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Frequently Asked Questions

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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What is the ActivMoney facility?

Through this facility you can earn a much higher interest on your idle funds in the Savings Bank Account.

The idle funds from your savings account (at a pre-specified threshold limit) are transferred automatically to a term Deposit. The funds move back in to the savings account in case of funds requirements.

The advantages of this facility are:

  •         Higher rate of interest earned.
  •         You need NOT track idle funds regularly & give instructions to the bank to create Term Deposits out of Savings Account balances.
  •         Greater Flexibility & Liquidity as the funds flow back into the Savings Account if the balance in the Savings Account falls below a particular level.

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

Average Monthly Balance (AMB) means that you do not have to maintain any minimum balance in your savings account.

 The balance in your account can even go down to zero on any given day. Average Monthly Balance is calculated by dividing the sum of all "End of Day" balances in a month by the number of days in that month. Thus this provides you added flexibility to use the available funds in your account.

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 Sanman Savings Account?

Sanman Savings Account is a unique proposition bundled together to cater banking needs of Rural India.

It ensures faster & secure access to all banking needs at low maintenance. Enjoy free access to all domestic Visa ATMs or carry out Fund transfer, NEFT, IMPS or pay your utility bill all with one savings account.

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What are the advantages of Sanman Savings Account?

The advantages of holding Sanman Savings Account are:


  •         Average Quarterly Balance of Rs. 2000
  •          Earn up to 6% interest on your savings account balance
  •          Free cash withdrawals at Kotak Bank ATMs
  •          Free access to all domestic VISA ATMs
  •          Daily ATM cash withdrawal limit Rs. 50,000
  •          Enhanced daily purchase limit of Rs. 1,50,000
  •          Free at-par cheque
  •          Free Phone Banking, Net Banking & Mobile Banking
  •          Free NEFT
  •          IMPS (Standard Charges Apply)
  •          Kotak ActivMoney - Convert savings account balance above a certain amount into Term Deposits, so you earn a higher rate of interest

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