Kotak Mahindra Bank Savings Account – Check Kotak Bank Savings Account Types, Features, Benefits, Kotak 811, Interest Rate, Documents Required.
Kotak Mahindra Bank Savings account offers the best & enhanced financial experience to its customers. It gives the account holder exposure to many financial growth possibilities. It is one of the largest bank offering high rate of interest and competitive facilities. Many types of savings account are offered for every section of the society. Be it women, children or the economically weak section, Kotak bank offers benefits to everyone.
Below are the types of savings account with other important details, Documents required & Rate of Interest :-
Edge Savings Account
- If you are a resident indian (Sole or Joint Account), HUF or Foreign National residing in India then you are eligible to open the edge savings account by maintaining an Average Monthly Balance of ₹ 10,000/-. Mobile Banking & Net Banking facility is offered to the account holder and the account can be easily accessed through the phone app. Free access to all domestic VISA ATMs & Up to five transactions per month is allowed. NEFT is free of cost if done by this particular account.
Ace Savings Account
- This account offers Free Platinum International Chip debit card with enhanced daily purchase limit of Rs. 2 Lakhs and daily ATM cash withdrawal limit of Rs. 2 Lakhs.
- Extended Debit Card withdrawal limit of Rs. 2 Lakh per day through ATM/POS with free add-on Platinum International Debit Card is offered.
- Discounts on issuance of Best Compliments Card (Gift cards) & locker rents can be availed. No annual maintenance charges on the Demat Account for the first year is charged.
811 Savings Account
- This account can be opened on your mobile phone. To open Kotak 811 Savings Account, You just need to download the kotak bank app and fill in your aadhaar card & PAN card number. Free IMPS/NEFT can be done using Net banking and Mobile banking. No average monthly balance is required to maintain.
811 Edge Savings Account
- Any individual of 18 years and above can apply for this account opening. 811 Edge offers a completely digital and paperless account opening experience by maintaining an average monthly balance of Rs. 10,000. Get Platinum Chip Debit Card for only ₹ 150/- Per annum.
Platina Savings Account
- Platina savings account is especially designed to enhance your banking experience. It comes with several benefits including free platinum international chip debit card and free add-on card. To have this account, you need to maintain an average monthly balance of ₹ 10,000/-.
Bank offers free multi-city cheque books with free fund transfer facilities.
Sanman Savings Account
- Kotak Bank considers every section of the society and in order to help in the development of rural India, it offers sanman account. With a minimum monthly balance requirement of ₹ 2000/- you can become the sanman savings account holder. It comes with daily cash withdrawal limit of ₹ 50,000/- and enhanced daily purchase limit of ₹ 1 Lakh.
Junior – The Savings Account for Kids
- To promote the habit of savings amongst children, Kotak bank offer junior account which is a tailor made account for kids that requires to maintain monthly balance. Personalized junior debit card is offered. It also offers rewards on regular savings and other introductory offers.
Grand Savings Account
- To help the senior citizens financially, Kotak Bank offers this account with cashback upto ₹ 4500/- up to 6% interest rate is offered to the account holders with several other benefits. Priority service & first aid card is provided by the bank. The account debit card offers you Purchase Protection up to ₹ 1 Lakh for all consumer durable goods purchased.
Classic Savings Account
- Classic savings account requires to maintain minimum monthly balance in the account. One NMC waived Nova Savings Account for your family members. Free NEFT can be done via Net banking. 50% discount on first year Demat AMC & free demand drafts are offered.
Silk Women’s Savings Account
- On one side where kotak bank offers separate accounts for children & senior citizens, it also offers account especially for women. As an account holder one can get cash back on debit cards spends. Enjoy services like cash pick-up, cash delivery, cheque/draft delivery etc at your home.
- Average monthly balance is required to maintain depending upon the type of account.
My Family Savings Account
- My Family savings accounts aim to give a consolidated financial experience. Free ATM usage is offered for Pro & Ace savings account holder. With ActivMoney one can easily convert a certain amount into a term deposit.
- A separate relationship manager is appointed in order to provide assistance.
- You can maintain balance in one account or spread across accounts.
Pro Savings Account
- Average monthly balance of ₹ 20,000 is required to maintain in the account. One NMC waived account for your family member is offered under the Pro Savings Account. Free cash pick up & delivery is provided with free NEFT through Netbanking. With platinum international chip card you can make a daily purchase of ₹ 200000 and daily ATM withdrawal limit of ₹ 50,000/-.
Nova Savings Account
- With the average monthly balance of ₹ 5000/- you can maintain the Nova savings account. You get classic debit card with high purchase / withdrawal limits. Free at-par cheques are offered with up to 25 leaves per quarter.
Documents Required for Savings Account Opening
|IDENTITY PROOF||PAN Card, Driving License, Passport, Voter’s ID, Aadhaar Card|
|ADDRESS PROOF||Passport, Driving License, Voter’s ID, Aadhaar Card, Utility Bill, Bank Statement, Bank Account Passbook (Updated and no more than 3 months old)|
|SIGNATURE PROOF||PAN Card, Driving License, Passport|
|Latest Passport Size Photographs (4 copies)|
Up to 6% p.a. interest on balance over ₹ 1 lakh and up to ₹ 5 Crores.
5% p.a. interest on balance up to Rs. 1 lakh and;
5.5% p.a. interest on savings account balance above Rs. 5 Crores. Applicable for Resident Accounts only.