Kotak Mahindra Bank PO Recruitment, 2012

Kotak Mahindra Bank is one of the fastest growing banks of India. In a very short span of time, it has shown staggering growth and prospects.

Unlike other private banks, working in Kotak Mahindra is a dream. The bank has won many accolades for giving impeccable job satisfaction to its employees. In the arena of banking and financial services, it has got the Best Employer Award in 2011 by AON Hewitt.

Kotak Mahindra offers Probationary Officers (PO) program in association with Manipal University. ICICI and Axis Bank also offer this program with the same university in the same campus. Bank of Baroda also did the same once, but even before their first batch was out, the Common Written Exam by IBPS was introduced for all nationalized banks.

The PO program of Kotak Mahindra bank is a residential program where selected candidates get 9 months residential training in Bangalore and three months internship in any branch of Kotak Mahindra. After the completion of this 12 months program, they will be awarded with a degree named Post Graduate Diploma in Banking and Relationship Management and then candidates are absorbed in Kotak Mahindra Bank on a relationship role (Relationship Manager). The relationship roles in the bank will entail to sales and service deliveries. The salary will be Rs. 3.5 lacs per annum. Additionally, after the completion of one year at the bank, employees will be entitled to get guaranteed Rs. 50,000 as bonus.

Stipend: Selected candidates will get Rs. 2500 per month as stipend for their out-of-packet expense. During the internship of 3 months they will get Rs. 20,000 per month.

The bank didn’t advertise its application for PO for whatever reasons. You have to keep checking the career section of their website for the start of application. You can also send a mail at kotakpo@kotak.com. As for application, you need to fill an excel sheet, available on their website, and send it with your updated resume to the above mentioned mail ID. Write “Application for Kotak PO” in the subject line.

NOTE: The first two batches for Kotak Mahindra PO has already been selected and the training has been started in the Manipal Campus, Bangalore. The career section of the website didn't mention anything and it seems lots of students are still filling up the form since that is live there. What an irresponsible HR!

Next batch is expected to take off in June, 2012.

Eligibility Criteria:

You must be a graduate with at least 60% marks to be eligible to apply for this course. The age limit is 21 to 25.

Selection Procedure:

The selection process comprises of written test and Personal Interview + Psychometric Test. Written test will be conducted in 20 centers across India.

Course Fee:

The course fee for PO at Kotak Mahindra bank is Rs. 3 lacs. However, aspirants can avail a special loan from the bank designed for this course. The interest on this loan will be 7% per annum which will be deducted from their salary after joining the bank. It means to say, like ICICI PO program this one is also a sort of cashless one. However, remember that this loan works as a bond. If you leave the bank after joining then you will have to shell out this amount.

Then, at the time of joining the campus, as seen in this phase, the bank will ask you to deposit Rs. 5,000. In addition to that, the bank is also asking for Rs. 30,000 as Margin Money to process the loan.