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Effective April 25,2025, daily balances in Savings Account up to Rs. 50 Lakh will earn 2.75% interest p.a. and above Rs. 50 Lakh will earn 3.25% 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.500/-)
The benefits of everyday savings account are as follows :
Convert excess savings to term deposits via Kotak ActivMoney
