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Product Details
Bank Name

Kotak Mahindra Bank

Account Name

Account Type

Saving

Interest Rate

For balances upto Rs. 50 lakhs -3.50% p.a.,For balances above Rs. 50 lakhs-4% p.a.

Free Debit Card

Yes

Everyday Savings Account
Account Opening Fees

0

Annual Maintenance Fees

Minimum Account Balance

20000 (Average Monthly Balance)

Debit Card Charges

1st year free 2nd year Rs. 259, Replacement of Lost / Stolen Debit Card Rs. 200

NEFT Charges

NEFT / RTGS - Applicable only if done in Branch NEFT : Upto 10,000: Rs. 2; 10,001 to 1,00,000: Rs.4; 1,00,001 to 2,00,000:

IMPS Charges

Free

Fees and Charges

Everyday Savings Account

Special Features
Transact* 30 times a month or maintain Average Monthly Balance of Rs. 20,000/- to get Non Maintenance charges (NMC) waived off
Eligibility Criteria
Resident Indian (Sole or Joint Account) Hindu Undivided Families Foreign Nationals Residing in India
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
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.
Cons
Low intreast rate
Application Procedure

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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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