Retail Institutional Accounts

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Kotak Retail Institutional banking provides innovative products & services to suit the needs of Trusts, Associations, Societies, Clubs, Educational Institutions, Non-Government Organisations (NGOs), Companies governed by the Companies Act, 1956 /2013 which have been licensed by the Central Government under Section 25/Section 8 of the said Act, or under the corresponding provision in the Indian Companies Act, 1913 and permitted, not to add to their names the words 'Limited' or the words 'Private Limited' & Hospitals.
Our tailor made solutions are perfect for managing your collections, payments and borrowings which help in making banking services easy and efficient.
Our extensive network of branches & dedicated relationship managers will help you with a variety of products and services in meeting your financial strategies.
At Kotak, we believe in building long-term relationships that provide unmatched customer service and a wide bouquet of product to our clients. We strive to make banking a memorable experience for you.
We provide one of the best in the industry savings deposit rates with comprehensive and convenient banking solutions.
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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.
Entities eligible to open a Savings Account
#The savings account can be opened by institutions who meet the eligibility criteria, as prescribed by Reserve Bank of India.
*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.
** The Cheque book limit is maximum of 75 leaves per day and for 500 per month
Sr No | Particulars | Trust | Association / AOP / Body Of Individuals | Society | Banks |
---|---|---|---|---|---|
1 | Proof of Identity of the organisation | Certificate of Registration / Proof of Trust deed being registered. | Proof of registration | Certificate of Registration | Registration Certificate |
Trust Deed | Association Deed / Agreement | Society Bye Laws | Attested copy of the Bye-laws & letter from controlling person | ||
PAN Card | PAN Card | PAN Card | PAN Card | ||
2 | Resolution | Board Resolution | Board Resolution | Board Resolution | Board Resolution |
3 | Names of Trustees, Settlors, Beneficiaries, Signatories | Trust Deed or any officially valid document to identify the trustees, settlors, founders, authorised persons holding power of attorney. | Deed / Agreement or any officially valid document to identify the members, authorised persons holding power of attorney. | Copy of members elected as communicated to the registrar of society or AGM/Annexure 4. |
Attested copy of RBI license |
4 | Proof of address of organisation | Registered Trust Deed / Utility Bill (Not less than 3 months old)/10 AC certificate/ Less than 3 months old |
Registered Trust Deed / Utility Bill (Not less than 3 months old)/10 AC certificate/ less than 3 months old Bank statements (Not Coop bank Statement).. | Registered society Bye-Laws / Utility Bill (Not less than 3 months old)/Less than 3 months Bank statements (Not Coop bank Statement). | KYC-AML guidelines as laid down by Reserve Bank of India (Annexure 3) |
5 | Identity & Signature Proof (Authorised Signatories & Settlors) | ID proof of an individual detailed in “ISA Document for Individuals”. | ID proof of an individual detailed in “ISA Document for Individuals”. | ID proof of an individual detailed in “ISA Document for Individuals”. | Attested copy of the bye-laws |
6 | Photograph of all signatories | Compulsory | Compulsory | Compulsory | KYC-AML guidelines as laid down by Reserve Bank of India |