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Frequently Asked Questions

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

The minimum Average Monthly Balance requirement in a Pro Savings Account is Rs. 20,000/-.

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Who are eligible to open Pro Savings Account?

To apply for Kotak Mahindra Bank savings account you need to hold any of the following accounts with the Bank:

 

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

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What are the advantages of Pro Savings Account?

It is power packed with lot of features, which are as follows:

  •         Average Monthly Balance (AMB) of Rs. 20,000/-.
  •          Earn up to 6% interest on your savings account balance.
  •          One NMC waived Edge Savings Account for your family member.
  •          Free access to all domestic VISA ATMs.
  •          Free Platinum International Debit Card  for the first year *.
  •          Free Net Banking, Mobile Banking and Phone Banking.
  •          Free cash pick-up/delivery (5 calls per month).
  •          Free instrument pick-up / delivery (5 calls per month).
  •          Free NEFT through Netbanking.
  •          Free cash withdrawals from any Kotak branch across India.
  •          Free cash withdrawals at other domestic ATMs.
  •          Free Demand Drafts.
  •          50 % Discount on first year Demat AMC.
  •          Convert savings account balance above a certain amount into Term Deposits with Kotak ActivMoney.

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In what ways can I track my account?

You have access to a number of channels to track the transactions in your account:

  • Physical account statements are sent quarterly for Edge/Pro/Ace accounts
  • Mini statements through the ATM
  • Email and Mobile alerts
  • Account balance enquiry through SMS
  • View account details & transactions through Net Banking

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What is the rate applicable on the savings account?

Following are the rates:

  • Above 1 Lakh and up to 1 Crores the interest rate applicable is 6% p.a.
  • Up to 1 Lakh, the interest rate applicable is 5.0% p.a.
  • Above 1 Crores, the interest rate applicable is 5.5% p.a.

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