Kotak Mahindra Bank Savings Account

Here is the table to show the Kotak Bank savings interest rate-

The Kotak interest rates on saving accounts can change from time to time, and also with the balances in the Kotak Mahindra Bank savings account.

The following are the primary perks and features-

• You will receive a high-interest rate of up to 3.50% p.a. on the money in the account.
• To gain access to numerous banking services, net banking and mobile banking are available.
• Utility bills can be scheduled and paid automatically.
• Debit and credit cards are offered at no cost.
• It is a risk-free investment because there is no volatility involved.
• Many Kotak Bank ATMs are located around the country, making it easier to access your money.

A Kotak savings bank account can be opened by visiting the nearest bank branch or online. The following are the steps for opening a Kotak savings account online-

Step 1: Go to Kotak bank's website.

Step 2: Go to the 'Browse Products' tab in the personal banking section, then select 'Account' and then the 'Savings Account' section.

Step 3: Before clicking the 'Apply Now' button, be sure you've read and comprehend all of the features, advantages, and terms & conditions.

Step 4: To proceed, enter your Complete Name, Mobile Number, and Email Address.

Step 5: Fill out the application form completely.

Step 6: Submit the necessary Know Your Customer (KYC) documentation.

Step 7: And the account is opened in no time.

• Residents of Indian origin who are at least 18 years old can open a savings bank account.
  
  
• Submit all KYC documents, including the PAN card, and deposit the minimum balance amount required by the savings bank account.

• A driving license, Aadhar Card, Voter ID, PAN Card, Senior Citizen Card, and any Government ID card are acceptable forms of identification.
• Aadhar Card, Passport, Bank Statement with Cheque, Utilities Bills, and Post Office Certificate are all acceptable forms of proof of residency.

Following are some of the various types of Kotak savings account-

The scheme is only offered in rural and semi-urban areas.

• INR 10,000 is the average monthly balance.
• Available: Platinum International Chip Debit Card.
• Demand drafts are free.
• Cash withdrawals from ATMs are free.
• Five free calls per month for cash pickup and delivery.
• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.

This is a fully digital savings scheme that can be accessed through a smartphone. Furthermore, there are no fees for non-maintenance of the account balance.

• Instant Account Opening: Accounts can be opened without visiting a bank branch.
• Minimum Balance: There is no minimum amount required to keep the account open, and there are no fees for having a low balance.
• Activ Money: An auto sweep-in and sweep-out facility are available, where surplus money is automatically transformed into an FD.
• Banking solutions with a single touch: With a single click, one can request a chequebook and transfer funds.
• Virtual Debit Card: The virtual debit card can be used for payments such as shopping, recharging, paying bills, and so on.

This is a savings account that may be started with only an Aadhaar card.

• INR 10,000 is the average monthly balance.
• Online transfers are completely free.
• Net banking and mobile banking services are available.

The scheme converts savings account balances in excess of a specific level into Kotak ActivMoney term deposits.

• INR 10,000 is the average monthly balance.
• Internet and mobile banking are both available.
• Cheque Book: Receive 25 free cheque leaves each quarter.

The account's goal is to teach children the importance of saving. The program also offers a variety of benefits in the areas of education, dining, and shopping. In addition, the account has a zero balance.

The account provides premium banking services as well as several high-end savings options.

• INR 20,000 is the average monthly balance.
• Withdrawals of Free Cash
• Free home banking service
• Internet and mobile banking services are available.
• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.
• Available: Platinum International Chip Debit Card

The scheme provides numerous benefits to women in the areas of finance, health, leisure, and food.

• Silk Debit Card: Offers attractive cashback as well as large withdrawal limits.
• Lockers: Lockers are available with a 35% discount on locker rentals.
• Banking Services at Home: Cheque and draft delivery to your door, as well as cash collection and delivery.
• Junior Accounts with RD or SIP: A minimum RD or MF SIP installment of INR 1,000 is required, with a minimum tenure of 36 months. Furthermore, the maximum monthly RD installment is INR 25,000 for a term of 120 months. It is also INR 1,000,000 for a 36-month term.

The account's goal is to provide faster and more secure access to all banking needs while charging modest maintenance fees. Furthermore, it provides free access to all domestic ATMs, NEFT, fund transfers, and other services.

• INR 2,000 is the average quarterly balance.
• Withdrawals of free cash
• At-par cheque book for free.

The account provides special perks, such as additional benefits and banking benefits, without any additional charges.

• INR 50,000 is the average monthly balance.
• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.
• Cash withdrawals are free.
• Par cheque is free.
• Internet and mobile banking are examples of digital banking.
• Transfer funds for free via NEFT, IMPS, or RTGS.
• Available: Platinum International Chip Debit Card.
• Exclusive Savings: 25% off gift cards.
• Locker facilities are available, with a 15% discount on locker rent.
• Home banking and demand drafts are both free.

• Available in both rural and semi-urban areas.
• INR 5,000 is the average monthly balance.
• Cash withdrawals are free.
• 25 cheque leaves every quarter, free at par.
• Transfer money for free using NEFT or RTGS.
• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.

The family savings account combines the benefits of all family members into a single account.

• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.
• They also have a relationship manager on staff.
• Home Banking for Free: Cash pickup and delivery, check delivery, and so on.
• Internet and mobile banking are both available.

The system is designed with the utmost consideration for the golden years of life. The account ensures that individuals live well until they reach the age of 55.

• Free Home Banking: cash pickup and delivery, check delivery, and so forth.
• Kotak ActivMoney: Available so that excess funds beyond a particular limit can be converted into term deposits.
• Overdraft protection is available. Furthermore, the cap is set at 85% of the fixed deposit value.
• Cashback: Up to INR 4,500 cashback on debit card purchases.
• The account also includes healthcare and exclusive features such as priority service, SMS callback, and alarms.

The system is intended to make regular savings both simple and enjoyable. This account can also be used to invest in RDs, FDs, NPS, mutual funds, and other products.

• There is no minimum balance requirement.
• Cashback: Up to INR 4,500 cashback on debit card purchases.
• Locker: Available at a 15% discount as well.
• Annual Account Fees: There will be no costs till the SIP is operational.
• Minimum Monthly Investment Amount: INR 2,000, INR 3,000, or INR 4,000 in RD or SIP.
• Savings and trading accounts are linked through a savings account. A minimum margin of INR 10,000 is required.