Open Activ Money Current Account and Earn Interest on Idle Funds | Kotak Mahindra Bank
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ActivMoney Premium Current Account

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Power-packed features for your business

  • Average Quarterly Balance to be maintained of Rs. 5 Lakh
  • ActivMoney^ facility enables auto-sweep from the Current Account to a Fixed Deposit once the funds cross the threshold limit
  • No penalty on premature withdrawal of FD
  • Fixed Deposits are created for 180 days in multiples of Rs. 10,000
  • Cash deposit up to 10 times of previous month’s average credit balance or Rs. 60 lakh, whichever is higher
  • Free cash withdrawal at home branch location
  • Free cash withdrawal at non-home branch locations up to Rs. 5 lakh per day
  • Free unlimited Demand Drafts payable at Kotak and Non-Kotak Bank branches
  • A waiver on outward cheque returns (up to 10 instruments per month)

ActivMoney^ Current Account

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Power-packed features for your business

  • Average Quarterly Balance to be maintained of Rs. 2.5 Lakh
  • ActivMoney^ facility enables auto-sweep from the Current Account to a Fixed Deposit once the funds cross the threshold limit
  • No penalty on premature withdrawal of FD
  • Fixed Deposits are created for 180 days in multiples of Rs. 10,000
  • Cash deposit up to 10 times of previous month’s average credit balance or Rs. 25 lakh, whichever is higher
  • Free cash withdrawal at home branch location
  • Free cash withdrawal at non-home branch locations up to Rs. 2.5 Lakh per day
  • Free Demand Drafts (up to 50 instruments per month) payable at Kotak Bank branches
  • Free Demand Drafts (up to Rs. 30 Lakh per month) payable at non-Kotak Bank branches
  • A waiver on outward cheque returns (up to 10 instruments per month)

Offers Beyond Banking for your business

Disclaimers

Refer to the General Schedule of Features and Charges (GSFC) to know about the Home Banking charges applicable as per your account type.

^ActivMoney (Auto Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your Current / Savings Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in Current/Savings Account, the TD will be broken prematurely and the required amount will be transferred to Current / Savings Account. Default Sweep Out and Sweep In for limit for an account variant are the minimum thresholds and one will not be able to opt for limits lower than these. Auto-Sweep out of funds above a pre- specified threshold from Savings to Fixed Deposit will be for 180 days (For NRE accounts it will be for 1 year) and in multiples of Rs.10,000/-. The nomination registered for Saving Account / Current Account will apply for FDs created through ActivMoney. If customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and Conditions guiding the fixed deposit will be applicable to fixed deposits booked under ActivMoney. Bank may at its absolute discretion discontinue / suspend any of the services completely or partially with or without any notice to me.

Frequently Asked Questions

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What is ActivMoney^?

It is a facility that enables you to earn interest on the idle funds in your Current Account.

Balance above a pre-decided threshold is automatically transferred into a Fixed Deposit, thus earning interest income.

What is Sweep-in Threshold?

It is a pre-set limit below which if the account balance falls, the Fixed Deposit is automatically broken, and the amount is transferred into the Current Account to meet the shortfall.

What is Sweep-out Threshold?

It is the account balance limit above which the excess funds are automatically transferred into a Fixed Deposit, thus earning you interest income.

In what multiples will the Fixed Deposits be created?

The Fixed Deposits will be created in multiples of Rs. 10,000.

In what multiples will the Fixed Deposits be broken?

The Fixed Deposits will be broken in multiples of Rs. 10,000.

What will be the tenure for which the Fixed Deposit will be booked in ActivMoney^?

The Fixed Deposit will be booked for a tenure of 180 days with a maturity instruction to transfer the funds to the Current Account.

Frequently Asked Questions

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What is a Current Account?

A Current Account is a special type of an account that facilitates a higher number of transactions for businesses to run their daily operations seamlessly.

How to open a Current Account?

Opening a Current Account is easy. The applicant needs to submit the KYC documents along with the duly filled account opening form.

Who can open a Current Account?

A Current Account can be opened by the below businesses/constitutions:

* Sole Proprietorship Firm

* Partnership Firm

* Limited Liability Partnership Firm

* Hindu Undivided Family/Joint Hindu Family (HUF)

* Public or Private Limited Companies

Can I open a zero-balance Current Account?

A Current Account helps in making business payments and collections seamless.

However, there is a minimum balance requirement that needs to be maintained based on the variant you choose.

What are the documents required for opening a Current Account?

KYC documents that need to be submitted differ from business to business. Click here to know the documents required for Current Account.

Do Current Accounts earn interest?

No, Current Accounts don’t earn you interest. However, you can enjoy attractive returns and earn interest income on the idle funds in your Current Account with the ActivMoney facility.

What is the minimum balance for a Current Account?

The minimum balance requirement that needs to be maintained depends upon the variant you choose.

What are the different types of Current Accounts?

Discover a wide range of Current Account variants, tailored to meet the unique needs of your business, regardless of the industry you operate in.

Whether you're launching a startup, expanding your enterprise or seeking to diversify, our Current Account solutions offer the perfect fit for your aspirations.

Which Current Account is best for small businesses?

Small businesses have their unique set of requirements. Small business current account and its tailor-made solutions are specially crafted for small/growing businesses.

Can an Individual open a Current Account?

Yes, an individual can also open a Current Account.