Everyday Savings Account Eligibility: Check If You Qualify for Exciting Deals and Discounts | Kotak Mahindra Bank
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
Open Online

Eligibility Criteria

To apply for Kotak Mahindra Bank Everyday Savings Account, you should belong to any one of the below mentioned categories:


  • Resident Indian (Sole or Joint Account)
  • Hindu Undivided Families
  • Foreign Nationals Residing in India1

 

Check the fees and charges for the Everyday Savings Account.

Explore more savings account options that best suit your needs.

    Disclaimers

    1 : Foreign nationals (resident in India), should obtain an undertaking in form QA 22 duly signed by all the persons (irrespective of nationality) who are authorised to operate on the accounts. Fresh declarations will be necessary in the event of any addition to the list of persons authorised to operate on the accounts. Form QA 22 need not be completed by foreign nationals of non-Indian origin permanently resident in India and foreign nationals of Indian origin (other than those who are residing in India for employment of specified duration irrespective of the length thereof or for a specific job or assignment, the duration of which does not exceed three years) and foreign-born wives of Indian nationals and of persons of Indian origin resident in India.

Ready to take the next step?

Frequently Asked Questions

icon

What is everyday savings account?

Everyday savings account is a one of a kind savings account where you can save while you spend with every day deals on popular brands. Just do 30 transactions in a month and enjoy freedom from monthly balance maintenance

What is the interest rate offered by an Everyday Savings Account?

For Everyday Savings Account if daily balances in Savings Account is above Rs. 50 lakhs, it will earn 4% interest p.a. Where if the daily balances in Savings Account is up to Rs. 50 lakhs, it will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only.

What are the eligibility criteria to open an Everyday Savings Account?

To apply for Kotak Mahindra Bank Everyday Savings Account, you should belong to any one of the below mentioned categories:
1) Resident Indian (Sole or Joint Account)
2) Hindu Undivided Families
3) Foreign Nationals Residing in India

What documents are required to open an Everyday Savings Account?

The following documents are required to open an Everyday savings account: 1) Identity Proof - Driving License, Passport, Voter's ID, Aadhaar Card
2) Address Proof - Passport, Driving License, Voter's ID, Aadhaar Card, Utility Bill, Bank Statement, Bank Account Passbook (Updated and no more than 3 months old)
3) Signature Proof - PAN Card, Driving License, Passport
4) Latest Passport Size Photographs

Is there any monthly maintenance fee for an Everyday Savings Account?

Yes, the everyday savings account charges 6% of the shortfall in required AMB per month (Max upto Rs.600/-) – which can be waived, on transacting 30*times during the month

What are the benefits of opening an Everyday Savings Account?

The benefits of everyday savings account are as follows :
1) Say goodbye to Non Maintenance Charges - Transact* 30 times a month or maintain Average Monthly Balance of Rs. 20,000/- to get Non Maintenance charges (NMC) waived off.
2) Get a power-packed Debit Card - Enjoy exclusive offers and discounts on your Everyday Rupay Debit Card, every day of the week.
3) Rewards and incentive - Surprise rewards on achieving transaction milestones during the month.
4) Special Offers.on your Birthdays and completion of your anniversary with the bank