Find out Merchant One Premium Current Account Fees and Charges

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Merchant One Premium Current Account

Quarterly Balance

Average Quarterly Balance of Rs. 1,00,000

Current Account

Bank account that is tailor-made for all your business banking needs

Kotak ActivMoney

*Current account balance converts to term deposits – to help earn attractive returns on idle balances

Kotak One POS powered Kotak Biz Connect solution

Unlock infinite opportunities and boost your sales by collecting payments on the go

kotak.biz

Make your phone your cash counter. Receive payments using QR, Tap on Phone, SMS Pay and more

Overdraft Facility

Meet your growing business requirements with Overdraft facility

Merchant One Premium Current Account

Free cash deposit up to Rs. 10 Lakh per month
Free cash withdrawal at home branch location
Free cash withdrawal at non-home branch locations up to Rs. 1,00,000 per day
Free NEFT and RTGS through Kotak Net Banking
Free SMS Alerts
Free Business Platinum Debit Card^^
Up to 30 free DD/BC per month (standard charges apply thereafter)
Home Banking Service: On call cash/cheque pickup and delivery **
Free multi city, at-par cheque books ***
Kotak ActivMoney^ helps you convert the idle funds in your Current Account into Term Deposits to enable you to earn attractive returns
Overdraft facility – Overdraft limit basis your POS swipes, ensuring your day-to-day financing needs are covered #
Competitive Forex rates and efficient trade services
Cash Management Services
Free 24*7 Net, Mobile, Phone and SMS banking

Disclaimers

^^ Annual Charges waived for the first year
** Refer the General Schedule of Features and Charges (GSFC) to know the Home Banking charges applicable as per your account type
*** Up to 300 cheque leaves free per month (standard charges apply thereafter)
# Terms & Conditions apply. Credit at sole discretion of Kotak Mahindra Bank Ltd and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
^ 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.

Copyright Kotak Mahindra Bank Ltd.

Kotak One POS powered by Kotak Biz Connect solution

Zero MDR on UPI, instant EMI conversion, Same Day Settlement, Dynamic QR on POS and Contactless Card acceptance*
Digital Billing – Enjoy a hassle-free billing experience from adding products to billing cart by scanning, searching with name or barcode to printing itemised bills, do this and a lot more
Supply Management – Timely management of all the supply requirements of your business
VAS – Skilling and business setup on ECOM support^
Inventory Management - Get a preloaded catalogue of approx. 2 lakh SKUs, receive automated stock alerts, stock reports and more.
Push Offer / Discount & Loyalty - Offer discounts and regular updates via the free SMS service available with Kotak Biz Connect solution
Online Store – Give your customers the convenience to order products online through Biz Connect
Customer Database Management - Maintain your customer’s daily purchase data and know their trend of purchase
Credit Management - Manage credit accounts for your loyal customers, send reminders for the due amount and collect them easily using the Kotak Biz Connect solution
Reports - Streamline your business operations as you get actionable insights from various reports

Disclaimer:

* MDR on UPI is applicable as defined by RBI guidelines, Dynamic QR is available on activation, Collect contactless card payment up to Rs. 5,000 without PIN
^ Will be offered by the external vendor and not by the bank

kotak.biz

Superfast onboarding and activation – Quick and easy activation for collecting payments from customers
Seamless Collections – Collect contactless payments through various payment modes using QR, SMS Pay or UPI
Automatic Settlements – Enjoy access to all your payments and check the status of settlement against each transaction on the app
Service Support – Raise queries via the kotak.biz app and get priority support without having to call customer care

Sole Proprietorship

Any two of the following documents as a proof of business/ activity in the name of the proprietary firm:
- Certificate/licence issued by the municipal authorities under Shop and Establishment Act
- CST/VAT/ GST certificate
- Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
- IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
- Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
- TAN Allotment Letter issued by NSDL in the name of the firm
- Certificate/ License of Registration under any specific Statute/Act of the government
- Utility bills such as electricity, water, and landline telephone bills
Identity and Address of the Sole Proprietor:
- Passport
- Driving License
- Voter ID card
- Aadhaar card
- PAN card
- Letter issued by the National Population Register
A self-declaration on the Bank’s prescribed format

