Kotak mahindra bank home loan india

Kotak to raise $300mn via offshore funds

Kotak Mahindra Bank is raising a total of $300 million through three separate offshore funds - an infrastructure fund, a Shari'ah fund for Muslim investors and a multi-cap fund for European investors - to tap the growing appetite of global investors.

The Mumbai-headquartered private sector financial services major has collected about $150-175 million through an infrastructure fund, which is the first such fund launched overseas for investments in infrastructure companies listed on the Indian stock markets. The fund closed its initial mobilisation on November 9.

Kotak Mahindra Bank, which manages nearly $2 billion overseas funds in Indian equity markets through its international subsidiaries, is also in the process of marketing a European regulated 'Kotak India Multi-cap Fund', which will eventually become the bank's flagship fund in India, said Paul Parambi, head of its international business.

Kotak Mahindra home loan India news...

Global funds can stress it out more in India - Economic Times
Global funds can stress it out more in India Economic Times ... vice-president at the Kotak group-promoted Phoenix ARC. The main players in the bad loan market are asset reconstruction companies (ARCs), ... and more » - 26 hours ago
Godrej Properties fixes IPO price band at Rs 490-530 - Business Standard
Godrej Properties fixes IPO price band at Rs 490-530 Business Standard ICICI Securities, Kotak Mahindra Capital are acting as the global coordinators and book running lead managers, while IDFC-SSKI and Nomura Financial Advisory ... and more » - 20 hours ago
Dubai just an excuse for market correction - Economic Times
Dubai just an excuse for market correction Economic Times “The impact, if any, could be confined to companies having exposure to Dubai,” says Alroy Lobo, chief strategist and global head of equities, Kotak Mahindra ... and more » - 5 days ago

Now Loan you dream home with Kotak Bank

This festive season your dream home may just be within your reach. The slowdown in retail asset growth and competitive pressure have forced banks to reduce rates on retail loans.

Kotak Mahindra Bank has also reduced its floating home loan rates by 50 basis points. ICICI Bank, the largest private sector bank in the country, last week cut its retail loan rates, except for home loans, by 50 basis points.

Kotak Mahindra launches investment bible

The Kotak Mahindra Group along with CNBC announced the launch of the investment bible 'Everything you wanted to know about Investing'. Available as an interactive CD ROM (Rs 499) and in a book form (Rs 299), the tome is billed as the encyclopedia of investment and wealth creating intelligence. Among the first of its kind in its comprehensive coverage of the topic, it hopes to give the Indian investor a much-valued insight into various investment options and the process of investing on the basis of individual goals and targets

Available in major stores, the product takes the user through the importance, key stones and process of investment in the Indian sub context. It covers various asset classes such as equities, debt, art, gold, insurance; alternates such as private equity, real estate and even structured products. It also seeks to educate the customer about managing home loans and credit cards. With calculators that help in developing a model portfolio and risk profile calculators among others, the product becomes the one stop source of reference and action for the informed and the lay investor.

Kotak Mahindra Bank Cuts floating home loan rates

This festive season your dream home may just be within your reach. The slowdown in retail asset growth and competitive pressure have forced banks to reduce rates on retail loans.

After HDFC reducing floating home loan rates by 50 basis point, it is now the turn of Axis Bank, which has reduced its floating home loan rates by 50 basis points to 10.50 per cent for existing and new customers.

However, it is important to note that the reduction in rate is on floating rate loans, which can be increased at the discretion of the bank depending on the market situation.

Planning for owning your dream shelter

A benchmark rate is used as the base to which the banks/HFCs (housing finance companies) link the effective rate of interest. The effective floating loan rate is usually 2-3% higher/lower than this rate. This benchmark is not the actual cost of funds for the bank, but an internal measure related to the cost of funds. The difference between the cost of funds and your home loan rate is the bank's 'spread'.

Earlier, banks and HFCs have tried and tested various independent benchmarks for customers. UTI Bank and Kotak Mahindra Bank had introduced an alternative home loan product, which linked the interest rates to one-year fixed deposits.

Explains a Kotak Bank official: "We had introduced the FD rate-linked product, as any rise in cost of funds would affect deposit rates, which in turn, would influence lending rate as well. This would lead to a lot of transparency in the rate calculation." But for some internal reasons, both banks have withdrawn the product. Currently, ING Vysya uses an independent benchmark. It uses the three-month FIMMDA-NSE Mumbai Inter-bank Offer Rate (Mibor) index operated by the National Stock Exchange as the benchmark.

Features & Benefits of kotak mahindra home loan

Wide range of offerings: Apart from the plain vanilla Home Loan, you can also avail of the exact scheme that suits your needs. You can choose:

* Kotak Flexi Home Loan

* Fixed Deposit linked Home Loans

Attractive interest rates:

Your finance facility comes to you at very attractive interest rates. And what's more, there are no hidden charges to it.

Free personal accident insurance:

We offer a free personal accident insurance cover - upto Rs. 1 crore along with your loan, that ensures that you are covered for any accidental mishaps and your family is well protected.

Pre-Approval facility:

You can get a sanction for your loan amount based on the income, assets and employment information you provide during your consultation with Kotak Mahindra Bank. You may come across a property which you need to close at a short notice. In such a situation, this sanction can help so that you don't miss the opportunity. Finding a good home is not easy, so the sanction is good for 6 months, giving you time to shop for the home of your choice.

Insurance options on your Home Loans:

You can also avail of a reducing insurance cover at an exclusive premium, so that you are rest assured that should any unfortunate mishap occur to you, your family is safeguarded from any repayment burdens over the tenure of the loan.

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