2017-09-06 :Kotak Bank reduces MCLR rates across all tenors
Kotak Bank has reduced its marginal cost based lending rate (MCLR) across all tenors. For overnight and one month maturities, the rate has been revised to 7.70 per cent while for three month maturities the rate has been reduced to 8.10 per cent. The new MCLR rate for six month and one year is 8.30 per cent and 8.60 per cent respectively. The new MCLR rates are effective from 1st September, 2017.
2017-08-22 :Kotak Mahindra Bank eyes growth in its home loan business
Post demonetisation, Kotak Mahindra Bank plans to further strengthen its home loans besides maintain a steady growth in its business loans and personal loans. Simultaneously, the bank has plans to grow its business loans portfolio by 25 per cent as against 21 per cent in FY18.
2017-08-21 :Kotak Mahindra Bank Kotak 811 saving account goes beyond mobile app
Kotak Mahindra Bank customers can now open a zero balance 811 account through multiple digital platforms as against earlier limited option of mobile app. With this initiative, the bank aims to provide more convenience to its savings bank deposit customers to open a bank account instantly from anywhere in India.
2017-08-09 :Kotak Bank launches debit card offer for zero balance account
Private sector lender, Kotak Mahindra Bank has announced that it will offer a debit card worth of Rs. 99 who will open account under its zero balance account scheme. In its statement, the bank has clarified that these debit cards will be available only to those customers who will open an 811 account in the bank from 8th August to 15th September, 2017.
2017-08-04 :Kotak Mahindra Bank retains savings bank account rates at 5-6 per cent
Post announcement of repo rate cut by RBI, Kotak Mahindra Bank has decided to keep its savings bank rates steady at 5-6 per cent. Currently, the bank is offering 5 per cent interest on SB deposits up to Rs. 1 lakh and 6 per cent on deposits above Rs. 1 lakh and up to Rs. 5 crore. While for deposits above Rs. 5 crore, the bank offers the rate of 5.5 per cent.
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