Frequently Asked Questions

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How many Easy Pay accounts can be opened with a Current Account?

There are no limits on the number of accounts that can be opened or linked to a Current Account.

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Does Easy Pay account holder need to maintain a minimum balance?

Account holder does not have to maintain minimum balance individually for each Easy Pay account. However, minimum balance is to be maintained for the Primary Current Account as per the account type and terms agreed by the account holder.

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Are Easy Pay account holders eligible for cheque book facility?

There will be no cheque book facility for these accounts. Only cash withdrawal can be done through Easy Pay Debit Card.

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Can customers carry out international transactions using Easy Pay Debit Card?

Customers cannot carry out international transactions. Only domestic transactions are enabled on Easy Pay Debit Card.

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Is Easy Pay account holder eligible for interest accrual on the balance maintained with their Current Account?

No, Easy Pay account is a current account and not eligible for the interest accrual.

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What is the maximum amount which can be transferred to Easy Pay accounts?

The maximum amount which can be transferred is Rs. 50,000 per transaction.

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Can Easy Pay accounts be opened without having a Current Account?

Customers should have any of the Kotak Bank Current Account to open Easy Pay accounts.

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What are the documents required to open Easy Pay Accounts?

Customers need to duly fill below documents:

  • Resident Non-Individual Account Opening Form
  • Board resolution letter
  • Sole Proprietary / Partners letter

 

Please note:

  • For existing Current Account customers, a full list of directors will be required who’s account is active for more than 6 months with Kotak Bank.
  • For Non-Kotak Bank customers, Current Account Application Form along with full KYC documents will be required.

All documents needs to be signed by the primary account holder, mentioned as per the Mode of Operation (MOP). 

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Who should ideally apply for an Easy Pay account?

This card is suitable for those Current Account customers who are having day-to-day business expenses which are being carried out by their associates or employees. For instance, construction entrepreneurs, commercial vehicle fleet entrepreneurs or businesses with multiple branches.

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