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67%
3.27 

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Bangalore India
Invest with care
Feb 03, 2015 11:34 PM 125455 Views

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Kotak mutual fund offers some good funds. It was referred to me by Citibank. I invested in Kotak fund through Citibank. I got decent returns until I was invested in the scheme. After 4 months, I wanted the money and applied for redemption to Kotak Mutual.


The problem started here, they took ages to redeem my fund. I had to write to them several times, before I got my money credited back. They follow the gospel, settle the redemptions in T+4 days and stick to it religiously. Even though you will exit from your fund on T day, you will not get your money credited until the 5th Business day(they work from Monday to Friday only).  So they keep your money unethically for close to a week denying you return on your hard earned money.


So beware of such unethical practices and invest with care


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