Yes. Kotak offers a 3-in-1 account called 'Trinity''. It includes : Kotak Bank Savings Account + Kotak Securities Demat Account + Kotak Securities Trading Account
Prevailing Savings account interest rate on the daily balances is as follows :
A Savings account is a bank deposit account that offers interest on the balance kept in the account. It allows you to secure or withdraw money when the need arises. Banks now a days are offering different types of accounts to cater to the needs of various customer segments with specific benefits and offers. From senior citizens to kids, there is a proposition for everyone.
Interest will be credited in the savings account on quarterly basis.
Pan card is mandatory to open a Savings account if annual income is more than 5L. For cases with income less than 5L, the accounts can be opened with Form 60 as well.
Here are some of the points you need to consider while choosing a Savings Bank account –
Banks across the country are offering Savings account catering to the needs of different customer segments. Here are the types of Savings account available for the customers to choose from –
There are no restrictions like age and income criteria of the individual for opening a Basic Savings Account.
A Savings Account is treated as dormant if there are no transactions in the account for over a period of two years.
You can open a Savings Account in two ways :
Apply in person, at the branch – You need to visit a nearest branch with your KYC documents and place the request for account opening. Branch staff will assist you with the process
Apply online – You can apply for a savings account online through the bank’s website by submitting your KYC and other basic details.
The Kotak Mahindra Grand (Senior Citizen) Savings Account is crafted with utmost care for the golden years of your life. Built with offerings such as priority service at branches, home-banking facilities, cashback up to Rs. 4,500 p.a., discounts on locker rentals, overdraft facilities, health care benefits and more, the Grand Account ensures to make life comfortable as soon as you turn 55 years old.
Average monthly balance is the average of all the closing-day balances in a given month.
AMB = (Sum of closing balances of all days)/(number of days in a month)
To reactivate the dormant Savings account, you need to visit the nearest branch with relevant KYC documents such as, address/photo and signature proof originals and self-attested copies. This will take up to 7 working days from the date you placed a request at the branch.
Cash/Cheque can be deposited in Savings Account by visiting a bank branch and submit the deposit slip along with the Cash or Cheque. You can also deposit Cash or cheque into your Savings account through an ATM.
Below are the different ways of transferring money from one Savings account to another –
Registering on the Kotak Mobile Banking App is very simple.