak who does not even have a courtesy to saying few lines response that they will look in to it. I am dealing with Nodal Officer(S) now who does not respond with any history or to the point, but trying to complicate the matter by responding here and there with no proofs or records that can prove them right. Height is that they are their own representative's e-mail profs to prove my arguments. Can't believe any one having any good experience with Kotak so I tried to search on google engine for one single POISTIVE opinion for Kotak Mahindra Bank, but as expected I failed to get any good report about Kotak in last 3 years.

Just to warn, be careful in any business with their RMs and Staff. In Kotak Mahindra their staff and managers are all for short time employment. They will take all details of your portfolio and then call you from their new job for making their new targets fixed! Feel Shocking right? But this is fact and one of my bitter experience too.

Any one planning for any business with Kotak Mahindra, I suggest get in touch with me before even you think further. May be my experience will save you from endless troubles, e-mail follow-ups and so on. SO BETTER DON'T BURN YOUR FINGERS ON YOUR OWN.

Hi,
I am Salman. My Kotak Mahindra Bank A/C No: #: [protected] (ACE ACCOUNT )which was opened last year in Dec'13. It is a Zero Balance Corporate Account when account was taken. Also, i have not been informed that i had been provided 'Ace' account which is totally non-recommended for a low salaried person like me.Without any intimation, Rs 3866.43 was deducted from my balance within 2 months without any information shared by any means. Below is the list of charges.

23/08/2014 Chrg: Min Balance Non Maintenance Charges for JUL TBMS 495.63 DR 0 CR
31/07/2014 Chrg: Min Balance Non Maintenance Charges for JUN TBMS 842.7 DR 1, 495.63 CR
31/07/2014 Chrg: Min Balance Non Maintenance Charges for MAY TBMS 842.7 DR 2, 338.33 CR
4/7/2014 Chrg: Min Balance Non Maintenance Charges for APR TBMS 842.7 DR 4, 180.03 CR
23/05/2014 Chrg: Min Balance Non Maintenance Charges for MAR TBMS 842.7 DR 6, 362.14 CR

This is highly disappointing to receive no intimation of deductions made into my account. This is totally unfair from the bank authorities. It shattered all my faith in them, i want them to return my hard earned money which they taken for unfair reasons. As bank sends frequent alerts for the transactions happening in the account but how surprising that no information being shared for the deductions happening in my account.When i contacted with bank authorities, they have asked me to maintain Monthly minimum balance in the account but even charging Rs 3900.00 is way too much for salaried person for having low balance & still giving no intimation on the same.I need a clarification on this from the bank. Kindly call me back and also request the reversal of amount.I cannot bear such heavy charges by bank, I will arrange to close the account if the bank authorities can not help me in this cause.

A/C. #: [protected]
CRN : [protected]

Regards,
salman khan
Mobile no. [protected]
Email address - [protected]@yahoo.com