Kotak Sucks Customer Reviews and Feedback
Kotak Mahindra Bank Limited is an Indian private sector bank headquartered in Mumbai, Maharashtra, India. It offers banking products and financial services for corporate and retail customers in the areas of personal finance, investment banking, life insurance, and wealth management. As of April 2019, it is the second largest Indian private sector bank by market capitalization, with 1600 branches & 2519 ATMs.
A former employee said this on Indeed "Worst management doing bossism, pathetic work culture, use of rubbish language all the time, they don't deserve to be in the market, masters in bluffing customers and befooling them. No matter what position you join at, you have to only SELL INSURANCE. Poor schemes of Kotak Mahindra Bank".
Assistant Manager - Operations (Current Employee) says"I have employees for kotak Mahindra Bank for RPC department, but I am not to assume that bank sector is perfect, kotak bank culture is very bed and not help full for people. Cons: Timing issue, Leave issue"
Service Officer (Current Employee) says"Very slow paced work, only one person is having Sibel I'd among 8 people staff , NO TIME LIMITS for custodian ( females) they need to seat at branch till 9 pm , no higher level transparancy, egoistic, proudly managers ,zero support also NO BACKUP available , during off season bank is close at 9-9:30 pm , we need to reach branch by 9:30 am anyhow . LackmanaheLaosupportfromngmntmanagement Cons: Timing is 12 working hours, no one is taking responsibility for female after late relese ..they have to go home at her own risk"
Fresher (Former Employee) says"Worst work culture ever. Fraud management. Contractual job with a minimum wages. 4days in a month have to report in office. No facilities, benefits like permanent stuffs.."
Recovery manager (Current Employee) says"Salary not received good. Very traceful job. as a trace comparing not good salary. I steel 2 and half years job continue no salary increase. I work with same salary at start to continue."
Deputy Manager (Current Employee) says"Uncultured staff poor management . No language etiquette. Racism personal comments .bad language .Incompetent poor HR rules.No work life balance pathetic"
AAM (Former Employee) says"BAD culture with bad management"
Deputy Manager (Current Employee) says"Seniors working here feel as if employees as labours, they dont give any government holiday, or saturdays, worst working place to be said. Cons: No govt. Holiday, no saturdays, no time boundaries"
Assistant Manager (Former Employee) says"no management"
Manager- Business Banking Relationship Manager (Former Employee) says"Though offered M3 grade in this worst bank, and a salary of 9.5 lpa , no work life balance, idiots doing bossism and politics all the time. No good services to clients as well, befooling them . Cons: Worst management doing bossism, pathetic work culture, use of rubbish language all the time, they don't deserve to be in the market, masters in bluffing customers and befooling them.No matter what position you join at, you have to only SELL INSURANCE (poor schemes of Kotak Mahindra Bank)"
Relationship Manager - Branch Banking (Former Employee) says"One of the worst place to work in Banking.. Unethical work culture and atmosphere."
Deputy Manager - Operations (Current Employee) says"Only Insurance Seller Not Banker"
Deputy Manager (Former Employee) says"Work place still good but management not. Better opportunities are available but no job work life balance. Unable to take emergency leave for personal reasons."
Deputy Manager- Car Finance (Former Employee) says"No civilized work culture here."
Deputy Manager (Former Employee) says"Pls don't choose this career as a life"
Sales Executive (Current Employee) says"Very poor experience.No one join this company it's a very poor management and worst organisational behaviour with employees.Higher management is less educated."
Branch Operations Manager - Manager Grade (Current Employee) says"Organisation is good but cluster by cluster culture is different. If you work hard no one gives you attention but if you are not perform every one will give you alternate. And try to retain..in short no value for honesty"
Sales Manager (Former Employee) says"However I found Kotak Mahindra Bank Limited having some best individuals but I had a little painful experience too. I was hired as a Branch Sales Manager- SA as per the interview and appointment letter. I went for an interview at Vile Parle in October 2010 for the vacancy there but upon selection I was sent to South Mumbai Hughes Road branch... which catchment is usually tough for Savings Accounts. I was told to have responsibility to recruit and manage Assistant Acquisition Managers and deliver targets through them and my joint efforts. To my surprise on the first appraisal sheet I found my M3 grade as - Manage Self which was of Relationship Manager/Officer (or the one who is not into team handling) and not MANAGE OTHERS. I got confirmed after the probation period. For two years I got rating 'Satisfactory performance' and 7% increment too but for both the years I was transferred in my absence when I was on the leave for one or other reason."
