Kotak Grand Programme | The perfect Savings Account for you at the age of 55 years & above

Grand Savings Programme

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, cashback up to Rs. 4,500 p.a., 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 up to 4%* on your Grand Savings Account and grow your money faster

Cashback

Cash back up to Rs. 4500² for Grand Savings Account holders

Health Card

Get up to 50% discount on treatments, consultation and procedures using our Priority Card and Indian Health Organisation (IHO) Card³

SMS Alert

Notifications for 15G/H deposition at the quarter beginning and on new FD's booked with our SMS alert services

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.

Cashback

Enjoy cashback* up to Rs. 4500/- p.a. (as per variant) on your Kotak bank debit card spends. Rewards details are as follows:

Key Features	Edge/Nova	Pro/Classic	Ace
Maximum Cashback per month	₹100	₹250	₹375
Maximum cash back in a year	₹1200	₹3000	₹4500
Minimum spends/month	₹7500	₹15000	₹25000

* Cashback is subject to meeting of minimum Average Monthly Balance requirement and spends. The spends should be on domestic merchant transactions using Kotak Debit card. Cashback will be credited in the subsequent month. Details of the same will be communicated through email on the registered email id and SMS on the registered number. ATM Cash withdrawals are not eligible for rewards

Healthcare Benefits

At Kotak, we care about you and your health. Which is why Kotak Grand Account comes with a free membership of Indian Health Organisation. The various benefits of this membership are as follows: -

Unlimited tele / video consultation with trained doctors
Unlimited diet consultations
2nd opinion from doctors/diet consultants
2 Health check-up vouchers
Free online pharmacy voucher worth 250/- of Netmeds
Discount at the registered hospitals^^

^^ Member must call at IHO customer care number to know about the partner list and take appointment.

How to avail this offer – A vHealth member can call at IHO call centre 1800 103 4466 from 8AM to 8PM any day (except national holidays) in order to utilize any service of vHealth (Indian Health Organisation)

For further details, check - https://vhealth.io/terms or contact the IHO call centre @ 011-49394470 / Email: CorporateHelpDesk@IHOMail.com

IHO health card is free for first year and is provided to ACE, PRO and CLASSIC customers only.

Validity- 12 months from the date of issue. Up to two members can be added on the card.

The Bank shall not be responsible for delay or non-delivery of the IHO card or any other services to the customer by IHO. The tie-up with the partner is subject to change.

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
Avoid the hassles of waiting for your turn when you call for assistance. Simply SMS KGRAND to 5676788 and our representative will call you within 30 minutes. This service will be available from Monday to Saturday, between 9:30 am and 6:30 pm.
SMS Alerts
Get SMS alerts for your 15G/H deposition at the beginning of the quarter and when you open a new Fixed Deposit.

Other features

Travel Card: 25% waiver on issuance charges*

*For Privy & Wealth customers
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. May 25, 2020, interest rate on daily balances in Savings Account stands revised as follows: Daily balances in excess of Rs. 1 lakh will earn 4% interest p.a. and daily balances up to Rs. 1 lakh will earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only.

Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.

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

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/-