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Loans offered by Kotak Bank
| Kotak Bank Loans | Interest Rate | Processing Fee | Loan Amount/Tenure | |
|---|---|---|---|---|
| Kotak Bank Personal Loan | 10.99% | Up to 3% | ₹50K - ₹40LTenure(1 - 5 Years) | Know More |
| Kotak Bank Home Loan | 8.75% - 9.6% | 0.5% - 1% | ₹10L - ₹10CrTenure(5 - 25 Years) | Know More |
| Kotak Bank Loan Against Property | 9.15% | Up to 1% | ₹10LTenure(Up to 12 Years) | Know More |
| Kotak Bank Business Loan | 17% - 28% | Up to 2% | ₹3L - ₹75LTenure(1 - 5 Years) | Know More |
Features and Benefits of Kotak Mahindra Bank
- Instant bank account opening using Aadhaar details and e-KYC verification method
- No commitment to managing the minimum balance
- Earn up to 4% interest per annum.
- Single touch Kotak banking solution
- Option to avail a virtual debit card
- Purchase limit of INR 2.5 lakhs daily
- Free availability of multi-city cheque book
- Scan and pay in-store purchase feature
- No maintenance fees on the 811 account
- Speed clearing cheque collection
- Personalized design on the debit card
- Lost card liability-free insurance
- 24×7 assistance by the bank
Overview of Kotak Mahindra Bank
Kotak Mahindra Bank is an Indian financial service company whose headquarter is located in the city of Mumbai, India. The bank offers several financial services and banking products to both retail and corporate customers. These customers belong to the field of personal finance, investment finances, management of wealth and life insurance.
The financial institution is the third-largest private sector banking institution in the country by both capitalisation and assets as of November 2021. Kotak Mahindra Bank has established around 1603 branches and 2573 ATMs across India as of December 2020.
In 1985, Kotak Mahindra was founded by Uday Kotak, one of the top Indian bankers. Kotak Mahindra Finance Ltd. (the flagship organisation of the group) received a banking licence in February 2003 from the Reserve Bank of India (RBI). KMFL became the first non-banking organisation to get converted into a bank in India after receiving a banking licence.
In the year 2014, Kotak Mahindra launched several social media and digital innovative solutions such as KayPay and JIFI. In the same year, Kotak became the world’s top 500 banks, ranked at number 245 with ratings of AA+ and brand value of around US$ 481 million.
Mission and Vision
Kotak aims to provide their customers with the best possible customized financing solution and deal with the benefits of being associated with the global Indian financial brand. The brand has created an ethos of trust across and beyond the borders of India. With its detailed, simple and modest staff, it delivers outstanding financial performances and promises to continue it in the upcoming future.
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Kotak Bank IFSC Codes
- Kotak Bank Andhra Pradesh
- Kotak Bank Assam
- Kotak Bank Bihar
- Kotak Bank Chandigarh
- Kotak Bank Chhattisgarh
- Kotak Bank Dadra and Nagar Haveli
- Kotak Bank Delhi
- Kotak Bank Goa
- Kotak Bank Gujarat
- Kotak Bank Haryana
- Kotak Bank Himachal Pradesh
- Kotak Bank Jammu and Kashmir
- Kotak Bank Jharkhand
- Kotak Bank Karnataka
- Kotak Bank Kerala
- Kotak Bank Madhya Pradesh
- Kotak Bank Maharashtra
- Kotak Bank Odisha
- Kotak Bank Puducherry
- Kotak Bank Punjab
- Kotak Bank Rajasthan
- Kotak Bank Tamil Nadu
- Kotak Bank Telangana
- Kotak Bank Tripura
- Kotak Bank Uttarakhand
- Kotak Bank Uttar Pradesh
- Kotak Bank West Bengal
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FAQs
From refinancing to reducing your interest, we have the answers right here.
How can I open a Kotak Bank account online?
You can easily open a Kotak 811 account online through the official website of Kotak Bank or via their mobile banking app. Regardless of the chosen mode, you just have to proceed with the registration procedure. Enter your Aadhaar details, PAN number and some additional information to make the procedure quick and seamless. Set up your mobile banking PIN so that you can immediately start using the Kotak Bank account.
Why do I need to add a nominee to my account?
Adding a nominee is considered smart when it comes to banking and associated services. In the occurrence of an unfortunate event, the account funds are transferred to the nominee with utmost ease without extensive paperwork. However, it is not mandatory to add a nominee. If you are not willing to add a nominee, you get the option to mark ‘I don’t wish to add a nominee’ specifically while opening a new account. You can also add nominees later if you want.
How to activate Kotak Bank Mobile Banking?
You can easily activate your Kotak Bank mobile banking facility through its official mobile application. Authenticate your account through your CRN or debit card pin and create a 6 digit mPIN for the app. After successful activation, you will receive a confirmation message on your registered mobile number.
How can I convert my normal Kotak savings account to an 811?
If you want to convert your regular Kotak savings account to a Kotak 811 account, you will have to verify your KYC details. Book your KYC appointment through the Kotak Bank MobileBanking App. After receiving your request, the bank executive will visit your place to initiate KYC verification.
What are the features of Kotak 811?
Kotak Bank offers foremost banking services to its customers through Kotak 811 – a complete Digital Bank Account. Kotak 811 provides numerous features for the customers, including a 4% of interest rate on account balance, a virtual debit card facility, no-cost online fund transfer through NEFT and IMPS, no minimum balance commitment and much more.
Can I hold my account jointly with another applicant?
No, you cannot hold your Kotak 811 account jointly with another applicant. It is intended specifically for individual users and, thus, cannot be held jointly.
How can I know my Kotak Bank IFSC code?
Your Kotak Bank IFSC code is present on every page of your cheque book, front page of your passbook and bank statement. You can also get your IFSC code specific to your bank branch through the overview section present in the NetBanking and MobileBanking tab of the official website.
What is an MPIN and why do I need to set one?
An mPIN is a numeric code that you will have to enter while making mobile transactions. In Kotak Bank, the mPIN is of 6 digits and you need to set one to secure your account transactions.
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