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Oct 16, 2017 11:14 AM IST | Source: Moneycontrol.com

Kotak Mahindra Bank offers festive loans till December 31

Kotak Mahindra Bank today announced festive offers on home loans, loan against property, working capital loans and business loans along with waiver of part of full processing charges.

Kotak Mahindra Bank offers festive loans till December 31

Moneycontrol News

Kotak Mahindra Bank today announced festive offers on home loans, loan against property, working capital loans and business loans along with waiver of part of full processing charges.

Home loans during 'Kona Kona Utsav' will be offered at 8.35 percent per annum, at par with Axis Bank, applicable to all customers who take a loan from now until the end of December 2017.

Further, 50 percent of the processing fee will be waived on loans till December 31, 2017 along with a zero-balance savings account.

Further, customers applying for home loans and business loans will get a part waiver on processing fees. These offers are valid on new loans availed by customers till December 31, 2017.

Each customer availing a new loan product through any of Kotak’s bank branches or opening a new Savings Account or Current Account ((Pro, Ace, My Family, Privy League) during this period will also get discount vouchers worth up to Rs 15000 from Club Mahindra, Musafir.com, Myntra and ShoppersStop.com.

Offers

  • Home Loans -- 8.35 percent p.a. + zero balance Kotak Savings Account with a 50 percent Processing Fee waiver

  • Business Loans -- 1 percent lower rate than rack rate + 25 percent waiver on processing fees

  • Working Capital Loans -- Balance transfer up to 1.5 percent lower rate than prevailing interest rate on existing cash credit / overdraft rate (MCLR rates)

  • Loan against Property -- 9.25 percent p.a.

  • Gold Loans -- 11 percent p.a. at zero processing fees with 50 percent foreclosure charges post 6 months of loan completion

  • Loan against Securities -- Special rate of 9.50 percent p.a. with processing fee of Rs 999 (zero processing fee for privy and wealth customers)

  • Personal Loans -- Interest rate as low as 10.99 percent p.a. with 0.99 percent processing fee

Sumit Bali, Senior Executive Vice President and Head – Personal Assets, Kotak Mahindra Bank, said, “In India, people prefer to buy or invest during the auspicious festive period. With Kona Kona Utsav, our aim is to enable our customers to celebrate these new beginnings by availing loans at special rates and lower processing fees while also receiving travel and shopping vouchers.”
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