UNI Student Bank Account

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Revision in General Schedule of Fees & Charges for Savings and Salary w.e.f 1^st June 2022 Click here to know more

Particulars		UNI Salary Account
AMB (Average Monthly Balance)		NA
NMC (Non maintenance charges)		Nil
Fund Transfers	NEFT /RTGS/ Fund Transfer (Through Netbanking/Mobile Banking)	Nil Charges
	NEFT / RTGS - Applicable only if done in Branch	Nil Charges
	IMPS	Nil
Cash Transactions	Cash Transaction at Branch / Cash Deposit Machine (CDM) (Deposit or withdrawal)	Nil upto 10 transactions or 5 lac / month whichever is earlier. Post free limits, charged at Rs. 4.5 / 1000 with minimum Rs. 150
Cash Transactions		Cash deposit free upto Rs. 2 lakh / month. Post free limits, charged at Rs. 4.5 / 1000 (Minimum Rs. 150)
Debit Card - ATM/Micro ATM Charges	Debit Card Charges	Debit Fees as per Debit Card GSFC detailed below
	Kotak Bank's ATM - Cash Withdrawal/ Non financial transactions###	Nil Charges
	Other Domestic ATMS - Cash Withdrawal##/ Non financial transactions###	Nil Charges upto 3 txns(In Top 6 Cities#+) & 5 Txn (Non-Top Cities) per month thereafter Rs. 21 per cash withdrawal & Rs. 8.5 per Non-Financial Txns
	Declined Domestic ATM Transactions due to insufficient balance <>Declined Transactions at ATM, merchant outlets, websites due to insufficient balance <>(w.e.f April 1,2019) ATM/Micro ATMs, due to insufficient balance <>	Rs. 25 / Transaction
	Cash Withdrawal / Non financial transactions ### at International ATM +	Cash Withdrawal: Rs.150 /Transaction Non-Financial: Rs. 25 / Transaction Rs. 25 / non-financial transaction
	Cardless cash withdrawal (IMT)	Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction
DD/ Cheque Book	DD	Nil charges (As covered under overall limit of 30 free customer induced transactions)
	FCY - DD/TT/ Cheque Collection/ Revalidation/ Cancellation/ FCY Cheque Deposited and Return	Rs. 500 / instance
	At-par Cheque Book Charges*#	Nil charges
	ECS/Cheque Issued & Returned (due to non availability of funds)	Rs. 500 / instance
	ECS Mandate Verification	Nil charges
	SI Failure	Nil charges
	Cheque deposited and returned (INR)	Rs. 200 / instance
	Cheque Issued & Returned for Non-Financial Reason	Rs. 50 / instance
Branch Requests	Duplicate Ad-hoc statement, Balance & Interest Statement, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment - Single / Range of cheque thru branch; DD Revalidation; PO / BC Revalidation/ Cancellation (INR); Annual Combined Statement-Physical; Monthly Physical Statement; Regeneration of PIN of Net Banking / Phone Banking (sent through courier)/ DD Cancellation (INR)/ Foreign Inward Remittance Certificate	Nil charges
Home Banking	Cash or Instrument Pick Up/ Delivery	10 Free calls / month, thereafter Rs.150 per visit.Under Home Banking cash pick up services, lower denomination (value equal to or less than Rs. 50 ) notes and coins will not be accepted.
Home Banking	KYC Pickup - Only for senior citizen and differently abled^^	Rs.100 per visit
Family Banking	'3 NMC Waived Family Savings Account
Statements & Alerts	Statements	Email Statement (Monthly): Nil Charges; Physical Statement (Quarterly): Nil Charges
Statements & Alerts	Value added alerts (Daily / Weekly)	50p. per SMS(Daily) & Weekly-Nil
Other Charges	TOD Account Closure charges: (if closed after 1 month & before 6 months of A/C opening)	TOD: Rs.500 Account Closure charges: as per account variant
Debit Card Charges~~
Debit Card Annual Charges~~	Classic / Titanium Debit Card	Rs 259
	Silk Classic / Platinum	Nil Charges
	Gold Debit Card	Rs 500
	Platinum / My World Debit Card	Rs 750
	World / World Exclusive Debit Card	Rs 750
	Default Card	Platinum
	Kotak PVR Debit Card	Rs 499
Other Debit Card related charges~~	Replacement of Lost / Stolen	Rs 200
Other Debit Card related charges~~	Regeneration of PIN (sent through courier)	Nil Charges
Goods and Service Tax (GST) on Foreign Currency Conversion Charges ( FCY)~
Value to purchase or sale of Foreign Currency	Value on which GST rate will be applicable
Up to Rs. 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/-
Foreign Exchange Services ( FES)~
Outward Remittances - Individual	Standard Charges
Telegraphic Transfer Charges (other than payment for imports)	INR 1250 + Tax
Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter)	INR 1000 + Tax
Issue of FCY DD's	INR 750 + Tax
Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account)	0.125%; minimum INR 1,000 +Tax
Please Note
All charges are in Rupees
##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction.
#+ Top 6 Cities Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs.
Mandatory Alerts will not be charged. Alerts 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 been subscribed.
*Year is defined as period of 12 months from 1st January to 31st December for cheque book issuance charges
**Indo - Nepal Remittance Scheme (NEFT Charges): Nil charges for NEFT done through Mobile Banking / Net Banking
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).
All Services, where a free limit is specified, usage beyond the free limit will be charged as per the standard charge of the respective service.
For all value figures k = 1000
<> In the event of a default in maintenance of Average Monthly Balance or regular salary credits as agreed between the bank and customer for the month (referred as ‘Default Month’), the bank will notify the customer clearly of the default and that either salary credit to be sighted or Average Monthly Balance for the account has to be met in the subsequent month (referred to as ‘Notice Month’) else the NMC (Non Maintenance Charges) for both the ‘Default Month’ and ‘Notice Month’ will be recovered
The bank may choose to notify by SMS / email / letter. It will be the responsibility of the customer to have a valid email id ,mobile number and address updated with the bank at all times, failing which, customer may not receive the notification/s. The NMC charges will be based on the shortfall observed in the AMB and as specified in the slabs in GSFC.
Charges applicable for Silk debit card will be same as Classic Debit card. Monthly physical statements will be issued free to account holders on them personally visiting the home branch for the same.
The Bank will charge cross-currency mark-up charge 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] Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350/- per rejection <>
As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.
The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges.
Family Savings Account will enjoy waiver of NMC till such time the linked principal Salary account receive monthly salary credits or maintains the required product AMB. In the event of Principal salary account not receiving salary credit or maintaining the required AMB, the linked Family Savings account should maintain AMB of Rs. 10000. Failing which standard charges of edge account (CS EDGE) would apply in the Family Savings Account.
<> Penalty Charges.
$ 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
Transaction and Value Added SMS alerts would be sent free to the customers who have subscribed for Daily / Weekly Balance Alerts facility.
Alerts 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 been subscribed.
¶ Debit Card charges are subject to salary credit. If salary credit not credited for 3 consecutive months, accounts with > 5 free transactions at other bank ATMs will be downgraded to only 5 transactions irrespective of the corporate offering. Program customers will be excluded from this exercise.
Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change
Debit Card Annual Charges for Junior, Youth and Maestro Debit Cards will be same as Classic Debit card.
Retail ACE account with promo code S2WRC will enjoy NMC discount subject to at least one single credit of Rs.20,000 or more every month through NEFT , or regular monthly salary credit. In case no credit is sighted, Average Monthly Balance of Rs.50,000 needs to be maintained to avail discount on non-maintenance charges. In case no credit is sighted or product AMB not maintained for 2 consecutive months, the account shall be converted to CS EDGE and General Schedule of Fees and Charges for CS EDGE shall be applicable.
Please note that the Cash Pickup/ Delivery charges pertain to the “ Cash Pick-up/ Delivery” service offered to the customer. Additional charges for cash transactions shall be levied basis the Cash Transaction limits offered under the respective variant. The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant.
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
###https://www.india.gov.in/spotlight/unique-disability-id

Be ready with following documents while opening this account

(Original for verification and self-attested copies for submission)

