Alpha - The Savings & Investment Programme

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Alpha is a unique savings programme which gives the advantage of one stop Savings, Life Insurance and Investment avenues like Recurring Deposits, NPS or Mutual Fund .This is specially designed for individuals between the age group of 18 to 54 years to inculcate a regular habit of saving and making investment hassle free at the same time.

  1. Grow your money by earning up to 6%* interest p.a.
  2. Invest with a minimum monthly investment of Rs. 2000 in pre-selected investment options (RD/MF-SIP/NPS)^
  3. Protect your family's future with a Life cover worth Rs 20 Lakhs at a nominal monthly premium of Rs. 300.
  4. Save on your debit card point of sales (POS) spends with cash back up to Rs. 4500# p.a.

Disclaimers

  • *Earn 6% interest p.a. on Savings balance over Rs. One lakh and 5% on balance up to Rs. One lakh on residents' accounts only.
  • ^ Minimum tenure for investment : 36 months
  • # Maximum applicable Cash Back for Ace & Platina Savings Account holders
  • Mutual fund investments are subject to market risks, read all scheme related documents carefully.
  • Insurance is a subject matter of solicitation

 

GROW: Let your money grow by earning up to 6%* interest p.a. on your Savings Account Balance. Earn an even higher interest on your Savings Account by opting for ActivMoney facility, a feature which moves account balance above a certain threshold to a Term Deposit. What's more, this amount is always available to you without any pre mature withdrawal penalty charges - basically you don't need to constantly keep an eye on the idle balance and worry about optimising returns.

INVEST: Make 3 easy decisions at the time of signing up and then sit back and relax while your multitasking investments run like clock-work.

Decision - 1Decision - 2Decision - 3
TenureMonthly Investment AmountInvestment Options
Minimum 3 Years or moreRs 4,000 - Ace/Platina Account
Rs 3,000 - Pro/Classic Account
Rs 2,000 - Edge/Nova Account


Note:
These are minimum investments amounts for the Savings product variants.

• Recurring Deposit(RD)
• Systematic Investment Plan (SIP) in Mutual Funds
• National Pension System (NPS)

Pick one or more investments basis your need:

  • Recurring deposit - Secure investment option for short term needs. Your investments will earn at the Prevailing rate for recurring deposits.
    Watch your Money Grow (RD Calculator)
  • SIP In mutual funds - Funds that helps you to build a corpus over the long term.
  • National pension Scheme - Investment to get regular income after retirement .Your money will be invested in the Auto Choice Lifecycle Fund option which manages fund allocation in the best possible way.

    Auto choice - Lifecycle Fund - This is the default option under NPS and wherein the management of investment of funds is done automatically based on the age profile of the subscriber. For full details, one may go through the regulator's (PFRDA) website www.pfrda.org.in wherein the full details of the investment choices and fund management details are provided.

PROTECT: Peace of mind for you and your family with Rs 20 Lakh life insurance cover at a premium of Rs 300 per month (No medical test required).^

SAVE: Get up to Rs 4500# cash back p.a. on your point of sales (POS) debit card spends (Refer cash rewards tab for details)

Disclaimers

  • *Earn 6% interest p.a. on Savings on balance over one lakh and 5% on balance up to one lakh on residents accounts only.
  • ^Life Cover of 20 Lakhs for the first account holder in Kotak Alpha Savings Programme for monthly premium, currently at Rs. 300. Kotak Mahindra Bank Ltd. (license No- 1144761) is a corporate agent of Kotak Mahindra Old Mutual Life Insurance Ltd and Life Insurance cover is provided by Kotak Mahindra Old Mutual Life Insurance Ltd only. A Standing Instruction will be set towards debit of monthly premium from account under Kotak Alpha Savings Programme.
  • # Maximum applicable Cash Back for Ace & Platina Account holders
  • Kindly read program enrolment letter carefully before enrolling

Get up to Rs. 4500 cash back p.a. on your POS debit card spends.

