Healthcare Finance Solutions FAQs

Frequently Asked Questions

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What is Micro ATM?

Micro ATM is a mini version of an ATM. Micro ATMs are like modified point of sales terminals this terminal can connect to banking network via GPRS to perform banking transactions. This machine contains card swipe facility. This initiative aims to bridge the gap between the need and availability of cash requirement in the eco-system.

This initiative aims to bridge the gap between the need and availability of cash requirement in the eco-system.

What is Google Pay?

Google Pay is secure and easy-to-use mobile payment service which can be used to make purchases and payments nearly everywhere.

How to open the Kotak UNI Student Bank Account?

You can open a Kotak UNI Student Bank Account digitally, from anywhere, thanks to the Video KYC feature. It involves getting on a video call with a Kotak bank executive to complete your KYC process, essentially ruling out a visit to a Kotak bank branch completely.

Can I get any benefit if I am an existing Kotak Bank current account or savings account customer?

Yes. We offer preferential interest rate, faster processing & doorstep service to existing bank customers while taking our business loan.

Can I get any benefit if I am an existing Kotak Bank current account or savings account customer?

Yes. We offer preferential interest rate, faster processing & doorstep service to existing bank customers while taking our business loan.

What is Kotak 811?

Kotak 811 is a new age bank account offered by Kotak Mahindra Bank.

You can open a Kotak 811 account by downloading the Kotak Mobile Banking App or by visiting www.kotak.com and registering using your Aadhaar number (optional) ,PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.

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Can I have both Non Resident and Resident Savings Account?

No, a person can either have a Resident saving account or Non-Resident accounts (NRE /NRO)
 

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What is Kotak Debit Card EMI?

Debit Card EMI is the program offering EMI schemes to Kotak Bank customers who shop with their Debit Cards. Bank provides pre-approved limits to customers based on their relationship with the Bank and based on the Bank’s credit policies. Customers who enjoy pre-approved limit from the Bank can avail No Cost EMI and regular EMI by transacting with their Kotak bank Debit Card in selected stores.

What is the eligibility criterion to avail Personal Accident Insurance cover on my RuPay India Debit Card?

Eligibility criteria:

The claim under Personal Accident Insurance shall be payable only if the card holder has carried out at least one transaction i.e. at a Merchant Establishment/ATM /ecommerce /Micro ATM/Business Correspondent of the bank at locations, within 90 days for RuPay Classic card prior to the date of accident including accident date. The Personal Accident Insurance (Death and Permanent Total Disability) would be an Open policy for any kind of accident leading to death or disability.

What is Forex Card?

The Forex Card is a Chip based pre-paid card introduced in association with Visa. It is the first card to offer you the option of loading up to 13 currencies in a single card in a convenient and secure way.

This card gives you the freedom to shop anywhere in the world and provides access to the currency of your destination at competitive market rates.

It can be used at all VISA ATMs and merchant establishments accepting VISA Cards worldwide except for a few countries which are listed in FAQ (2)
 

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How do I make payment towards my Credit Card bill?

You can choose to pay your Credit Card dues using the following options: WebPay, Mobile Banking, Net Banking, Auto Debit,/NACH, Cheque or Cash Payment at Kotak Bank Branches.

Refer the modes of payment section for more information on Credit Card Payments.

How do I check whether my Kotak Debit Card is enabled for International payments?

You can check your International enabled status as below:

  • Login to Kotak Mobile Banking App
  • In ‘Service Requests’ select ‘Debit Card’
  • Choose ‘Card Control’
  • Scroll and select your Debit Card Number
  • Choose International/Domestic Controls
  • International Usage should be On

If your card is not ON, you can enable it by switching it ‘On’

Alternatively, you can also enable your International payments by visiting Kotak Net Banking page. Simply follow the steps mentioned in the “How to enable” section.

 

What is Kona Kona Cricket?

Kona Kona Cricket is a platform that allows anyone to support their favourite team, participate in cricket trivia quizzes to earn reward points. Anyone who has a MyTeam card will also be able to earn points for the transactions that they do on their MyTeam cards.

