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Kotak Launches Emergency COVID-19 Personal Loans

Posted On: 2021-07-28 17:21:15 (Time Zone: UTC)

Kotak Mahindra Bank Limited (KMBL) today announced that it is offering emergency personal loans exclusively for the treatment of COVID-19. The loan covers expenses incurred for medical treatment of COVID-19 for self as well as for family members. Both existing and new customers of KMBL are eligible to apply for a loan.

Under the offer, borrowers can avail loans ranging from Rs 1 lakh to Rs 5 lakh, at a competitive interest rate starting at 10% per annum.

Key Features of Kotak Emergency COVID-19 Personal Loans*:

- Loan Amount: From Rs 1 lakh to Rs 5 lakh
- Loan Tenure: From 1 year to 4 years
- Interest Rate: Beginning at 10% per annum
- Processing Fee: Flat 1% of the loan amount

Further, KMBL has tied up with leading healthcare brands such as Tata 1mg and MediBuddy to provide a range of attractive healthcare offers for KMBL debit and credit cardholders.

Ambuj Chandna, President - Consumer Assets, Kotak Mahindra Bank said, "The Kotak emergency personal loans for COVID-19 treatment give people easy access to funds when they most urgently require it and in as hassle-free a manner as possible, giving them the security and freedom to concentrate on what matters the most - recovering fully from the virus. Further, we have also put together a holistic healthcare package for our customers, which will help them meet the healthcare needs of their entire family."

Healthcare Offers for KMBL Debit and Credit cardholders*

- Tata 1mg: KMBL customers get a special 17% discount + 5% cashback (up to Rs 100) on prescribed medicines on the Tata 1mg app or website by using coupon code 'KOTAK1MG'.

- MediBuddy: For just Rs 49, KMBL customers get a doctor consultation, up to 15% discount and cashback on medicines, flat 15% off on lab tests and health check-ups, flat 10% off on OPD consultation, and much more.

- Kotak General Insurance: A special benefit for Kotak customers in the form of 'Kotak Group Smart Cash' health policy at an annual premium of just Rs 2,999/-. Under the policy, policyholders will get the benefit of expense reimbursement of Rs 5,000 per day, for every 24 hours of hospitalisation completed, for a maximum period of 30 days in a year, in addition to other benefits.

- Metropolis Healthcare: Kotak customers can avail the COVIPROTECT Spike antibody blood test at a 30% discount at all Metropolis diagnostics centres in over 90 cities across India.

Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs. 1653.2 as compared to the previous close of Rs. 1697.95. The total number of shares traded during the day was 136055 in over 9349 trades.

The stock hit an intraday high of Rs. 1706 and intraday low of 1646.05. The net turnover during the day was Rs. 227478612.

*Terms & Conditions apply

Source: Equity Bulls

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