Partnership Firms

PAN in name of Firm
Partnership Deeds
Registration Certificate or one government issued certificate confirming the name, address & activity of the firm
- Certificate/licence issued by the municipal authorities under Shop and Establishment Act
- CST/VAT/ GST certificate
- Certificate/registration document issued by Sales Tax/Service Tax/Professional Tax authorities
- IEC (Importer Exporter Code) issued to the proprietary concern by the office of DGFT/ Licence/certificate of practice issued in the name of the proprietary concern by any professional body incorporated under a statute
- Complete Income Tax Return (not just the acknowledgement) in the name of the sole proprietor where the firm's income is reflected, duly authenticated/acknowledged by the Income Tax authorities
- TAN Allotment Letter issued by NSDL in the name of the firm
- Certificate/ License of Registration under any specific Statute/Act of the government
- Utility bills such as electricity, water, and landline telephone bills
Partnership Declaration in bank format (to be signed by all the partners)
Proof of Identity & Address of Partners:
- Passport
- Driving License
- Voter ID card
- Aadhaar card
- PAN card
- Letter issued by the National Population Register

Limited Liability Partnership

PAN in name of firm
LLP agreement
Certificate of Incorporation issued by the Registrar of Cos
Resolution for Account Opening
Beneficial owner information & KYC documents
Identity & Address Proofs of Partners/Authorised Signatories:
- Passport
- Driving License
- Voter ID card
- Aadhaar card
- PAN card
- Letter issued by the National Population Register

Hindu Undivided Family/Joint Hindu Family (HUF)

PAN Card in name of HUF
HUF declaration (duly signed by all the co-partners and naming the Karta, who would be authorised to operate the account.)
Proof of ID, Address & Signature Proof of Karta
- Passport
- Driving License
- Voter ID card
- Aadhaar card
- PAN card
- Letter issued by the National Population Register

Public or Private Limited Company

PAN Card in name of company
Certificate of Incorporation
Certificate of Commencement of business (only for limited companies incorporated under Companies Act 1956)
Updated Memorandum & Articles of Association
Board Resolution for Current on letterhead
List of Shareholding pattern on letterhead
Proof of Principal place of Business / Registered Office / Mailing Address
Present list of names of Directors & Identity & Address Proofs of Authorised Signatory
- Passport
- Driving License
- Voter ID card
- Aadhaar card
- PAN card
- Letter issued by the National Population Registerg
Beneficial owner information & KYC documents

Disclaimer – Kindly note that this is an indicative list

General Schedule of Features & Charges (GSFC)

For Retail Current Accounts & Current Accounts with OD/CC facility (w.e.f. 1st April, 2022)

Please refer the General Schedule of Features and Charges (GSFC) for your Current Account (revised with effect from 1^st Sep 2023) Click here