What is a personal loan eligibility calculator?

The personal loan eligibility calculator is an online tool that helps you estimate the maximum loan amount you can receive based on your eligibility parameters.

How many Easy Pay accounts can be opened with a Current Account?

There are no limits on the number of accounts that can be opened or linked to a Current Account.

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What are the different categories of bill payments available?

Bill payments available on Kotak BillPay are for the following categories:

  • Electricity bill
  • Gas bill
  • Mobile post-paid bill
  • Water bill
  • Mobile Prepaid & DTH recharge
  • Insurance premium
  • Credit card bill
  • Landline & Internet bill

How do I avail a Payday Loan?

This product is available to pre-approved customers. 

PayDay loan can be instantly availed by logging onto Kotak Mobile Banking application or Net banking. 

How do I register on the developer platform?

Registration is simple!

  • Click on Register and complete the Personal Information form.
  • Accept the Term and Conditions and then click Next Step.
  • Fill out the Additional Information form and then click “Register Now” button.
  • Your request will be shortly approved by the admin


Note
: The Kotak Developer Connect Portal does not permit registration of duplicate organization names. As a result, after the first developer from an organization has registered an account with the portal, subsequent developers from that same organization require an invitation to be registered.


Registering as a new Developer (also becomes the organisation admin).

How is loan against property eligibility criteria decided?

Your LAP eligibility depends on your current and future prospects, both financially as well as physically. Lenders tend to issue loans to those who are most likely to repay them successfully.

How do they assess this?

Your credit score, previous debts, income proof, and work record: all of these are helpful documents deemed necessary during the loan assessment.

What is FASTag?

FASTag is a device that uses Radio Frequency Identification (RFID) technology for making toll payments directly from a prepaid account linked to it. It is affixed on the windscreen of a vehicle. It enables user to drive through toll plazas without stopping for cash transactions. FASTag has a validity of 5 years and needs to be Recharged / Top-up as per transaction requirement.

Once, the tag is scanned, a prepaid account linked to the tag is automatically debited for the corresponding amount. The linked account can be topped up/recharged as required.
 

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Can I open a DEMAT Account with my Savings Account?

Yes. Kotak offers a 3-in-1 account called 'Trinity''. It includes : Kotak Bank Savings Account + Kotak Securities Demat Account + Kotak Securities Trading Account

What are the key documents required for Kotak Bank's Personal Loan?

The key documents required for availing a personal loan from Kotak Mahindra Bank are as follows -

  • Identity proof like PAN Card, voter’s ID card, passport, Aadhaar card, etc.
  • Age proof like voter’s ID card, passport, Aadhaar card, birth certificate, etc.
  • Address proof like utility bills, rent agreement, passport, etc.
  • Bank statement and salary slips of the last 3 months
  • 2-3 Passport size photographs

What is Home Loan EMI?

Home loan EMI is a systematic and easy approach towards home loan repayment. EMI stands for equated monthly installment, which includes principal amount, and the interest payable divided through the tenure chosen. Home loan borrower has to make the repayment of the loan each month in the form of home loan EMI.

What is JioPay?

JioPay is a mobile based payment application available only on Jio Phones that you can use for payments at any contactless merchant terminal. Customer can enroll Kotak VISA Credit/Debit Cards on Jio Phone to make transactions.

What is “Subscription/ Recurring Payment”?

Subscription/Recurring Payment is a payment method under RBI’s e-mandate guideline, where you register your Kotak Bank Credit/Debit card on a merchant’s app/website. Once registered, your payments get automatically debited at pre-defined intervals. 

How can I apply for this card?

If you are an existing Kotak Mahindra Bank customer, you need to have a Savings or Salary account with us to apply for this card. 

You can apply by clicking “APPLY NOW” in the banner above. 

What is Liberalised Remittance Scheme (LRS)?

Under the Liberalised Remittance Scheme (LRS), all resident individuals (as defined under FEMA 1999), including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both. 

