Presenting K-Value, a special overdraft service for business demands and emergencies. With this facility, you can avail of a completely unsecured overdraft of up to Rs. 50 lakhs! Based on your financials.
- Convenience of operating from one primary account
- Hassle-free documentation - no periodic submission of stock statement
- Pay interest only on amount utilised
- Easy fund access especially for business growth
- Exclusivity due to competitive features and benefits in the current market scenario
Available only in select locations.
Conditions apply: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
- A Current Account with Kotak Mahindra Bank Ltd. or with any other bank which is atleast 6 months old, and is the main operative account
- Your business must be running for at least the last 3 years
- Customers having a Kotak Mahindra Bank Ltd. Personal Loan are not eligible
- 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 needs to be added.
- Proof of Identity and Residence
- KYC documents to establish identity, DOB and address.
- Keep your OD interest due under control. Use your OD for short term requirements and replenish the account as soon as you can.
- Repay every month within the limit period to avoid penalties.
- Use it only for short term capital or working capital requirements or a scenario where you expect rotation of funds to happen. Since an OD can inflate your interest burden, it is essential to avoid investing your OD account funds in the market and even in long gestation projects. This is both financially prudent and meets regulatory requirements.
- Maintain a primary OD account. This is more efficient and reduces interest burden.
- Choose your primary account with care. It should be a balance between convenience, economical interest rate and benefits. For example, an unsecured OD account saves you the hassle of submitting stock statements regularly or collateralising your FD, and thus having a lien marked on it. A secured OD on the other hand, will reduce your interest burden, if it is an OD against property.
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