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Terms and Conditions

Feature and Benefits

The aforementioned benefits will be available till such time there are salary credits in the primary account. In case of no salary credits, the charges will be applicable as per the General Schedule of Features and Charges (GSFC). For more details, visit https://www.kotak.com/en/gsfc.html ^Family Savings Account will be opened with an initial payment of 10,000.

Investment & Loan Products

Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. #Car Loan is offered by Kotak Mahindra Prime Ltd., a Kotak Group Company. ^ Demat Account is free or the1st year. Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Value Added Services/Other

Get 2 PVR movie tickets on spends of 15,000 or more in a monthly billing cycle on a PVR Kotak Gold Credit Card. Get 1 PVR movieticket on spends of 10,000 or more in a monthly billing cycle on PVR Kotak Platinum Credit Card.

Disclaimer

In case salary is not credited for two consecutive months, you will be required to maintain AMB as per the product variant mentioned above failing which applicable charges will be levied
W.e.f. August 23, 2019, earn 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs 50 lakhs. Earn 4% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 50 lakhs. Applicable for Resident Accounts only.
Family Savings Account with zero maintenance charges. Family savings account will be opened with an initial payment cheque of Rs. 10,000
Office and Home Banking: Cheque Pick Up / Delivery: NIL charges for 10 calls per month; Cash Pick Up / Delivery: 50% of charges up to 1 request per month basis standard charge.
Personal Accident Cover: Classic Debit Card – 2 lakh cover if – Min of 3 transactions of 500 each in last 60 days (only POS/Ecom); Platinum and above Debit Card – Base cover of Rs. 5 lakh if card is used in POS/ECOM in one year with no min transaction and up to Rs. 35 lakh cover if – Min of 5 transactions of 500 each in last 60 days (only POS/Ecom)
Fuel Surcharge waiver on Visa Debit card is capped up to Rs. 30,000 and on Master Debit up to Rs. 20,000 worth of fuel purchases in a calendar month
Personal Loan and Home Loan - The interest rates are subject to change. Credit at sole discretion of Kotak Mahindra Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets
Car Loan and Car Lease disbursement will be subject to complete documentation and credit at the sole discretion of Kotak Mahindra Prime Ltd. Kotak Mahindra Prime is a subsidiary of Kotak Mahindra Bank Ltd. Car Loans available at select locations only
Issuance of credit cards is at the sole discretion of Kotak Mahindra Bank Limited. All features and benefits are subject to Credit Card terms and conditions. Please read the Credit Card terms and conditions carefully provided on the bank website www.kotak.com
Bank account is offered by Kotak Mahindra Bank Ltd., whereas Demat and Online trading accounts are offered by Kotak Securities

Disclaimer - W.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only.

Please note, if your account is currently in dormant status, non-maintenance charges will not be applicable to the same. In order to activate your account, please visit your nearest Kotak Bank branch .

$Year is defined as period of 12 months from 1st January to 31st December for cheque book issuance charges

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