Product Details
Bank Name
Kotak Mahindra Bank
Account Name
Kotak My Family 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
Classic or platinum debit card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
Nil
Debit Card Charges
0
NEFT Charges
0
IMPS Charges
Up to 10,000: Rs. 5;
10,001 to 1,00,000: Rs. 5;
1,00,001 to 5,00,000: Rs. 15
Fees and Charges
Kotak My Family Savings Account
Special Features
Enjoy services like cash pick-up and delivery, cheque delivery etc. from home
Eligibility Criteria
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Enjoy services like cash pick-up and delivery, cheque delivery etc. from home.
Free ATM usage for Pro and Ace savings account holders.
25% off on issuance charge of travel card Classic or Platinum Debit Card with high withdrawal limits and exciting offers
Customers can convert savings account balance above a certain amount into Term deposit.
Enjoy services like cash pick-up and delivery, cheque delivery etc. from home.
Cons
Kotak My Family Savings Account Review
The account comes loaded with a number of value add features. However, the account offers low interest rate. It can be considered by individuals who are looking for a good package of 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