GSL / Offshore and International Law. Offshore companies registration. / Offshore Banking / Kotak Mahindra Bank Ltd

How to open a bank account in Kotak Mahindra Bank Ltd

GSL reference about the bank What is it?

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GSL rating

rating

Beginning of cooperation

July, 2023

Last contact

December, 2024

Last update

October, 2023
  • Kotak Mahindra Bank Ltd. – India’s fourth largest bank by market capitalization, incorporated in February 2003;
  • opens accounts only for local companies; it does not work with non-residents;
  • opening an account requires a visit to the bank by the director of the company;
  • cards can be issued;
  • Internet bank in English;
  • account opening period, please check with a consultant
GSL rating
rating
Beginning of cooperation
July, 2023
Last contact
December, 2024
Last update
October, 2023
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+44 0 207 822 85 93

General information and rating
General information and rating

Not rated
Global rating
4
Countrywide rating
—
Countrywide rating of the head bank
—
Global rating of the head bank
Year of foundation
2003
History
In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group's flagship company, obtained a banking license from Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into Kotak Mahindra Bank Ltd. Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd.
Personnel
Staff speaks English
Bank’s shareholders
Uday Suresh Kotak – 25,71%;

Life Insurance Corporation of India (Investment Portfolio) – 6,201%;

Capital Research & Management Co. (World Investors) – 5,653%;

Canada Pension Plan Investment Board – 4,343%;

SBI Funds Management Ltd. – 3,487%;

Invesco Advisers, Inc. – 3,103% etc.
Confidentiality
Judicial Cooperation Agreement with Russia is signed; Double Taxation Agreement with Russia is signed; AML legislation is strictly observed
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    Minimum requirements
    Minimum requirements

    0
    Minimum balance, €
    No restrictions
    Transactions permitted per month
    0
    Initial deposit of funds, €
    0
    Deadline for the initial deposit, month
    Transactions permitted per month
    No restrictions on the number of transfers
    Minimum turnover, €/year
    No turnover restrictions
    How fast payments are executed
    Same day or next day

    Tariffs and services
    Tariffs and services

    75
    Outcoming transfer, €
    0
    Incoming transfer, €
    N/A
    Account maintenance, €/year
    N/A
    Payment limit for credit cards, €/day
    Outcoming transfer, €
    Transfer fee is ~ 0,10% - 0,15%
    Incoming transfer, €
    No commission for enrollment incoming transfer
    Distant access to the account
    Internet banking in English
    Financial products
    The Bank provides services to corporate and retail customers, including personal finance, investment banking, life insurance and asset management services
    Credit/debit cards
    Yes

    Account opening procedure
    Account opening procedure

    Days to open for incoming transfers
    Case by case
    Days to open for outcoming transfers
    Case by case
    References
    Not necessary
    Purpose of the account
    Savings & current
    Visit to the bank
    Opening an account requires a personal visit of the director of the company to the bank
    Required
    Completed bank forms, client passport / ID, standard set of corporate documents, etc.
    Types of accounts
    Savings; Current
    Chances to open an account
    Predictable
    Business description
    Requirements to the description of the activity are standard: a story about the current state of the business and its formation, disclosure of the source of origin of funds, biography of the account beneficiary and contact information
    Offers
    Registration of a Private Limited Company in India. Service offer

    India is gradually becoming a fully-fledged player on the international market. It is no secret that the country attracts a growing number of foreign investors an...

    7600 USD

    Buy

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    Kotak Mahindra Bank Ltd
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    48
    2
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