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Kotak Mahindra Bank is the fourth largest Indian private sector bank by market capitalization, headquartered in Mumbai, Maharashtra. Kotak Mahindra group, established in 1985 by Uday Kotak, is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking licence from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to be converted into a bank – Kotak Mahindra Bank Limited (KMBL)
Best Bank in 2014 by Business India
Most Imminent Bank 2014 by Outlook Money
Gold Award for Best Innovation - World's first socially powered bank account
Gold Award for Best App developed - World's first banking application using Twitter
Best Prepaid Card Programme' at Financial Inclusion & Payments System (FIPS) 2014 for Kotak Samruddhi
Best Local Cash Management Bank in India (6th year in a row) in the Asiamoney Cash Management Poll 2014
Accelerate the Business Growth
For immediate Business Requirement
For Boosting Revenue
For Training the Manpower
Foreign Business Trips
New Business Contracts
Setting up a new branch
To Purchase Stock
Owning a business is an exciting journey. When starting off there are many odds and ends to be met, once the business is set things will begin to takeoff. However nothing is possible in the business world without the right financing. Many business owners will review the financing options available to them, Kotak Mahindra Bank Business Loans are the best suitable for kind of your requirements.
As a business owner, your most difficult task is finding the money to operate your business. Taking the necessary steps to prepare for a small business loan can minimize the difficulty.
Learn what you need to know to clinch the loan deal.
You can get a loan for your business by proper preparation. The main requirements of attaining a business loan are your credit history, business plan, experience, education, and feasibility of the business you are expanding.
The most important task to obtain a business loan is to improve the business. Your business plan must answer the questions, a lending institution would ask for following.
Rate of Interest will be based on bank/financial Institutions internal policies and terms. Generally Bank account conduct, reputation of the entity, repayment capability, credit history, Promoters Back ground and other credit related factors which can be evolve for Kotak Mahindra Bank Business Loans.
Tenor: from min of 12 months to Max of 48 months.
Interest Rate: from min 16(percent) to 22 (percent) .
Age: Min of 24 years to max of 55 years.
Repayment: Monthly EMI to be paid till the loan closure.
Repayment mode: By way of PDC, ECS or Standing Instructions.
Pre-Closure Charges: Will be applicable as per bank norms.
|Kotak Mahindra Bank Business Loans||Working Capital Facilities|
|Generally Kotak Mahindra Bank Business Loan are small tenor unsecured loans offered by the bank based on the requirement, conduct and credit history of the entity.||Working Capital loans are related to business day to day operations, there is no limitation for the working capital facilities as per the entities financial performance and collateral capacity.|
|Kotak Mahindra Bank Business Loans are by nature it is a loan and need to repay the regular instalment till the loan will be cleared.||Working capital Facility is a facility you can avail the regular day to day transactions for your business purpose, generally WCF will be sanctioned for 12 months tenor.|
|Kotak Mahindra Bank Business Loans can be used for any related works, and there is no restriction for usage of funds.||WCF will be used only for business and business related purpose, there is a restriction on usage for facilities.|
|Kotak Mahindra Bank Business Loans will be only provide the fund based limits.||Working capital facilities can be sanctioned for fund based or non fund based requirement.|
|Only one type of facility can be availed from the Kotak Mahindra Bank Business Loans from the bank||Various types of facilities can be offered by the bank under WCF facilities.|
|Kotak Mahindra Bank Business Loans can be availed by small business owners.||WCF facilities can be availed by small business owner to big corporate.|
|Maximum tenor of loan is 48 months offered by the banks.||Maximum tenor will be 12 months based on the facility requirement.|
|Kotak Mahindra Bank Business Loans are costly than the WCF loans. Generally interest rates will be very from 18% to 21%.||WCF are relatively cheaper than the Kotak Mahindra Bank Business Loans. Generally interest rates will be vary 13% to 15% as per bank internal policy.|
|Minimum of 3 years vintage will be required for the business loans.||Min of 1 year vintage for calculation of eligibility will require for WCF.|
|Generally Kotak Mahindra Bank Business Loans will be used for unexpected requirement in business..||WCF will be used for regular activities of business.|
|Loan disbursement will be max 7-15 days from the date of application.||Min of 15 days to max of 90 days will require for process the WCF request from the date of application.|
|Banks/Financial Institutions will prefer to provide the business loans to WCF customers.||Banks will prefer to take more collateral to fund the WCF.|
|Interest will be on total loan outstanding and will be calculated on monthly basis.||Interest will be calculated on daily basis outstanding and will be debited in account on monthly basis.|
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