Open a NRE Platina Savings Account by Kotak Mahindra Bank

Non Resident Indian

Documentation for Non Resident Indian, while submitting the account opening form / documents at Kotak Bank Branches in India:

Photocopy of Indian Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

Documentation for Non Resident Indian, while sending the account opening from / documents overseas:

Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (the visa could be either in the passport or given separately); and
Proof of Mailing Address (local or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

The above documents mentioned under a, b and c needs to be attested by:

An overseas bank official located and operating in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Bahrain, Qatar, Kuwait, Oman, Saudi Arabia, UAE, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and USA only. OR
Any Branch of an Indian Scheduled Commercial Bank having overseas branch OR
Notary Public or Equivalent Authority OR
The Indian diplomatic mission in the applicant’s country of residence OR
Self-Attestation. In case of Self Attestation, all documents submitted should be signed by respective account holders with the words ‘TRUE COPY’. Additionally,
- A signed cheque drawn in favour of Kotak Mahindra Bank A/c - (your name) on your existing account in India or abroad AND
- An original bank account statement (not more than 3 months old) or
- Original credit card statement (not more than 3 months old) or
- Original utility bill (electricity/piped gas/telephone/water - not more than 3 months old)

Notes:

Entry Work/Residence Visa accompanied with employment contract and customer signed declaration will be accepted to open an account. The customer has to submit the valid permanent visa before expiry of the Entry Work/Residence Visa failing which the account will be blocked/ closed.
Bridging Visa for customers resident in Australia can be accepted for account opening. For bridging visa - copy of customer passport which bears the original expired visa date along with email of bridging visa needs to be submitted.

Person of Indian Origin

Documentation for Person of Indian Origin (PIO), while submitting the account opening form / documents at Kotak Bank Branches in India:-

Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
- Copy of Indian passport of spouse OR
- Copy of Indian passport held by self or parents / grandparents at any time OR
- PIO Card OR
- OCI (Overseas Citizen of India) Card
Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

Documentation for Person of Indian Origin (PIO), while sending the account opening from / documents overseas:-

Photocopy of Foreign Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Visa / Work / Residence Permit (required only if the country of mailing address is different from the country of citizenship and India, the visa could be either in the passport or given separately); and
Additionally, applicant has to provide any of the below mentioned document, if the place of birth is outside India:
- Copy of Indian passport of spouse OR
- Copy of Indian passport held by self or parents / grandparents at any time OR
- PIO Card OR
- OCI (Overseas Citizen of India) Card
Proof of Mailing Address (Indian or overseas address as selected for communication on the account opening form); and
Latest colour photograph (passport sized)

The above documents mentioned under a, b, c and d needs to be attested by:

An overseas bank official located and operating in Argentina, Australia, Austria, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, Greece, Bahrain, Qatar, Kuwait, Oman, Saudi Arabia, UAE, Hong Kong, Iceland, Ireland, Italy, Japan, Luxembourg, Mexico, Netherlands, New Zealand, Norway, Portugal, Russian Federation, Singapore, South Africa, Spain, Sweden, Switzerland, Turkey, United Kingdom and the USA only. OR
Any Branch of an Indian Scheduled Commercial Bank having overseas branch OR
Notary Public or Equivalent Authority OR
The Indian diplomatic mission in the applicant’s country of residence OR
Self-Attestation. In case of Self Attestation, all documents submitted should be signed by respective account holders with the words ‘TRUE COPY’. Additionally,
- A signed cheque drawn in favour of Kotak Mahindra Bank A/c - (your name) on your existing account in India or abroad AND
- An original bank account statement (not more than 3 months old) or
- Original credit card statement (not more than 3 months old) or
- Original utility bill (electricity/piped gas/telephone/water - not more than 3 months old)

Seafarer Employed with Foreign Vessels

Documentation for Seafarer employed with foreign vessels, while submitting the documents at Kotak Bank Branches in India:-