Particulars		Standard Charges (in Rs.)	Product Level NIL Charges Limits & Charges (in Rs.)
Product Name			Merchant One Premium
Average Quarterly Balance (AQB) in Rs.			1,00,000
Remittances/Payments:
Demand Draft/ Banker's Cheque	Payable at Branch Locations	1/1000 (Min 50 Max 5000)	NIL Charges up to 30 DD/ BC p.m.; thereafter Std Chrgs
Demand Draft/ Banker's Cheque	Payable at Non- branch Locations	2/1000 (Min 50 Max 5000)	NIL Charges upto 10L p.m.; thereafter Std Chrgs
RTGS	Applicable only if done in Branch	2 - 5 L: 20/ txn; > 5 L: 40/ txn	NIL Charges
NEFT**	Applicable only if done in Branch	Upto 10k: 2/txn; >10K to 2L: 4/txn; >2L: 24/txn	NIL Charges
IMPS	Upto Rs. 100000: Rs.5 / txn Above Rs. 100000 : Rs. 15 / txn		NIL Charges
Cheque Book	Default Cheque Book is Payable At-par Only	Upto 500 leaves/p.m. - 2/leaf; Above 500 leaves/p.m. - 3/leaf	NIL Charges upto 300 leaves p.m then Std Charges
Receipts/ Collections:
Out-station Cheque (Cheques drawn on non-speed clearing branches)	Drawn at Kotak Branch Locations	<10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq	NIL Charges
	Drawn at Kotak Non - branch Locations	<10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq	<10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq
Home Banking:
On Call Requests	Cash Pick-up or Delivery^	Up to 2 lacs: Rs 750/- per Req, Rs 2 Lacs to Rs 4 lacs: 1250/- per req	*
On Call Requests	Cheque Pick-up/DD Delivery	Rs 75/- per request	Nil charges up to 3 req per month there after Std Charges
Beat Service	Cash Pickup	Up to 1L: Rs. 2.5/1000; 1.01L to 6L: Rs.1.25/1000; 6.01L to 100L: 1/1000	*
Beat Service	Cheque Pick-up	500 p.m.	NIL Charges
Cash Deposit & Withdrawal:
Cash Deposits	At Home Branch & non Home Branch Location@	Rs. 3.5/1000 Min 50 per txn	NIL Charges upto 10 L thereafter Std Chrgs
Cash Withdrawal	For Non - home Branch Location	Rs. 2/1000 Min 50 per txn	NIL Charges upto 1L per day; thereafter std charges
Automated Teller Machine (ATM): Kotak ATM Txn - Nil Charges
Other Bank's VISA ATMs - Domestic	Non Financial Txn	8.50 per txn	NIL Charges
Other Bank's VISA ATMs - Domestic	Cash Withdrawal	21 per txn
Other Bank's VISA ATMs - International	Non Financial Txn	25 per txn	*
Other Bank's VISA ATMs - International	Cash Withdrawal	150 per txn	*
Transactions declined at merchant outlets/websites/ATM, due to insufficient balance^^	Insufficient Funds	25 per txn	*
Debit Card:
Debit Card Charges	Annual Fee	Rs. 250 p.a.	NIL Charges for 1st Year thereafter Rs. 250 p.a
Card Replacement	Lost / Stolen Card	Rs. 200	*
Other Charges:			*
Account Related
AQB Non - maintenance * <>	Non maintenance charges per quarter	If AQB < 50% of the required Product AQB	Rs. 5000
AQB Non - maintenance * <>	Non maintenance charges per quarter	If AQB >=50% but < 100% of the required Product AQB	Rs. 3000
Account Closure Charges		Customer Indused Closure	<30 Days & > 181 Days: Nil; 31 - 181 Days: Rs. 600
Cheque Returns <>
Cheques Deposited & Returned (Outward)	Local & Out-station	Rs. 100 per Cheque	Nil charges upto 10 p.m.;thereafter Std Charges
Cheques Issued and Returned (Inward) & ECS returns	Financial Reasons	Rs. 500/instance	*
SMS Alerts & Updates
Balance (Daily/Weekly), Txn & Value Added Alerts		SMS - Rs. 0.5 per SMS Email - Nil charges	NIL Charges
Charges Common for All Products
Account Statements (Through Email -Nil charges )
Weekly	Physical	Rs. 300 per Quarter	*
Annual Combined Statement (Physical)	Through Branch & Phone Banking : Rs 100		*
Ad- hoc Statements Request	At Branch/ Phone Banking	<=365 Days: Rs.100	*
	At Branch/ Phone Banking	>365 Days: Rs. 200	*
	On Net Banking/ ATM	Rs. 50	*
Foreign Currency Payments & Collections
DD Issuance/DD Cancellation /DD Revalidation/Cheque Collection		Rs. 500	*
TT Transfer ~	Corr Bank Chrgs Borne by Beneficiary	Rs. 250	*
TT Transfer ~	Corr Bank Chrgs Not Borne by Beneficiary	Rs. 1000	*
Cheque Deposited and Returned ~ / Cheque Issued and Returned ~ <> (Financial Reasons)		Rs. 1000	*
Miscellaneous Charges
PIN Regeneration	ATM/ Phone/ Net Banking (only if sent through courier)	Rs.50	*
Fund Transfer Return	Financial Reasons	Rs.300	*
Cheque Purchase Charges		Rs. 0.5/1000/Day	*
Travelers Cheque Encashment ~		1% of TC Amount	*
Mandate Registration Charges		Rs.50/Instance	*
Standing Instruction	Set-up & Failure	Rs.100	*
Standing Instruction	Amendment	Rs.25	*
TDS Certificate(Duplicate only)		Rs. 200/Request	*
Interest Statement(Duplicate only)/ Stop payment/ DD/BC Cancellation & Revalidation/Signature Verification/Address Confirmation/Balance Statement(Other than 31st March)/Record retrieval charges/Photo Attestation		Rs.100/Request	*
Solvency Certificate		Rs. 10000	*
Confidential Report/Credit Confirmation/ TOD Charges		Rs. 500	*
GST on Foreign Currency Conversion Charges (FCY) ~
Value of purchase or sale of Foreign Currency		Value on which GST rate will be applicable
Up to 1,00,000		1% of the gross amount of currency exchanges or minimum of Rs.250/-
Above Rs.1,00,000/- to Rs.10,00,000/-		1000 + 0.50% of the gross amount of currency exchanged less 1,00,000.
Above Rs.10,00,000/-		Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs.60,000/-
