Savings Account
Worry-free bankingFrom 1st November, 2011, get 6.0% interest p.a. on your Savings Account balance over Rs. 1 lakh. And 5.5% p.a. on balance up to Rs.1 lakh.
It's a new Savings Account for a new age, because we all know that times have changed.
In today's world, you can't get by with a typical Savings Account. Why? Because a typical Savings Account doesn't do much more than provide you with a safe place to put aside your money. But that is not good enough!
At Kotak Mahindra Bank we believe so, that is why a Kotak Savings Account allows you to put aside a lot more than just your money.
Do take a closer look at the worry-free banking features of our Savings Account and then choose from the finely designed variants: Pro, Ace and Edge Savings Accounts.
"I don't want to worry about my money lying idle!"
With ActivMoney, you can make your savings earn more! When you choose to avail ActivMoney, the idle balance in your Savings Account (beyond a threshold) is transferred into a Term Deposit - earning you attractive returns.
"I don't like filling forms to transact in Mutual Funds."
Your Savings Account comes with an Investment Account, where your Mutual Fund investments are recorded. You can purchase, redeem, switch and even make systematic investments in Mutual Fund Schemes of over 20 Indian Mutual Fund houses.
"I don't want to wade through piles of statements to review my investments and asset allocation!"
Your Account Statement is not just a statement of your Savings Account balances, it is also a Wealth Statement. It gives you a consolidated view of the balance in your Savings Account, Term Deposit, Mutual Funds and Demat Account. That's not all, it gives you a graphical representation of your current asset allocation and the recommended asset allocation, based on your risk profile.
"I don't want to go to the bank branch!"
With Net Banking & Phone Banking, you can carry out almost all your banking transactions without having to visit the bank branch. Access to VISA ATMs across the world allows you to check balance and withdraw cash 24x7, in any part of the world.Mobile Banking gives you the convenience of being able to access and transact in your bank accounts and investment accounts on your mobile phone. It is convenient, secure and user friendly. Should you need to check your account, you can even use SMS Banking to check balance, request an e-mail statement and even place a cheque book request. Click here to know more
"I don't want to go to the ATM either!"
With Home Banking*, the bank comes to your home to give you the convenience of depositing or withdrawing cash without having to step out. Cheque pick-up and draft delivery are also available. All you have to do is pick up the phone, call our customer contact center and place a request. *Available in select cities
"I don't want to worry about credit card misuse when I shop online!"
With the Kotak Gold netc@rd, you can combine the benefits of using your bank account and the universal acceptance of a VISA card to make online purchases in a secure environment. It's simple and very safe! All you have to do is create a Kotak Gold netc@rd for the value you plan to spend online. The Kotak Gold netc@rd can be used only once and any balance unused is credited back to your account in 24 - 48 hours. You can use the Kotak Gold netc@rd online just like any credit card but with peace of mind. To create a Kotak Gold netc@rd simply log on to Net Banking or download and install the QuickPay application on your computer. Click here to know more
"I don't want to worry about paying bills on time!"
With BillPay, you can choose to forget about various due dates of your bills. Electricity, telephone, insurance premium, credit card bill and many more can be managed in a hassle-free manner. More than 120 different billers are available. With an add-on feature - AutoPay, you can even set the bill payment system to automatically clear your dues, by each due date. What's more, you can manage your bills through Net Banking, Phone Banking and even through your bank branches.
"I don't want to keep writing cheques!"
National Electronic Fund Transfer (NEFT) allows you to send money to a bank account with any bank, almost anywhere in India. You can do so by logging on to Net Banking or visiting your bank. All you need to know is the bank account number and the bank branch name of the person you wish to send money to.
"I don't like filling forms and signing cheques for applying in IPOs!"
Investing in IPOs is now simple and convenient. Your Savings Account comes with the ASBA facility using which you can easily apply in IPO/FPO/Right Issues through your Net Banking and Phone Banking from the convenience of your home!The application amount would be blocked and retained in your bank account so that you also enjoy continued returns on the blocked amount. Hence yo u don't need to fill lengthy forms and sign cheques to make the most of investment opportunities coming your way. Click here to know more
| Change in the methodology of computation and periodicity of interest payment on Savings Bank Accounts |
Savings accounts holders are hereby informed that in accordance to the RBI circular No.DBOD.No.Dir.BC 128/13.3.00/2008-09 dated April 24, 2009; payment of interest on Savings Bank Accounts will be calculated on a daily product basis with effect from April 1, 2010. With effect from 1st November, 2011, the Savings Account interest earned will be credited to the Savings Account on quarterly intervals instead of half-yearly. |