Soon after a handful of banks came out with their Diwali offers, Kotak Mahindra Bank today unveiled ‘Kona Kona Utsav’ – a festival of attractive offers – to give many moments of joy to its customers this season. The bank is offering special rates on home loans, loan against property, working capital loans and business loans. Futher, customers applying for home loans and business loans will get a part waiver on processing fees. These offers are valid on new loans availed by customers till December 31, 2017.
Each customer availing a new loan product through any of Kotak’s bank branches or opening a new Savings Account or Current Account during this period will also get discount vouchers worth up to Rs 15000 from Club Mahindra, Musafir.com, Myntra and ShoppersStop.com.
Talking about this, 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.”
Home loans during Kona Kona Utsav will be available @ 8.35% p.a., a rate which is at a 6-year industry low. The Kona Kona Utsav special home loan interest rate of 8.35% p.a. will be applicable to all customers who take a loan from now until the end of December 2017. Further, 50% of the processing fee will be waived on loans till December 31, 2017. Each home loan will also come with a zero balance savings account.
A customer taking a business loan can now avail it at 1% lower interest rate in addition to a 25% waiver on the processing fee. Additionally, loan against property is available at a special interest rate of 9.25% p.a.