Kotak 811 Limited KYC

Kotak 811 Lite

Kotak 811 Full KYC Account

Features of Kotak811 Lite Mobile Account: Aggregate of all credits should not exceed Rs. 5,000 in a calendar month. Balance in the account should not exceed Rs. 5,000 at any point in time. The aggregate of all credits should not exceed Rs. 1,20,000 in a financial year.

Features of Kotak811 Limited Full KYC Account: Aggregate of all credit should not exceed 2 Lakh in a year and, Account balance at any point should not exceed 1 Lakh. Customer can transfer a maximum amount of 1,00,000 through online transfers. Customer won't be allowed to transfer funds through branch before the account is converted to Full KYC account. No cheque book will be issued.

##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction.

#+ Top 6 Cities • Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs.

*Financial transaction at ATM will include Cash withdrawal, Non-Financial transaction will include balance enquiry, PIN change, Mini statement request.

Transaction and Value Added SMS alerts would be sent to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.

*^ Physical regeneration of PIN will not be allowed for Kotak811 customers. Customer need to visit Mobile banking App to generate the PIN.

#Indo - Nepal Remittance Scheme (NEFT Charges):

If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes).

If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Up to Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Nil charges for NEFT done thru Mobile banking / Net Banking.

The Bank will charge cross-currency mark-up of 4.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA / Master Card wholesale exchange rate prevailing at the time of transaction.

Charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets ([email protected])

Charges are exclusive of the Goods and Service Tax (GST).

With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time.

State Government Taxes/ Cess as applicable shall be charged.

With effect from September 1 st 2019, TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year.

Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350/- per rejection<>

As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.

+Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder.

The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges.

**Wef 1st Feb’ 21 Cash Pick Up / Delivery for Ahmedabad & Kolkata for all SA & CSA account types - Free limits not valid on Cash Pickup Charges. For charges Kindly refer to table below. Cash Pick Up / Delivery (Ahmedabad & Kolkata Only): Up to 2 lacs: Rs 750/- per Req, Rs 2 Lacs to Rs 4 lacs: 1000/- per req, Rs 4 Lacs to Rs 8 lacs: 1575/- per req, Rs 8 Lacs to Rs 15 lacs: 2650/- per req, Rs 15 lacs & above: 4900/- per req

~Any purchase / sale of foreign exchange will attract Service Tax on the gross amount of currency exchanged as per Service Tax on Foreign Currency Conversion Charges (FCY) table below.

** UPI is not available for 811 Lite Account