Deputy Manager - Marketing (Current Employee) says"Iam in working in Bangalore btm layout our recent bm he is not good at all does't give respect to women and employees ... that's why I don't want to work with them."
Assistant Manager (Former Employee) says"Full politics ,if the hardworking guys won't get any hike or appreciation ,they are not selecting the right candidate for the job, because through some influence they are occupying for the senior post, In this scenario if a employee starting the career from grade 1 ,he or she won't be able to get promotion, because of these politics. Cons: Not long hours, it's 24*7"
Manager (Current Employee) says"This bank is running like a proprietorship company and proprietor is Uday Kotak.No policy and culture.Only people are staying who do buttering to top management with same work flow."
Former Employee - Assistant Manager says"I worked at Kotak Mahindra full-time for less than a year Cons: No growth and Bad pay"
Former Employee - Relaionship Manager says"I worked at Kotak Mahindra full-time for less than a year Cons: Not safe for girls So much pressure on employees Seniour do nothing just want sales"
Former Employee - Relationship Manager says"I worked at Kotak Mahindra full-time for more than a year Cons: Daily concall and too much pressure"
Former Employee - Relationship Officer says"I worked at Kotak Mahindra full-time for less than a year Cons: They pressurize their staff alot, management is not at all good. They do not use good language to speak to their staff. They yell alot."
Former Employee - Relationship Manager says"I worked at Kotak Mahindra full-time for more than a year Cons: work pressure at work place"
Current Employee - Senior Manager says"I have been working at Kotak Mahindra full-time Cons: no work life balance at all"
Current Employee - Trade Operations Specialist says"I have been working at Kotak Mahindra full-time for more than a year Cons: all seniors members in Kotak eat all junior employee bonus and benefits"
Former Employee - Brm says"I worked at Kotak Mahindra full-time for less than a year Cons: They will make your life hell"
Current Employee - Vice President says"I have been working at Kotak Mahindra full-time for more than 3 years Cons: No perks, facilities, loan benefits provided"
Current Employee - Business Development Executive says"I have been working at Kotak Mahindra full-time for more than a year Cons: Depending work Not a support from reporting manager or any authority level boss Cut your incentive rather is not your fault No Professionalism Too work load Too hectic job Too much politics Boss transfer thier responsibilities to executive"
Shanu says"Worst customer services provided by them. Before 1.5 months back I opened my account in Kotak bank. Still I have not received my debit card. They are telling me it shows it has been delivered but where the hell it has been delivered. You cannot deliver my card and my debit card pin to any other address. This is quit ridiculous answer given by the bank to me. This is not the good customer service provided by the the bank specially LP Savani branch Surat They are the responsible for where the card has been delivered and it’s there responsibility that the debit card should reach to the account holder person. Guys I should suggest you just don’t have an account on Kotak. Worst service are provided by them."
Inaayat Chaudhary says"I had don my all payments on time. But only these bank starting the call before 10 days of due date... More than 2 times in a day. Now just I am frustrating. Never use that service in future..."
customer says"The Kotak Mahindra bank has old processes and procedures and they always try not to work. I have an Bank and securities account and see their service is below par and doesn’t understand customer requirements and requests. They just reject to service many times. I am unhappy with their service."
Dishant Kohli says"Fraud bank Worst services The only thing that they are good at is making false promises to their customers and then deny everything. Would rather die than to use their services again."
Suneel Sehrawat says"It's a fraud bank, making fraudulent promises to it's cx which he never fulfil. If you don't believe me. Experience it and make a fool of yours.."
