Fees & Charges for Grand - Senior Citizen Savings Account
Check the fees and charges for Grand - Senior Citizen Savings Account.

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Grand is crafted with utmost care for the golden years of your life. Built with offerings such as flexibility in balance maintenance, Call back facility with an SMS, complimentary one year membership to GetSetUp, Kotak Rewards, discount on locker rentals, exciting offers and more, the Grand account ensures to make life comfortable as soon as you turn 55 years old.
Avail non-maintenance charge waiver by maintaining adequate Average Monthly Balance or holding FD. Click here to know more
SMS KGRAND to 5676788 for a call back between 9:30 am - 6:30 pm from Monday to Saturday
One year subscription to GetSetUp – a virtual community for senior citizens hosting over 2000 workshops & classes in the fields of yoga, acting, dancing and much more
Experience Kotak Rewards** feature where you can earn up to 1500 Kotak Reward & get exclusive offers
25%*discount on locker rental for the first year (applicable for locker allotment in the financial year of enrolling for Grand Programme)
Enjoy attractive interest rates on Fixed Deposits
What are the benefits and privileges of having a Grand Savings Account?
Below are the details of Reward Points:
Minimum Spends per month |
Reward Points per month |
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 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 and 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 15th of the subsequent month.
Check your eligibility for the Grand Savings Account.
1. Effective July 9th, 2025, daily balances in Savings Account across all account balances will earn 2.50% interest p.a. These interest rates are applicable for both Resident and Non-resident Accounts (NRE/NRO).
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
To apply for a Grand Account, you need to be an Indian resident of age 55 years or above
Check the documents required for opening the Grand Savings Account.
Explore more savings account options that best suit your needs.
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 |
Check the fees and charges for the Grand Savings Account.
Explore more savings account options that best suit your needs.
Grand Savings Programme customers are eligible to avail non-maintenance charge waiver in their savings account if they meet the below criteria w.e.f 1st June 2023
Savings Product Balance Requirement (Grand programme customers only) |
Balance criteria (one of the below) |
|
Savings AMB Requirement (Rs) |
Term Deposit Value (Rs) |
|
Everyday |
10,000 |
50,000 |
Nova |
5,000 |
25,000 |
Edge |
10,000 |
50,000 |
Classic |
10,000 |
50,000 |
Pro |
20,000 |
100,000 |
Ace |
50,000 |
250,000 |
Explore more savings account options for you and your family.
Click Here to know the fees and charges applicable for respective product scheme opted
Calculate how much you need to save to ensure a smooth and comfortable retired life.
You need to make a monthly investment of
to accumulate a corpus of
Retirement planning is the process of managing your finances and investments to ensure a smooth transition from your working years into ‘retirement’ life. It involves setting clear financial goals for your retirement, estimating your post-retirement financial needs, and identifying the amount you need to save to maintain your desired lifestyle even after retiring. You must then plan your investments and allocate your assets as needed to build the required retirement corpus.
If you are not sure about how to begin planning for your post-retired life, you can seek expert assistance from financial retirement planners in India. Alternatively, you can use a retirement calculator to get a clearer picture of how much you need to save for life after retirement.
A retirement calculator is a handy financial tool that can help you estimate the amount of money you need to save to lead a comfortable life after you retire. It simplifies retirement planning for people from all walks of life and makes it easier to understand the financial requirements of post-retirement life.
The best part is that online retirement calculators are now available to everybody free of charge. You need to input a few basic details into this financial tool, and you can see how much you will have to start saving to build the nest egg required for your post-retirement life.
A retirement planning calculator typically has a user-friendly interface, making it suitable even for beginners and those new to retirement planning. You need to enter some basic details like your current age, the age at which you plan to retire and your life expectancy. You then need to submit information about your current income/expenses, how much you have saved for retirement so far, and the expected inflation rate and ROI.
Ensure that you enter realistic and accurate information in the retirement planning calculator. Once you submit the required details, the financial tool will compute the minimum amount you need to save up as your retirement corpus. You can then use this information to create an investment plan accordingly.
Some of the top benefits of using a retirement planning calculator in India are listed below.
Here is a step-by-step guide to help you use the Retirement Fund Calculator from Kotak easily.
Step 1: Enter your current age.
Step 2: Enter the age at which you wish to retire.
Step 3: Enter your life expectancy. Ensure that you use a realistic estimate.
Step 4: Input your current monthly expenses. This includes your fixed and variable costs, as well as your essential and discretionary expenses.
Step 5: Enter the present value of your retirement corpus. This is essentially the amount you have saved up for retirement to date, if any.
Step 6: Enter the expected annual inflation rate. To use a realistic estimate, you can read the news and check what the current inflation rates are.
Step 7: Enter the expected annual rate of returns on your investment.
Once you enter all these details, the financial tool will show you the amount you need to invest each month to accumulate the required retirement corpus.
Yes, a senior citizen can open Grand - Savings Account which is only applicable for Indian residents of age 55 years and above.
You can apply online for the senior citizens savings account or visit our nearest branch with all mandatory documents as listed below.
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 |
If you are looking for a pensioners savings account, then Grand - Savings Programme is the best type of savings account for the pensioners.
To open a senior citizens savings account, following are the mandatory senior citizens savings account documents as listed below.
Sr. No. | Name of the Document | 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 |