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Kotak Mahindra Rolls Out A Lifestyle-Focused Payroll Account

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  • The account will be available to all businesses in India and will also come with a host of privileges and rewards.
  • Each account comes with preferential banking services, including a free Zen credit card.
  • It also offers preferential rates for a range of credit needs for personal, home and auto loans.

Kotak Mahindra Bank has launched a lifestyle-focused payroll account called Kotak Cream. The bank claims that this account will provide an enhanced experience to its clients working in multinational corporations, retail stores, law firms, unicorns, etc.

The account will be available to all businesses in India and will also come with a host of privileges and rewards for lifestyle, travel, healthcaredining, skills and learning experiences.

“For a long time, the benefits of the corporate payroll account include no minimum balance obligations, zero transaction fees, and any access to other banking products with a lasting relationship. We believe now is the time to disrupt this space — by offering rewards beyond banking and designing a truly premium value proposition,” said Puneet Kapoorpresident — products, alternative channels and customer experience delivery at Kotak Mahindra Bank.

Each account comes with preferential banking services, including a free Zen credit card. Account holders can enjoy many benefits, such as a subscription to the best lifestyle brands that offer health and wellness, lifestyle, entertainment and access to free airport lounges.

It also offers preferential rates for a range of credit needs for personal, home and auto loans. The account holders also get access to emergency funds through overdraft up to five times the salary cap and salary PayDay loan at good interest rates.

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