SKV says"Worst bank ever! I opened an account with them in 2015 and with few months I closed it due to their bad service. Then after 5 years, I thought of using their service assuming that they may have improved. But to my surprise, their service has gone even worse. I did a remittance and they took ages to process it and the reason was they couldn't find the money I transferred to their foreign account. After escalation and all they apologized and assured me to not repeat the mistake and appointed a person to track my transactions. After 2-3 months of proper service again I am struggling with my remittance I lost a good sum of money as they delayed my remittance processing and also didn't provide the guaranteed rate (they deducted 20 paise from the exchange rate). Also, their click to remit and net banking portal always has technical glitch due to which I missed on several opportunities to send money at good rates. Even now their net banking is not working and showing me an error that they are unable to process my transactions, it seems my money is stuck with them. Looking for the right time to end my relationship with this pathetic bank. I learned my lesson the hard way. To top it all their staff and my relationship manager don't bother to whatever is happening they don't even respond to my calls. :)"
bharath kumar says"Worst bank ever. I was being charged around 30k without being notified by any means and simply said charges were implied for past three-year non-maintanence charges"
dilip chinnu says"I experienced a issue today. I was returned to india in feburary. Thought of using my old bank ( kotak) when i just deposited my money they just cut for some unknown reasons without any prior notice and visible things(transactions)"
Yarngam Makan says"ATM issue still unresolved after more than 4 months. Not sure his they are handling the case... They are just giving me the turnaround with excuses."
venu gopal says"The worst bank i experienced and suffered and looted money both as NRI and normal customer, i was suffered a lot with this bank account opening day on wards as soon as i am going to close and i never suggest this one for any one, my friends suggested before opening it is not a great bank. but i am experienced the worst bank services loots. KOTAK MAHINDRA BANK= Do Not Open=WORST F**KING BANK"
Infernal Heir says"They are Totally scam. they lotted 40000 INR WITHOUT ANY Permission. When i ask for it they did'nt response Fake policy fake bank. i also raise a file to rbi for this kind they are doing so much and we are not satisfied with this . good luck your customer will your service dont worry."
Suneel Kumar says"Hi I've one corporate salary account with Kotak mahindra bank since 2 years. When my account was opened by the kotak mahindra bank they told me end number of features of it. They told that your account will be fully secured and insured with us and uf any fraudulent activity happens with my account it's covered and I will get compensation upto rs. 75000. They told me that if your card is used for any withdrawal or shopping swap ect. In your absence. We will refund up to rs 75000 and other such promises but it's not at all like this. On 9th July 2019 a fraudulent activity happend with my account and 40k has gone from my account it's more than 2 months now no luck also they have refused to refund and said it's a password sharing case. Can someone share his/her password to an unknown person. It's like a joke. Kotak bank is fraud and suggest everyone not to use this bank services. Regards Suneel Kumar 7015510339"
AshaKantaSharma says"Dated: - 01-03-2019 To, KOTAK MAHINDRA BANK LIMITED CIN: L65110MH1985PLC038137 27BKC, C - 27, G-Block, Bandra-Kurla Complex, Bandra East, Mumbai - 400051. Tel No.: +91 22 61660000, Fax No.: +91 22 67132403. Sub: - Fraud & Malpractices by KOTAK MAHINDRA BANK LIMITED Officials Ref:- CRN No. 187805870, 193890217 & 193890206 Dear Sir/Madam, In regards to the below complaints we would like to update you that we opened our savings bank account with Kotak Mahindra Bank, Ground Floor, Mayur Garden, G S Road, Guwahati, Assam – 781005, India only upon getting assurance that we would be offered a Kotak Mahindra Bank Family Savings Account (Silk - The Savings Programme for Women) where we would only be required to maintain minimum balance of Rs. 10,000/- (In Words:- Ten Thousand Only) in one of the primary savings bank account only. It is very same shameful fact that we are getting mail and SMS to maintain a minimum balance of Rs. 10,000/- and are being told that the family accounts were opened under EDGE Category with AMB requirement of Rs. 10,000/- and