Kotak Mahindra Bank Indore

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About Kotak Mahindra Bank

In matters related to money, it is difficult to trust anyone. This is the reason why people become selective while deciding a banking institution. People entrust only those banks that have established a great reputation in the financial industry and provide standard services. The Kotak Mahindra Bank is one such bank that has build its reputation in the Indian Banking and Financial industry. It is the first Indian Bank that converted from a Financial Company to a banking institution. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking licence from the Reserve Bank of India (RBI). It was established by Uday Kotak who was recognised as the Banker of the Year 2013-14 at FE Best Banks Awards. It is a private sector bank headquartered at Mumbai. The bank has a Pan India presence and has a considerable number of branches. At present, the bank has a total number of 1,336 branches. The bank has several ATMs around the corner. The ATM outlets of the counts up to 2,044. The bank rolls out it services through online portal as well. So, it becomes convenient for the customer to access banking facility anytime and from anywhere.

Address of Kotak Mahindra Bank Branches in Indore

The complete address, IFSC Code, MICR Code and customer care details of Kotak Mahindra Bank located in Indore are mentioned in the table below:

Branch NameComplete AddressIFSC CodeMICR CodeContact Number
Annapurna Road3-B, Bhawanipur Colony, Annapurna Road, Indore. Pin code - 452 009, Indore - 452009, Madhya PradeshKKBK0005941NON-MICR18602662666
Indore7/1, K.K. Bapna Arceda, Dr. Roshan Singh Bhandari Marg, Savrkar Circle, Narayan Kothi, Indore, Indore - 452001, Madhya PradeshKKBK0005933NON-MICR
18602662666
Indore - Cloth Market85 - Rang Mahal, Sir Seth Hukum Chand Marg, Cloth Market, Itwariya Bazar, Indore - Cloth Market, Indore - 452002, Madhya PradeshKKBK0005942NON-MICR
0731-2452492
Jawahar MargNo. 82, Jawahar Marg, Plot No.628, Scheme No.3, Traffic Route No.2, Indore-452007 (Madhya Pradesh), Jawahar Marg, Indore, Indore - 452007, Madhya PradeshKKBK0005937NON-MICR
18602662666
M.G. Road580, M.G.Road, Indore, Indore - 452001, Madhya PradeshKKBK0000751452485002(0731) 4297500, (0731) 4297504
PaldaThe Finance Hub, Mundla Nayata, Nemwar Road, Palda, Indore - 452020, Madhya PradeshKKBK0005932NON-MICR
8818888502
Sapna Sangeeta914/Scheme No.44, Khatiwala Tank, Sapna Sangeeta, Indore, Madhya Pradesh - 452001, Indore - 452001, Madhya Pradesh ---NON-MICR
18602662666
Vijay NagarMetro Tower, Near Vijay Nagar Square, A B Road, Indore - 452010, Madhya PradeshKKBK0005915NON-MICR
0731-4704001

Products Offered by Kotak Mahindra Bank in Indore

In Indore, Kotak Mahindra bank provides a wide range of products and services. The details of each product along with the eligibility criteria and documents required is mentioned below.

Kotak Mahindra Bank Products Details

Product NameEligibility CriteriaAmount Interest RateProcessing FeeTenure
Home Loan Individuals, either solely or jointly can apply for the home loan if they fall in the age bracket and earn a considerable income as per bank norm Up to 90% of the property8.35%
Nil Up to 20 years
Car LoanEligible Segments- Partnership Firms and LLPs, Public & Private Ltd. companies, HUFs and Trusts

Criteria for Salaried:
Minimum age of the applicant should be 21 years
Maximum age of the applicant at loan maturity should be 58 years
The applicant must earn minimum income of ₹ 15,000 per month
Must have minimum employment of 12 months

Criteria for Self- Employed;
Minimum age of the applicant should be 21 years
Maximum age of the applicant at loan maturity should be 65 years
Minimum employment in the current line of business should be at least 1 year
Minimum - ₹ 75,000
Maximum - Up to 90% of the car value
As per company’s normsAs per company’s norms
Maximum - 7 years
Loan Against Property- All individuals either solely or jointly can apply for loan against property
- Minimum annual income should be Rs. 1.44 lakh as per the P&L.
- Minimum 21 years of age.
- Maximum 65 years of age at the time of loan maturity.
- Firm/company should have been in operation for the last 3 years.
- Firm/company should be making cash profits for the last two years.
₹ 10 lakhs to ₹ 3 crores10% p.a. up to 1% of the loan amountMaximum Up to 12 years
Business LoanThe borrower should be in the line of business for 3 years and the business should be profitable for last 2 years.