Above Rs.10,00,000/-
Please Note:
* Non maitenance Charge (NMC) will be waived if total monthly transactions value through POS/QR is Rs.25,000 for Merchant One and Rs.50,000 for Merchant One Premium, if not then standard NMC will be applicable
Coin Deposit charges: "Nil Charges" upto deposit value of Rs 50 ; Beyond Rs 50 per instance, 5% on entire amount of coins deposited will be charged. Low Denomination Charges: 0.5% of the value above Rs 5000 deposit per instance ; Only Rs 10 and Rs 20 notes will be considered. SMS Alerts & Updates: Mandatory Alerts will not be charged.
Under Home Banking cash pick up services (On Call & Beat), lower denomination (value equal to or less than Rs. 50 ) notes and coins will not be accepted. Beat Cash Pick up : Beyond city location will be charged 0.25 /1000 (plus applicable GST).
Non financial Txn under debit card section includes Balance enquiry , Mini Statement & PIN Change.
Top 6 Cities#+ Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad
* Indicates Standard Charges are Applicable
Abbreviations Used: For all value figures L=Lakhs & K=Thousand; Chq = Cheque; Std = Standard; Chrg = Charge; Txn=Transaction; p.m.=per month; p.a.=per annum; Avg=Average; FCY= Foreign Currency; FT=Fund Transfer; Corr=Correspondent; TOD=Temporary Overdraft; w/o= without
"NIL Charges" are not applicable for Current Accounts Maintaining Less than 75% of the Required Product AQB:
Product wise limits offered on various transactions and services with "NIL Charges" shall be applicable only if the Average Quarterly Balance (AQB) maintained in the account in that quarter is atleast 75% of the product AQB; else standard charges shall apply as per the GSFC in effect. Additionally, AQB non-maintenance charge will also be applicable as mentioned in GSFC.
**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): Upto Rs 5000 - Rs 75 per txn & beyond Rs 5000 - Rs 100 per txn (incl all taxes)
# Applicable for all transactions which involve foreign currency conversion. This charge is applicable from May 16, 2008 as per the CBDT Circular
~ Any purchase / sale of foreign exchange will attract GST on the gross amount of currency exchanged as per GST on Foreign Currency Conversion Charges (FCY) table above
Please note any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs 300/- per rejection.
@ Nil charges Cash Deposit Limits & Cash Handling Charges for OD Accounts:
Nil charges at Home Branch Location Only: Home branch location is defined as all the branches belonging to the same clearing zone in which the account is opened.
Charges applicable :
Rs 3.5/1000 of cash deposited and part thereof + GST as applicable.
*Nil charges on Transaction and Value added SMSalerts to the customers who have subscribed for Daily/Weekly balance alert facility.
*Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent without any charges, even if Daily/Weekly Balance SMS alerts facility has not been subscribed.
Service Charges to Account Holders in Rural / Semi-urban locations:
Kotak Synergy Current Account is available to customers of other businesses within the group, same features & charges as EDGE (CAEDG) Current Account are applicable at a reduced AQB of Rs 10,000. Features & charges as ELITE (CAELT) Current Account are offered at NIL AQB for all below mentioned accounts, except ODRET (Retail Overdraft Account) where charges as EDGE Current Account are offered at NIL AQB. Home Banking services which will be offered at standard charges plus registration fee of Rs 250/- per annum for these customers.
Product Name (Prodict Code)	Business Group	Product Name (Prodict Code)	Business Group
Retail Overdraft Account (ODRET)	Business Banking Group	Business Finance Current Account (CABFA)	Business Banking Group
Business Plus Current Account (CAPPV)	Home Finance Division	Business Current Account (CABUS)	Personal Loan Divison
Kotak Logistics Overdraft Account (ODLOG)	Commercial Vehicles Finance Division	Agri Finance Overdraft Account (ODAGR)	Agri Finance Division
The Bank will charge cross-currency mark-up of 3.5% 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.
<> Indicates penalty charges
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”
W.e.f 1st July,2020; threshold as well as Rate of TDS applicable for CASH withdrawal will dependent on submission of proof of Income Tax Return filed. Revised TDS rates will be as under :
Aggregate Cash Withdrawals in all accounts in a Financial Year		Income tax Return copy Submitted to Bank	Income tax Return copy NOT Submitted to Bank
Upto Rs.20 Lakhs		Nil	Nil
Rs.20 lakhs to Rs. 1 crore		Nil	2%@
In Excess of Rs. 1 crore		2%@	5%@
@If PAN is not updated in the account then the TDS deduction at the rate 20% as per section 206AA of the Income Tax Act will apply. For foreign companies, foreign partnership firms, Non-residents additional surcharge and health & education cess will be applicable as per Income Tax law.
All charges are subject to revision with an intimation of 30 days to account holders. Closure of account due to revision of charges will not be subject to account closure charges.