Ab Kona Kona Kotak

by Vinaya HS on August 31, 2015

in Finance

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On April 1st 2015, ING Vysya Bank merged with Kotak Mahindra Bank to be now known as Kotak Mahindra Bank. This merger will bring a lot of benefits to the customers of both the financial institutions by providing them with more options for convenience banking.

ING Vysya is a firmly established institution functioning in the Indian banking sector for over 80 years now. Kotak Mahindra Bank, on the other hand, has been offering financial services for over 3 decades serving all the needs of the customers under one umbrella. The merger of such two financial institutions is a remarkable moment in the history of the Indian financial sector. This merging of the complementary businesses will serve the customers in a better way by providing wider ATM network coverage.

Better ATM Networks

The merger will give Kotak Mahindra Bank a larger national footprint in the financial sector. The merger is aimed at providing seamless banking systems to its customers by providing them with better ATM networks and other facilities.

ING Vysya customers can now enjoy an interest of 6% per annum on a balance of over one lakh in savings accounts. Other than that, a wider ATM network lets the customers access their bank account funds conveniently. One can now perform the following activities at any Kotak Mahindra ATM:

  • Withdraw cash
  • Account balance enquiry and other account information
  • Initiate cheque book requests
  • Cheque status enquiry
  • Statements requests
  • 24-hour access to funds transfer between your own Kotak accounts
  • Facility to change ATM pin

Change in Management Does not Mean Change in ANY Existing Services

Customers can be rest assured that there will be no change in their account numbers or the services that they have opted for. The customers can still use their existing internet banking services and can continue with the same cheque books and passbooks. The same will be the case for any fee structure/charges and features of any service you may have opted for.

If the customers still have any queries regarding any services offered by the bank, they can visit www.kotak.com or nearest branch.

Kotak Mahindra Bank is constantly working hard to avoid or minimize any kind of glitches that can be caused in this transition period. As for customer satisfaction, the bank ensures that the merging of these two dynamic financial institutions puts up a new and better path to success and growth. Kotak Bank aims to attain new levels of excellence with this merger.

Author Bio:

Rachita Kotian is an independent blogger and writing has been her passion for a long time. A literature major, she loves exploring the world of health, lifestyle, travel and finance. When she’s not writing, she’s most likely listening to music, cooking, surfing the web, or catching up on the latest flick.

Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.

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