Under the Liberalised Remittance Scheme (LRS), all resident individuals (as defined under FEMA 1999), including minors, are allowed to freely remit up to USD 2,50,000 per financial year (April – March) for any permissible current or capital account transaction or a combination of both.

It is mandatory for the resident individual to provide his/her Permanent Account Number (PAN) for all transactions under LRS.

What is JioPay?

JioPay is a mobile based payment application available only on Jio Phones that you can use for payments at any contactless merchant terminal. Customer can enroll Kotak VISA Credit Cards on Jio Phone to make transactions.

What is Samsung Pay?

Samsung Pay is secure and easy-to-use mobile payment service which can be used to make purchases nearly everywhere.

 

What is Kotak 811?

Kotak 811 is a new age bank account offered by Kotak Mahindra Bank.

You can open a Kotak 811 account by downloading the Kotak Mobile Banking App or by visiting www.kotak.com and registering using your Aadhaar number (optional) ,PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.

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Is my UPI handle enabled for IPO payments?

Click on the SEBI link  to check the list of handles, apps & banks enabled for UPI transactions for IPO.

What is a Credit Card?

A credit card is a transactional card that enables the holder to make purchases of goods and services or withdraw advance cash on credit. It is issued by banks and financial institutions to bring convenience of payment. Credit cards act as a micro loan tool where the individual makes purchases under the condition of paying off the same within a specific time period. There are no interest payouts if the due amount is paid within a specific time (interest-free period). A custom borrowing limit is pre-set by the issuer and this determines the maximum amount of credit a user can spend from a credit card. Credit card brings users the opportunity to save big through discounts and deals, making it a popular choice.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Ahmedabad?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Coimbatore?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Nagpur?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts. 

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Hyderabad?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Pune?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Surat?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Mumbai?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. 

In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts. 

 

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Bangalore?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Delhi?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Kolkata?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Indore?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Chennai?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Jaipur?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

What is Kotak Mahindra Bank's Personal Loan Interest Rate in Kerala?

Personal loan interest rate at Kotak Mahindra Bank starts at as less as 10.25% per annum. In some cases, however, it can be charged at 10.75% per annum. For Kotak bank account holders attractive benefits, discounts and offers are available on personal loan. Furthermore, if the applicant already has another personal loan with a different bank, they can opt for a personal loan balance transfer to avail lower rates of interest with Kotak Bank and consolidate their debts.

Should I pay my credit card in full?

Yes, you should pay your credit card bill in full. If you make a part payment, you will incur interest charges on the outstanding amount. 

Moreover, you would not be able to avail of an interest-free credit period in the next billing cycle.

What is the Restructuring Scheme?

The economic fallout on account of the Covid-19 pandemic has led to significant financial stress for individuals and business entities across the country. 

RBI, therefore, provided a framework to banks & lending institutions for implementation of resolution plans for addressing the financial stress of such customers, who otherwise have a good track record, but due to Covid-19 pandemic, whose  debt burden has become disproportionate  to their cash flow generation abilities. Basis regulatory guidelines and request from  the customer, the bank has decided to restructure loan/s of eligible individuals and business entities that have been impacted due to the pandemic subject to meeting internal norms/ credit assessment and regulatory prescriptions.

What is Kotak’s personal loan interest rate?

Kotak offers personal loans at a reasonable interest rate starting from 10.75% p.a. However, the rate may vary depending upon a customer’s profile, income, previous credit record, among other factors.

Why should I select a Kotak Credit Card?

Kotak Credit Cards symbolize the following guiding principles:

Simplicity

Kotak Credit Cards are simple to understand and use. We have taken special care to make them hassle free so that you can spend time on more important things in life that require your attention.

Transparency

Kotak Credit Cards are transparent in communicating upfront what the Card offers and what you would have to spend for it, if at all. We have taken care that there will be no hidden charges associated with this Card.

Relevance

Kotak Credit Cards have understood what you need the most from your credit Card, and have been designed to give you only those benefits that are most relevant for you.

This promise from Kotak ensures that you only get the best from your credit Card!

How to calculate the interest rate on Loan Against Property?

