2017-10-17 :Kotak Mahindra at 40% retail in its lending portfolio
Due to lack of credit demand from corporates, retail continues to be the focus for banks. On similar lines, Kotak bank has advanced over Rs. 56000 crore to retail borrowers as opposed to the total lending of Rs.142,359, making retail credit a 40% share.
2017-10-16 :Credit growth on the rise since 2010- KMB
There has been a growth of 24% in small business, personal loan and credit cards advances of Kotak Bank since last year. These loans together account for Rs 18,277 crore, which translates to around 10% of its assets. With over 10 lakh credit card holders and 37% growth in its retail loans, Kotak Bank is eyeing aggressive growth in credit cards. Delinquency rates in credit cards have also dropped from 6% in 2010 to 1.5% in this fiscal. Several offers for ecommerce buyers such as easy EMI conversion and float loyalty programmes has led to this growth.
2017-10-13 :Kotak Mahindra Bank offers festive loans
Festive offers on home loans, loan against property, working capital loans and business loans along with waiver of part of full processing charges was announced by Kotak Mahindra Bank during Kona Kona Utsav. Home Loans will be offered at 8.35 percent per annum to all new customers until the end of December 2017.
2017-10-12 :Defaulters have a 2nd chance of getting loans at Kotak Bank
In order to give defaulters a second chance, Kotak has initiated psychometric tests to analyse whether the default made by a customer was deliberate or due to financial weakness and whether the client has any intentions of defaulting again, irrespective of the financial strength. Kotak has partnered up with Index Advisory, the firm which has built the psychometric test, to measure borrower credit profile.
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.
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