Kotak Mahindra launches new saving, investment scheme

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

''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 K V S Manian said at the launch.

Focussing 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