Kotak Unveils Festival Loan With Special Interest Rate Offering

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Under its loan offering Kona Kona Utsav rolled out around the festivities, the private sector lender is offering special loan interest rates for home loans, LAP, business loans and working capital loans. A 6-year low rate of 8.35% p.a. applies to home loan. Also each of the new loan account will also have a zero balance account associated with it. The offer available until the end of the calendar year is providing waiver on processing fee of 50% for those making fresh application for home and business loans.

Kotak Unveils Festival Loan With Special Interest Rate Offering

Business loans will be cheaper by 1% in comparison to its usual rate plus 25% waiver shall be extended on the processing fee. LAP shall also be offered at a special rate of interest of 9.25% p.a.

Not only on availing a loan but also on opening a new savings or current account, the banker is extending discount vouchers worth Rs. 15000 from different retailers across categories including ShoppersStop.com, Musafir.com, Club Mahindra and Myntra.

Sumit Bali, Senior Executive Vice President & Head - Personal Assets, Kotak Mahindra Bank, said, "In India, people prefer to buy or invest during the auspicious festive period. We want our customers to fulfill their dreams - be it buying a home or taking a loan for business purposes. 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."

Story first published: Friday, October 13, 2017, 12:33 [IST]
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