Photocopy of Passport pages where your name, photograph, date and place of birth, specimen-signature, date of issue / expiry and address details are recorded; and
Copy of valid Transit / Work Visa (the visa could be either in the passport or given separately); OR Copy of Continuous Discharge Certificate (CDC). The CDC must indicate latest discharge stamp / last date of arrival in India, or a declaration that you are sailing for the first time; and
Valid Contract Copy OR Original letter on the letterhead from agent / principal carrying logo and address providing contract details namely: 1. Name of the employee 2. Employment in the principal shipping company (Name of the principal where employed & Address of the overseas company) 3. Name of the vessel & flag. 4. Name of the port. 5. Commencement of contract. 6. Tenure. 7. Salary in foreign currency. 8. Passport no.; and
Merchant Navy Declaration - Format provided in the Account Opening Form; and
Proof of Mailing Address (Indian Address only); and
Latest colour photograph (passport sized)

Disclaimers

All KYC documents provided to be mandatorily self-attested, except on furnishing original documents / certificates.

Fees & Charges Effective from December 22, 2017

Particulars	Standard Charges	NRE / NRO Savings A/c	NRE / NRO PINS# A/c	NRE / NRO Current A/c	NR Platina NRE / NRO
Average Quarterly Balance (AQB)	NA	10000	Nil	25000	100000
REMITTANCE			Not allowed for non-broker third party transactions
DD at Branch Location / Pay Order	2.5 per 1000 (Min 50 Max 10000)	Nil up to 100k per day	Nil up to 100k per day	Nil up to 100k per day	Nil up to 100k per day
DD at other than Branch Location	2.5 per 1000 (Min 50 Max 10000)	Nil up to 50K per day	Nil up to 50K per day	Nil up to 50K per day	Nil up to 100K per day
FCY DD^^	500	*	*	*	*
FCY TT-Corr. Bank Charges borne by beneficiary^^	250	*	*	*	*
FCY TT-Corr. Bank Charges not borne by beneficiary^^	1000	*	*	*	*
DD / PO / BC Revalidation / Cancellation - INR	100	*	*	*	*
DD / PO / BC Revalidation / Cancellation - FCY^^	500	*	*	*	*
Fund Transfer	Nil	Nil	Nil	Nil	Nil
NEFT (Per Transaction)**	Up to 10,000 : Rs.2.5 10,001-1,00,000 : Rs.5 1,00,001-2,00,000 : Rs.15 Above 2,00,000 : Rs.25	Thu Net - Nil Thru Branch - Std charges	Thu Net - Nil Thru Branch - Std charges	Thu Net - Nil Thru Branch - Std charges	Nil
RTGS (Per Transaction)	200000 to 500000 : 25; > 500000 : 50	*	*	*	*
COLLECTION
Local Clearing Cheque	Nil	Nil	Nil	Nil	Nil
Outstation Cheque Collection Charges - Branch Location (Per Instrument)	Cheques drawn on Non-Speed Clearing Locations: Instrument value up to. 500 - Nil; > 500 to 5,000 = 20; > 5,000 to 10,000 = 35; > 10,000 to 1,00,000 = 85; > 1,00,000 = Nil Cheques drawn on Speed Clearing Branches (Irrespective of any value) : Nil 10001 to 100000 : 100; 100001 & above : 150	Nil	Nil	Nil	Nil
Outstation Cheque Collection Charges - Other than Branch Location (Per Instrument)	Cheques drawn on Non-Speed Clearing Locations: Instrument value up to. 500 - Nil; > 500 to 5,000 = 20; > 5,000 to 10,000 = 35; > 10,000 to 1,00,000 = 85; > 1,00,000 = Nil Cheques drawn on Speed Clearing Branches (Irrespective of any value) : Nil	*	*	*	*
TC Encashment^^	0.3% of TC Amount (Min 50)	*	*	*	Nil
FCY Cheque Collection^^	500.0	*	*	*	*
ANY BRANCH BANKING CHARGES
Cash Deposit at Home / Non Home Location	3.5 per 1000 (Min Rs. 100)	Nil up to 5 txn per month Or Rs. 10 lac per month.	Nil up to 5 txn per month Or Rs. 10 lac per month.	Nil up toRs. 10 lac per month.	Nil up to 1 txn per month Or Rs. 15 lac per month.
Cash Withdrawal at Home Location	Nil	Nil	Nil	Nil	Nil
