Kotak Mahindra Bank Savings Account

1. There are savings accounts for children as well as for senior citizens

Benefits and Features of Kotak Mahindra Bank Savings Account:

The main benefits and features of Kotak Mahindra Bank Savings Account are mentioned below:

1. You will earn a high interest rate of up to 3.50% p.a.on the money that is present in the account.
2. Net banking and mobile banking facilities are provided to access various banking facilities.
3. Utility bill payments can be set and paid automatically.
4. It is a safe form of investment as volatility is not involved.
5. The presence of many Kotak Bank ATMs all over the country allows easy access to your money.
6. Debit Cards and Credit Cards are provided free of cost.

Types of Savings Accounts with Kotak Mahindra Bank:

1. Sanman Savings Account

1. The Average Quarterly Balance that must be maintained is Rs.2,000.
2. Cash withdrawals are free at Kotak Bank ATMs. The daily cash withdrawal limit is Rs.50,000.
3. The daily purchase limit is Rs.1.5 lakh.

2. Grand - Savings Programme for the 55+: 

1. In case senior citizens hold an account, they can get a cashback of Rs.4,500. 

1. Branches provide Priority Service & First Aid Card at a preference. 

1. Customised cash delivery. 

3. Ace Savings Account 

1. A Best Compliments Card is issued where a discount of 25% can be availed. 

1. A Platinum international chip card is issued free of charge. The card has a daily withdrawal limit of Rs.2 lakh and a purchasing limit of Rs.2 lakh. 

1. The Demant Account does not have any annual maintenance fees for the first year. 

1. The AMB that must be maintained is Rs.50,000. 

4. Edge Savings Account

1. With the help of Kotak ActivMoney, the balance that is available above a certain amount can be converted into term deposits.
2. Mobile banking, net banking (including NEFT), and phone banking is free.
3. A Classic Debit Card is offered free of charge. The card has daily purchase and withdrawal limits of Rs.1.5 lakh and Rs.50,000, respectively. 
4. You can earn up to 4% on the balance that is available in the account.
5. The AMB that must be maintained is Rs.10,000

5. Pro Savings Account

1. Premium banking services are free, and many of the features associated with a high-end savings account are available. 
2. Free home banking facilities and digital banking service.
3. A Platinum international chip card is issued free of charge. The card has a daily withdrawal limit of Rs.50,000 and a daily purchasing limit of Rs. 2 lakh. 
4. The Average Monthly Balance (AMB) that must be maintained is Rs.20,000.

6. Classic Savings Account

1. The account is available in rural and semi-urban locations.
2. You can earn an interest of up to 4% on the balance that is available.
3. A Classic Debit Card is provided free of cost. The card comes with a daily purchase limit and withdrawal limit of Rs.1.5 lakh and Rs.50,000, respectively.
4. The AMB that must be maintained is Rs.10,000.

7. Nova Savings Account

1. The account is available in rural and semi-urban locations.
2. Every account holder will receive a Classic Debit Card. The card comes with a daily purchase limit and withdrawal limit of Rs.1.5 lakh and Rs.50,000, respectively.
3. Access is free at any domestic Visa ATM and cash withdrawal is free at Kotak Mahindra ATMs all over India.
4. The AMB that must be maintained is Rs.5,000.

8. Silk - The Savings Programme for Women

1. A discount of 35% is provided for the first year in case a locker is rented.
2. Hassle free, fast, and simple bill payments can be done online.
3. Lifestyle benefits, privileges, special offers, and cashbacks are provided.

9. Junior - The Savings Account for Kids

1. It's a Non-Maintenance Charge (NMC) waived savings account.
2. Exclusive discounts and privileges are provided at kids' brands.
3. Every Junior Savings Account will get a Personalised Junior Debit Card.

10. My Family Savings Account

1. Balance above a certain amount can be converted to a Term Deposit by using ActivMoney.
2. The entire family will get a dedicated relationship manager.
3. The balance can be maintained in one account or can be spread across multiple accounts.

11. Alpha Savings Account

1. A discount of 25% if a locker is rented.
2. If the Systematic Investment Plan (SIP) is running, the Investment Account Annual Charges are waived. 
3. A cashback of up to Rs.4,500 is provided on a yearly basis depending on the type of account and the Debit Card spending.
4. You can get a Non-Maintenance Charge Waived Savings Account.

12. 811

1. A savings account which can be opened online.
2. Earn an interest of 3.50% on your savings.
3. Zero balance account as in no need to maintain a minimum balance.
4. Get an 811 #DreamDifferent Credit Card for free.

13. 811 Edge

1. Earn an interest of 3.50% on your savings.
2. Pay Rs.199 and get a Platinum Chip Debit Card.
3. Maintain an average balance of Rs.10,000.
4. Conduct online transfers for free.

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.