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Product Details
Bank Name
Kotak Mahindra Bank
Account Name
Kotak Samman Savings Account
Account Type
Saving
Interest Rate
For balance upto Rs.50 lakhs-3.50%p.a and Rs.50 Lakhs-4%p.a.
Free Debit Card
Classic Debit Card
Account Opening Fees
0
Annual Maintenance Fees
0
Minimum Account Balance
2000
Debit Card Charges
Nil charges for 1st year, thereafter Rs. 199 p.a
NEFT Charges
Free through Netbanking
IMPS Charges
Up to 10000: 5; 10001 to 100000: 5;
100001 to 500000: 15
Fees and Charges
Kotak Samman Savings Account
80
Special Features
None
Eligibility Criteria
Resident Indians (Sole or joint account) and Hindu Undivided Families (HUF).
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Unlimited cash withdrawals at any domestic ATMs,Free facility of Net BankingKotak ActivMoney – convert your savings account balance into Term Deposits to earn higher interest rates (conversion only up to a certain amount),Free passbook, Free Home Banking
Free at-par cheque.
Cons
No zero balance account facility available.
Kotak Sanman Savings Account
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
Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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