Addressing the cash-based banking needs of rural and semi-urban customers, Kotak Mahindra Bank Limited (“KMBL”/”Kotak”) announces the launch of Sankalp Savings Account that offers a host of services such as nil charges on cash deposit and withdrawal up to Rs 24 lakh annually and flexibility in account balance maintenance. In addition, Sankalp also provides special interest rates on gold, two-wheeler and tractor loans for customers in these markets.
Kotak Mahindra Bank has launched the Sankalp Savings Account to cater to emerging customers with incomes beyond agriculture and farming. The account offers banking services, complimentary talk time, and a Payshopmore debit card for rural and semi-urban customers. Key features include a one-time benefit of Rs. 250 per unique customer, 100% and 50% waivers on processing fees on Gold Loan and Two-Wheeler & Tractor Loan, a Payshopmore debit card with daily ATM withdrawal and purchase limits, personal accident death insurance, lost card liability, and access to special offers in dining, shopping, and travel. Puneet Kapoor, President And Head – Distribution, Retail Liabilities, Kotak Mahindra Bank, said, “Sankalp Savings Account provides convenient banking with attractive value-added services that have been specifically curated for this customer cohort.”