Cash Withdrawal at Non-Home Location	3.5 per 1000 (Min Rs. 100)	Nil	Nil	Nil	Nil
CHEQUE RELATED CHARGES
At-par Cheque Book Charges	1.5 per cheque leaf	Nil	Nil	Nil	Nil
Non At-par Cheque Book Charges	1.5 per cheque leaf	Nil	Nil	Nil	NA
Cheque Issued & Returned (Financial Reason)	350 for first return in a month thereafter 750 for each additional return in the same month	*	*	*
Cheque Issued & Returned (Technical Reason)	Nil	Nil	Nil	Nil
ECS Return / Cheque Issued & Returned (Financial Reason) <>	350 per cheque for first return in a month thereafter 750 per cheque for cheque returned the same month	*	*	*	*
Cheque Deposited & Returned (INR)	100	*	*	*	*
Cheque Deposited & Returned (FCY)	1000	*	*	*	*
DEBIT CARD ANNUAL CHARGE
Classic Debit Card	150 p.a.	*	NA	*	Nil
Silk Classic Debit Card	150 p.a.	*	NA	*	Nil
Gold Debit Card	500 p.a.	*	NA	*	Nil
Platinum / My World Debit Card	750 p.a.	*	NA	*	Nil
World / World Exclusive Debit Card	750 p.a.	*	NA	*	Nil
Replacement of Lost / Stolen Debit Card	200 p.a.	*	NA	*	Nil
ATM TRANSACTION CHARGES
Kotak Bank's ATM - Cash Withdrawal / Non-Financial Transactions	Nil	Nil	NA	Nil	Nil
Other Domestic ATMs - Cash Withdrawal / Non-Financial Transactions	Cash Withdrawal - 20/txn Non Financial - 8.5/ txn	5 txn per month - Nil, thereafter Std. charge	NA	Nil	Nil
Cash Withdrawal / Non-Financial Transaction at International ATM	Cash Withdrawal - 150/txn Non Financial - 25/ txn	*	NA	*	*
Transactions declined at other bank domestic ATMs due to insufficient balance	25 per transaction	*	NA	*	*
HOME BANKING CHARGES
Cash Pick-up / Delivery	175 / txn	Nil upto 5 Calls per month	Nil upto 5 Calls per month	Nil upto 5 Calls per month	Nil upto 10 Calls per month
Instrument Pick-up / Delivery	75 / txn	Nil upto 5 Calls per month	Nil upto 5 Calls per month	Nil upto 5 Calls per month	Nil upto 10 Calls per month
STANDING INSTRUCTION
Standing Instruction - Set-up	100	*	NA	*	Nil
Standing Instruction - Amendment	25	*	NA	*	Nil
Standing Instruction - Execution	Nil	Nil	NA	Nil	Nil
Standing Instruction - Failure	25	*	NA	*	Nil
CERTIFICATE & REPORT ISSUANCE CHARGES
Current Year Balance and Interest Statement	Nil	Nil	Nil	Nil	Nil
Previous Year Balance and Interest Statement	100	*	*	*	Nil
Signature Verificaiton Certificate	25	*	*	*	Nil
Photo Attestation	50	*	*	*	Nil
Address Confirmation	50	*	*	*	Nil
Duplicate TDS Certificate	100	*	*	*	Nil
ACCOUNT STATEMENT & PASSBOOK
Physical Account Statement (Quarterly)	Nil	Nil	Nil	Nil	Nil
Monthly E-mail Account Statement	Nil	Nil	Nil	Nil	Nil
Account Statement Weekly (Physical)	100 Per Month	*	*	*	*
Account Statement Daily (Physical)	500 Per Month	*	*	*	*
Annual Combined Statement (Physical)	Through Net Banking: Free, Through Branch: 85; Through Phone Banking: 110	*	*	*	*
Duplicate / Ad-hoc Statement Branch Banking (90 days)	Through Branch: 100; Through Net / ATM: 50	*	*	*	Nil
Pass Book (In Lieu of Account Statement)	Nil	Nil	Nil	Nil	Nil
Foreign Inward remittance certificate	100	*	*	*	*
Duplicate Passbook	250	*	*	*	*
OTHER CHARGES
Non Maintenance Charge (Quarterly) <>	NA	AQB more than 50% but less than required AQB: 900; AQB less than or equal to 50%: 1200	NA	AQB more than 50% but less than required AQB: 900; AQB less than or equal to 50%: 1200	AQB more than 50% but less than required AQB: 900; AQB less than or equal to 50%: 1200
Image Debit Card Issuance Fee**	199	*	NA	*	*
Regeneration of PIN	50 (Applicable if Pin is set through Post)	*	NA	*	Nil
Stop Payment - Single / Range of Cheques	100: Over Net Banking - Nil	*	*	*	*
Account Closure (if closed after 1 month and before 7 months of A/c Opening)	NA	600	600	1000	1200
Email alert subscription	25 per qtr.	Nil	Nil	Nil	Nil
