Menu
Kotak Mahindra Bank
Kotak Mahindra Bank Customer Service Phone, Email, Contacts

Kotak Mahindra Bank
reviews & complaints

www.kotak.com
www.kotak.com

Learn how the rating is calculated

1.6 128 Reviews

Kotak Mahindra Bank Complaints Summary

18 Resolved
110 Unresolved
Our verdict: With Kotak Mahindra Bank's very poor resolution rate, careful consideration is needed. Research their service comprehensively, and read up on how they handle customer disputes. If you face issues, be prepared for potential challenges in obtaining resolutions and explore other service providers as backups.
Verified
The authenticity of the customer service contact information for Kotak Mahindra Bank has been meticulously verified by representatives from ComplaintsBoard using our proprietary verification system.
Get notifications about new complaints and reviews of Kotak Mahindra Bank. We promise not to send you any unrelated messages.
Share
Claim Your Business
Take control of your profile: address complaints and engage with reviews
Write a review File a complaint

Kotak Mahindra Bank reviews & complaints 128

Sort by:

Newest Kotak Mahindra Bank reviews & complaints

ComplaintsBoard
P
12:38 am EDT

Kotak Mahindra Bank not receive courier

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

Read full review of Kotak Mahindra Bank and 2 comments
Hide full review
2 comments
Add a comment
R
R
RAVI DUTT SHARMA
,
Nov 18, 2008 3:25 pm EST

Dear sir,
my name is ravi dutt sharma (a/c no [protected])
i applyied for a new atm card 2 weeks ago and i only got my new atm card last week but i m still waiting for my new pin no for widraw money from bank. i m not setisfied with your cust care executives. so plz do the needful.

with regards,
Ravi dutt sharma.
mobile: [protected]
res no: [protected]

M
M
mohamed fayez younes noser
,
Sep 05, 2008 5:09 am EDT

DEAR Sir
my name is Mohamed fayez younes noser .I am a computer engineer having the Egyption nationality.IT WILL BE HOW NICE OF YOU TO FINANCE ME WITH ONLY 1000, 000.OO $...i HAVE A FAMILY ..LOOKING FOR MY FUTURE AS A COMPUTER ENGINEER WORKING IN INDUSTRY.THANKS FOR GIVING MY THE CHANCE TO EXPRESS MY FEELINGS TOWARD YOUR GREAT NATION BANK .KOTAK BANK ...GOD SAVE U.S.A
BEST REGARDS,
EngMohamed fayez
name:Mohamed fayez younes noser
address:alsalam st from hanafia st-Bitash Agamy
ALEX - EGYPT
SWIFT CODE :BMISEGCX140
Account no:[protected]
BANK MISR "ALDIKHELA BRANCH"
TELNO.:[protected] MOBILE:[protected]

ComplaintsBoard
R
10:47 pm EDT

Kotak Mahindra Bank kotak mahindra bank - car loan

This is a very bad complaint against Kotak Mahindra Bank (Car Loan), I had taken a car loan from this bank on 2005. However, when it was sanctioned, i was changed more than what had been committed upon by there employee&agent. (Name: Shilpa (Employee) and Naveen Kumar (Agent))

Instead for charging 7% interest, I was charged @ 9.3%, that too in that year other bank wre charging less interest 6% to 7.5%

When i complainted the same to their branch, no one helped.. fighting for nearly 1 and half month, i came to know that employees & agents are involved in such fraud deals, and in turn get lot of commissions

I here by like to warn everyone out their to avoid this bank for any transactions/relation

Update: They are charging hefty for their services.. wre as other banks offer the same services for free/nominal charges.

For instance, obtaining NOC from Kotak Mahindra Bank, they charge Rs 1500/- wre ICICI (Rs. 565/-) and HDFC no charges.

Kotak Mahindra bank has failed to follow the Code of Fair banking Rule and they have imposed huge charges without prior notice and also they have provided wrong information and false commitments.

Very Very bad service!

