Under this Promotional Offer, Subscriber needs to pay a minimum contribution of 2000 for opening NPS Account. This will be deducted from the linked Savings Account after a customer submits a duly filled in Debit Authorisation Form. After deducting the account opening and contribution processing charges, plus applicable taxes, the amount will be credited to subscribers NPS account. NPS account can be opened without this promotional offer.
At the time of opening the account, Subscriber will need to set up a standing instructions (SI) to debit their linked Savings Account and contribute a minimum of 2000 to NPS account monthly. If subscriber wants to invest amount over and above the SI, it can be done online from Kotak Netbanking OR deposit the contribution amount along with duly filled NCIS (NPS Contribution Instruction Slip) to any Kotak Mahindra Bank branch.
Yes. Minimum annual contribution amount for NPS Accounts as per NPS rules is 1000 per FY. When you open an NPS account under this Promotional Offer, you will need to make a minimum contribution of 2000 per month from your linked Savings Account.
There is no limit to number of contributions you can make even if the SI is set in your account. Customers applying through this website are required to contribute a minimum of 2000 per month (plus applicable charges and taxes) by mode of standing instructions from their linked savings account. Additionally, subscribers can make manual contribution as well from Kotak netbanking without any cap on frequency or amount to be invested.
Subscribers are allowed to change the contribution amount as per suitability. Under this Promotional Offer, Subscriber can set up a standing instruction of any amount higher than 2000 per month (plus applicable charges and taxes) with no upper cap. You may contact your RM or Kotak Mahindra Bank branch to change your SI amount.
Yes, once the contribution is credited to subscriber’s NPS account, an email alert as well as a SMS alert is sent to the registered email ID and mobile number of the subscriber.
The subscriber should pay a minimum contribution of 500 for current year together with a penalty of 100 along with the unfreeze request. POP Charges to be paid over and above this amount.