Kotak 811 Edge Savings Account Fees & Charges

Particulars		811 Edge
Average Monthly Balance (AMB)		Rs 10,000
Non-maintenance Charges	Charges for Non-maintenance of minimum monthly average balance	5% of the shortfall in required AMB per month
Fund Transfers	NEFT / RTGS / IMPS (Through Net-banking / Mobile Banking)#	Free
Fund Transfers	NEFT / RTGS done through branch	For NEFT: Upto 10000: 2; 10001 to 100000:4; 100001 to 200000:14; >200000:24. For RTGS: 200000 to 500000:20; >500000:40
Cash Transactions	Cash Transaction at Branch / CDM (Deposit or withdrawal)	Free upto 4 transactions or 2 lac / month, whichever is earlier. Post free limits, charged at Rs. 4.5/- per Rs. 1000/- with minimum Rs. 150
Debit Card / ATM Charges	Platinum Debit Card Annual Fees Or Replacement of Lost Debit Card	Rs 150 p.a. (charges for other cards detailed below)
	My Team/Other Image Debit Card (available on request only)	One time image cost basis selected Image + Rs. 199 Annual charges
	Kotak Bank's ATM Financial Transaction / Non-Financial Transaction*	Unlimited Free
	Other Domestic ATMS Financial Transaction / Non-Financial Transaction##	Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of maximum 3 transactions (incl. financial & non-financial) @ nil charges in top 6 cities (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad), thereafter Financial Transaction – Rs. 20 / transaction and Non-Financial Transaction – Rs. 8.50 / transaction.
	Declined Transactions due to insufficient balance at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019)	Rs. 25 / instance
	Financial Transaction / Non-Financial Transaction at International ATM +	150 / Txn. for Financial transactions and 25 / Txn for non-Financial transactions
	Cardless cash withdrawal (IMT)	Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction
DD / Pay order / Cheque Book	DD / Pay Order	Rs. 4/- per Rs. 1000/- (Min 50 Max 10000) For senior citizens Rs. 3/- per Rs. 1000/-
	FCY DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return	500
	At-par Cheque Book Charges	25 Chq leaves free / Qtr; Thereafter Rs.3 / cheque leaf (Min 25 leaves in one cheque book)
	ECS / Cheque Issued & Returned (due to non-availability of funds)	500 / instance
	ECS Mandate Verification	50 / instance
	SI Failure	100
	Cheque deposited and returned (INR)	100
Requests	Duplicate Ad-hoc statement, Balance & Interest Statement, Foreign Inward Remittance Certificate, Duplicate Passbook, TDS Cerificate Through Branch or any other Record Retrieval, Stop Payment Single / Range of cheque thru branch; DD / PO / BC Revalidation / Cancellation ( INR); Regeneration of Pin sent through courier; Annual Combined Statement Physical; Monthly Physical Statement; Regeneration of PIN-Net Banking/Phone Banking (thru courier).	100 / Request For senior citizens Rs. 75 / request
Home Banking Service	Instrument Pick Up / Delivery	Rs. 150 per visit
Home Banking Service	Cash Pick Up / Delivery
Statements & Alerts	Statements	Email Statement Free: Physical Quarterly Free
	Balances and Transaction & Value added alerts (Daily / Weekly)	50 p per SMS (Daily/Weekly)
		50 p per SMS (Daily/Weekly)
Other Charges	TOD	TOD: Rs. 500
Other Charges	Cheque purchase	Cheque Purchase Charges: 0.5 / 1000 (Min 50; Max 10000)
Home Banking Service	Cash** / Instrument Pick Up / Delivery (Not Valid for Ahmedabad & Kolkata	Rs. 150 per visit
##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.
*Financial transaction at ATM will include Cash withdrawal, Non-Financial transaction will include balance enquiry, PIN change, Mini statement request.
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.
# 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). Nil charges for NEFT done thru Mobile banking / Net Banking.
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.
Charges are exclusive of the Goods and Services Tax (GST).
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]
With effect from July 1, 2017 the effected 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.
With effect from September 1st 2019, TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year.
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.
+Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder.
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.
Debit Card Annual Charges	Classic Debit Card Primary	150
	Classic Debit Card Add On	150
	Silk Classic Debit Card Primary	150
	Gold Debit Card Primary	500
	Gold Debit Card Add on	500
	Platinum Debit Card Primary	150
	Platinum Debit Card Add On	750
	World Debit Card (available for ING Vysya Variants Only)	750
	Replacement of Debit Card	200
~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 below.
Value to purchase or sale of Foreign Currency	Service Tax Amount w.e.f. June 01, 2016
Up to Rs. 1,00,000	1% of the gross amount of currency exchange 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/-
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

Check the documents required for opening the 811 Edge Savings Account.

Frequently Asked Questions

How is the Average Monthly Balance (AMB) requirement calculated for savings account?

Average Monthly Balance is calculated by dividing the sum of all ‘End of Day’ balances in a month by the number of days in that month.

Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.

Please refer the following illustration for the calculation of AMB.

Sample Bank Statement:

Sr. no.	Date	Narration	Withdrawal	Deposit	Closing balance
1	January 1^st, 2012	Opening Balance			Rs. 10,000/-
2	January 10^th, 2012	ECS Credit-VD		Rs. 10,000/-	Rs. 20,000/-
3	January 16^th, 2012	Cash Withdrawal	Rs. 5,000/-		Rs. 15,000/-
4	January 25^th, 2012	Cheque Deposit- MICR Clearing		Rs. 20,000/-	Rs. 35,000/-
5	January 28^th, 2012	HPCL Petrol Pump POS 43860000000012	Rs. 1,000/-		Rs. 34,000/-
6	January 30^th, 2012	Cash Deposit Mumbai		Rs. 9,000/-	Rs. 43,000/-
7	January 31^st , 2012	Funds Transfer	Rs. 25,000/-		Rs. 18,000/-

AMB Calculation:

Sr. No.	Time Period	Calculation	Amount (Rs.)
1	EOD Balance from January 1^st, 2012 to January 9^th, 2012	Rs. 10,000/- x 9	Rs. 90,000/-
2	EOD Balance from January 10^th, 2012 to January 15^th, 2012	Rs. 20,000/- x 6	Rs. 1,20,000/-
3	EOD Balance from January 16^th, 2012 to January 24^th, 2012	Rs. 15,000/- x 9	Rs. 1,35,000/-
4	EOD Balance from January 25^th, 2012 to January 27^th, 2012	Rs. 35,000/- x 3	Rs. 1,05,000/-
5	EOD Balance from January 28^th, 2012 to January 29^th, 2012	Rs. 34,000/- x 2	Rs. 68,000/-
6	EOD Balance for January 30^th, 2012	Rs. 43,000/- x 1	Rs. 43,000/-
7	EOD Balance for January 31^st , 2012	Rs. 18,000/- x 1	Rs. 18,000/-
	Total EOD balances for the month January 2012		Rs. 5,79,000/-
	Divide by the no. of days in the month		31
	Average Monthly Balance (AMB)		Rs. 18677.42/-