Money & Banking

Kotak Mahindra Bank launches emergency personal loans for Covid treatment

Our Bureau Mumbai | Updated on July 28, 2021

Borrowers can avail loans ranging from ₹1 lakh to ₹5 lakh, at an interest rate starting at 10% per annum

Kotak Mahindra Bank is offering emergency personal loans for treatment of Covid-19. “The loan covers expenses incurred for medical treatment of Covid-19 for self as well as for family members,” it said in a statement on Wednesday, adding that both existing and new customers of the bank are eligible to apply for a loan.

Under the offer, borrowers can avail loans ranging from ₹1 lakh to ₹5 lakh, at an interest rate starting at 10 per cent per annum. The loan tenure can be between one and four years and a processing fee of one per cent of the loan amount will be levied.

Also read: Kotak Mahindra Bank Q1 net profit up 32%

Ambuj Chandna, President – Consumer Assets, Kotak Mahindra Bank said the lender has a holistic healthcare package for its customers to help them meet the healthcare needs of their entire family.

The bank has also tied up healthcare brands such as Tata 1MG and MediBuddy to provide a range of healthcare offers for its debit and credit cardholders.

Published on July 28, 2021

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