Kotak Cherry
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors
  • Personal
  • Business
  • Corporate
  • Private Banking
  • Privy League
  • NRI Services
  • Investors

Revision in General Schedule of Fees & Charges for Savings and Salary w.e.f 1st June 2022 Click here to know more

Particulars Cherry Savings Account
Average monthly Balance Zero
Funds Transfer NEFT / RTGS / Funds Transfers / IMPS (Through Net / Mobile Banking)# NEFT / IMPS/RTGS: Nil Charges
NEFT / RTGS done through Branch For NEFT: Upto 10000: Rs. 2; 10001 to 100000: Rs. 4; 100001 to 200000: Rs. 14; >200000: Rs. 24.
For RTGS: 200001 to 500000: Rs. 20; >500000: Rs. 40
Cash Transactions Cash Transactions at Branch / Cash Deposit Machine (Deposit or Withdrawal) Nil Charges for 1 transaction or 10,000 / month, whichever is earlier (applicable for both cash deposit and cash withdrawal separately).
Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 50)
Debit Card / ATM Charges (Virtual Debit Card) Issuance / Annual Fee / Replacement Nil charges
Debit Card / ATM Charges (with Physical Debit Card) Classic Debit Card-Annual Fees Or Replacement of Lost Debit Card (Physical Debit card) Rs. 259 p.a. (available on request)
Kotak Bank's ATM Financial Transaction / Non-Financial Transaction* 5 financial Transaction / month @ nil charges, thereafter Financial Txn.- Rs. 21.00 / Txn.
No charge for non-financial transactions
Other Domestic ATMS – Financial Transaction / Non-Financial Transaction## Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of Maximum 3 transactions
@ nil charges in Top 6#+ Cities, thereafter Financial Transaction 20.00 / Txn.
Non-Financial Transaction 8.50 / Txn.
Declined Transactions due to insufficient balance

Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019)
Txn. declined charges Rs. 25 / instance
Cardless cash withdrawal (IMT) Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction
Financial Transaction / Non-Financial Transaction at International ATM + 150 / Txn. for Financial transactions and 25 / Txn for non-Financial transactions
DD / Pay order / Cheque book DD / Pay Order Rs. 4/- per Rs. 1000/- (Min 50 Max 10000)
For senior citizens Rs. 3/- per Rs. 1000/-
FCY DD / TT / Cheque Collection / Revalidation / Cancellation /
FCY Cheque Deposited and Return
At-par Cheque Book Charges Chargeable Rs. 3 per cheque leaf (Available on request and Min 25 leaves in one cheque book when requested via Kotak Mobile Banking App)
ECS / Cheque Issued & Returned (due to non-availability of funds) 500 / instance
ECS Mandate Verification 50/ instance
SI Failure 200.0
Cheque deposited and returned (INR) 200.0
Cheque Issued & Returned for Non-Financial Reason Rs. 50 / instance
Branch Requests Duplicate Ad-hoc statement, Balance & Interest Statement, Foreign Inward Remittance Certificate, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment – Single / Range of cheque thru branch; DD / PO / BC Revalidation / Cancellation( INR); Annual Combined
Statement – Physical; Monthly Physical Statement; Regeneration of PIN-Net Banking/Phone
100 / Request
For senior citizens Rs. 75 / request
Statements & Alerts Statements Email statement @ nil charges (will be sent monthly Email statement by default)
Physical statement @ 100 / Request
Balances and Transaction & Value added alerts (Daily / Weekly) 50 p per SMS (Daily/Weekly)
(available on request)
Other Charges TOD TOD: Rs 500
Cheque purchase Cheque purchase charges: 0.5/1000 (Min 50; Max 10000)
Request for PIN generation/re-generation (sent through courier) Rs. 100/request
##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction.
#+ Top 6 Cities Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs.
*Financial transaction at ATM will include Cash withdrawal, Non-Financial transaction will include balance enquiry, PIN change, Mini statement request.
Transaction and Value Added SMS alerts would be sent to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.
# Indo - Nepal Remittance Scheme (NEFT Charges): If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Nil charges for NEFT done thru Mobile banking / Net Banking.
The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA / Master Card wholesale exchange rate prevailing at the time of transaction.
A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019]
Charges are exclusive of the Goods and Service Tax (GST).
With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time.
State Government Taxes/ Cess as applicable shall be charged.
With effect from September 1st 2019, TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year.
Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350/- per rejection<>
As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.
+Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder.
The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges.
~Any purchase / sale of foreign exchange will attract Service Tax on the gross amount of currency exchanged as per Service Tax on Foreign Currency Conversion Charges (FCY) table below.
Value of purchase or sale of Foreign Currency Value on which GST rate will be applicable
Up to Rs. 1,00,000 1% of the gross amount of currency exchanges or minimum of Rs. 250/-
Above Rs. 1,00,000 to Rs.10,00,000 1000 + 0.50% of the gross amount of currency exchanged less 1,00,000.
Above Rs. 10,00,000 Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs. 60,000/-
Outward Remittances - Individual Standard Charges
Telegraphic Transfer Charges (other than payment for imports) INR 1250 + Tax
Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter) INR 1000 + Tax
Issue of FCY DD's INR 750 + Tax
Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) 0.125 %; minimum INR  1,000 +Tax