Terms & Conditions:
 

Fees mentioned for Debit card are subject to default classification of mentioned scheme codes. In case of upgrade/downgrade/classification change the same will be impacted

As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.

## Cash withdrawal limit from other Domestic ATM is INR 10000 per transaction.

#+ Top 6 Cities - Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs.

Mandatory Alerts will not be charged. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.

Indo - Nepal Remittance Scheme (NEFT fee):

If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): INR 25 per txn (incl all taxes).

If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto INR 5000 - INR 75 per txn. & beyond INR 5000 - INR 100 per txn. (incl all taxes).

All Services, where a free limit is specified, usage beyond the free limit will be charged as per the standard charge of the respective service.

Fee applicable for Silk debit card will be same as Classic Debit card. Monthly physical statements will be issued free to account holders on them personally visiting the home branch for the same.

The Bank will charge cross-currency mark-up charge 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.

A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019]

Any rejections in applications made through ASBA mode due to insufficient funds will attract fee of INR 350/- per rejection <>

+ Additional fee levied by another bank on international ATM transactions will also have to be borne by the card holder.

The above fee are subject to revision with a prior intimation of 30 days to all account holders Closure of account due to revision of fee will not be subject to account closure fee.

<> Penalty fee. Not applicable once the account becomes inoperative/ dormant.

Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change

Please note that the Cash Pickup/ Delivery fee pertain to the “ Cash Pick-up/ Delivery” service offered to the customer. Additional fee for cash transactions shall be levied basis the Cash Transaction limits offered under the respective variant. The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant.

Balance (AMB) as per the product variant to continue with account features and avoid non maintenance Fee. 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 Fee will be based on the shortfall observed in the AMB and as specified in the slabs in GSFC

Fee 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.

State government taxes/ Cess as applicable shall be charged

W.e.f 1st July,2020; threshold as well as Rate of TDS applicable for CASH withdrawal will dependent on submission of proof of Income Tax Return filed. Revised TDS rates will be as under:

Effective 1st Nov, 24 a Dynamic Currency Conversion (DCC) mark-up fee of 1% plus GST will be applicable on your Kotak Bank Debit Card for: transactions done in Indian currency (INR) at international locations or transactions done in Indian currency (INR) with merchants located in India but registered in an international locations. DCC mark-up fee will be applicable on all ATM, POS/In-store or Online transactions

.@If PAN is not updated in the account then the TDS deduction at the rate 20% as per section 206AA of the Income Tax Act will apply. For foreign companies, foreign partnership firms, Non-residents additional surcharge and health & education cess will be applicable as per Income Tax law.

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