The eligible segments are:
- Self employed businessmen with an annual turnover of ₹ 2 crores
- Manufacturers with an annual turnover of ₹ 1 crore
- Service Providers with an annual turnover of ₹ 50 lacs
₹ 3 lacs to ₹ 75 lacs16% p.a. - 19.99% p.a.Up to 2% of the loan amount15 years
Gold Loan- The applicant should be a resident Individual or Proprietor
-The age of the applicant should be 18 years and above
Minimum - ₹ 25,000
Maximum - ₹ 25 lacs
10.5% p.a. to 17% p.a.2% of the loan amountUp to 3 years
Education Loan- The student should be an Indian National
- The student shall have secured the admission in India or abroad through an entrance test or through merit based selection process
- The minimum age of the joint applicant should be 21 years but not more than 70 years
For studies in India - maximum ₹ 10 lacs

Studies abroad - maximum ₹ 20 lacs
11.5% p.a. - 24% p.a.Up to 2% of the loan amount + service tax
Fixed DepositAn individual either solely or jointly
A minor jointly with a major
HUF
Private Traders
Professionals
Partnerships Firms
Companies
Clubs
Societies & Corporates
-3.50% - 7.40%
-7 days to 10 year

Documents Required

The list of documents required to avail the benefit of the financial products are given below:

Product NameDocuments
Home Loan Proof of identity (photocopies of Voters ID card/ Passport/ Driving
licence/ IT PAN card)
Proof of residence (photocopies of recent Telephone Bills/ Electricity Bill/
Property tax receipt/ Passport/ Voters ID card)
Proof of Income - Original Salary Certificate from employer, TDS certificate on Form 16 or copy of IT Returns for last two financial years, duly acknowledged by IT Deptt., Acknowledged copies of three years I.T. returns/ Assessment Orders, Photocopies of challans evidencing payment of Advance Income Tax
Proof of business address for non-salaried individuals
Statement of Bank Account/ Pass Book for last six months
Signature identification from present bankers
Personal Assets and Liabilities statement
Car LoanDuly filled Application form
Photograph
Proof of Identity:- Passport copy, PAN Card, Voters Id car, driving licence( Laminated, Recent, Legible)
Income Proof: Latest salary slip with Form 16./ Income Tax Returns of 2 previous financial years
Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
Signature Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License / Passport
Salary Bank Statement/ Business Bank Statement
P&L A / C and B / S for the last 2 years certified by CA by Non-Salaried
Loan Against PropertyApplication form
Financial Statements/ Bank Statement
Address Proof: Ration card/Driving licence/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy PAN Card
Age Proof - Passport, PAN Card or Any Other Certificate from Statutory Authority
Business LoanProof of Identity: Voter’s ID Card/ Passport/ Driving License/ PAN Card/ Signature identification from present bankers of proprietor, partner of director (if a company)

Proof of residence: Recent telephone bills, electricity bill, property tax receipt /Passport/ Voter’s ID Card of Proprietor, partner of Director
(if a company)

I.T.R., 2 Years, Balance Sheet and Profit & Loss Account
Proof of ownership of Residential or Commercial Property (including Parental Property) in select locations
Latest 6 months Bank statement of Business
Gold LoanFor Kotak customers: Latest address proof (only if the address of the customer has changed)
For non-Kotak customers: Identity Proof, Address Proof, Signature Proof (KYC Documents) and 3 passport size photographs
Education Loan Application Form
2 photographs
Proof of Identity - Passport/ PAN Card/ Voters ID card/ Driving License etc.
Residence Proof - Passport/ Driving License/ Voter ID/ Ration Card/ Telephone Bill
Signature verification from bank
Income Details of Co- Applicant and Guarantor - Latest payslip or Form 16 or 2 years ITR
Proof of Ownership
Proof of Relationship
Confirmed admission letter
Letter from college
Academic Pass out Mark sheet/Certificate
Fixed DepositProof of Identity - Passport, Voter ID card, Driving license, PAN card, Government department ID card
Proof of Residence - Bank account statement, Latest electricity bill, Latest mobile/telephone bill, Latest credit card statement, Existing house lease agreement

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