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  • Kotak Classic Savings Account

    Savings Account
    • Instant money transfer
    • 24x7 ATM withdrawals
    • Attractive rate of interest

    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!


    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.

    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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