Kotak Mahindra launches new saving and investment scheme

Mumbai, Oct 22 (UNI) Kotak Mahindra Bank today launched its saving and investment scheme, 'Salary 2 Wealth for the Indian professional' here today.

''India is progressing from a nation of savers to investors, and that's where we want to play a big role. Our new scheme has almost no fee. Any charges, if any, are minuscule,'' Retail Liabilities and Branch Banking Group Head KVS Manian said at the launch.

Focusing on salaried professionals, the scheme has portfolios designed specifically for the entry level, mid-level and top level executives that include end-to-end saving and investment schemes, single-window account, net transaction facilities, research and Mutual Fund status reports.

''Salary 2 Wealth'' will also provide global debit cards, net cards, at-par cheque books and 24x7 transaction facilities for its customers.

Established in 1985, Kotak Mahindra became the first non-banking finance company to convert itself into a bank in 2003. It has 134 branches in 92 locations in the country and almost 20 per cent or 4,50,000 of its account holders are salaried professionals.

UNI