Platina Savings Account FAQs
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Frequently Asked Questions


How is the Average Monthly Balance (AMB) requirement calculated for savings account?

Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.

Please refer the following illustration for the calculation of AMB.

Sample Bank Statement:

Sr. no.





Closing balance


January 1st, 2012

Opening Balance



Rs. 10,000/-


January 10th, 2012

ECS Credit-VD


Rs. 10,000/-

Rs. 20,000/-


January 16th, 2012

Cash Withdrawal

Rs. 5,000/-


Rs. 15,000/-


January 25th, 2012

Cheque Deposit- MICR Clearing


Rs. 20,000/-

Rs. 35,000/-


January 28th, 2012

HPCL Petrol Pump POS 43860000000012

Rs. 1,000/-


Rs. 34,000/-


January 30th, 2012

Cash Deposit Mumbai


Rs. 9,000/-

Rs. 43,000/-


January 31st , 2012

Funds Transfer

Rs. 25,000/-


Rs. 18,000/-

AMB Calculation:

Sr. No.

Time Period


Amount (Rs.)


EOD Balance from January 1st, 2012 to January 9th, 2012

Rs. 10,000/- x 9

Rs. 90,000/-


EOD Balance from January 10th, 2012 to January 15th, 2012

Rs. 20,000/- x 6

Rs. 1,20,000/-


EOD Balance from January 16th, 2012 to January 24th, 2012

Rs. 15,000/- x 9

Rs. 1,35,000/-


EOD Balance from January 25th, 2012 to January 27th, 2012

Rs. 35,000/- x 3

Rs. 1,05,000/-


EOD Balance from January 28th, 2012 to January 29th, 2012

Rs. 34,000/- x 2

Rs. 68,000/-


EOD Balance for January 30th, 2012

Rs. 43,000/- x 1

Rs. 43,000/-


EOD Balance for January 31st , 2012

Rs. 18,000/- x 1

Rs. 18,000/-


Total EOD balances for the month January 2012


Rs. 5,79,000/-


Divide by the no. of days in the month




Average Monthly Balance (AMB)


Rs. 18677.42/-

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What is the minimum Average Monthly Balance (AMB) requirement for an Platina Savings Account?

The minimum Average Monthly Balance requirement in an Platina Savings Account is Rs. 100,000/-

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What is Platina Savings Account?

Platina Savings Account is a power packed savings account that gives you the additional advantage of banking and financial benefits for free.

Let Kotak Platina Savings Account take care of all your savings & investment requirements and ensure that you always get greater financial flexibility. With this exclusively designed savings account you get access to many premium services. So, make your money work harder by converting a part of your savings into fixed deposits or get add-on Debit Cards for your loved ones at no extra cost.

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What are the advantages of Platina Savings Account?

Below are the list of advantages:

  • Average Monthly Balance (AMB) of Rs. 1,00,000/-
  • Earn up to 4% interest p.a. on your savings account balance1
  • Extended Debit Card withdrawal limit of Rs. 2 lakhs per day through ATM / POS
  • Three NMC waived Edge Savings Accounts for family members2
  • Free Platinum International Debit Card
  • Free add-on Platinum International Debit Card
  • Free Net Banking, Mobile Banking and Phone Banking
  • Free cash withdrawals at other domestic ATMs3
  • Free Home Banking up to 10 calls per month4
  • Free Demand Drafts (unlimited at Kotak Bank locations)
  • Free RTGS / NEFT / IMPS
  • No Annual Maintenance Charges on your Demat Account for the first year
  • Free outstation cheque collection
  • Free multi-city cheque books (at par cheque books)
  • Avail a discount of 25% on Locker Rent5
  • Avail a discount of 25% on issuance of Best Compliments Card (Gift cards)
  • Kotak ActivMoney - Converts savings account balance above a certain amount into Term Deposits, so you earn a higher rate of interest
  • Check out additional Kotak Bank Savings Account products by clicking here


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.
2NMC: Non-Maintenance Charge. NMC Waiver is applicable only if the principal Platina Account meets the stipulated Average Monthly Balance requirements.
3Per transaction limit is Rs. 10,000/-.
4Home Banking Service available at limited locations.
5Subject to availability and maintenance of the required AMB in the Platina Savings Account.

All benefits are subject to terms, conditions and exclusions.

Note: If AMB maintained is less than or equal to 75% of the stipulated requirement, Standard charges applicable (irrespective of free limit) for cheque leaf, DD/BC, Decline in ATM/POS transaction due to insufficient balance, Home Banking, Cash Deposit).Additional charges Phone Banking @Rs.50 per call, Classic/ Gold Debit Card @ 25 p.m., Platinum Debit Card @Rs.50 p.m. and Cash Deposit @ Rs. 4 per 1000.

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Who are eligible to open an Platina Savings Account?

To apply for Kotak Mahindra Bank savings account you should belong to any one of the below mentioned categories:

  • Resident Indians (sole or joint account)
  • Hindu Undivided Families (HUF)
  • Foreign nationals residing in India1


1Foreign nationals (resident in India), should obtain an undertaking in form QA 22 duly signed by all the persons (irrespective of nationality) who are authorised to operate on the accounts. Fresh declarations will be necessary in the event of any addition to the list of persons authorised to operate on the accounts. Form QA 22 need not be completed by foreign nationals of non-Indian origin permanently resident in India and foreign nationals of Indian origin (other than those who are residing in India for employment of specified duration irrespective of the length thereof or for a specific job or assignment, the duration of which does not exceed three years) and foreign-born wives of Indian nationals and of persons of Indian origin resident in India.

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