Kotak Mahindra Bank, the fourth largest bank in India was incorporated in the year 1985 by Mr. Uday Kotak to offer infinite solutions and possibilities for financial needs of Indian lives. Kotak Mahindra Finance Limited (KMFL) the flagship organization for Kotak group received its banking license from the Reserve Bank of India (RBI) in February, 2003. With the license obtained by KMFL, KMFL merged as the first non-banking organization to be transformed into a bank now known as Kotak Mahindra Bank Limited (KMBL).
As per the study of Brand Finance Banking 500, that was published in February 2014 by Banker Magazine, KMBL ranks 245 among leading 500 banks in the world with its brand evaluation of around half a billion dollars ($481) and brand rating of AA+. Kotak Mahindra Bank Limited also ranked as one of the top 5 best organizations for Corporate Governance in IR Global ranking.
Kotak acquired ING Vysya Bank dated 1 April 2015. The merger led to a win-win situation for both Kotak as well as ING Vyasa Bank with ING Group holding a 7% share in Kotak Mahindra Bank and simultaneous increase in the human resource count. Now the banks together under one brand name “Kotak” can cater for the needs of over 230 million Indians. People may also get benefited from offers such as 6% rate of interest per annum on savings accounts with over rupees one lac in their account and easy access through its over 1200 branches and 1900 ATM's at 643 locations across the country.
Various types of loans that Kotak offers everyone are
Home Loans - Home Loan Balance Transfer - Home Improvement Loans
• If you were looking for a Home loan now you can avail it with the bank’s service at your door step.
• You can avail 90% of your home cost with the banks home loan schemes.
• Repayment is made easy through low EMI's and attractive rate of interests.
• You can revisit your existing home loan charges with Kotak.
• You can as well avail a home improvement loan for a purpose of renovation of any kind to give your home a new look.
• The documentation for availing the loan is hassle-free and simple process along with a quick disbursement process.
• Personal loans are available starting from Rs. 50,000/- to Rs. 15 Lac for your personal needs such as weddings, vacations, decorating your home and so on
• The payment can be made in a flexible manner with a long repayment period of 12 to 60 months for salaried customers along with low EMI and attractive rate of interest.
• The bank provides a doorstep service for the ease of its customers. The banks customer care executives are just a call away.
• The loan approvals and documentation processes are quick and hassle free.
• Education loans up to Rs. 10 Lac for your education in India and Rs. 20 Lac for your education abroad are available depending on your requirements and eligibility along with hassle-free documentation.
Tractor Loan, Rural Auto and Farm Equipment Loan
• At Kotak, loans are available for the purchase of old as well as new tractors, auto mobiles and farm equipment's.
• You can revisit your loan costs by considering a balance transfer or to avail a top up over an existing loan.
• You can also apply for a loan sitting at home by availing bank’s service at your doorstep.
• Availing a loan with Kotak is easy and fast process with an advantage of minimum documentation.
• The loans are available with pocket friendly EMI's, rate of interests and after sale service.
Loan against Property
• Loan against property can be availed for expansion of existing business, emergencies, etc.
• Kotak provides flexible loan eligibility for business man
• The loans are available ranging between Rs. 10 Lac to 3 crores.
• Loan against property are available against residential as well as commercial property.
• Loans are flexible such as loans based on EMI or overdraft facility with easy repayment through flexible loan tenures.
• Gold loans at Kotak can be availed against gold or gold ornaments.
• The repayment of loans can be made through various options such as
» By paying monthly interest every month and paying the principal amount at the end of the tenure.
» By paying an EMI every month.
Commercial Vehicle Finance
• Commercial equipment loan can be availed through 900 locations spread across India that served through the direct sales force.
• The commercial equipment's include commercial vehicles such as trucks, buses, tippers, light commercial vehicles, and small commercial vehicles.
• The documentation for availing these loans is not complicated, feasible and flexible with loan tenure for a period of 12 to 60 months without any hidden cost incurred by the bank.
Loan against Securities
• The bank offers very competitive rate of interest for Stock Ace Accounts.
• You can as well avail instant liquidity though an overdraft facility against investments in equity shares, mutual funds, and other investments. The interest is charged only on the funds utilized.
• The loan tenure may vary from 1 to 36 months which can be renewed yearly.
Construction Equipment/ Infrastructure Finance
• Kotak provides loans for purchase of new as well as used construction equipment or vehicle.
• Apart from the hassle free process the facilities like balance transfer and top up is also available.
Unnati Auto Finance
• Unnati Auto finance scheme is specialized scheme for financing used as well as new commercial vehicles, construction equipment, SUV, MUV as well as taxis.
• The financing is flexible, hassle free, and quick.