Read full review of Kotak Mahindra Bank
Hide full review
ComplaintsBoard
S
12:00 am EST

Kotak Mahindra Bank non receipt of insurance bond

To
The Kotak Mahindra Bank,
Bangalore.

Sub: Non receipt of insurance certificate till date

Dear sir,

I have taken the personal loan (Ref:SPL – 117850 ) from which Rs.15000/- was deducted towards the premium for Kotak Life Insurance. As per the details received from your customer support executive, the amount was deposited in Kotak Life Insurance, Deutsche Bank AC No. [protected] through cheque 43328 dated July 31, 2007. I have been following up for the insurance bond/certificate since three months. I posted the complaint to [protected]@kotak.com. I even called your customer care at [protected], [protected] and posted the complaint. There is absolutely no response from any of your customer support executives. Can some concerned person at the senior level look into the matter and arrange to send the insurance certificate at the earliest.

Your immediate action will be highly appreciated.

Read full review of Kotak Mahindra Bank and 1 comment
Hide full review
1 comment
Add a comment
B
B
BOLE BOLE
, IN
Jul 15, 2009 11:51 am EDT

I have got an SB a/c linked with D'mat & trading a/c. K.M.Bank's sales executive assured me min. balance is Rs.1000/-;but last month they sent a letter that min bal should be 5000/- and they deducted Rs.827/- from my SB a/c.I sent an e-mail protesting.This is the they nimble customer's money from their a/cs and show profit.All pvt. banks are great thieves and goondas by default. God save them. See icici thats gone icy now.

I have now decided to leave the Bank immediately.

ComplaintsBoard
P
12:00 am EST

Kotak Mahindra Bank poor services and not dependable!

I was approched by one of the field executives representing Kotak Mahendra for a personal loan. I submitted all the documents required in the matter of a weeks time. After this is what got me really thinking "If i took the right decision by choosing kotak mahendra as the company I want to deal with".

I was asked for some specific set of documents by the field executive first, which was promptly submitted. Later I was asked for couple of more documents, which was dually submitted. After almost a week of submitting documents the executive came to my office and wanted my signatures on a booklet (which was supposed to be agreement with Kotak mahendra) however this booklet did not have any details at all. It was completely blank with some weird markings at the side of each page which required my signature. This is where the field executive explained that he wanted my Mothers signature as well since she was the co-applicant. I did confront him that this was not decided for which he had a ready reply that the percentage will be as low as 15% if this was done. Well this was agreed to and both my mom and myself signed all the documents. I was asked around 9 cheques which was given as well, addressed to Kotak Mahendra PLC.

I received a call from one of the managers from Kotak after a week of signing the docs informing me about the increase in the percentage to 17%. I was totally unhappy and annoyed that they have been changing their word in more than one instance by now. I refused to take the loan at this rate and hung up. After a while the filed executive called and said this was tantic used by their office to increase the rate of interest offered and we would still go by 15%.

It has been three weeks since and I still haven't received my cheque or DD. I went to the Kotak Mahendra Branch on MG road, where they just checked their systems and gave me some Managers number (Who eventually was the branch manager). I have been talking and calls more than two managers from the past three weeks checking about when I will be receiving my cheque, all that they seem to say is that they have got the DD and will be sending it via an executive to my office by 6pm. This has been the same story everyday. I have even tried yelling at them and I have even told them that I will cancel the loan.

I have received a letter from citibank that My ECS has been approved and Kotak Mahendra bank has told me that they will charge me a certain percentage if I have to cancel the loan at this time.

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 its 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.

Read full review of Kotak Mahindra Bank and 7 comments
Hide full review
7 comments
Add a comment
K
K
Kotak Mahindra
, IN
Jan 19, 2016 1:07 am EST
Verified customer This comment was posted by a verified customer. Learn more

Dear Ms. Preethi,

At the outset please accept our sincere apologies for the inconvenience caused to you.

We request you to kindly provide your Customer relationship number / Account Number/ Contact number to us at solutions.bank@kotak.com enabling us to investigate the matter and assist you further.

Assuring you of our best services at all times.