Cash Back ParametersEdge / Nova*Pro / Classic*Ace / Platina
Maximum Cash back / Month (Rs.)125250375
Maximum Cash back / Year (Rs.)1,5003,0004,500
Minimum POS Spends required / Month (Rs.)5,00010,00015,000
Min AMB required / Month (Rs.)10,000 : Edge;
5,000 : Nova
20,000 : Pro;
10,000 : Classic
50,000 : Ace;
1,00,000 : Platina

Disclaimers

  • Alpha Cash Back rewards are subject to maintenance of requisite average monthly balances in the Savings Account under Kotak Alpha Savings Programme, requisite POS spends on Debit Card, minimum investments & linked Insurance being done in the month.
  • *Nova & Classic available in Semi-Urban & Rural branches only
  • Kindly read program enrolment letter carefully before enrolling
  • Please refer to the General Schedule of Fees and Charges for more information on charges

  • Waiver on Investment Account Annual charges*
  • Up to 25% Discount on locker rental (25% for Platina & 15% for Ace)
  • Up to 85% overdraft on Kotak term deposits (ROI plus 2%)
  • Waiver on Demat AMC for the 1st year : 50% for Pro/Classic 100% for Ace/ Platina
  • Debit Card:
    Savings Account Name*Edge/Nova*Pro/Classic*Ace/Platina
    Debit cardClassicPlatinum - Free for 1st yearPlatinum
  • Platinum Subscription of Kotak Moneywatch at a discounted  price of Rs 499/- per year
  • Net Banking and Mobile Banking services to do almost all banking transactions from home including mobile & DTH recharges

Disclaimers

  • Kindly read program enrolment letter carefully before enrolling for the Programme 
  • *Waiver on Investment Account Annual charges is subject to ongoing SIP in mutual funds
  • Charges applicable to services pertaining to account shall be charged as per General Schedule of Fees and Charges (GSFC)

  • Kotak Term Group Plan - UIN No. 107N007V04.
  • Sum Assured: Life Cover of Rs. 20 Lakhs for the first account holder in Kotak Alpha Savings Programme
  • Eligibility: Any resident individual holding Kotak Alpha Savings Account and is in the age group 18-54 years (inclusive of both years) can avail this proposition
  • Premium: Rs. 300 per month (Inclusive of all taxes)
  • Payment Mode: The premium will be directly auto-debited by the bank from the subscribers accounts. This is the only mode available
  • Risk Coverage: Total coverage (sum-insured) under the scheme is Rs. 20 Lakh
  • Major Exclusions: Any claim arising as a result of the member committing suicide (whether sane or insane) within 1 year of his/her being admitted as a member within the eligible categories hereinbefore mentioned will not be admissible. For more details, please refer the Master Policy wordings available with all Kotak Mahindra Bank branches.

Terms and conditions of Group Insurance Cover:

  • The Life Cover will be valid till the age of 55 years. The Life cover will automatically cease to exist once the customer completes 55 years of age.
  • The Customer can avail only one Account under Kotak Alpha Savings Programme.
  • Cover will commence from the day of debit of Insurance premium.
  • Kindly read Programme enrolment letter carefully for other terms & conditions of Group Insurance Cover

BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS

IRDAI clarifies to public that -

  • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums.
  • IRDAI does not announce any bonus.
  • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

Alpha - The Savings & Investment Programme is the product packaging of Corporate accounts offered by Kotak Mahindra Bank Ltd. who is a corporate agent of Kotak Mahindra Old Mutual Life Insurance Limited with Corporate Agency license number - 144761. Regd. Office: 27 BKC, C27, G Block, Bandra Kurla Complex, Bandra (E), Mumbai - 400051. The plan is offered and underwritten by Kotak Mahindra Old Mutual Life Insurance Ltd. Contract of Insurance is between Kotak Life Insurance and the proposer. Participation of customers of Corporate Agent shall be purely on voluntary basis.

Kotak Term Group Plan - UIN No. 107N007V04, Form No: Form No. N007. KLI/15-16/P-WEB/336. This is a non-participating group term plan. Kotak Mahindra Old Mutual Life Insurance Ltd. Regn. No.:107,CIN : U66030MH2000PLC128503 Regd. Office: 4th Floor, Vinay Bhavya Complex, 159 A, CST Road, Kalina, Santacruz East, Mumbai: 400 098. Website: http:// insurance.kotak.com Email: clientservicedesk@kotak.com Toll Free No: 1800 209 8800.


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