Grand Savings Programme

Grand - Savings Account for Senior Citizens

Grand is crafted with utmost care for the golden years of your life. Built with offerings such as priority service at branches, home-banking facilities, Kotak Rewards upto 1500, discounts on locker rentals, overdraft facilities, health care benefits and more, the Grand Account ensures to make life comfortable as soon as you turn 55 years old.

Attractive Interest Rates

Enjoy attractive interest rates 4%* on your Grand Savings Account and grow your money faster

Kotak Rewards

Experience Kotak Rewards**
feature where you can earn up to
1500 Kotak Reward Points on your Grand Savings Account

Kotak ActivMoney

Convert the balance in your Savings Account above a certain amount into Term Deposits with Kotak ActivMoney and earn additional interest

Cash Delivery

Enjoy doorstep banking services like cash pick-up and delivery, cheque/draft delivery, etc. at your home using Kotak Bank's Grand Savings Account

What are the benefits and privileges of having a Grand Savings Account?

Banking Benefits

Home Banking#
Cash or Instrument pickup/delivery service for you to have a convenient experience.

#For Pro/Classic 2 calls per month and for Ace 5 calls per month are free, beyond which charges are applicable as per GSFC
ActivMoney
You can invest your savings in a Fixed Deposit while enjoying the flexibility of a Savings Account through our ActivMoney~ facility. With ActivMoney the funds from your Savings Account (at a pre-specified threshold limit) can be automatically transferred to a Fixed Deposit. The funds can be moved back into the Account whenever required. You need to opt-in to enjoy benefits of this facility.

~ActivMoney (Auto Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your Current/Savings Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in Current/Savings Account, the TD will be broken prematurely and the required amount will be transferred to Current/Savings Account.

Default Sweep Out and Sweep In for limit for an account variant are the minimum thresholds and one will not be able to opt for limits lower than these. Auto-Sweep out of funds above a pre- specified threshold from Savings to Fixed Deposit will be for 180 days (For NRE accounts it will be for 1 year) and in multiples of Rs. 10,000/- The nomination registered for Saving Account / Current Account will apply for FDs created through ActivMoney. If customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and Conditions guiding the fixed deposit will be applicable to fixed deposits booked under ActivMoney.
Debit Card
The Debit card offers you Purchase Protection^ up to Rs. 1 lakh for all consumer durable goods purchased.

For further details and benefits of your card please click here.
^ Conditions Apply
Easy Bill Payment
Set up AutoPay and pay bills directly from your account. Now you will never have to worry about missing a bill payment.
Overdraft facility
Forget about having to break a Fixed Deposit and losing out on the interest during emergencies. Get money when you need it by opting to get an Overdraft of up to 85% on your Fixed Deposit.
Net Banking and Mobile Banking
With our world-class digital banking solutions and its 180+ features you can bank with ease 24*7. Transfer money, pay bills, recharge your DTH account, book flight tickets and much more through our new-age, user-friendly Net Banking and Mobile Banking app.

Kotak Rewards

Experience Kotak Rewards** feature where you can earn up to 1500 Kotak Reward Points on purchases carried out through your Debit Card and redeem points across categories like groceries, apparel, hotel, dining, shopping etc. T&C Apply.
Rewards details on Debit Card spends are listed below (w.e.f. 1^stJune 2022)

Below are the details of Reward Points:

Minimum Spends per month	Reward Points per month 1 Kotak Reward point=Rs 0.25
Rs. 7,500 - Rs. 15,000	400
Rs. 15,001 - Rs. 25,000	1000
Rs. 25,001 & above	1500

**Rewards are subject to meeting of minimum Spends criteria. Spends should be on domestic and international merchant transactions done on your Debit Cards. The Reward Points will be credited once in a month in your Kotak Rewards Account when the Spends criteria is met. Validity of Reward Points will be 1 year from the date of credit. Details of the same will be communicated through email and SMS. ATM Cash withdrawals are not eligible for rewards.

Exclusive Services

Priority Service and first Aid Card
The Grand Priority Card gets you the preference at our branches. So, no more standing in long queues. This card can also capture all the important details regarding your health status and emergency contacts and acts as a first aid card.
SMS for a call back SMS KGRAND to 5676788 for a call back between 9:30 am -6:30 pm from Monday to Saturday

Other features

Waiver of Annual maintenance charges (AMC) on Demat Account for the first year
25%*discount on locker rental for the first year (applicable for locker allotment in the financial year of enrolling for Grand Programme)

* Terms and conditions apply. Locker subject to availability.
Exclusive offers and discounts on shopping, dining, entertainment and much more. Know more about the latest offers, terms and conditions.

Check your eligibility for the Grand Savings Account.

Key Partners

Disclaimer

1. W.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only.

2. Applicable maximum cashback for Ace Account holders. if the Average Monthly Balance required is maintained and the Debit Card spends criterion is met.

3. Available for Pro, Classic, Ace customers only

@ Year is defined as period of 12 months from 1st January to 31st December for cheque book issuance charges

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/-