For immediate release

KotakMahindra Bank launches Mortgage finance in Kolkata

-Home Loans and Loan Against Property at attractive rates-

Kolkata, August 13, 2010: Kotak Mahindra Bank (KMB), one of India’s leading private banks, today launched its Mortgage Finance products – Home Loans and Loan Against Property (LAP) in Kolkata. The Bank is currently offering special and low interest rates for both these products. The growing Kolkata market is seen as anideal destination by the Bank to enhance its mortgage business.

Speaking on the occasion, Mr. Kamlesh Rao, Executive Vice President–Retail Assets, Kotak Mahindra Bank said, “We have introduced tailor-made products to suit different customer categories – salaried and self employed. The introductionof our product suite in Kolkata reflects the great potential and strong fundamentals of the Kolkata property market. The home loan products are ideal for customers looking at purchasing their dream homes and with LAP customers get adual advantage– greatvalue for the property and a loan at a very low interest rate.”

The Bank has introduced a special dual interest rate offer for salaried customers. Offering a rate of 8.25% p.a. till March 31, 2011 and floating rate thereafter. This is a limited period offer open till September 31, 2010. Home loan offers that specifically cater to the self employed community are also available.

LAP is an ideal financial tool for the business community of Kolkata, where customers can avail loans upto Rs. 10 crores. Kotak Mahindra Bank is offering rates as low as 11.50% p.a. currently.

With the launch of LAP, customers now avail higher quantum of a secured loan that is based on the property value.

About Kotak Mahindra Bank

Established in 1985, the Kotak Mahindra group has been one of India's leading financial services conglomerate. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). This approval creates banking history since Kotak Mahindra Finance Ltd. is the first non-banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank offers complete retail financial solutions for varied customer requirements. The Savings Account goes beyond the traditional role of savings and provides a range of services through a comprehensive suite of investment services and other transactional conveniences like Online Shopping, Bill Payments, ASBA, Netc@rd, ActivMoney (TD sweep). Investment Account, Payment Gateway services etc. All this can be availed through Internet or phone banking services. The Bank also offers loan products such as Personal Loans, Commercial Vehicle Loans, Credit Cards etc. Keeping in mind the diverse needs of the Business Community, Kotak Mahindra Bank offers comprehensive business solutions that include Current Account, Trade Services, Cash Management Services and Credit facilities. Kotak Mahindra Bank has over 260 branches and 540 ATMs spread across 150 locations in the country. The Bank has the products, the experience, the infrastructure and most importantly the commitment to deliver pragmatic, end-to-end solutions that really work.

For further information, please contact:

Pranav Raje
Kotak Mahindra Bank
Mobile: +91 9930888312
/ Sahana Prabhakar
Genesis Burson-Marsteller
Mobile: +91 9820880262