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Everyday savings account is a one of a kind savings account where you can save while you spend with deals on popular brands such as Zomato, Blinkit, MakeMyTrip, EazyDiner, BookMyShow etc.
Effective Feb 17,2025, daily balances in Savings Account up to Rs. 50 Lakh will earn 3% interest p.a. and above Rs. 50 Lakh will earn 3.50% p.a. respectively. These interest rates are applicable for both Resident and Non Resident Accounts (NRE/ NRO)
To apply for Kotak Mahindra Bank Everyday Savings Account, you should belong to any one of the below mentioned categories:
| Sr. No. | Name of the Document (valid) | Identity Proof | Address Proof |
|---|---|---|---|
| 1 | Passport | Yes | Yes |
| 2 | Driving Licence | Yes | Yes |
| 3 | Aadhaar (Post e-KYC authentication by Bank) | Yes | Yes |
| 4 | Voter Id | Yes | Yes |
| 5 | Job Card issued by NREGA | Yes | Yes |
| 6 | Letter issued by National Population Register | Yes | Yes |
Yes, the everyday savings account charges 6% of the shortfall in required AMB per month (Max upto Rs.600/-)
The benefits of everyday savings account are as follows :
Convert excess savings to term deposits via Kotak ActivMoney