Thanks and regards,
Kotak Team

R
R
Reviewer29150
,
Jan 07, 2016 2:09 am EST

Worst and weird banking i have ever seen so far. Worst process and no value for customers as well as customer support people are not helpful and not trained properly. Avoid Banking with Kotak.

D
D
911dipesh
, IN
Sep 06, 2011 12:58 pm EDT

I Have the worst experience with this bank. Due to wrong information given by customer care my cheque was returned and I was charged 500Rs by the other bank and 386 rs by kotak mahindra. and they refused
to return the money and offered me a apology letter which i didnt wanted. i am going to close my account. Dont open account in this bank this is worst bank. Its a genuine feedback my customer ID is [protected]

D
D
911dipesh
, IN
Sep 09, 2011 9:07 am EDT

Hi There
I got call from Ashish senior manager kotak. He told me charges have been refunded to me. I have checked my account its positive. After 3 weeks of effort finally it is solved. Thanks kotak, thanks complaintsboard!

K
K
Kotak_Support
, IN
Sep 09, 2011 7:40 am EDT

Dear Sir/Madam,

At the outset, please accept our apologies for the inconvenience caused to you.

We would like to inform you that our bank officials are investigating your complaint and will reply you shortly. However, for any further assistance please feel free to write to us at solutions.bank@kotak.com.

Regards,
Kotak Support Team

M
M
Mohan Kumar
,
Apr 19, 2008 6:46 am EDT

Thanks for sharing your experience. I will not go to Kotak mahindra for any transactions at all.

R
R
R. R. Sarangi
,
Feb 13, 2008 11:36 pm EST

Like the above case, one customer care executive from KMBL (PL DIVISION) approached me and after asking all the information about my salary and the company, I am working for and some more, she told me that the ROI will be 14% and processing charge will be 0.5% of loan amount.

Then I saw this complain about Kotak Mahindra and asked them to give me a email, with what ever they are offering over phone.

After a long wait I got the mail, which clearly showed, what was there intention. In the email the ROI was 18% and the Processing charge was 2%.

Because of these people, I lost lot of my precious time at office.

Thanks to the above complain.

ComplaintsBoard
S
12:00 am EDT

Kotak Mahindra Bank false commitments and hefty charges

My name is Saravanan. U residing in Chennai, I am a Customer of Kotak Mahindra Bank. I was left with no option other than escalating my problem to the Complaints Board.

I have a personal loan with Kotak Mahindra bank my Personal loan number is SPL - 43683 agreement dated 26th December 2006.

The Loan Amount was 3,02,581.00 and the EMI was Rs.10590.00 at the rate of Interest 15% for 36 months. the EMI started from January 2007 and I was a regular payer and there was no defaults so far. During sometime last month I was approached by Kotak Mahindra Bank's Sales executive Mr. Karthik (Mobile Number:+91-[protected]) asking about the Loan top-up. I too had a need of money due to my brothers marriage which was in the near future.

I applied for a top-up for 2 lacs, Wherein the Bank's sales person committed me that he will get me the best interest rate. I was given an agreement on 29th Jun-07 for 5 lacs for 36 months and the interest rate was whooping 18%, and there was a loss of Rs.25000/- for me (Interest paid on the old loan). So I rejected the offer. At the time of applying all I understood was the top-up loan will be either a new loan apart from the earlier one or an extension of the old loan. (The sales person failed to inform me that the old loan will be closed and this will be entirely a new loan). Then the same day I was contacted by Mr.Velu (Mobile Number:+91-[protected]) who claimed as the Manager for the personal loan division of Chennai.

He promised me that he will give me the loan for 16% and the EMI will be 17578/- and also he will waiver me the Insurance cover and there will be a 2% service charge for only the extra loan amount with service tax. So my loss will be minimal. I asked him twice and he said I have to trust his words as a manager.

Commitments made by Mr.Velu.

1. Service Charge of 2% for 2 lacs (Loan Amount Availed Extra with 12.25% Service tax on that).
2. Interest Rate at 16%
3. Waiver of Insurance Cover and other Charges.

