Startup - Regular
Current Account
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Average Quarterly Balance
of Rs. 50,000/-
Daily purchase limit of Rs. 1.75 lacs
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
business requirements2
Free demand drafts payable
at Kotak Bank branches
(up to 50 per month)
1 Free for up to five times the previous month's average credit balance or Rs 500,000, whichever is higher.
2Conditions apply. Available at select locations only. Credit is at the sole discretion of Kotak Mahindra Bank Ltd., and is subject to guidelines issued by the RBI periodically. The bank may engage the services of marketing agents for sourcing loan assets.
3 Services will be offered at the bank's discretion.
All the features and benefits are subject to terms, conditions, and exclusions. Please refer to the 'General Schedule of Features and Charges'.
Salary account - Corporate salary account for start-up employees with a minimum criteria of five employees and average salary of Rs 25,000.
Every business needs a set of services that form its backbone. Avail these services at special rates negotiated for Kotak Bank only:
The list below is indicative, and based on the availability of the concerned service providers:
For more details click here
The above services are provided by third-party service providers and not by Kotak Mahindra Bank, and the Bank does not endorse / guarantee / offer warranty on any of these third-party services and does not provide any service commitment with respect to any of the offers / services made by these third-party service providers. The Bank is just providing information by mentioning these services, purely for the convenience of its customers, and the Bank is a mere facilitator of these services provided, and shall not bear any liability or obligation if the customers avail these services from these third-party service providers. The Bank does not earn any commission or fee upon its customers viewing or availing of these services from the third-party service providers. If any customer chooses to avail of any of the services, the Bank shall not be a party to, or be concerned with any of the services, or be responsible for any act of omission / negligence/ deficiency of services or unacceptable service levels on the part of the third-party service providers. It is understood that by availing of any of these services, the customer so availing, deals with the third-party service providers directly. The customer is free to avail such services from any other service provider.
This account requires an initial deposit of Rs 50,000. The minimum Average Quarterly Balance (AQB) requirement for Kotak Start-Up Current Account is Rs 50,000. The date of incorporation / registration of business should not be more than two years before the date of account opening.
The Kotak Start-Up Current Account is available for the following:
| Particulars | Standard Charges (in Rs.) | ||
|---|---|---|---|
| Product Name | Start Up Regular | ||
| Average Quarterly Balance (AQB) in Rs. | 50000.0 | ||
| Remittances/Payments: | |||
| Demand Draft/ Banker's Cheque | Payable at Branch Locations | 1/1000 (Min 40 Max 5000) |
NIL Charges up to 50 DD/ BC p.m.; thereafter Std Chrgs |
| Payable at Non- branch Locations | 2/1000 (Min 40 Max 5000) |
* | |
| RTGS | Through Branch | 2 - 5 L: 25/ txn; > 5 L: 50/ txn |
NIL Charges |
| Through Net Banking | NIL Charges | ||
| NEFT** | Through Branch | Upto 10k: 2.5/txn; >10K to 2LL: 5/txn; >2L: 25/txn |
NIL Charges |
| Through Net Banking | NIL Charges | ||
| IMPS | Upto Rs. 100000: Rs.5 / txn; Rs. 100001 to Rs. 200000: Rs. 15 / txn |
* | |
| 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 200 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 | Cheque Pick-up/DD Delivery/ Cash Pick-up or Delivery |
Cheque/DD - 75/Request Cash - < 2L: 200/Request; 2-5L: 400/Request |
NIL Charges up to 8 request p.m. (Max 1/Day) thereafter Std Charges + Registration Fee Rs.250 p.a. |
| 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 5L whichever is higher; thereafter Std Chrgs |
| At Non - home Branch Location | 4.5/1000 Min 50 per txn | NIL Charges upto 1L 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 50K 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 upto 5 txn p.m ; thereafter std 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^^(w.e.f April 1,2019) |
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 | 2500.0 |
| If AQB >=50% but < 100% of the required Product AQB | 1500.0 | ||
| Account Closure Charges | - | <30 Days: Nil; 31 - 181 Days: 1500; >181 Days: Nil | |
| Cheque Returns <> | |||
| Cheques Deposited & Returned (Outward) | Local | 100 per Cheque | Nil charges upto 3 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 |
* | |
| 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 | |||
| Bulk Transaction charges | Includes RTGS/NEFT (through Branch),Local/outstation clearing,Cash deposit/withdrawal,FT | 10 per Txn | Nil charges upto 125 Txn p.m;thereafter std 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 | |
| Online Tax Payment (E Tax) | Through Net Banking | Nil | NIL Charges |
| Through Branch | 100 per request | * | |
| 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 | |||
| 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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| 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. | |||
| 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. | |||
| Instruction for filling the account-opening form |
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| ID documentation for non-individual entities: |
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| Public or Private Limited Companies: |
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| Partnership Firms: |
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| Limited Liability Partnership signatories |
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| Proprietorship Concerns |
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| Address proof documentation for non-individual entities: |
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| Basic common documentation for proprietor / partner / authorised signatory |
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| Beneficial Owner (BO) details to be obtained for private limited / limited company and partnership firm / LLP |
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Note: This is not an exhaustive list. In case the documents listed above are not available, please contact your bank official for a complete list of acceptable documents.
An industry that has so much competition that it is difficult to survive. But that may change if you know the tricks of the trade.
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