Kotak Classic Savings Account

Kotak Classic Savings account is specially crafted to offer you a premium banking experience at an easy minimum balance requirement. With benefits like convenient AMB and free debit card, Kotak Classic account will be more than just a normal savings account.

Updated On - 05 Sep 2025
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Highlights of Kotak Classic Savings Account:

Bank

Kotak Bank

Category

Kotak Classic Savings Account

Minimum Balance Requirement

Average Monthly Balance (AMB) of Rs.10,000

Interest Rate

Up to 6% on savings account balance

Debit Card

Classic debit card

Kotak Classic Account Eligibility & Documentation:

Eligibility

Any Individual residing in India, foreign nationals who are residing in India and Hindu Undivided Family (HUF) can open Kotak Mahindra Classic Savings Account.

Documentation

KYC Documents - ID proof, address proof documents and signature proof.

For ID and address proof, you can submit any of the following - passport, driving license, Voter ID, PAN card or ration card For signature proof, customers can submit any valid documents bearing their signature like driving license and PAN card.

Services Offered With Kotak Classic Savings Account:

Debit Card

Classic Debit Card

Limit for debit card

Daily ATM withdrawal limit of Rs.50,000 and enhanced purchase limit of Rs.1.5 lakh per day

ATM Access

Free access to all domestic ATMs

Cash and instrument pick up

Free up to 5 calls a month

Mobile Banking

Free

Net Banking

Free

Cash withdrawals

Free access to all ATMs in the country. Free cash withdrawals at all Kotak Bank branches

Phone Banking

Free

NMC Waiver

Cardholder gets one NMC waived Kotak Nova Savings Account for a family member.

Fees and Charges for Kotak Classic Savings Account:

Average Monthly Balance

Rs.10,000

NEFT charges

Free if done online. Standard charges if done through the bank branch.

DD at other branch location

Free up to Rs.50,000 a day

Cash deposit at home and non-home locations

Free up to 5 transactions per month or free up to a limit of Rs.10 lakh per month

At-par cheque book charges

Free

Cash withdrawal at home and non-home locations

Free

Debit card (/classic/gold/platinum) issuance charge

Free

Cash withdrawal at international ATMs

NA

Cash withdrawal at own and other ATMs

Free

Cash pickup and delivery - Home Banking

5 free calls per month

Monthly non-maintenance charges

If AMB > 50% but less than required AMB, Rs.350 will be charged. For AMB < 50%, Rs.450 will be charged.

Activation of inoperative account

Free

Issuance of Pass Book

Free

GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.

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