Document	Identity Proof	Residence Proof	Signature Proof	Student Status Proof
Passport	✓	✓	✓	✗
Driving License Valid licence	✓	✓	✓	✗
PAN Card (also refer notes below)	✓	✗	✓	✗
ID Card of Institute / University Or Letter from Institute / University	✗	✗	✗	✓
Valid Photo Credit/Debit Card Issued by any bank. Only if the Photo and Signature are printed on the front of the card. NO COPY OF THE REVERSE OF THE PHOTO CARD TO BE TAKEN	✓	✗	✓	✗
Voter's Identity Card (Election Card)	✓	✓	✗	✗
Ration Card (Only address proof)	✗	✓	✗	✗
Valid ID Documents Card with Photo issued by Govt. Org, PSU, Statutory/ Regulatory Authority, Scheduled Commercial Banks, Public Financial Institutions & Professional Bodies like ICAI, ICWAI, ICSI, Bar Council, etc. to their Members	✓ (If photo included)	✓ (If address included)	✓ (If signature included)	✗
College ID Card Existing and validcard issued by colleges affiliated to universities.Applicable only if a/c with parent/guardian as Joint Holder	✓ (If photo included)	✓ (If address included)	✓ (If signature included)	✗
Marriage Certificate for married women (irrespective of primary or joint or single holder) and not acceptable for husband	✓ (If photo included)	✓ (If address included) (Not to be accepted as address proof of a woman if the account is held singly by her)	✓ (If signature included)	✗
Introductory Reference Customer's Banker except Cooperative Bank - to be obtained by KMBL - IP cheque mandatory from the same account	✓ (If photo verified)	✓ (If address verified)	✓ (If signature verified)	✗
Utility Bill Electricity/Telephone/Mobile/Piped Gas/Water bill/ Broadband bill not more than 3 months old	✗	✓	✗	✗
Letter from Housing Society Only for owners with latest 2 months Maintenance bill	✗	✓	✗	✗
Registered Leave & License Agreement For Tenants	✗	✓	✗	✗
Bank Statement Active Account - signed & stamped or with logo / printed by Bank (internet downloads not accepted)	✗	✓	✗	✗
Bank Statement Bank statement with watermark logo of the issuing bank without the stamp and signature of the authorised bank official, can be accepted if the bank branch address mentioned on the statement and the Self Signed Initial Payment cheque is same. Branch address on the statement preferably to be a printed one. In case of handwritten branch address, same to be signed and stamped by authorised bank official of the issuing bank.	✗	✓	✗	✗
Bank Account Passbook Active accounts of schedule commercial banks only along with the bank seal/ stamp and signature of the bank official. (updated and not more than 3 months old)	✓ (If photo verified by the issuing bank branch then Initial Payment mandatory from the same bank account)	✓ (If address verified)	✗	✗
Sale Deed	✗	✓	✗	✗
Self-signed Cheque or Product AQB (in case the cheque is from a co-operative bank a six month bank statement would also be required)	✗	✗	✓	✗
Wealth/ Income/ Sales/ Service Tax Assessment Order Not more than 6 months old	✗	✓	✗	✗
Introductory reference fromexisting Kotak Bank customer For a No Frills Accounts, existing customer for more than 6 months - a/c conduct satisfactory & introducer knows new customer for 1 year or more	✓	✗	✗	✗
Postal Certificate	✓ (If photo included)	✓ (If address included)	✓ (If signature included)	✗

Please note the Documents are subject to change as per RBI Guidelines

Frequently Asked Questions

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.

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 are the documents required to open a Kotak UNI Student Bank Account?

To open this student savings account you will need a residence proof, an identity proof, a signature proof, and a proof to ensure student status.

How many days does it take to open this student savings account?

Once the Video KYC process is done to open the Kotak UNI Student Bank Account online, it takes less than 24 hours for the account to be activated.

How is the Kotak UNI Student Bank Account different from other student savings accounts in the market?

While the effort has been made to provide the UNI Student Bank Account with class-leading benefits that remain extremely useful even when students take up a job post their course completion, this student savings account also ensure that students develop a strong sense of financial learning. In the future, it will lead to these students becoming individuals who have great understanding and control of their personal finance requirements.

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