Product Details
Bank Name
Kotak Mahindra Bank
Account Name
Ace Savings Account
Account Type
Saving
Interest Rate
For balance upto INR 50 Lakhs: 2.75%. For balance between INR 50 Lakh and INR 300 Crore: 3.25% Account holders can earn up to 6.5% interest with ActivMoney (sweep-in FD).
Free Debit Card
Yes, is applicable in cases of World / World Exclusive Debit Card and Kotak PVR Debit Card.
Account Opening Fees
0
Annual Maintenance Fees
Up to 50,000 1,000
Above 50,000 Nil
Minimum Account Balance
Average Monthly Balance (AMB)
of Rs. 50,000/
Debit Card Charges
0
NEFT Charges
NIL
IMPS Charges
NIL
Fees and Charges
Ace Savings Account
Special Features
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Free multi-city cheque books.
Free add-on Platinum International Debit Card.
Free Home Banking.
Free Demand Drafts.
Avail a discount of 15% on Locker Rent.
Free outstation cheque collection.
Cons
Kotak Ace Savings Account Review
The account comes with low interest rate and offers average value add features.
Abhijeet Saxena
Abhijeet Saxena
Nalsar University of Law
Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi
Ex - Khaitan & Co. Bengaluru,
Ex - National Stock Exchange, Mumbai,
Ex - Argus Partners, Mumbai