Savings Account - Nova Savings Account with Complete Financial Package

Fees & Charges Effective from 01 July, 2017

Particulars		Edge / Nova
Average Monthly Balance (AMB)		Rs. 10,000 / 5,000
^# Applicable also to the various versions of Edge/ Pro/Ace/Platina/Nova /Classic from erstwhile ING Vysya Bank sourced after 31st March 2015. For details of these variants refer footnotes.
Non Maintenance Charge (NMC) - Monthly	If AMB. <=50% of required Product AMB	Rs. 450 / 350
Non Maintenance Charge (NMC) - Monthly	If AMB >50% of required Product AMB but less than product AMB	Rs. 350 / 250
Fund Transfers	NEFT / RTGS / Fund Transfer (Through Netbanking / Mobile Banking)	Nil Charges
	NEFT / RTGS done through branch	For NEFT : Upto 10,000: Rs. 2.50; 10,001 to 1,00,000: Rs.5; 1,00,001 to 2,00,000: Rs.15; > 2,00,000: Rs. 25 For RTGS: 2,00,001 to 5,00,000: Rs. 25; > 5,00,000: Rs. 50
	IMPS	Up to 10,000: Rs. 5; 10,001 to 1,00,000: Rs. 5; 1,00,001 to 2,00,000: Rs. 15
Cash Transactions	Cash Transaction at Branch / Cash Deposit Machine (CDM) (Deposit or withdrawal)	Nil Charges upto 4 transactions or 2 lac / month , whichever is earlier. Post these limits, charged at Rs 3.5 / 1000 (Minimum Rs 150)
Debit Card / ATM Charges	Debit Card Charges	Debit Fees as per Debit Card GSFC tailed below
	Kotak Bank's ATM Financial / Non Financial Transactions	Nil Charges
	Other Domestic ATMS - Financial / Non Financial Transactions ##	Nil Charges upto 5 Transactions; thereafter Rs. 20 / per Financial Transactions & Rs. 8.5 / per Non Financial Transactions
	Declined Transactions due to insufficient balance	Rs.25 / Transaction
	Cash Withdrawal / Balance Enquiry at International ATM +	Rs.150 / Transaction
DD / Pay order / Cheque Book	DD / Pay Order	Rs.2.5 / 1000 (Min 50, Max 10,000)
	FCY DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return	Rs. 500
	At-par Cheque Book Charges	25 Chq leaves Nil Charges / Qtr; Thereafter Rs.3 / cheque leaf.
	ECS / Cheque Issued & Returned (due to non availability of funds)	Rs.500 / instance
	ECS Mandate Verification	Rs.50 / instance
	SI Failure	Rs.100 / instance
	Cheque deposited and returned (INR)	Rs.100 / instance
Branch Requests	Duplicate Ad-hoc statement Balance & Interest Statement Foreign Inward Remittance Certificate, Duplicate Passbook Duplicate TDS Cerificate Through Branch or any other Record Retrieval Stop Payment - Single / Range of cheque thru branch DD / PO / BC Revalidation / Cancellation ( INR); Tax Collection thru branch; Regeneration of Pin ( sent through courier; Annual Combined Statement-Physical; Monthly Physical Statement	Rs. 100 / Request
Home Banking	Cash Or Instrument Pick Up / Delivery	Rs. 150 per visit
Family Banking		NA
Statements & Alerts	Statements	Email Statement (Monthly): Nil Charges; Physical Statement (Quarterly): Nil Charges
Statements & Alerts	Balances and Transaction & Value added alerts (Daily / Weekly)	Daily SMS Rs. 30 / Qtr / Weekly SMS Rs. 15 / Qtr.
Other Charges	TODCheque Purchase charges Account Closure charges: (if closed after 1 month & before 6 months of A/C opening)	TOD: Rs.500; Cheque Purchase Charges: 0.5 / 1,000 (Min 50; Max 10,000); Account Closure charges: 600
Complimentary Services	Passbook (in lieu of Account Statement) Current Year Balance and interest statement Signature Verification Certificate Photo Attestation Address Confirmation	Nil Charges
GST on Foreign Currency Conversion Charges (FCY) ~		Edge/Nova*^
Value of purchase or sale of Foreign Currency	Value on which GST rate will be applicable	SAEDG (Profile Product Code 1027) EDGE SAVINGS ACCOUNT
Up to Rs 1,00,000	1% of the gross amount of currency exchanges or minimum of Rs.250/-	SANOV (Profile Product Code 1026) NOVA SAVINGS ACCOUNT
		SAGED (Profile Product Code 1033) GRAND EDGE SAVINGS ACCOUNT
Above Rs.1,00,000/- to Rs.10,00,000/-	1000 + 0.50% of the gross amount of currency exchanged less 1,00,000.
		SAGNO (Profile Product Code 1032) GRAND NOVA SAVINGS ACCOUNT
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/-
		SAJED (Profile Product Code 1045) MY JUNIOR EDGE SAVINGS ACCOUNT
		SAJNO (Profile Product Code 1044) MY JUNIOR NOVA SAVINGS ACCOUNT

