The Branch will accept deposits from High Net-worth Individuals and corporates [who do not reside in or operate out of UAE] who qualify as professional clients or Market Counterparties
Types of deposits:
- Current deposits:
- Withdrawable on demand
- Non-interest bearing
- Term deposits:
- Deposits for an agreed term Eg. 3 months, 1 year, etc.
- Fixed rate of interest [with or without premature withdrawal facility]
The Branch, in the course of accepting deposits will not:
- Accept Deposits from the State’s markets (UAE)
- Accept deposits in UAE Dirham
- Accept Deposits from Retail Clients
2) Loans & Advances
The Branch will offer loans to customer. These will include:
- Short & Medium term (Working capital facility) and Long Term loans (capital expenditure or other long term financial needs of Corporates) which are secured by acceptable collateral.
- Loans to Professional Clients
3) Wealth products
The Branch will offer, to Professional clients subject to a suitability assessment, financial products and services including:
- Products manufactured by third parties or Kotak Group including Mutual funds, Private Equity funds, structures, etc.
- Securities traded on a regulated stock exchange or over the counter
- Insurance Intermediation