Junior Savings Account

W.e.f. August 23, 2019, earn 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs 50 lakhs. Earn 4% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 50 lakhs. Applicable for Resident Accounts only.

#Debit Cards will be issued to children above the age of 10 years and it will have a daily withdrawal limit of Rs. 5,000/- only.

^NMC waiver is available on bundled offering only (Nova Junior account), as long as the Recurring Deposit or Systematic Investment Plan (SIP) is active, else Average Monthly Balance (AMB) of Rs. 5,000/- is to be maintained and standard charges will be debited on non-maintenance of AMB.

The waiver will not be applicable in case of failure in execution of the SI set towards RD/ SIP, due to insufficient funds in the Junior Account.

Learn more about Kotak Junior Proposition of the Junior Savings Account.

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