Kotak Pro Plus Account
The perfect current account for an ever-growing small or mid-sized business.
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As a small or mid-sized business, you have a plethora of things to always keep in mind. But with the Kotak Mahindra Pro Plus Account, you can rest assured that your banking and financial requirements won’t be one of them. Experience multiple banking benefits with manageable balance requirements, and enjoy privileged banking services tailored for a growing business or enterprise.
Average Quarterly Balance
of Rs. 50,000/-
Daily purchase limit of Rs. 1.75 lac
and daily ATM cash withdrawal
limit of Rs. 50,000/-
Current account balance converts
to Term Deposits, to help earn
attractive returns on idle balances
Unsecured overdraft facility
up to Rs. 15 lacs for short term
Payable at non-Kotak Bank
branch locations (up to 50 per month)
1 250 cheque leaves free per month. Thereafter, standard charges apply.
2 Free up to 8 times of previous month's average credit balance or Rs. 7.5 Lakh, whichever is higher.
3 Free up to 10 requests per month, maximum 1 per day (thereafter, standard charges apply).
4 Conditions apply. Available in select locations only. Credit at the sole discretion of Kotak Mahindra Bank Ltd. and is subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing the loan assets.
5 Services will be offered at Bank's discretion.
6 Offered through third party tie-ups.
Please Note: Kotak Pro Plus CA can be opened at Mumbai/Delhi/Kolkata /Chennai/Mysore/Vijaywada/ Ahmedabad branch locations onlyAll the features and benefits are subject to terms, conditions and exclusions. Please refer to the General Schedule of Features and Charges for detailed charges.
The Kotak Mahindra Pro Plus Current Account can be opened as a single or joint account, and requires an initial deposit of Rs. 50,000. The minimum Average Quarterly Balance (AQB) requirement for Kotak Pro Plus Current Account is Rs. 50,000.
This account is available to the following:
|Particulars||Plus Current Account Product Variants|
|Product Name||Kotak Pro Plus|
|Average Quarterly Balance (AQB) in Rs.||50000.0|
|AQB Non-maintenance per quarter3||AQB < 50% of the required Product AQB||4000.0|
|AQB >=50% but < 100% of the required Product AQB||2500.0|
|Particulars||Free Limit||Charges Above Free Limit / Standard Charges (In Rs.)|
|Key Transaction Charges|
|Cash Deposits||Home Branch Location2||NIL Charges upto 8 times of prev month's avg credit balance or 7.5 L whichever is higher; thereafter Std Chrgs||3/1000|
|Non Home Branch Location||NIL Charges upto 1L per month; thereafter std charges||4.5/1000 Min 50 per txn|
|Home Branch Location -Accounts with OD facility and Debit Balance||2 times of previous month’s Avg OD Utilization or Avg Debit Balance||3/1000|
|Cash Withdrawal||Home Branch Location2||NIL Charges||Nil|
|Non - home Branch Location||NIL Charges upto 50K per day; thereafter std charges||2/1000 Min 50 per txn|
|Cheque Collection||Local / Anywhere||NIL Charges||Nil|
|Out-station Cheque- Drawn at Kotak Branch Locations||NIL Charges||<10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq|
|Out-station Cheque-Drawn at Kotak Non - branch Locations||<10K: 50/Chq; 10K - 1L: 25/Chq; >1L: NIL Charges||<10K: 50/Chq; 10K - 1L: 100/Chq; >1L: 150/Chq|
|Out-station Cheque- Speed Clearing Branches||NIL Charges||Nil|
|Payable at par Cheque Book||NIL Charges upto 200 cheque leaves p.m., then Std Charges||Upto 500 leaves/p.m.- 2/leaf.;
Above 500 leaves/p.m.- 3/ leaf
|RTGS - Branch||Payment||*||2 - 5 L: 25/ txn; > 5 L: 50/ txn|
|NEFT - Branch1||Payment||*||Upto 10K: 2.5/txn;
>10K to 2L: 5/ txn;
2 - 5 L: 25/ txn; > 5 L: 50/ txn
|IMPS||Payments||*||Upto Rs. 100000: Rs.5 / txn;
Rs. 100001 to Rs. 200000: Rs. 15 / txn
|Fund Transfer||Payment & Collections||NIL Charges||Nil|
|Demand Draft/ Banker's Cheque||Payable at Branch Locations||NIL Charges upto 50 DD/ BC p.m.; thereafter Std Chrgs||1/1000 (Min 40 Max 5000)|
|Payable at Non- branch Locations||*||2/1000 (Min 40 Max 5000)|
|Home Banking||On Call Request-Cheque Pick-up/DD Delivery/Cash Pick-up or Delivery||NIL Charges upto 10 request p.m. (Max 1/Day) thereafter Std Charges||Cheque/DD - 75/Request
Cash - < 2L: 200/Request; 2-5L: 400/Request
|Beat Service-Cheque Pick-up||NIL Charges||500 p.m.|
|Automated Teller Machine (ATM)|
|Kotak ATMs||Non Financial Txn / Cash Withdrawal||NIL Charges||Nil|
|Other Bank's VISA ATMs - Domestic||Non Financial Txn||NIL Charges upto 5 txn per month; thereafter std charges||8.50 per txn|
|Cash Withdrawal||20 per txn|
|Other Bank's VISA ATMs - International5||Non Financial Txn||*||25 per txn|
|Cash Withdrawal||*||150per txn|
|ATM Txns Declined3||Insufficient Funds||*||25 per txn|
|Primary Card||Issuance Fee||NIL Charges||250 p.a.|
