Startup - Premium
Current Account
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Please refer the General Schedule of Features and Charges (GSFC) for your Current Account (revised with effect from October 1,2020) Click here
Please refer the General Schedule of Features and Charges (GSFC) for your Current Account (revised with effect from February 10, 2021 and applicable for Ahmedabad & Kolkata) Click here
| General Schedule of Features & Charges (GSFC) | |||
|---|---|---|---|
| For Start Up Current Account (w.e.f. 1st October, 2020) | |||
| Particulars | Standard Charges (in Rs.) | ||
| Product Name | Start Up Premium | ||
| Average Quarterly Balance (AQB) in Rs. | 100000.0 | ||
| Remittances/Payments: | |||
| Demand Draft/ Banker's Cheque | Payable at Branch Locations | 1/1000 (Min 40 Max 5000) |
NIL Charges up to 100 DD/ BC p.m.; thereafter Std Chrgs |
| Payable at Non- branch Locations | 2/1000 (Min 40 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 |
| NIL Charges | |||
| NEFT** | Applicable only if done in Branch | Upto 10k: 2/txn; >10K to 2L: 4/txn; >2L: 24/txn |
NIL Charges |
| NIL Charges | |||
| IMPS | Upto Rs. 100000: Rs.5 / txn; Rs. 100001 to Rs. 200000: Rs. 15 / txn |
NIL Charges | |
| Fund Transfer | Branch & Net Banking | Nil | 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 cheque leaves p.m., then Std Charges |
| Receipts/ Collections: | |||
| Local Clearing Cheque | Nil | NIL Charges | |
| 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: 25/Chq; >1L: NIL Charges | |
| Out-station Cheque (Cheques drawn on speed clearing branches) |
Nil | NIL Charges | |
| RTGS | Inward | Nil | NIL Charges |
| NEFT | Inward | Nil | NIL Charges |
| Fund Transfer | Inward | Nil | NIL Charges |
| Home Banking: | |||
| On Call Requests | Cash Pick-up or Delivery^ | Up to 2 lacs: Rs 200/- per Req, Rs 2 Lacs to Rs 5 lacs: 400/- per req | * |
| Cheque Pick-up/DD Delivery | Rs 75/- per request | Nil charges up to 3 req per month there after Std Charges | |
| Beat Service | Cheque Pick-up | 500 p.m. | NIL Charges |
| Cash Deposit & Withdrawal: | |||
| Cash Deposits | At Home Branch Location @ | 3/1000 | NIL Charges upto 5 times of prev month's avg credit balance or 10L whichever is higher; thereafter Std Chrgs |
| At Non - home Branch Location | 4.5/1000 Min 50 per txn | NIL Charges upto 3L per month; thereafter std charges | |
| Cash Withdrawal | From Home Branch Location | Nil | NIL Charges |
| From Non - home Branch Location | 2/1000 Min 50 per txn | NIL Charges upto 1L per day; thereafter std charges | |
| Automated Teller Machine (ATM): | |||
| Kotak ATMs | Non Financial Txn | Nil | NIL Charges |
| Cash Withdrawal | Nil | NIL Charges | |
| Other Bank's VISA ATMs - Domestic | Non Financial Txn | 8.50 per txn | NIL Charges |
| Cash Withdrawal | 20 per txn | ||
| Other Bank's VISA ATMs - International | Non Financial Txn | 25 per txn | * |
| Cash Withdrawal | 150 per txn | * | |
| ATM Txns Declined ^^ Transactions declined at merchant outlets/websites/ATMs^^ |
Insufficient Funds | 25 per txn | * |
| Debit Card: | |||
| Primary Card | Issuance Fee | 250 p.a. | NIL Charges |
| Annual Fee (Business Gold) | 250 p.a. | 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 | NIL Charges | |
| Other Charges: | |||
| Account Related | |||
| AQB Non - maintenance <> | Non maintenance charges per quarter (NMC waiver for first 12 Months) |
If AQB < 50% of the required Product AQB | 5000.0 |
| If AQB >=50% but < 100% of the required Product AQB | 3000.0 | ||
| Account Closure Charges | - | <30 Days: Nil; 31 - 181 Days: 3000; >181 Days: Nil | |
| Cheque Returns <> | |||
| Cheques Deposited & Returned (Outward) | Local | 100 per Cheque | Nil charges upto 5 p.m.; thereafter Std Charges |
| Out-station | 100 per Cheque + Corr Bank Chrgs | 50 per Cheque + Corr Bank Chrgs |
|
| Cheques Issued and Returned (Inward) & ECS returns |
Financial Reasons | Upto 3 returns - 350/instance; 4th return onward 750/instance | * |
| Technical Reasons | Nil | NIL Charges | |
| SMS Alerts & Updates | |||
| Balance (Daily/Weekly), Txn & Value Added Alerts | SMS - 25 per Quarter Email - Free |
NIL Charges | |
| Phone Banking | |||
| Phone Banking | IVR Assisted | Nil | NIL Charges |
| Agent Assisted | 25 per Call | NIL Charges | |
| Charges Common for All Products | |||
| Account Statements | |||
| Monthly | Physical/ Email | Physical - 75/quarter; Email - Free | NIL Charges |
| Weekly | Physical | 300 per Quarter | * |
