Silk Women's Savings Account Exclusive Features

Silk - Women’s Saving Account

The Kotak Mahindra Bank Silk programme provides women with the best of offers in finance, dining, health and lifestyle, empowering them to do more.

Silk Debit Card

Enjoy attractive cashbacks and higher withdrawl limits with Debit Card exclusively for Silk Savings Account

Lockers

Avail 35% discount on locker rentals for the first year with every Silk Women's Savings Account

Payments

Make easy and hassle free online bill payments

Special offers

Use Silk Debit Card to enjoy special offers, discounts, privileges, lifestyle benefits & much more

Account

Get transactional updates of all your accounts in a single account statement

Services

Enjoy doorstep banking services like cash pick-up and delivery, cheque/draft delivery, etc. at your home with Kotak Bank's Silk Savings Account

Financial Privileges

Junior account through linked RD or SIP
For NMC# waiver in Junior Account Minimum monthly RD or MF-SIP instalment value of Rs. 1000/-; Minimum tenure of 36 months. Maximum cap on RD monthly instalment : Rs. 25,000 for tenure up to 120 months / Rs. 1,00,000 for tenure up to 36 months
Discount on Lockers
As a Silk customer, enjoy a special 35% discount^* on Locker rentals for the first year (applicable for Locker allotment in the financial year of enrolling in Silk Savings Programme)
Discount on Best Compliments Card
As a Silk customer, get a 50% discount* on the issuance fee on this card
Higher Debit Card Withdrawal Limits
With our Kotak Silk Debit Card, spend without worry, anywhere, anytime. Enjoy the advantage of higher withdrawal limits with no annual fees on Ace Accounts

Additional features of Kotak Silk Debit Card

Silk POS Limit	Rs. 2,00,000
Silk ATM Withdrawal limit	Rs. 40,000-Domestic Rs. 50,000-International
Lost Card Liability	upto Rs.3,50,000/-
Purchase Protection	upto Rs.1 ,00,000/-
Debit Card Type	Platinum card
Personal Accidental Death Cover Classic Silk Debit Card Platinum Silk Debit Card	Coverage – 2lakh * Coverage up to 50 lakhs*
Lost baggage Insurance	upto Rs. 1,00,000/-
Air Accidental Death Insurance	upto Rs. 50 lakhs

*Click here for terms and conditions
Now get more from the bank as you keep less in the bank. As per the Union Budget 2012 interest earned up to Rs.10,000 from your Savings Account, is now tax free under section 80TTA of the Income Tax Act, 1961.

Average Savings Account balance required to avail of this exemption:

Ordinary account (3.25 % p.a.)	Kotak account (up to 4% p.a.)
Rs. 3.07 lakhs	Rs. 2.5 lakhs

Disclaimers

* Subject to maintenance of Average Monthly Balance in the Silk Account

^ Subject to availability.

# Non Maintenance Charge

With Kotak Mahindra Bank you can avail great offers round the year from our key partners. Choose from offers across categories including restaurants, travel, shopping, electronics, health & wellness, entertainment etc as well as special EMI offers.

To find out the latest offers available on women's savings account click here

Check out additional Kotak Bank Savings Account products by clicking here

Rewards

Up to Rs. 4500/- Cashback¹: With your exclusive Silk Debit Card, enjoy attractive Cashback each time you shop², up to Rs.4500/-³ in a year.
Your Silk Debit Card offers Cashback across all spends^, inclusive of Grocery, Jewellery, Fuel*, Hotel and Dining, Entertainment, Health and Beauty, Apparel
Reward Details on Silk Debit Card spends are listed below (with effect from 1st Apr 2017)

	Edge/Nova	Pro/Classic	Ace
Cashback	Rs. 1200/- per annum / Rs. 100/- per month	Rs. 3000 per annum. / Rs. 250/- per month	Rs. 4500 per annum / Rs. 375/- per month

Criteria to avail rewards on debit card spends³

	Edge/Nova	Pro/Classic	Ace
Min Spend/Month subject to maintenance of AMB for previous month	Rs. 7500/month	Rs. 15000/month	Rs. 25000/- per month

Disclaimers

1Cashback is subject to meeting of minimum Average Monthly Balance requirement & will be credited monthly
2ATM Cash Withdrawals are not eligible for Cashback
3Applicable maximum yearly Cashback for Ace Savings Account Holders. Details of the same will be communicated through email and SMS
*Fuel Surcharge is not waived off. Fuel surcharge amount is not considered as a spend and excluded from computation of Silk Rewards.
^All Spends done offline at POS or online through E-Commerce websites, using Silk Debit Card as the mode of payment will be considered for rewards.

Check your eligibility for the Silk Woman Savings Account.

Explore more savings account options that best suit your needs.

Key Partners

Disclaimer

W.e.f. Jun 19, 2021, daily balances in Savings Account up to Rs. 1 lakh will continue to earn 3.50% p.a. interest. Interest rate of 4% p.a. will be applicable on daily balances in Savings Account over Rs. 1 lakh and up to Rs. 50 lakhs while interest rate on daily balances in Savings Account above Rs. 50 lakhs stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.

Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.

Frequently Asked Questions

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

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.

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.	Date	Narration	Withdrawal	Deposit	Closing balance
1	January 1^st, 2012	Opening Balance			Rs. 10,000/-
2	January 10^th, 2012	ECS Credit-VD		Rs. 10,000/-	Rs. 20,000/-
3	January 16^th, 2012	Cash Withdrawal	Rs. 5,000/-		Rs. 15,000/-
4	January 25^th, 2012	Cheque Deposit- MICR Clearing		Rs. 20,000/-	Rs. 35,000/-
5	January 28^th, 2012	HPCL Petrol Pump POS 43860000000012	Rs. 1,000/-		Rs. 34,000/-
6	January 30^th, 2012	Cash Deposit Mumbai		Rs. 9,000/-	Rs. 43,000/-
7	January 31^st , 2012	Funds Transfer	Rs. 25,000/-		Rs. 18,000/-

AMB Calculation:

Sr. No.	Time Period	Calculation	Amount (Rs.)
1	EOD Balance from January 1^st, 2012 to January 9^th, 2012	Rs. 10,000/- x 9	Rs. 90,000/-
2	EOD Balance from January 10^th, 2012 to January 15^th, 2012	Rs. 20,000/- x 6	Rs. 1,20,000/-
3	EOD Balance from January 16^th, 2012 to January 24^th, 2012	Rs. 15,000/- x 9	Rs. 1,35,000/-
4	EOD Balance from January 25^th, 2012 to January 27^th, 2012	Rs. 35,000/- x 3	Rs. 1,05,000/-
5	EOD Balance from January 28^th, 2012 to January 29^th, 2012	Rs. 34,000/- x 2	Rs. 68,000/-
6	EOD Balance for January 30^th, 2012	Rs. 43,000/- x 1	Rs. 43,000/-
7	EOD Balance for January 31^st , 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		31
	Average Monthly Balance (AMB)		Rs. 18677.42/-