So based upon his commitments even though there was the loss of Rs. 21,412.00 Interest I have paid for the old loan I decided to go for the new loan and signed the documents.

When the Cheque was credited in my Account, I was traveling and I was shocked because the Amount credited was Rs.2,08,942 Via CHQNO:045168 on 04/07/2007

But I was promised to get Rs. 2,33,000.00. I have enclosed the calculation Sheet for your perusal.

Loan Amount

New Loan: 2,00,000.00
Pricipal Outstanding from Previous Loan: 41,519.00
Total: 2,41,519.00

Deductions:

Service Charge of 2% on the Loan of 241519.00 : 4,830.38
Service Tax on the serv Charg at 12.25% : 591.72
Total Deductions : 5,422.10

Net Payable was to be Rs.2,33,096.90

I was cheated (I would consider this as an appropriate word) Rs.24154.90 by Kotak Mahindra Bank people.

I contacted the Customer Care division immediately and inquired for which they told me that the approved loan amount is 4,97,000.00 and the rest as service charges, Insurance and Handling Charges. I spoke to velu and Karthik and they said that they will get me a clarification but failed to do so. I would Have tried more than 100 times and have even sent SMS messages but they are not bothered to give me an proper answer. I escaped this problem to Mr. MohanRaj who claimed himself as an Regional Manager (Mobile Number: +91-[protected]), He was also is non-responsive. Even though the loan amount is 4,97,000 I was supposed to get 2,30,096.90 but I have received only Rs.2,08,942.00.

I received the loan details and papers yesterday after making several calls to the customer service number : (044) [protected]. I was shocked to learn nearly Rs.11,168.00 was the service charge and service tax with Insurance cover of Rs.3,510.00 and documentation charges of Rs.841.00 and handling Charges of Rs.1150.00. (What is this handling charges I really don't know).

I have made several calls and have requested for explanation but no in the bank bothered to answer my calls.

Kotak Mahindra bank has failed to follow the Code of Fair banking Rule and they have imposed huge charges without prior notice and also they have provided wrong information and false commitments.

Read full review of Kotak Mahindra Bank and 15 comments
Hide full review
15 comments
Add a comment
D
D
DeepaliSharma
, IN
Nov 19, 2018 7:54 pm EST

I have been getting a lot of calls from these numbers asking me to provide credit card details to them :
[protected]
[protected]

I do not know what to do as this guy starts abusing me and family. His name is rahul.

C
C
Chris Liyne
, US
Nov 01, 2018 3:50 am EDT

Kotak Mahindra Bank Customer Care [protected]

T
T
TrilokSinghcsir
, US
Oct 28, 2018 4:50 am EDT

My name is Trilok singh, My account has a kotak mahindra bank .Came to extract 2, 000 rupees from DALGanj's ATM punjab national bank .As soon as I put my PIN and 2000 Ammount the ATM machine and then suddenly stopped going light. Please check back with you by checking.
And please come back 2000 ruppee in my account

C
C
Chris Liyne
, US
Oct 23, 2018 8:19 am EDT

Kotak Mahindra Bank Customer Care [protected] ((([protected]

S
S
Sourabh Madan
, US
Oct 15, 2018 7:51 am EDT

My ATM card be four 7 days is not wor king .
Bank brach = vikas puri

M
M
Mathuradas Bhanushali
, US
Oct 15, 2018 12:44 am EDT

I have a mortgage o/d a/c with your bank i havent paid interest from last 3 months your employee is talking anything rubbish with me i have a call recording with me and i will also complaint to rbi with the call recording and your employee said i will sell your property before diwali .
My contatct no.[protected] mathuradas bhanushali

N
N
nishadbrahmbhatt
, IN
Oct 03, 2018 12:36 am EDT

their bank officers are careless, third class service dont go for this bank, illiterate kind behaviour

R
R
Rakesh Ahlawat
, US
Oct 03, 2018 6:34 am EDT

My name is Rakesh and in your Kotak Bank customer, I take the balance of my time. In Islam, you have closed the account permanent.
My account number is [protected] or you refund my balance and refund the amount of 342

