Kotak Mahindra Bank is one of India's leading banking and financial services group that offer a wide Range of financial products and services that helps us create a strong financial backbone. In 2003, Kotak became the first non-banking finance company to convert into a bank.
Kotak Bank Savings Account is one of the most famous services offered by the bank. It helps you realise your Financial goals, and therefore makes an easy savings plan. If you are planning to open one, then there is an array of savings account to choose from. Let's take a look!
The main idea behind the Sanman Savings Account is to give faster and secure access to all your banking needs. The account comes with low maintenance fees, and you are also eligible to access all domestic Visa ATMs, transfer funds, etc. You can easily maintain an average quarterly balance of Rs 2,000.
The daily cash withdrawal limit is about Rs. 50,000, while the daily purchase limit is Rs. 1.5 lakh.
Kotak offers a plethora of benefits to make lives of senior citizen comfortable. You can avail these benefits right when you turn 55. In this account, you get a customised cash delivery. The bank branches provide priority service and first aid card on preference. The Debit Card offered with this account gives you purchase protection up to Rs. 1 Lakh on all consumer durable goods purchased.
This Kotak Bank savings account is designed to give you additional banking benefits, all without any extra premium. You can avail a discount of 25% on the issuance of the Best Compliments Card (Gift cards). Some of the other benefits are - no annual maintenance charges on your Demat account for the first year, free multi-city cheque books (at par cheque books), 15% discount on locker rent, etc.
While operating the account, you need to maintain an average monthly balance (AMB) of Rs. 50,000.
This account converts savings account balance into term deposits above a certain amount. Edge savings account gives you a free classic debit card free of cost with a daily purchase limit of Rs. 1.5 lakh and withdrawal limit of Rs. 50,000.
The account offers free phone banking, net banking (including NEFT) and mobile banking. An maintenance of an average monthly balance of Rs.10, 000 is a must.
This account offers premium banking services along with multiple benefits, such as free home banking facilities & digital banking service, higher withdrawals, etc. You will also get a platinum chip card with a daily withdrawal limit of Rs. 50,000 and daily purchase limit of Rs. 2 lakh.
The Classic Savings Account is dedicated for semi urban and rural locations. It offers you to earn interest on your savings account balance. The account allows free cash withdrawals from any Kotak Bank branch and other domestic ATMs across India. With the classic debit card, you can make daily purchases of up to Rs.1.5 lakh and withdraw up to Rs. 50,000.
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This savings account is a unique account that lets you manage all your financial needs anytime. You can get a free classic debit card with a daily purchase limit of Rs. 1.5 lakh and withdrawal limit of Rs.50,000. The withdrawal is free at all Kotak Mahindra Bank ATMs in India. While operating the account, you must maintain an average monthly balance of Rs.5,000.
To apply for this account, you should belong to any one of the below mentioned categories:
Silk Woman Saving Account helps you to enjoy simple, fast and hassle-free online bill payments. You can experience lifestyle benefits, privileges, special offers and cashback on the Silk debit card. Above all advantages, get a discount of 35% for the first year on locker rent.
This savings account is specifically designed to guide your children towards the importance of saving, while providing a host of privileges across edutainment, dining and shopping on kids’ brands..
The account offers a personalised junior debit card along with zero balance benefit.
Kotak 811 is a Zero Balance Savings Account. You can instantly open this account with aadhaar card. Also, the debit card is a virtual card. You can check the card details within the safety of your APP and use it to make online payments, etc.
This account is a full service digital banking ecosystem on mobile designed for ease of use. 811 Edge offers a complete digital and paperless account opening experience. While paying for in store purchases, you can use the Scan & Pay method.
Alpha is a savings cum investment programme designed to make regular savings easy. Through this account, you can invest in NPS, RD, FD, Mutual Funds, etc., all in one place. This Kotak Savings account also offers 25% discount on locker rent.
This account brings the entire family’s banking needs under one account. It allows every family member to avail exclusive family-centric benefits. You can enjoy services like - cash pick-up and delivery, cheque delivery, etc. from home, free ATM usage for Pro and Ace savings account holders, Classic or Platinum Debit Card^3 with higher withdrawal limits and attractive offers, etc.
The applicant should submit a duly filled form of account opening. While submitting the form, you need to provide documents as an act of proof, such as passport, driving licence, Voter ID, PAN Card, Form 16 along with two latest passport size photographs.
Upon submission, the bank executive will verify your details. After this step, the applicant needs to make an initial deposit depending on the type of savings account.
Once the deposit is made, the bank executive will hand over the debit card and other relevant documents with regards to the savings account.
Customers should meet the following criteria to open a savings account with the Kotak bank-
For any query or doubt related to any type of savings bank account, you can Call on the toll free number-
1860 266 2666
Kotak Mahindra Bank caters to all the age groups thereby a child, a teenager and young adult all can have a savings bank account. So, what are you waiting for? Just choose an account that suits the best and become the account holder with Kotak.