Exclusive Features - The Grand Savings Account

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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, 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

Earn FD like interest in your Savings Account with ActivMoney, click here to know more

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
Kotak ActivMoney
Earn FD like interset rate upto 7% with your Grand Savings Programme. Sweep in Sweep out limit as per variant. Click here to know more.
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 and maintaining average monthly balance . Spends should be on domestic merchant transactions using Debit Card. The reward points will be credited every month for the previous calendar month in your Kotak Rewards account. Validity of reward points will be 1 year from the date of credit. Details of the same will be communicated through email on registered email id or SMS on registered number. ATM cash withdrawals are not eligible for Rewards. Accrued Reward Points for the last month’s spends will be available in Kotak Rewards Portal latest by 5th of the subsequent month

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

Can a senior citizen open a savings account?

Yes, a senior citizen can open Grand - Savings Account which is only applicable for Indian residents of age 55 years and above.

What is the minimum balance for senior citizen savings account?

As per account variant selected

Where can I open a senior citizen account?

You can apply online for the senior citizens savings account or visit our nearest branch with all mandatory documents as listed below.

1) Identity Proof - Driving License, Passport, Voter's ID, Aadhaar Card*
2) Addres 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
5) Please carry the original documents for verification and self-attested copies for submission.
6) PAN Card / Form 60 will still be a mandatory document for opening a Savings Account.

What is the best savings account for pensioners?

If you are looking for a pensioners savings account, then Grand - Savings Programme is the best type of savings account for the pensioners.

What documents required for senior citizen savings account?

To open a senior citizens savings account, following are the mandatory senior citizens savings account documents as listed below.

What is the interest rate for senior citizens savings bank account?

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

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Grand - Savings Account for Senior Citizens