Kotak Mahindra Bank has decreased its loan against securities interest rates by 0.05%, or 05 basis points with effect from Monday, October 16, 2017. This interest rate cut will reduce the cost for those people who want to avail loan against mortgage of their securities.
Kotak Mahindra Bank Limited – Current Interest Rates for Loan Against Mortgage of Securities
New Delhi (Delhi, India), February 26, 2018
Kotak Mahindra Bank Cuts Loan Against Securities Interest Rate to 11.50% Per Annum
The Kotak Mahindra Bank Limited has decreased its loan against securities interest rates by 0.05 percent, or 05 basis points with effect from Monday, October 16, 2017.
Kotak Mahindra Bank has revised its minimum interest rate for loan against securities (Kotak Stock Ace) from 11.55 percent to 11.50 percent per annum for the loan against mortgage of securities.
Kotak Mahindra Bank’s current interest rate cut will reduce the cost of funds for those people who want to avail loan against mortgage of their securities.
Securities Eligible for Kotak Mahindra Bank Loan Against Securities
– Approved List of Demat Shares
– Approved List of Mutual Fund Units
– Approved List of Non Convertible Debentures
– Fixed Maturity Plans (FMP)
– Exchange Traded Funds (ETF)
– Life Insurance Policies
– Savings Bonds
– Kisan Vikas Patra (KVP)
– National Savings Certificate (NSC)
– Gold Deposit Certificates (GDC)
– NABARD’s Bhavishya Nirman Bonds
Kotak Mahindra Bank Limited – Current Loan Against Mortgage of Securities Interest Rates
Kotak Mahindra Bank Loan Against Mortgage of Securities Interest Rate: 11.50% to 14.50% Per Annum (Reviewed and renewed annually)
Kotak Mahindra Bank Loan Against Mortgage of Equity Shares Interest Rate: 11.50% to 14.50% Per Annum (Reviewed and renewed annually)
Kotak Mahindra Bank Loan Against Mortgage of Securities Rate of Interest is Floating or Fixed: Fixed Rate of Interest (Interest levied on a daily reducing balance)
Quantum of Kotak Mahindra Bank Loan Against Mortgage of Securities: Up to 50% of the Market Value of the Securities
Kotak Mahindra Bank Loan Against Mortgage of Securities Minimum Borrowing Limit: Minimum Loan Amount is Rs. 5,00,000
Kotak Mahindra Bank Loan Against Mortgage of Securities Maximum Borrowing Limit: Maximum Loan Amount is Rs. 20,00,000
Kotak Mahindra Bank Loan Against Mortgage of Securities Processing Fee and Documentation Charges: 0.50% of the Loan Amount (Minimum Rs. 2,500 plus GST)
Maximum Tenure for the Kotak Mahindra Bank Loan Against Mortgage of Securities: Maximum Loan Tenure is 36 Months (This is reviewed and renewed annually)
Renewal Charge for the Kotak Mahindra Bank Loan Against Mortgage of Securities: Rs. 2,500 plus GST on renewal of loan at the end of each year
Kotak Mahindra Bank Loan Against Mortgage of Securities Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty
Minimum Age Limit for Getting the Kotak Mahindra Bank Loan Against Mortgage of Securities Sanctioned: Minimum Age 18 Years at the Time of Loan Commencement
Maximum Age Limit for Getting the Kotak Mahindra Bank Loan Against Mortgage of Securities Sanctioned: Maximum Age 65 Years at the Time of Loan Commencement
Charges for Kotak Mahindra Bank Loan Against Mortgage of Securities Ovedue: Minimum 2% Per Month of the Kotak Mahindra Bank Loan Against Mortgage of Securities Outstanding Amount
Security Requirement for the Kotak Mahindra Bank Loan Against Mortgage of Securities: Pledge of Adequate Value of Securities and Equity Shares in Dematerialised Form from the Approved Scrips List
Guarantor Requirement for the Kotak Mahindra Bank Loan Against Mortgage of Securities: No Guarantor is Required
Kotak Mahindra Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Kotak Mahindra Bank Limited