no promo code for family accounts was given which are duly signed by the customer (us). Bank Charges still have not been reversed for my connected family account bearing Account No. 9312381593 & 9312381586 and still Bank Charges are being levied in spite of having maintaining sufficient balance in my main account no. 0511731141. KMBL has been found NEGLIGENT IN RENDERING SERVICES and have not complied with RBI Guidelines and Rules in regards to levy of Minimum Balance Charges. It also has been found guilty of misselling its banking products and services and making false assurance and claims to sell its products and services to the customers. We would like to inform you your Kotak Mahindra Bank officials are MISLEADING CUSTOMERS for opening accounts, making false claims, for fulfilling own financial gains at the cost of the customers. It seems that customers everywhere are paying a hefty price for their blind trust in companies with strong brand images. Kotak Mahindra Bank officials are taking undue advantage of the brand name to influence the customers and makes a strong pitch in favor of the Kotak Mahindra Bank Products to the customers. Kotak bank is a fraud, is doing clear injustice with the customers. We the customers are depositing our hard earned money in banks to keep it safe and bank itself is eating away our money. Hats off to banks like Kotak in India, poor Indian laws and poor common man of India. Let us remind you of the IBA Code for Banking Practice:- “Objectives The Code is intended – • to promote good banking practices by setting out the minimum standards which Member Banks will follow in their dealings with customers; • to foster customer confidence in the banking system; • to inculcate self-discipline amongst Member Banks with a view to promoting healthy competition and ethical practices in respect of banking services.” Kotak Mahindra Bank Officials are fooling, cheating, misleading customers by giving false claims in regards to opening savings accounts so as to fulfil own targets and gains at the cost of the customers as evidenced from our case and many cases like us. If someone makes a misleading or false statement about a product, it tantamounts to mis-selling, as do omitting or concealing material facts and associated risks about an investment product. We visited branches of several banks, including PSU outfits, foreign banks and new generation private banks. However, the modus operandi has not changed. Bank officials still try to mislead people into buying products they don’t need. Bank Officials does so because banks set stiff sales targets for relationship managers, forcing them to push products that fetch higher commissions instead of products and services that suit the customer’s needs. Most of the mis-selling happens at foreign banks and new generation private sector banks. The relationship managers are trained to stonewall any question from the customer. In one case, one customer wanted to invest Rs 5 lakh in a fixed deposit in a foreign bank, the salesperson started pushing FDs from NBFCs. “The interest rates offered by these deposits are much higher than what our bank offers,” she said. What about the risk, I asked. Without batting an eyelid she said the FDs she was offering were from ‘reputed’ NBFCs and there was little chance of default. This comes right after the IL&FS fiasco. Banks were found pushing sub-optimal, or risky products—most common was the push for Ulips—as a substitute to not just FDs but to the Senior Citizens’ Savings Scheme (SCSS), term insurance and gold bonds. Even granting bank lockers was subject to preconditions—investing in FDs, opening a savings bank account, buying insurance. The below is one more case with Mis-Selling Bank Lockers:- Since the demand for bank lockers is much more than their supply, most bank branches tie them up with some investment product even though the RBI has asked banks to stop this practice. The first co-operative bank one customer approached gave them the stock reply: “There aren’t any lockers available.” But then a bank official dangled a carrot: “We are planning to increase the locker capacity and you may get at that time. First you open savings account and then give us the application for a locker. We will give lockers based on first come first serve basis.” The PSU bank when approached demanded that customer open an FD of Rs 2 lakh to be considered for locker allotment. “We have few lockers and will give them only to premium customers. Either you open a new FD with us or start a savings account with higher average balance,” the official said. A new generation private sector bank was even more