Mobile No [protected]

M
M
mahendra16
, IN
Sep 03, 2018 11:08 pm EDT
Verified customer This comment was posted by a verified customer. Learn more

bina otp ke bank ne 3700 automaticlly paisa dedect kar liya plz my payment refunf my account

S
S
syed sirajuddin
, IN
Aug 15, 2018 8:15 am EDT

Dear sir,

I was making payments time to time on my credit card bills till now, But this time i am charged extra interested charged of 3 times.I raised complaint about it to make refund but till now people are not responding.

thanks & Regards
syed sirajuddin
contact [protected].

ComplaintsBoard
M
12:00 am EDT

Kotak Mahindra Bank duping by authorized dsa of company

1. I have purchased car santro xing with car loan from kotak mahindra primus ltd vide agreement no 1343471 dt 31 may 2004, wherein, I was duped by the dsa of the bank.

2. I have persistently approached everyone in the company up the chain till ceo, copy of the letter to ceo mr sumit bali dt 08 may 2007 is att as under. On receiving no response from the company even after approaching ceo. I am approaching for your intervention for an early redressal of the grievance. Details of the nature of complaint is as given in the letter.

3. Looking fwd to a early response to help a destitute soldier.

Bimal mehra
[protected]

X x x x — c o p y — x x x x x

For kind attention of mr sumit bali, ceo, kmpl

Mr sumit bali,
Chief executive officer,
Kotak mahindra primus ltd

Redressal of grievance : car loan

Dear mr sumit,

1. I am writing to you as a last resort option, seeking redressal of the long pending grievances against your officials and authorized dsa cumulatively.

2. I am an army officer and had taken a car loan of rs 258459 (rupees two lakh fifty eight thousand four hundred and fifty nine only) through your company vide agreement no 1343471 dt 31 may 2004. This loan agreement was materialized through your authorized dsa mr varun veer singh of marketing minds ltd, sector-27, noida, wherein, a cash discount of 5% on loan amount (Ie rs 258459/- - rs 5441/- = rs 253018/-) amounting to rs 12650/- was agreed upon as part of loan agreement on behalf of kotak mahindra primus ltd. However, inspite of repeated requests and reminders, initially to dsa and subsequently to your company officials over a period of 2 ½ yrs plus, no heed has been paid to my request nor any action been taken for the refund of the above amount.

3. This is to further bring to your notice that my is not the only case wherein the customer has been deliberately misled and wrongly committed by the said dsa mr varun veer singh. Two more such cases have come to light, including one in which a retired army officer and a senior citizen aged 80 yrs has been duped with similar commitment.in present day scenario where we talk of “corporate social responsibility” and so on & so forth, this is a shameful conduct on part of dsa of a renowned company. This also surely makes a dent in the company’s reputation and image. All the above details have also been shared and explained at length to various officials in your company namely mr jitender singh & mr suveer seth, rms at different points of time and also to ms roshandhara, asst manager, customer relations and to many more officials over a period of 2 yrs plus.

4. All my persistent efforts over a period of 2 ½ yrs have been an exercise in futility with only blank promises and commitments by officials at various echelons of your company. Nevertheless, despite of such a bitter experience I have been paying my emis of rs 5441/- earnestly for over 2 ½ yrs for which I am being offered many a times “kotak priviledge track record personal loan” etc.

5. Taking a wholistic view of all the above mentioned facts, I would request your personal indulgence in the subject matter so as to initiate the necessary proceedings for an earliest refund/adjustment of the above amount against the emis.

6. Looking forward to a prompt & favorable response.

Major bimal mehra
Mob: [protected].

Read full review of Kotak Mahindra Bank and 1 comment
Hide full review
1 comment
Add a comment
S
S
saurav ghosh
, IN
Jun 23, 2009 4:55 am EDT

Dear sir,

This is to bring in your notice that I have taken car finance from kotak mahindra prime and my account number is 5181217.I think that is the worst decision that I have taken for getting my car financed.

