Kotak Mahindra Bank



Media Release

Kotak Mahindra Bank to offer its Salary2Wealth account to Indian Army

New Delhi, March 12, 2012: Kotak Mahindra Bank (KMB), signed a Memorandum of Understanding (MoU) with the Indian Army for offering Salary2Wealth account to all its personnel today at New Delhi. The MoU was signed by Mr. KVS Manian, President - Consumer Banking, Kotak Mahindra Bank and Lt General A.K. Misra, AVSM, DG (Discipline), Indian Army in the presence of Lt. General J.P. Nehra, AVSM, Adjutant General, Indian Army and other senior Army and Kotak Mahindra Bank officials. On the occasion, KMB also announced the launch of a special Education Loan programme for children of the Indian Army personnel, and will offer its Personal Segment loan products – home loans, auto loans (offered by Kotak Mahindra Prime) and personal loans, at concessional rates to the Indian Army.

Through the Salary2Wealth account, all personnel of Indian Army will get access to KMB’s top-of-the line products and services including the bank’s network of 338 branches, 819 ATMs across 195 centres in India. Importantly, account holders will benefit from one of the highest savings bank interest rates in the country. Currently, KMB offers 5.5% p.a. on its savings bank account for balances up to Rs 1 lakh, and 6% p.a. on balances over Rs 1 lakh. Further, KMB will also conduct sessions on financial planning for senior Army officials across the country.

Mr. KVS Manian, President - Consumer Banking, Kotak Mahindra Bank on the occasion said, "It is indeed a privilege for us to be associated with an institution as respected as the Indian Army. We have designed our Salary2Wealth account keeping in mind the requirements of the Indian Army personnel. We are also delighted to extend our unique products and services to their families.”

Additionally, Salary2Wealth account holders get access to host of other benefits such as joint account facility, family account, dedicated relationship manager and an online trading account with Kotak Securities. The account also comes with Kotak ActivMoney – the 2-Way Sweep facility that sweeps out idle funds, above a threshold, from account into Term Deposits (TDs), and other convenient banking solutions – like Gold Debit Card, Net Banking, Phone Banking and SMS Banking.

About Kotak Mahindra Bank Ltd.



Established in 1985, the Kotak Mahindra group is one of India's leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the group's flagship company, received banking license from the Reserve Bank of India (RBI). With this, KMFL became the first non-banking finance company in India to become a bank - 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 (Automatic TD sweep-in and Sweep-out) etc. The Bank also offers an Investment Account where Mutual Fund investments are recorded and can be viewed in a consolidated fashion across fund houses & schemes. One can purchase, redeem, switch and even make systematic investments in Mutual Fund Schemes of over 20 Indian Mutual Fund houses. All this can be availed through Internet or phone banking services. The Bank also offers loan products such as Home Loans, Personal Loans, Commercial Vehicle Loans, 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 338 branches and over 819 ATMs spread across 195 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:

| | | |

|Rohit Rao |Jaydeep Raval |Twinkle Mayekar |

|Kotak Mahindra Bank |Kotak Mahindra Bank |Genesis Burson-Marsteller |

|Mobile: +91 9167930026 |Mobile: +91 9619866877 |Mobile: +91 9833684933 |

|rohit.rao@ |jaydeep.raval@ |twinkle.mayekar@ |

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Unique features of Salary2Wealth account designed exclusively for the Indian Army

• Special Education Loan programme for children of Indian Army personnel

• Concessional interest rates on all Personal Segment loan products – home loan, auto loan (offered by Kotak Mahindra Prime a Kotak group company), personal loan

• Financial planning sessions for senior officials across the country

• One of the highest savings bank interest rates in the country - 5.5% p.a. on savings bank account for balances up to Rs 1 lakh, and 6% p.a. on balances over Rs 1 lakh

• Host of other benefits - joint account facility, family account, dedicated relationship manager, Kotak ActivMoney, online Trading account offered by Kotak Securities (a Kotak group company), gold debit card, net banking, phone banking and SMS banking

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