With the help of Kotak Mahindra Bank’s Loan Against Property EMI Calculator, you would be able to get a rough estimate of the amount you would be paying every month in return for your loan.

The calculator will help you readjust your loan tenure and the principal amount by giving you a near-perfect answer on the actual installment. Here is a link to the calculator. 

Can a subscriber open more than one NPS account?

No

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How to use a personal loan EMI calculator?

To use the PL EMI calculator, you would have to provide three important details: the loan amount, the repayment tenure, and the interest rate. 

Once you enter this information, the personal loan EMI calculator will show the EMI instantly.

 

 

What are the processing fees charged by Kotak Bank for Personal loans?

Kotak Mahindra Bank charges a processing fee of up to 2.50% of the loan amount for its personal loans. An additional GST is also payable on the processing fee.

What are the fees and charges for the Grand Account?

Grand Savings Account is available in different variants. The charges differ as per the type of account. To know more about Fees and Charges for Grand Account, check the Fees and Charges page.

What are the fees and charges for the Grand Account?

Grand Savings Account is available in different variants. The charges differ as per the type of account. To know more about Fees and Charges for Grand Account, check the Fees and Charges page.

What are the fees and charges for the Grand Account?

Grand Savings Account is available in different variants. The charges differ as per the type of account. To know more about Fees and Charges for Grand Account, check the Fees and Charges page.

How to use a loan against property EMI Calculator?

You can use Kotak Mahindra Bank’s loan against property EMI Calculator to derive your monthly installments. Here is the link to our mortgage loan EMI calculator.

All you have to do is type in the loan amount you want to seek. Make sure that this amount is well-reasoned and within the range of 80% of your property’s market valuation. The next step would be to choose your preferred rate of interest. Post that, you can fill in the loan tenure you are seeking.

Click on “Submit”, and we will give you the answers in a blink! The number derived will be the approximate installment amount.

Please note that factors like your CIBIL Score, age, and the property’s information can influence the final cost.

 

What can loan against property be used for?

Loan Against Property is primarily taken for the purpose of Business Expansion,

 Purchase of Machinery, Debt Consolidation, Funding your other business requirement.

In which currency can I maintain RFC Fixed Deposit?

Your RFC Fixed Deposit can be maintained in permitted currencies such as USD, GBP, JPY, SGD, AUD and EURO.

How do I apply for a new Smart EMI Scheme?

For this, you can visit the nearest store where Kotak  Smart EMI has a tie up.  Click here to find the store near you.

Who can avail Kotak Healthcare Equipment Loan?

Hospitals, Laboratories, Diagnostic Centre's, Nursing Homes, Clinic's or Self-employed Doctor's can avail a Healthcare Equipment Loan.

What is Google Pay?

Google Pay is secure and easy-to-use mobile payment service which can be used to make purchases and payments nearly everywhere.

Why should I opt for Home Loan Balance Transfer?

The Home Loan Balance Transfer Process comes packed with several benefits. It helps you transfer your outstanding loan amount from your current lender to a new lender with lower interest rates and better terms. It also offers a transfer of your home loan to another bank to avail a top-up loan on your existing loan.

How to access 'Pay your Contact' feature?

You can access this feature under Quick Access section of Kotak Mobile Banking App or through Kotak Mobile Banking App -> Payments Section (present in bottom menu) -> Send Money

This feature is available only for Kotak Mobile Banking App users.

How fast is a BHIM UPI transaction?

Transactions using BHIM UPI are instant and are completed within seconds.

What are the processing fees for a loan against property?

The processing fee is a one-time non-refundable fee charged for the services provided to process the loan. It is payable at the time of application, and most banks in India charge 1-2% of the total loan amount as processing fees.

At Kotak Mahindra Bank, we charge 1% + GST + statutory charges in processing fees.

 

Can I get a loan against property (LAP) without income proof?

You can easily get a LAP if you show finances that are well-equipped to repay the loan. So, if you do not have income proof, you would need to explain how you plan to repay the loan.