demanding and wanted the customer to purchase a Ulip with annual premium of Rs 1 lakh to get a locker. The senior official wouldn’t even entertain customer’s request to put money in FDs or invest in mutual funds to get a locker and insisted on Ulips. Most of the Bank’s sales-focused culture elevates the risk that employees may flout consumer protection rules. Targets and financial incentives had contributed to a culture in retail banking that heavily emphasized sales, and that oversight measures to protect consumers were not sufficient. This environment increases the potential for mis-selling products and services that may be incompatible with consumer needs and financial situations, as well as breaching market conduct obligations. Banks’ increased focus on sales and advice in their branch and call-centre operations — sharpened by technological advances — have outpaced controls to mitigate the risks of rule-breaking or selling customers products or services they may not really want or need. Financial and non-financial incentives may heighten the sales-related risks. Compensation programs with variable pay as a significant component can lead to mis-selling because employees may look to increase sales to maximize their commissions or rewards. While employees who don’t hit sales targets aren’t generally fired, they do receive coaching or training, and those who stick around or get promoted tend to be those who thrive in a workplace culture focused on sales. Moreover, a recent shift towards “more customer-centric sales practices” is still primarily aimed at helping employees nail down sales opportunities. Banks have also outsourced sales of credit cards and other products to third parties with weaker oversight and sales targets that could encourage the use of “high-pressure tactics.” There are “numerous instances” of inadequate investigations of consumer complaints as well. This followed a recent report by the Ombudsman for Banking Services and Investments, which can investigate the complaints of customers who weren’t satisfied with the banks’ internal dispute-resolution system, that found its banking-related complaints increased last year. To be fair, not all bank employees are bad apples. We had also very much good experience with some other Nationalized and Private Banks. Bank employees roam everyday around the customers when customers have large amount of cash lying in their accounts. As soon as cash is no longer available they cannot be seen anywhere nearby. Again bank can now claim that the customers (we) have signed on various forms as given to us at the time of opening of accounts. That’s TRUE but let me tell you that all the customers’ signs all the forms IN GOOD FAITH ONLY and as per verbal & telephonic conversation had with the officials and nobody tries to read each and every TERMS AND CONDITIONS as mentioned in the forms. Customers trust the words and assurances of the officials only. So we can now see that the end customer cannot do much in the court of law as there is no evidence of assurances given by the bank officials and court will only consider our SIGNATURE on the Forms only as an agreement. SO THIS IS THE REAL ETHICAL PRACTICES OF FOOLING, MIS-SELLING, MIS-LEADING FOLLOWED BY KOTAK MAHINDRA BANKS OFFICALS. We would like to put the said branch officials put to LIE DETECTOR TEST to bring out the actual TRUTH. WE WOULD NEVER RECOMMEND KOTAK MAHINDRA BANK TO ANYONE. WITH THIS LETTER WE WOULD LIKE TO REQUEST RBI AND CONCERNED BANKS TO TAKE ALL NECESSSARY CHECKS AND SYSTEMS TO STOP ALL THESE MIS-SELLING AND FRAUDS AND RESOLVE OUR CASE ON URGENT HIGH PRIORITY BASIS. @KotakBankLtd #WorstBank #KotakSucks #KotakisLooting #SayNoToKotak #Scam #FuckKotak #KotaklisWorst #FakePromises #Trouble_with_Kotak #Boycott #BoycottKotak #AbolishKotak #AbolishKotakBank #ShameOnKotak #Worst #Fail #KotakCares #Kotak #KotakBank #KotakMahindra #KotakMahindraBank #Patheticbanking #FraudBank #FakeMarketing #KotakFail #BanKotak #RBI #UdayKotak #Harassment From, Asha Kanta Sharma +91-98642-72826"
शशांक says"@KotakCares I have written to kotak bank from the website several times, and yet to receive a reply . This sucks. https://t.co/ROzDkay3Cl"
Kotak Arts says"RT @Jamie_Margolin: This isn’t because “2020 sucks”, it’s because of climate change and the fossil fuel industry, who knew for decades the…"
KotakCares says"@madhuri_milind Hi! Sincerely apologize, pls complete the formalities of KYC by visiting the nearest branch, when t… https://t.co/EsxAlIRMfn"
KotakCares says"@sesha1971 Hi! Bringing in @KotakSecurities to have this addressed ^Team Kotak"
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