Kotak Mahindra Group (Kotak) has kick-started the festive season with a number of offers under its 2020 edition of Khushi Ka Season. Kotak is offering attractive loan rates, loan processing fee waivers and quick online loan approvals on a range of retail and agriculture loan segments.
In a statement, Kotak Mahindra Bank said that customers can avail home loans starting at 7 per cent per annum. They can also make savings of up to Rs 20 lakh on Balance Transfer cases.
The 7 per cent interest rate on home loan offered by Kotak Mahindra Bank is at par with State Bank of India’s home loan rate. Currently, the effective borrowing rate for loans under Rs 30 lakh for SBI is at 7 per cent with a 0.05 per cent concession for women borrowers, according to SBI website.
Commenting on the launch of festive offers, Kotak Mahindra Bank’s group president for consumer banking Shanti Ekambaram said, “The Indian economy is steadily moving towards normalcy and we are seeing the early signs of the return of consumer confidence and demand,”
“The new scheme will be for a month and will address a customer’s needs ranging from borrowing to shopping to payments to savings, she added.
Kotak customers can also avail special offers on other banking products including savings accounts, debit and credit cards and no-cost EMI payments.
Kotak has partnered with leading e-commerce players such as Amazon.in and Flipkart with exciting offers for Kotak debit and credit cardholders.
Moreover, Kotak has tied up with over 100 brands to introduce curated deals on its debit cards, credit cards, payments via Kotak net banking and mobile banking channels and no-cost EMI.
Kotak Mahindra Bank has also announced halving of processing fees on car loans, two-wheeler loans, and borrowings for agri business, commercial vehicle and construction equipment finance.