TOD Charges	500	*	*	*	*
Cheque Purchase Charges	0.5 / 1000 (Min 50 Max 10000)	*	*	*	*
Record Retrieval Charges	100 per request	*	*	*	Nil
Inoperative A/c for more than 1 year <>	NA	*	*	*	Nil
Activation of Inoperative Account	Nil	*	*	*	Nil
*Indicates Charged Service. Applicable Charges will be as per Standard Charge.
^across all accounts where Primary Privy League customer is the first holder
#PINS = Portfolio Investment Account. Charges indicated in the GSFC above are over and above PINS, demat and trading account charges
***Not available on NRO debit card. NA = Not Applicable
GST slabs that are applicable for currency conversions:
Value of Purchase or sale of Foreign Currency			Value on which GST rate will be applicable
Up to Rs. 1,00,000			1% of the gross amount of currency charges or minimum of Rs. 250/-
Above Rs. 1,00,000/- to Rs. 10,00,000/-			1000 + 0.50% of the gross amount of currency exchanged less 1,00,000
Above Rs. 10,00,000/-			Rs. 5,500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs. 60,000/-
Charges 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
+ Additional charges levied by another bank on international ATM transationcs will also have to be borne by the card holder
Bank reserves the right to charge @ Rs. 50 per txn for exceeding 30 txn per month in case the txn in savings account is of business / commercial nature.
For NR Privy league customers - The Bank shall review the relationship value on a periodical basis, if the same is below the programme threshold value, then the Bank shall reseve the right to levy penalty charges of Rs 3000/- p.a.after giving a notice of 30 days
The Bank will charge cross-currency mark-up 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.
"<>" Penalty Charges. Not applicable once the account becomes inoperative / dormant.
With effect from April 1, 2015, in the event of a default in maintenance of Average Quarterly Balance (AQB) as agreed to between the Bank and customer for the quarter (referred as 'Default Quarter'), the Bank will notify the customer clearly of the default and that the Average Quarterly Balance for the account has to be met in the subsequent Quarter (referred to as 'Notice Quarter'). If the AQB is still not maintained in the 'Notice Quarter', the NMC (Non Maintenance Charges) for both the 'Default Quarter' and 'Notice Quarter' will be recovered in the subsequent Quarter. The Bank may choose to notify this through 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 charges will be based on the shortfall observed in the AQB and as specified in the slabs in GSFC. In case of accounts sourced under promotional offering and enjoying conditional NMC waiver, the terms and conditions of such promotional offering shall prevail.
+' Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder
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 prevailling at the time of the transaction
Non-financial transactions are Balance Enquiry, Mini statement & PIN Change
Debit Card Annual Charges for Junior, Youth, Access India and Maestro Debit cards will be same as Classic Debit Card.
Debit Card Annual Charge for Titanium Debit Card issued to NRE/NRO Savings & Current accounts will be Rs. 200 and free for NRE / NRO Platina account.
**Image Debit Card will not be available for NRO accounts

NRE Platina Savings Account

NRE Platina Savings Account

Other Features

Eligibility

An NRI is an Indian citizen who stays outside India:

A foreign citizen is deemed to be of Indian origin if:

Disclaimers

Disclaimers

Fees & Charges Effective from December 22, 2017

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