Name of the representative who has opened my account is Mr.Rajan of Chandigarh branch. I am very sorry to say that he is not having any botherance for his client’s complaint. I have not spare any soil unturned for getting the solution of my complaint, but in vain. The bank has issued a defaulter letter (Letter No:16987) where I am not in fault.

Actually at the time of taking the loan, Mr.Rajan has told me to open a Kotak mahindra bank saving account which is suppose to be connected with car loan account for getting my ECS cleared. Now the bank has used my security chq of Rs.5400/- of ABN AMRO for getting the first EMI which is not suppose to be done. That too without taking my concern. The local branch is agreeing that they did a mistake. Then why I am getting penalized where it is not of my fault?

I need a genuine resolution of this case. I am having all written communication data as well as each call records with me. If I am getting this type of hassles then I will make it very sure that KOTAK MAHINDRA will not get any further business from HYUNDAI. Please don’t provoke me to take any adverse action.

Regards,

Saurav Ghosh

Chandigarh-160101

Mob:[protected]

ComplaintsBoard
S
12:00 am EDT
Featured review
This review was chosen algorithmically as the most valued customer feedback.

Kotak Mahindra Bank - car loan account closure

This is a complaint against Kotak Mahindra Bank. we had taken loan of Rs. 294000/- (Two Lakhs Ninety Four Thousand only). Agreement No: [protected]/01 . in the name of Sanjay Bhanudas Amate, Flat No.3, Second Floor, B-1 Kumar Padmalaya, Off D.P.Road Aundh, Pune - 411007 Agreement Date: 13/02/2004 We wished to foreclose the account and have completed all the...

Read full review of Kotak Mahindra Bank and 7 comments
ComplaintsBoard
S
12:00 am EDT
Featured review
This review was chosen algorithmically as the most valued customer feedback.

Kotak Mahindra Bank - not issuing n.o.c after taking full and final payment

This is complaint against Kotak Mahindra Bank. we had taken loan of Rs. 6,00,000 ( Six Lakhs only) . Loan Account No CSG- 642839. in name of Surender Kumar Agarwal, Shreenath Castings, Plot No 252, Sector -24, Faridabad. Agreement Date: 28, june 2005. Due to financial crisis we request them to close this loan account and i will repay this in one shot...

Read full review of Kotak Mahindra Bank and 15 comments
Trust badge
Collect Your Trust Badge
Be recognized for outstanding customer service

Contact Kotak Mahindra Bank customer service

Website

www.kotak.com

Your Voice Matters: Our Commitment to Genuine Reviews

Empowering Real Experiences

At ComplaintsBoard, we believe in the power of true customer stories. Our platform is a space for authentic voices, where experiences, both good and bad, are shared openly and honestly.

Dedicated to Authenticity

ComplaintsBoard is vigilant in our fight against false reviews. Our team employs robust verification methods to ensure every review reflects a real customer experience, upholding the integrity of our platform.

Encouraging Detailed Feedback

ComplaintsBoard values reviews that come with real evidence. Whether it's a photo, a detailed account, or additional documentation, such substantiation adds credibility to your story, helping others make better-informed decisions.

Balanced and Constructive Conversations

We're more than just a complaints board; we're a community for balanced dialogue. ComplaintsBoard encourages reviews that not only highlight issues but also acknowledge positive aspects, fostering a fair and comprehensive understanding.

Free and Fair Platform

ComplaintsBoard's commitment to maintaining a free and unbiased platform is unwavering. Every review is treated equally, ensuring that your voice is heard and respected, regardless of the nature of your experience.

Is ComplaintsBoard.com associated with Kotak Mahindra Bank?

ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Kotak Mahindra Bank Customer Service. Initial Kotak Mahindra Bank complaints should be directed to their team directly. You can find contact details for Kotak Mahindra Bank above.

ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard.

Use this comments board to leave complaints and reviews about Kotak Mahindra Bank. Discuss the issues you have had with Kotak Mahindra Bank and work with their customer service team to find a resolution.