You can present bank statements if you have surplus funds or instruments like insurance papers, investments, etc., which provide some assurance to the bank. Moreover, the lender may ask you to discuss the lack of income sources and whether you plan on remedying that. 

Chances of securing a low interest rate become dim without proper income proof. An income proof assures the lender that you are in a position to repay. However, it is possible to get a loan without but at a higher interest rate. 

 

What is the rate applicable on the savings account?

Following are the rates applicable for Kotak Mahindra Bank Savings Account ( w.e.f. April 20, 2020):

  • Interest rate on daily balances in Savings Account above Rs. 1 Lakh stands revised at 4.5% p.a.
  • Daily balances up to Rs. 1 Lakh will continue to earn 3.75% interest p.a.
  • The interest rates mentioned are applicable for Resident Accounts only

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What is Interest Subvention scheme & who all are covered for this benefit?

Interest Subvention scheme is offered by GOI to Micro, Small & Medium enterprise (MSME’s) 2018

What are the Best Credit Cards offered?

Kotak Mahindra Bank offers a range of credit cards ranging from premium cards to lifestyle cards. 

You can choose lifestyle-oriented credit cards, fuel cards, co-branded cards, shopping or entertainment-oriented credit cards, or travel credit cards based on your spending habits. 

What is Kotak MyImage Credit Card?

Kotak MyImage Credit Card is a personalized image card that allows you to choose a design of your choice from the offered digital library, specially curated by the Bank for its cardholders. This personalization will not change the benefits or the base card variant, which you are currently holding. For e.g. If you hold a Kotak Royale Signature Credit Card and choose to personalize it with a Taj Mahal image (Image Code A009), you will continue to enjoy all the existing features of your Royale Signature Credit Card.

What is a Mutual Fund?

Mutual fund (MF) is a mechanism for pooling money by issuing units to the investors and investing funds in securities in accordance with objectives disclosed in the offer document.

Investments in securities are spread across a wide cross-section of industries and sectors and thus the risk is diversified because all stocks may not move in the same direction in the same proportion at the same time. Mutual funds issue units to the investors in accordance with the quantum of money invested by them. Investors of mutual funds are known as unitholders.

Investors in proportion to their investments share the profits or losses. Mutual funds normally come out with a number of schemes, which are launched from time to time with different investment objectives. A mutual fund is required to be registered with the Securities and Exchange Board of India (SEBI) before it can collect funds from the public.

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What is Kotak MyTeam Image Debit Card?

As a sports enthusiast here’s a Debit Card to fulfil your sports cravings this season. If you like to binge watch your favorite sports channels / apps, show off your new sneakers, or have fun exercising using fitness apps, here’s a card which is made for you. See your favorite players or team logo every time you perform transactions. This card comes with only VISA services.

Can I transfer money from my credit card to my bank account?

A direct transfer from your credit card to your bank account is not possible. But with the help of intermediaries like BHIM Kotakpay account, you can transfer the amount from your credit card to your UPI wallet and then to your Kotak bank account. 

Although this is not common practise, in some situations this might be helpful. Discretion is advised. 

What can a personal loan be used for?

You can use the personal loan for any financial need that you have. The loan is a multipurpose loan that can be used for varying needs like marriage, medical expenses, travel, etc. 

How does the bank determine the APF number?

Developers and builders interested in receiving an APF number on their project submit the relevant property and legal documents to banks for verification. They also submit all the necessary clearances received from the Government authorities.

The bank, then, checks all the documents and clearances. After the bank is convinced of the project’s authenticity and legality, it determines the APF number.

What are the RBI guidelines on saving a card on an online merchant?

As per RBI mandate, starting July 01, 2022, sensitive customer information like complete card number, CVV & Expiry date or any other sensitive information related to cards cannot be stored by merchants for processing online transactions. The merchants will have to remove all details stored, by June 30, 2022.

They will be allowed to store the customer’s card details only through tokenization post taking an AFA (Additional factor authentication, eg: OTP) from the customer. This means that as per the new guidelines, you can now safely secure your card details using tokenisation while you shop with the online merchants.

