Fees & Charges for Startup Premium Current Account

Please refer the General Schedule of Features and Charges (GSFC) for your Current Account (revised with effect from October 1,2020) Click here

Fees & Charges

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
Demand Draft/ Banker's Cheque	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
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
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; 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	*
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	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
Cash Deposits	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
Cash Withdrawal	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
Kotak ATMs	Cash Withdrawal	Nil	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	20 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	*
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	*
Add-on Card	Annual Fee	250 p.a.	*
Card Replacement	Lost Card	200.0	*
Card Replacement	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
AQB Non - maintenance <>		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
Cheques Deposited & Returned (Outward)	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	*
Cheques Issued and Returned (Inward) & ECS returns	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
Phone Banking	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	*
Weekly	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	*
TT Transfer ~	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	*
Fund Transfer Return <>	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.
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.
**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.
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.
"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.