Kotak Mahindra Bank Launches Emergency Loans to Individuals for Covid Treatment

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Kotak Mahindra Bank offers emergency loans for individuals for Covid-19 treatment. “The loan covers the costs incurred in treating Covid-19 for themselves as well as for family members,” it said in a statement Wednesday, adding that both existing and new customers of the bank are eligible to apply for the loan.

According to the proposal, borrowers can take advantage of loans ranging from 1 lakh to 5 lakhs at an interest rate starting from 10 percent per annum. The loan can be valid for one to four years and will incur a processing fee of one percent of the loan amount.

Read also: Net profit of Kotak Mahindra Bank for the first quarter increased by 32%

Ambuj Chandna, President of Consumer Assets, Kotak Mahindra Bank, said the lender has a comprehensive health care package for its clients to help them meet the health care needs of their entire family.

The bank has also linked healthcare brands such as Tata 1MG and MediBuddy to provide a range of healthcare offerings to debit and credit card holders.

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