 

What is the address of the registered office of the Company?

The address of the registered office of the company is: 

27 BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051

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Where can I use my Kotak Konnect Card?

You can use your Kotak Konnect Card for payment at any of the 800,000+merchant establishments across India, where RuPay cards are acceptable.

How will this work?

The Micro ATM Machine is operated by an agent that will include a card reader for all cash withdrawal and balance enquiry transactions from all bank domestic debit cards.

Which devices are compatible with Google Pay in India?

All devices with Android 5.0 (Lollipop) or higher are compatible to use Google Pay App for making merchant payments via Credit Cards. Currently, Apple Phones do not support adding Credit Card to Google Pay app.

Google Pay App is available on Google Play Store and App Store.

What are the steps involved in opening the Kotak UNI Student Bank Account online?

In the Video KYC process, you have to fill up your details online. After you fill up all the required details, the Kotak bank executive will carry out basic checks over video interaction. The agent will guide you through the entire process. Just have your original documents, a blank paper, and a blue/black pen handy. Once this Video KYC is done, you will have a fully-functional Kotak UNI Student Bank Account within 24 hours.

What is the minimum turnover requirement for a Business Loan?

For availing Kotak’s business loan, the minimum turnover required is Rs.40 Lakhs.

What is the minimum turnover requirement for a Business Loan?

For availing Kotak’s business loan, the minimum turnover required is Rs.40 Lakhs.

What are the features of Kotak 811?

811 is a fully loaded Digital Bank Account brought to you by Kotak Mahindra Bank. Below are the key features of your 811 account: 

  • Interest rate: Earn up to 4.5%* interest p.a. on your savings account balance
  • No Minimum Balance: Enjoy banking with no balance commitment
  • Virtual Debit Card: Shop online with ease using your virtual debit card
  • Free funds transfer: Transfer funds online for free using NEFT or IMPS or RTGS
  • Physical Debit card: Request a physical card through Net-banking or Mobile Banking App and get it for Rs.199+applicable GST per annum

Daily balances in Savings Account up to Rs. 1 lakh continue to earn 3.50% p.a. interest. W.e.f. Dec 11, 2020, interest rate of 4% p.a. will be applicable on daily balances in Savings Account over Rs. 1 lakh and up to Rs. 1 crore while interest rate on daily balances in Savings Account above Rs. 1 crore stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.

Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.

 

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What are the permissible credits in a NRE account?

  • Proceeds of remittances to India in any permitted currency

  • Proceeds of personal cheques drawn by the account holder on his foreign currency account and of traveller’s cheques, bank drafts payable in any permitted currency including instruments expressed in Indian rupees for which reimbursement will be received in foreign currency. These instruments deposited by the account holder in person during his temporary visit to India, provided the authorized dealer/bank is satisfied that the account holder is still resident outside India
  • Proceeds of foreign currency/ bank notes tendered by account holder during his temporary visit to India, provided
    • The amount was declared on a Currency Declaration Form (CDF), where applicable, and
    • The notes are tendered to the authorised dealer in person by the account holder himself and the authorised dealer is satisfied that account holder is a person resident outside India
  • Transfers from other NRE / FCNR accounts
  • Interest on Government securities and dividend on units of mutual funds, provided the securities/ units were purchased by debit to the account holder's NRE/ FCNR account or out of inward remittance through normal banking channels
  • Maturity proceeds of Government securities including National Plans/ Savings Certificates as well as proceeds of Government securities and units of mutual funds sold on a recognized stock exchange in India; sale proceeds of units received from mutual funds provided the securities/units were originally purchased by debit to the account holder’s NRE/FCNR account of the account holder or remittance from outside India through normal banking channels

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Where can I shop and avail Debit Card EMI (DC EMI)?

The program is available across 27,000 merchant outlets / stores including all major retail chains like Vijay Sales, Croma, Reliance Digital, Sargam Electronics, Sathya Agencies, Vasanth & Co., Tirupati Electronics, Bajaj Electronics and many more. You can shop for your favorite home appliances, electronics, mobile phones, laptops, etc. using the DC EMI program. Click here for the list of stores where you can avail DC EMI using your Kotak Debit Card.