| By Email | Nil | NIL Charges | |
| Daily | By Email Only | Nil | NIL Charges |
| Annual Combined Statement (Physical) | Through Net Banking : Free Through Branch : Rs 85, Through Phone Banking : Rs 110 | * | |
| Ad- hoc Statements Request | At Branch/ Phone Banking | <90 Days: 100 | * |
| 91-365 Days: 200 | * | ||
| >365 Days: 1000 | * | ||
| On Net Banking/ ATM | 50.0 | * | |
| On Mobile Banking | Nil (by email only) | NIL Charges | |
| Standing Instruction | |||
| Set-up | 100.0 | * | |
| Execution | Nil | NIL Charges | |
| Amendment | 25.0 | * | |
| Failure ^^ | 100.0 | * | |
| Statement/ Certificate / Report Issuance | |||
| Balance Statement | Other than 31st March | 100.0 | * |
| Interest Statement | Duplicate Only | 100.0 | * |
| TDS Certificate | Duplicate Only | 200.0 | * |
| Confidential Report | 500.0 | * | |
| Paid Cheque Report | Nil | NIL Charges | |
| Signature Verification | 100.0 | * | |
| Photo Attestation | 300.0 | * | |
| Solvency Certificate | 10000.0 | * | |
| Credit Confirmation | 500.0 | * | |
| Address Confirmation | 100.0 | * | |
| Foreign Currency Payments & Collections | |||
| DD Issuance ~ | 500.0 | * | |
| DD Cancellation ~ | 500.0 | * | |
| DD Revalidation | 500.0 | * | |
| TT Transfer ~ | Corr Bank Chrgs Borne by Beneficiary | 250.0 | * |
| Corr Bank Chrgs Not Borne by Beneficiary | 1000.0 | * | |
| Cheque Collection~ | 500.0 | * | |
| Cheque Deposited and Returned ~ | 1000.0 | * | |
| Cheque Issued and Returned ~ <> | Financial Reasons | 1000.0 | * |
| Cheque Issued and Returned <> | Technical Reasons | Nil | NIL Charges |
| Miscellaneous Charges | |||
| PIN Regeneration | ATM/ Phone/ Net Banking (only if sent through courier) | 50.0 | * |
| DD/BC Cancellation / Revalidation | 100.0 | * | |
| Fund Transfer Return <> | Financial Reasons | 300.0 | * |
| Technical Reasons | Nil | NIL Charges | |
| Cheque Purchase Charges | 0.5/1000 per Day | * | |
| Travelers Cheque Encashment ~ | 1% of TC Amount | * | |
| TOD Charges | 500.0 | * | |
| Stop Payment | Individual or Range | 100.0 | * |
| Mandate Registration Charges (Per Instance) | 50.0 | * | |
| Activation of inoperative Account | Nil | NIL Charges | |
| Record retrieval charges | 100 / Request | * | |
| 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/- | ||
| Please Note: | |||
| * Indicates Standard Charges are 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 entire Low denomination deposit value above Rs 5000 deposit per instance ; Only Rs 10 and Rs 20 notes will be considered. |
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| Non financial Txn under debit card section includes Balance enquiry , Mini Statement & PIN Change. | |||
| 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 , FT = Fund Transfer | |||
| ^ Each On-Call Cash pick up / delivery greater than Rs 5 Lacs will be charged to all Current Account variants / Prima Program customers at Rs 4600 flat per request (plus applicable GST). Such charges will not be subject to any discount applicable to the Account Variant.” | |||
| Currency; 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. | |||
| Home branch location is defined as all the branches belonging to the same clearing zone in which the account is opened. | |||
| 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 being subscribed. |
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| **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 Service Tax on the gross amount of currency exchanged as per Service Tax 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. |
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| 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. | |||
| A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019] | |||
| Annual maintenance charge (AMC) for Easy Pay debit card will be Rs. 250 p.a. and reissuance / replacement fee will be Rs. 200 per card.Unlimited free withdrawal at Kotak ATM and all domestic / international non Kotak ATM transaction will be chargeable for Easy Pay debit card(Rs. 20 per domestic financial transaction, Rs. 8.5 per non-financial domestic transaction, Rs. 150 per international financial transaction and Rs. 25 per non-financial international transaction) w.e.f April 1, 2019. | |||
| <> 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. |
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| "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. | |||
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