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Frequently Asked Questions

What is the rate applicable on the savings account?

Following are the rates:

  • Above 1 Lakh and up to 1 Crores the interest rate applicable is 6% p.a.
  • Up to 1 Lakh, the interest rate applicable is 5.0% p.a.
  • Above 1 Crores, the interest rate applicable is 5.5% p.a.

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What is the ActivMoney facility?

Through this facility you can earn a much higher interest on your idle funds in the Savings Bank Account.

The idle funds from your savings account (at a pre-specified threshold limit) are transferred automatically to a term Deposit. The funds move back in to the savings account in case of funds requirements.

The advantages of this facility are:

  •         Higher rate of interest earned.
  •         You need NOT track idle funds regularly & give instructions to the bank to create Term Deposits out of Savings Account balances.
  •         Greater Flexibility & Liquidity as the funds flow back into the Savings Account if the balance in the Savings Account falls below a particular level.

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What is Edge Savings Account?

An Edge Savings Account is a straightforward savings account that combines the best of regular and privileged banking to give you many benefits with limited premium services.

Designed to suit the requirements of the new-age professional, Kotak Edge Savings Account gives you a little bit extra than a regular savings account. So, enjoy free access to all domestic Visa ATMs or carry-out NEFT transactions from your phone, all with one savings account.

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What are the advantages of Edge Savings Account?

The advantages of holding an Edge Savings Account are:


  •          Average Monthly Balance (AMB) of Rs. 10,000/-
  •          Earn up to 6% interest on your savings account balance1
  •          Free access to all domestic VISA ATMs, up to five transactions per month2
  •          Free Classic Debit Card for the first year
  •          Free at-par cheque (up to 25 leaves per quarter)
  •          Free Phone Banking, Net Banking and Mobile Banking
  •          Free NEFT (only through Net Banking)
  •          Free IMPS
  •          Free cash withdrawals at Kotak Bank ATMs
  •         Convert savings account balance above a certain amount into Term Deposits with Kotak ActivMoney

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Who are eligible to open an Edge Savings Account?

To apply for Kotak Mahindra Bank Savings Account, you need to hold any of the following accounts with the Bank:


  •    Resident Indians (sole or joint account)
  •    Hindu Undivided Families
  •    Foreign nationals residing in India

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