If the incident occurs in a timeline of 0-90 days of issuance of the RuPay India Debit Card, thereby not giving a window of the 90 days qualifying criteria for doing a transaction in order to be eligible for the insurance benefit, is the Cover still valid?

Yes, as an exception in such cases the cover is still valid and claim can be intimated

Will I be able to use my Forex Card across the World?

Forex Card will work across the world other than the countries mentioned below:

Iran, North Korea, Cuba, Syria, Crimea region, Afghanistan, Venezuela, India, Nepal, Bhutan.

 

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I do not hold a Savings/Current Account with Kotak, how do I pay my credit card bill?

You can pay your bill using our Web Pay service or pay via website

 

 

WebPay link - https://pgi.billdesk.com/pgidsk/pgmerc/kotakcard/kotak_card.jsp

(On selecting this link, the disclaimer pop up must appear and customer must be directed on selecting accept to webpay page

OR

Click here to view and pay your Credit Card bill 

Your payment will be credited within 3 working days

Will I be charged for enabling the International usage?

No.

However, currency conversion charges and ATM withdrawal charges will be levied wherever applicable.

Please click here for detailed charges. 

How do I register on Kona Kona Cricket?

You can visit the MyTeam card page on the Kotak website and register on Kona Kona Cricket. If you are a MyTeam Card holder, you would receive an email or an SMS with a link to register on the platform. Once registered, you will not be able to de-register yourself.

How to use a personal loan eligibility calculator?

You can visit Kotak Mahindra Bank’s website and use the personal loan eligibility calculator. Just fill in the details required in the calculator, and you will be able to check your eligibility for the loan amount.

Does Easy Pay account holder need to maintain a minimum balance?

Account holder does not have to maintain minimum balance individually for each Easy Pay account. However, minimum balance is to be maintained for the Primary Current Account as per the account type and terms agreed by the account holder.

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How do I register a new biller for payment?

Simply login to your Kotak Mobile Banking app or Net Banking, click on “Bill Pay/Recharge” & select “Add/Manage” option. Then click on “Add Biller” option & enter your biller details & click on “Submit”. Your biller will be registered successfully. In case of any further query, you may contact the call centre or visit the nearest branch also.

What is payday loan @Kotak?

Payday Loan is a term loan, offered for one month, pre-approved at 50% of your net salary, and offered to salary account holders of Kotak. No paperwork required and instant disbursal.

What are the personal & additional details required for registration on the Developer Platform?

Tab

Description

Personal Information

Complete the personal information fields, with all the required fields.

Please keep the following points in mind:

  • Ensure that the email address is entered correctly, as a notification will be sent to that address for the Developer to activate the approved account.
  • The username must be unique.
  • The disclaimer check box must be selected.
  • All fields with an asterisk (*) must be completed in order to access the other tabs. Alternately, you may proceed to step 2, below.

Additional Info

This tab records information about the Developer’s organization as well as any custom information requested by the Portal for registration.

 

  • Organization Name: Optionally enter the name of the Developer’s organization. This will appear as the Organization Name on the Kotak Developer Connect Portal. If left blank, the username with “_org” will be used as the Organization Name.
  • Organization Description: Optionally enter a description about the organization. This will appear as the Organization Description on the Kotak Developer Connect Portal. If left blank, the username will be used in the Organization Description.



How much LAP amount am I eligible for?

While the amount depends on the bank you apply with, Kotak Mahindra Bank gives up to 80% of your property’s market value as a loan.

What are the benefits of using FASTag?

The following are the benefits of using a FASTag:

  1. FASTag is an electronic toll collection system, operated by the NHAI. It consists of a sticker with RFID that gets read by the tag reader at the plaza and the toll amount gets deducted automatically for the linked wallet. This replaces cash transactions thus saving on time taken to exchange cash. 
  2. FASTag is now a mode of payment at select parking lots across the country.  This results in quicker payments at parking lots.

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