ECS / Cheque Issued & Returned (due to non availability of funds)
Rs.500 / instance
ECS Mandate Verification
Cheque deposited and returned (INR)
Rs.100 / instance
Duplicate Ad-hoc statement, Balance & Interest Statement, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment - Single / Range of cheque thru branch; DD Revalidation; PO / BC Revalidation/ Cancellation (INR); Annual Combined Statement-Physical; Monthly Physical Statement; Regeneration of PIN of Net Banking / Phone Banking (sent through courier)
DD Cancellation (INR)
Foreign Inward Remittance Certificate
Cash** / Instrument Pick Up / Delivery (Not Valid for Ahmedabad & Kolkata)
10 Free calls / month, thereafter Rs. 150 per visit
KYC Pickup – Only for senior citizen and differently abled###
Rs. 100 per visit
Upto 3 Additional NMC waived Family member accounts under "My Family"
GST on Foreign Currency Conversion Charges (FCY) ~
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 exchanges 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.
Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs.60,000/-
250 (exclusive of GST)
75 (exclusive of GST)
Foreign Exchange Services (FES)
Outward Remittances - Individual
Telegraphic Transfer Charges (other than payment for imports)
INR 1250 + Tax
Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter)
INR 1000 + Tax
Issue of FCY DD's
INR 750 + Tax
Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account)
0.125 %; minimum INR 1,000 +Tax
"As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.
##Cash withdrawal limit from other Domestic ATM is Rs. 10,000 per transaction.
Transaction and Value Added SMS alerts would be sent at Nil Charge to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent at Nil Charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed.
**Indo - Nepal Remittance Scheme (NEFT Charges):
If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes).
If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5,000 Rs. 75 per txn & beyond Rs. 5,000 Rs. 100 per txn (incl all taxes).
Nova Savings and Classic Savings are available in Rural and Semi-Urban Branches. Service Charges & AMB requirement for 'Savings Account for Minors without Guardian' will be same as 'Nova Savings Account'.
Service Charges for Synergy Savings Account' would be same as ‘Nova Savings Account’. However , there is no minimum AMB requirement in Synergy Savings Accounts.
Service Charges for Savings Account For Professionals' would be same as ‘Pro Savings Account’. However , there is no minimum AMB requirement in Savings Accounts For Professionals’
Service Charges for Savings Account For Special Projects' would be same as ‘Edge Savings Account’. However , there is no minimum AMB requirement in Savings Accounts For Special Projects’
Service Charges for 'Kotak Composite Savings Account' will be same as 'Ace Savings Account'. Duplicate Ad-hoc statement will be charged at RS.100/- per request on 'Kotak Composite Saving Account'
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.
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]
Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change.
Debit Card Annual Charges for Junior, Youth and Maestro Debit Cards will be same as Classic Debit card. Debit Card Annual Charge for Titanium Debit Card issued to Edge / Nova will be Rs. 200 and free for others accounts.
+Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder.
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.
The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges.
Please note that the Cash Pickup/ Delivery charges pertain to the “ Cash Pick-up/ Delivery” service offered to the customer. Additional charges 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.
<> Penalty charges. Non-maintenance charges (NMC) is not applicable once the savings account becomes inoperative / dormant.
With effect from April 1, 2015: In the event of a default in maintenance of Average Monthly Balance as agreed to between the Bank and customer for the month (referred as Default Month), the Bank will notify the customer clearly of the default and that the Average Monthly Balance for the account has to be met in the subsequent month (referred to as Notice Month). If the AMB is still not maintained in the Notice Month, the NMC (Non Maintenance Charges) for both the Default Month and Notice Month will be recovered in the subsequent month. 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 charges will be based on the shortfall observed in the AMB 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."
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 :
Aggregate Cash Withdrawals in all accounts in a Financial Year
Income tax Return copy Submitted to Bank
Income tax Return copy NOT Submitted to Bank
Upto Rs.20 Lakhs
Rs.20 lakhs to Rs. 1 crore
In Excess of Rs. 1 crore
.@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.
Debit and Credit Cards are an integral part of everyday lives now. Though digital transactions have made lives easier, it is important to be cautious and aware of the various elements of risk involved. We, at Kotak Mahindra Bank take the safety of our customers seriously. Here are a few ‘Dos and Don’ts’, which will help you to avoid debit and credit cards frauds and enjoy a safe and hassle-free banking experience.
Upon receiving the welcome kit, ensure that the envelope is sealed. If there is any hint of tampering, contact the bank immediately.
Immediately sign on the reverse of the card.
Change the PIN of the card after receiving it. Ideally, do so every six months for complete protection.
Keep your cards safely. In the case of loss or theft, immediately inform the bank.
After receiving a new or upgraded card, discard the old one by cutting it diagonally.
It is advisable to change the PIN after an overseas trip.
Try and memorise your PIN instead of writing it anywhere.
Avoid using physical keyboards and preferably use Virtual Keypad (show image) to input your credentials in your lap top or mobile.
Be careful while entering your PIN anywhere – ATM, card machines, etc.
Update your email and phone number for constant alerts on any card activity. Keep an eye on your transactions and purchases and report any unusual transactions to the bank immediately.
Make sure that you have the 3D secure for your cards, in the form of Verified by Visa (VbV) or Mastercard Secure Code (MCSC). This is a mandate for online transactions now and all Kotak cards have it.
Always check the url of the website to make sure that it is a secure one before making the payment. Quick check: make sure there is a lock icon (https://show lock symbol) on your browser, which indicates that the website is using an encryption technology while transmitting sensitive data. On clicking the lock you can see the digital certificate and other details related to the website. Proceed only if such verification is available
Check the url of sites if it displays the IP address or numerical address instead of domain name as such sites are likely to not be a genuine site.
Remember that Kotak Mahindra Bank will never ask you for details such as a copy of the front and back of your card.
If anyone claims to be a bank representative and asks for your card, do not hand it over.
Never share your card details like card number, expiry, CVV, PIN or OTP with anyone, even if they claim to be bank officials.
Do not saving your card details on online merchant websites.
Never enter your details on emails with input fields asking for your cards details, ATM PIN, CVV, UPI PIN etc
Avoid using your cards on unauthorised payment gateways such as those of gaming websites, pornography websites, lottery, gambling, and more.
Never sign a blank application form with the promise of it being filled later on by the bank representative.