		SASED (Profile Product Code 1039) SILK EDGE SAVINGS ACCOUNT
		SASNO (Profile Product Code 1038) SILK NOVA SAVINGS ACCOUNT
Particulars		Edge / Nova
Debit Card Annual Charges	Classic Debit Card Primary	Rs. 150
	Classic Debit Card Add On	Rs. 150
	Silk Classic Debit Card Primary	Rs. 150
	Gold Debit Card Primary	Rs. 500
	Gold Debit Card Add on	Rs. 500
	Platinum Debit Card Primary	Rs. 750
	Platinum Debit Card Add On	Rs. 750
	World Debit Card (available for ING Vysya Variants Only)	Rs. 750
Other Debit Card Related Charges	Replacement of Lost Debit Card	Rs. 200
	Replacement of Damaged Debit Card	Nil Charges
	Image Debit Card Issuance Charge	Rs. 199
"As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.
##Cash withdrawal limit from other Domestic ATM is Rs. 10,000 per transaction.
Transaction and Value Added SMS alerts would be sent at Nil Charge 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 at Nil 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. 5,000 Rs. 75 per txn & beyond Rs. 5,000 Rs. 100 per txn (incl all taxes).
Savings Nova and Savings Classic are available in Rural and Semi-Urban Branches. Service Charges & AMB requirement for 'Savings Account for Minors without Guardian' & 'Synergy Savings Account' will be same as 'Nova Savings Account'. Service Charges for 'Kotak Composite Savings Account' will be same as 'Ace Savings Account'.
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.
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.
+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.
The above charges are applicable for all states other than Jammu & Kashmir. GST is applicable in the State of Jammu & Kashmir. For charges applicable to Jammu & Kashmir please contact the respective Branch Manager.
<> Penalty charges. Non-maintenance charges (NMC) is not applicable once the savings account becomes inoperative / dormant.
With effect from April 1, 2015: In the event of a default in maintenance of Average Monthly Balance as agreed to between the Bank and customer for the month (referred as Default Month), the Bank will notify the customer clearly of the default and that the Average Monthly Balance for the account has to be met in the subsequent month (referred to as Notice Month). If the AMB is still not maintained in the Notice Month, the NMC (Non Maintenance Charges) for both the Default Month and Notice Month will be recovered in the subsequent month. The Bank may choose to notify by SMS / email / letter. It will be the responsibility of the customer to have a valid email id, mobile number and address updated with the Bank at all times, failing which, customer may not receive the notification/s. The NMC charges will be based on the shortfall observed in the AMB and as specified in the slabs in GSFC. In case of accounts sourced under promotional offering and enjoying conditional NMC waiver, the terms and conditions of such promotional offering shall prevail."

Be ready with following documents while opening this account

(Original for verification and self-attested copies for submission)

Document	Valid Type
Identity Proof	PAN Card, Driving License, Passport, Voter's ID, Aadhaar Card
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)
Signature Proof	PAN Card, Driving License, Passport
Latest Passport Size Photographs (4 copies)

Frequently Asked Questions

What are the advantages of Nova Savings Account?

The advantages of holding Nova Savings Account are:

Average Monthly Balance (AMB) of Rs. 5,000/-
Earn up to 6% interest on your savings account balance¹
Free access to all domestic VISA ATMs, up to five transactions per month²
Free Classic Debit Card for the first year
Free at-par cheque (up to 25 leaves per quarter)
Free Phone Banking, Net Banking and Mobile Banking
Free NEFT (only through Net Banking)
Free IMPS
Free cash withdrawals at Kotak Bank ATMs
Kotak ActivMoney – Converts savings account balance above a certain amount into Term Deposits, so you earn a higher rate of interest

Disclaimers:

Nova/Classic Savings Account is available in Semi-urban/rural branches only.

¹Earn up to 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs. 1 cr. Earn 5% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 1 cr. Applicable for Resident Accounts only. Interest rates are subject to change from time to time.
²Limits apply.
All benefits are subject to terms, conditions and exclusions.