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Kotak Junior Account is designed to inculcate the habit of savings in children from an early age and help parents build a corpus for their child's future. It comes with a first of its kind personalized Junior ID card for children, bundled with a host of exclusive privileges across dining, edutainment and shopping on kids' brands like Domino's, Jabong.com, Printland, National Geographic, Magzster and more.
Kotak Junior Account helps inculcate a saving habit in the child and helps parents build a corpus for their child's future. It is a bundled offering which includes:
|Junior Savings Account - NMC waived Nova Savings Account|
|Guardian Savings Account - One of our Savings Account variants designed to give you a worry-free banking experience|
|Investment in a Recurring Deposit / Systematic Investment Plan with as little as Rs. 2,000^ per month (minimum tenure of 36 months)|
^ Rs. 1000 or above for Semi-Urban & Rural Branches
A Recurring Deposit (RD) allows you to park a pre-defined amount in a long term deposit every month. You can sign up for an RD with a simple standing instruction and save for your child's future.
For e.g., If you were to invest Rs. 10,000/- per month for 10 years at an interest rate of 8.25% p.a., your child would receive Rs. 18.62 lakhs on deposit maturity.*
Seasoned financial planners tell you it is never too late to start investing. What they also tell you that it is better to start early. So what better way to invest in your child's future than with a Systematic Investment Plan?
Choose the amount and the duration that you wish to invest and start building that Ivy League education corpus that your child deserves.
While we recommend the bundled offering which ensures your child learns to save, Junior Account is also available in our regular Savings Account variants as mentioned below, without the separate Guardian Account and investment options (RD or Mutual fund SIP).
Platina | Ace | Pro | Classic | Edge | Nova
Note: *Conditions apply. NMC waiver is available with Nova variant of Junior Account with RD or SIP and Guardian's Savings Account only. Minimum average monthly balance is not required for Kotak Privy League and Wealth programme customers. Classic and standalone Nova savings account (No linked RD/MF SIP and guardian's savings account) is available in Rural & Semi-Urban branches only.
With Kotak Mahindra Bank you can avail great offers round the year from our key partners. Choose from offers across categories, including restaurants, travel, shopping, electronics, health & wellness, entertainment and more.
Click here to know more about the latest offers
|Offline Offers||Online Offers|
|US Pizza||First Cry|
|Domino's||Pen and Pencil|
|Donut Baker||Lighthouse Arts|
Know more about other Kotak Savings Account by clicking here
Our exciting introductory offer for the first year of Junior account opening gives you the option to choose from either Movie Tickets or Book Vouchers.
|Introductory offer Plan||Total No. of Movie Tickets or Book Vouchers|
|RD / SIP of Rs. 5,000 < Rs. 10,000 with Nova Junior Account|
Uninterrupted maintenance of average monthly balance in Pro/Classic Junior account.
(1 Per Quarter)
|RD / SIP of Rs. 10,000 and above with Nova Junior Account|
Uninterrupted maintenance of average monthly balance in Platina/Ace Junior account.
(2 Per Quarter)
*Earn 6% interest p.a. on savings account balance over Rs. 1 Lakh and 5.0% interest p.a. on balances up to Rs, 1 Lakh on Resident Accounts only.
#Debit Cards will be issued to children above the age of 10 years and it will have a daily withdrawal limit of Rs. 5,000/- only.
^NMC waiver is available on bundled offering only (Nova Junior account), as long as the Recurring Deposit or Systematic Investment Plan (SIP) is active, else Average Monthly Balance (AMB) of Rs. 5,000/- is to be maintained and standard charges will be debited on non-maintenance of AMB.
The waiver will not be applicable in case of failure in execution of the SI set towards RD/ SIP, due to insufficient funds in the Junior Account.