|Annual Fee (Business Gold)||NIL Charges for 1st Year
thereafter Std Chrgs
|Annual Fee (Business Platinum)||*||750 p.a.|
|Add-on Card||Issuance Fee||*||250.0|
|Annual Fee||*||250 p.a.|
|Card Replacement||Lost Card||*||200.0|
|Damaged Card||NIL Charges||Nil|
|NetBanking transactions are Free:
-No Charges for undertaking NetBanking transaction of RTGS & NEFT payments / Fund Transfer / Annual Combined statement requests / online tax payment (e-Tax)
|Physical||Weekly||*||300 per Quarter|
|Monthly||NIL Charges||75 per Quarter|
|Daily / Weekly / Monthly||NIL Charges||Nil|
|Annual Combined Statement (Physical)||*||Branch : Rs 85,
Phone Banking : Rs 110
|Ad- hoc Statements Request||Branch/ Phone Banking||*||<90 Days: Rs. 100|
|*||91-365 Days: Rs. 200|
|*||>365 Days: Rs. 1000|
|Net Banking/ ATM||*||50.0|
|Mobile Banking||NIL Charges||Nil (by email only)|
|Alerts / PhoneBanking|
|Balance (Daily/Weekly) Alerts,
Txn & Value Added Alerts (Per subscriber)4
|*||SMS - 20 p.m.|
|Phone Banking||IVR / Agent Assisted||NIL Charges||Nil|
|Closure / Cheque Return Charges|
|Account Closure Charges||Rs.600 for Customer Induced closure request|
|Cheques Deposited & Returned (Outward)3||Local||NIL Charges upto 5 p.m.||100 per Cheque|
|Out-station||50 per Cheque + Corr Bank Chrgs||100 per Cheque + Corr Bank Chrgs|
|Cheques Issued and Returned (Inward) & ECS returns3||Financial Reasons||*||500/instance|
|Technical Reasons||NIL Charges||Nil|
|Bulk Transaction charges||Includes RTGS/NEFT (through Branch),Local/outstation clearing,Cash deposit/withdrawal,FT||Nil charges upto 125 Txn p.m;thereafter std charges||10 per Txn|
|PIN Regeneration||ATM/ Phone/ Net Banking (only if sent through courier)||*||50.0|
|Balance Statement||Other than 31st March||*||100.0|
|Interest Statement||Duplicate Only||*||100.0|
|Signature Verification / Address Confirmation / DD/BC Cancellation / Revalidation||*||100.0|
|TDS Certificate||Duplicate Only||*||200.0|
|Confidential Report / Credit Confirmation / TOD Charges||*||500.0|
|Paid Cheque Report||NIL Charges||Nil|
|Online Tax Payment (E Tax)||Branch||*||100 per request|
|Cheque Purchase Charges||*||0.5/1000 per Day|
|Stop Payment||Individual or Range||*||100.0|
|Mandate Registration Charges (Per Instance)||*||50.0|
|Activation of inoperative Account||NIL Charges||Nil|
|Record retrieval charges||*||100 / Request|
|Abbreviations Used: For all value figures L = Lakhs & K - Thousand; Prev = Previous; Chq = Cheque; Std = Standard; Chrg = Charge; Txn= Transaction; p.m.=per month;|
|p..a.= per annum; Avg= Average;FCY= Foreign Currency; Corr = Correspondent; TOD = Temporary Overdraft; w/o = without ; FT = Fund Transfer|
|* Indicates Charges above free limit applicable|
|1 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)|
|2 Home branch location is defined as all the branches belonging to the same clearing zone in which the account is opened.|
|3 Indicates penalty charges|
|4 SMS Alerts Facility|
|- Transaction and Value Added SMS alerts would be sent free to the subscribed user for Daily / Weekly Balance Alerts|
|- Alert 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.|
|5 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.|
|will have to be borne by the card holder|
|Coin Deposit charges : "Nil Charges" upto deposit value of Rs 50 ; Beyond Rs 50 per instance, 5% on amount 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.
|Non financial Txn under debit card section includes Balance enquiry , Mini Statement & PIN Change.|
|I)' "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.|
|II) 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.
|III) The above charges are applicable for all states other than Jammu & Kashmir. GST is applicable in the state of Jammu & Kashmir. For charges applicable to Jammu & Kashmir,|
|please contact the respective Branch Manager.|
|IV) All charges are subject to revision with a prior intimation of 30 days to account holders. Closure of account due to revision of charges will not be subject to account closure charges.|
|Instruction for filling Account Opening Form
|ID Documentation for Non individual Entities
|Public or Private Limited Companies:||
|Limited Liability Partnership signatories||
|Trusts / Association / Society/ Club||
|Address Proof Documentation for Non individual Entities
|Basic Common Documentation for Proprietor/Partner/Authorised Signatory
|Beneficial Owner (BO) details to be obtained for Pvt. Ltd/Limited Company and Partnership Firm/LLP
Note: This is not an exhaustive list. In case of non-availability of the above documents, please contact your bank official for a complete list of acceptable documents.
Even a business started for non monetary goals in mind, needs organized approach to sustain.