
General Schedule of Features & Charges (GSFC) | |||||||||
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For Kotak Online Current Account (w.e.f 1st September, 2023) | |||||||||
Particulars | Standard Charges (in Rs.) | Product Level NIL Charges Limits & Charges (in Rs.) | |||||||
Product Name | Kotak Online Current Account | ||||||||
Average Quarterly Balance (AQB) in Rs. | Nil | ||||||||
Remittances/Payments/Cash transaction: | |||||||||
Demand Draft/ Banker's Cheque | Payable at Branch Locations | 1 / 1000 (Min 50 Max 5000) | Std Charges | ||||||
Payable at Non- branch Locations | 2 / 1000 (Min 50 Max 5000) | Std Charges | |||||||
RTGS | Applicable only if done in Branch | 2 - 5 L: 20 / txn; > 5 L: 40 / txn |
Nil charges upto 5 txns p.m thereafter std charges | ||||||
NEFT** | Applicable only if done in Branch | Upto 10k: 2/txn; >10K to 2L: 4/txn >2 L: 24/txn |
Nil charges upto 5 txns p.m thereafter std charges | ||||||
Cash Withdrawal | For Non - home Branch Location | 2/1000 Min 50 per txn | Nil charges | ||||||
Cash Deposits | At Home Branch & non Home Branch Location | 3.5/1000 Min 50 per txn | Std Charges | ||||||
Cheque Book | Default Cheque Book is Payable At-par Only | Upto 500 leaves/p.m. - 2/leaf; | Std Charges | ||||||
Above 500 leaves/p.m. - 3/leaf | |||||||||
IMPS | Upto Rs. 100000: 5 / txn; | Std Charges | |||||||
Above Rs. 100001: 15 / txn | |||||||||
Receipts/ Collections: | |||||||||
Out-station Cheque | Drawn at Kotak Branch Locations | <10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq | Std Charges | ||||||
(Cheques drawn on non-speed clearing branches) | Drawn at Kotak Non - branch Locations | <10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq | Std Charges | ||||||
Home Banking: | |||||||||
On Call Requests | Cash Pick-up or Delivery^ | Upto 2 lacs: Rs. 875/- Rs. 2 lacs to Rs. 6 lacs: Rs. 1,475/- Rs. 6.01 lacs to Rs. 10 lacs: Rs.2,475/- Rs.10.01 Lac to Rs. 20 Lacs: Rs.4,075/-Rs.20.01 Lacs to Rs.100.00 Lacs: Rs.6,675/- per request |
Std Charges | ||||||
Cheque Pick-up/DD Delivery | Rs 75/- per request | Std Charges | |||||||
Beat Service | Cash Pickup | Up to Rs.1.00 Lac: 2.75/1000 Rs.1.01 Lacs to Rs.6.00 Lacs: 1.75/1000 Rs.6.01 Lacs to Rs.100.00 Lacs: 1.5/1000 Per Month |
Std Charges | ||||||
Cheque Pick-up | 500 p.m. | Std Charges | |||||||
Automated Teller Machine (ATM): Kotak ATM Txn - Nil Charges | |||||||||
VISA ATMs - Domestic | Non Financial Txn | 8.50 per txn | Std Charges | ||||||
Cash Withdrawal | 21 per txn | ||||||||
VISA ATMs - International | Non Financial Txn | 25 per txn | Std Charges | ||||||
Cash Withdrawal | 150 per txn | Std Charges | |||||||
Txn declined at merchant outlets/website/ATM, due to insufficient Balance^^ | Insufficient Funds | 25 per txn | Std Charges | ||||||
Debit Card: | |||||||||
Debit Card Charges | Annual Fee | Rs. 259 p.a. | Std Charges | ||||||
Card Replacement | Lost / Stolen Card | Rs. 200 | Std Charges | ||||||
Other Charges: | |||||||||
Account Related | |||||||||
Account Closure Charges | Customer Induced Closure | <30 Days & > 181 Days: Nil; 31 - 181 Days: Rs. 600 | |||||||
Cheque Returns <> | |||||||||
Cheques Deposited & Returned (Outward) | Local & Out-station | Rs. 100 per Cheque | Std Charges | ||||||
Cheques Issued and Returned (Inward) & | Financial Reasons | Rs. 500/instance | Std Charges | ||||||
ECS returns | |||||||||
SMS Alerts & Updates | |||||||||
Balance (Daily/Weekly), Txn & Value Added Alerts | SMS - Rs. 0.50 per message | Std Charges | |||||||
Email - Nil charges | |||||||||
Charges Common for All Products | |||||||||
Account Statements (Through Email -Nil charges ) | |||||||||
Weekly | Physical | Rs. 300 per Quarter | Std Charges | ||||||
Annual Combined Statement (Physical) | Through Branch & Phone Banking : Rs 100 | Std Charges | |||||||
Ad- hoc Statements Request | At Branch/ Phone Banking | <=365 Days: Rs.100 | Std Charges | ||||||
>365 Days: Rs. 200 | Std Charges | ||||||||
On Net Banking/ ATM | Rs. 50 | Std Charges | |||||||
Foreign Currency Payments & Collections # | |||||||||
DD Issuance/DD Cancellation /DD Revalidation/Cheque Collection | Rs. 500 | Std Charges | |||||||
TT Transfer ~ | Corr Bank Chrgs Borne by Beneficiary | Rs. 250 | Std Charges | ||||||
Corr Bank Chrgs Not Borne by Beneficiary | Rs. 1000 | Std Charges | |||||||
Cheque Deposited and Returned ~ / Cheque Issued and Returned ~ <> (Financial Reasons) | Rs. 1000 | Std Charges | |||||||
Miscellaneous Charges | |||||||||
PIN Regeneration | ATM/ Net Banking (only if sent through courier) | Rs.50 | Std Charges | ||||||
Fund Transfer Return | Financial Reasons | Rs.300 | Std Charges | ||||||
Cheque Purchase Charges | Rs. 0.5/1000/Day | Std Charges | |||||||
Travelers Cheque Encashment ~ | 1% of TC Amount | Std Charges | |||||||
Mandate Registration Charges | Rs.50/Instance | Std Charges | |||||||
Standing Instruction | Set-up & Failure | Rs.100 | Std Charges | ||||||
Amendment | Rs.25 | Std Charges | |||||||
TDS Certificate(Duplicate only) | Rs. 200/Request | Std Charges | |||||||
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 | Std Charges | |||||||
Solvency Certificate | Rs. 10000 | Std Charges | |||||||
Confidential Report/Credit Confirmation/ TOD Charges | Rs. 500 | Std Charges | |||||||
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 Service charges will be charged as per agreed Contractual Slab on a monhtly basis | |||||||||
Home Banking (On Call & Beat Service) - Maximum slab avaliable for cash pick up is up to 100 lacs only ( Adhoc / daily ) | |||||||||
Non financial Txn under debit card section includes Balance enquiry , Mini Statement & PIN Change. | |||||||||
Debit Card Transaction eligibilty Five free transactions (inclusive of financial and non-financial transactions) every month from own bank ATMs. From other bank ATMs (inclusive of financial and non-financial transactions) free three transactions per month in metro centres and five transactions in non-metro centres. | |||||||||
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 | |||||||||
**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: | |||||||||
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 |
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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. |