1. Build your Credit Score
2. Reduce your Current Borrowing / EMI Costs
Kotak Mahindra Bank was established in 1983. Since then, the bank has grown to be one of the most trusted and reliable banking institutions of the country. The headquarters of Kotak Mahindra Bank is in Mumbai. Kotak Mahindra Bank has an extensive network of 1,369 branches and 2,163 ATMs spread across 689 cities in India.
Kotak Mahindra Bank has an impressive array of services such as investment banking, personal banking, life insurance, and wealth management. mymoneykarma gives you a brief glimpse into these Kotak Mahindra Bank services.
In addition to the various financial products, Kotak Mahindra offers several facilities that are intended to enrich its customer experience, that are listed below.
Kotak Mahindra Net Banking
Kotak Mahindra Mobile Banking
Kotak Mahindra Customer Care Services
Kotak Mahindra Mobile App
The Kotak Mahindra IFSC code is used for electronic financial transactions for Kotak Mahindra customers. Each branch of Kotak Mahindra bank has a unique IFSC code. The first four letters are KKBK, and the last six letters represent the branch code. An example would be KKBK0002027.
Cars are increasingly becoming a necessity rather than a luxury. Kotak Mahindra recognizes this growing need and has come up with affordable car loans to help customers buy their dream cars. The loan can be used to buy a passenger car, a multi-utility vehicle, or a sports utility vehicle. The loans have low interest rates and a straightforward application process. Some benefits of Kotak car loans include the following.
Financing a wide range of cars from some leading brands
Competitive interest rates
Swift processing and disbursal
LTV of up to 90% of the car value
Reasonable loan tenures up to 7 years
Thousands of families aspire to own their home someday. Kotak Mahindra Bank helps these families by providing affordable home loan solutions to buy a house. Kotak Mahindra Bank home loans are designed to cater to all home needs of their customers with these benefits.
High loan amounts
Balance transfer facility
Zero penalties on foreclosure of the loan
Transparent application process
Hassle-free and minimal documentation
Available to a large pool of customers
The facility of top-ups on existing home loans
Attractive rates of interest
Document collection at the doorstep
Insurance options to cover a customer’s home loan at a lower premium
Kotak Mahindra Bank provides its customers with gold loans for financing all types of financial requirements that its customers have. The following features of gold loans from Kotak Mahindra make them popular among customers
Gold articles sealed in the presence of customers
Highest security provided to the storage of gold articles
Status of loan processing conveyed to customers swiftly
Fast and efficient loan approval process.
A customer’s property, apart from being their permanent asset, can serve as a significant source of income as a loan against property. Kotak Mahindra offers loans against property or LAPs as alternative options for customers to meet their varied financial requirements. Customers don’t have to provide any justification for the end use of the loan funds. Kotak Mahindra LAPs allow both residential and commercial properties to be pledged to the bank for the loan. The loan amount can range from Rs. 10 lakhs to Rs. 5 crores based on the value of the property pledged to the bank. Residential, commercial and industrial properties can be used as collateral. The loan tenure is flexible, and hence repayment becomes easier for the borrower.
Higher education is essential for the further development of careers and personalities of students. However, with a college education becoming costlier by day, not many students and their families can afford it. Kotak Mahindra offers different types of education loans to help these students and their families fulfill their dreams of education in a top institute. The loan amount depends on the educational institute and the income of the borrower. There are minimal documentation formalities, and the loan is quickly approved.
Kotak Mahindra provides personal loans to its customers for their financial needs at very affordable rates of interest and easy EMIs. The benefits of Kotak Mahindra personal loans are given below.
Easy and straightforward loan application process
An effortless and hassle-free documentation process
No need for collateral and other security
Attractive interest rates starting from 10.75%.
Option to choose one’s loan tenure.
Top up personal loan facility available
Flexible repayment options
Instant loan approvals
Kotak Mahindra provides a vast range of credit cards to suit the needs of different types of customers. These cards are made to maximize the benefits when the customers are shopping, traveling, dining, entertainment, booking airline tickets and much more. Here are some of the features of the credit cards from Kotak Mahindra Bank.
The facility to transfer balances from credit cards of other banks.
Flexipay option to break huge expenses into affordable EMIs.
Hassle-free shopping experience with convenient repayment options.
Secure payment of utility bills with attractive cashback rewards.
Some of the best credit cards offered by the bank are-
Royale Signature Credit Card
Solaris Platinum Credit Card
League Platinum Credit Card
PVR Gold Credit Card
Essentia Platinum Credit Card
Aqua Gold Credit Card
PVR Platinum Credit Card
Urbane Gold Credit Card
Customers who open savings accounts with Kotak Mahindra get complimentary debit cards with them. All Kotak Mahindra debit cards are accepted internationally and offer various rewards and benefits. The types of benefits that Kotak Mahindra debit cards provide are listed below.
A higher withdrawal limit
Personal accident death insurance cover
Usage safety
A Facility of SMS alerts
Fixed Deposit schemes by Kotak Mahindra Bank are some of the best ways for customers to save money and earn interest. It gives customers stable returns and liquidity along with the flexibility to choose how the customer would want the interest to be accrued- monthly or quarterly. Types of fixed deposits offered by Kotak are-
Regular Fixed Deposit
Reinvestment Fixed Deposit
Senior Citizen Fixed Deposit
Tax Saving Fixed Deposit
Kotak Mahindra FD schemes have the following benefits.
Attractive rates of interest
Excellent tax-free returns on investment
No penalty on premature withdrawal
Overdraft facility against deposits
Tenure | Regular Interest Rate | Senior Citizen Interest Rate |
7-14 days | 3.50% | 4.00% |
15-30 days | 4.00% | 4.50% |
31-45 days | 4.75% | 5.25% |
46-90 days | 5.25% | 5.75% |
91-120 days | 5.40% | 5.90% |
121-179 days | 5.40% | 5.90% |
180 days | 5.75% | 6.25% |
181-269 days | 5.80% | 6.30% |
270 days | 5.80% | 6.30% |
271-363 days | 6.05% | 6.55% |
364 days | 6.05% | 6.55% |
365-389 days | 6.30% | 6.80% |
390 days | 6.30% | 6.80% |
391 days to 22 months 29 days |
6.30% | 6.80% |
23 months | 6.30% | 6.80% |
23 months 1 day to 1 year 11 months 29 days |
6.30% | 6.80% |
2 years - 2 years 364 days |
6.25% | 6.75% |
3 years - 3 years 364 days |
6.20% | 6.70% |
4 years - 4 years 364 days | 6.20% | 6.70% |
5-10 years | 6.10% | 6.60% |