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Kotak Grand Savings Account

Individuals of the age 55 and above are eligible to apply for the Kotak Mahindra Grand Savings Programme.

Bank Kotak Mahindra
Category Mahindra Grand Savings Programme
Interest Rate Up to 6% per annum
Card Offered Grand Priority Card and First Aid Card + Health Card from IHO for Ace, Pro and Platina customers

Services Offered with Kotak Mahindra Grand Savings Account

SMS Service Yes + SMS to Receive Call Back Service
Net Banking Yes
Mobile Banking Yes
Customized Cash Delivery Cash will be delivered to your doorstep on predefined dates – 1 , 5, 10, 15, 20, 25th of the month
Priority Service and First Aid Card Receive 1st preference at all branches. The cards will also contain your health status and emergency contacts

Features of Kotak Mahindra Grand Savings Programme

Cash Back Up to Rs. 4500

Travel Card – 25% off on issuance charge

Preferential MF Charge Rate – 1.25% through Investment Account

1st year waiver on Demat AMC

Locker Rental – Up to 35% off for the 1st year

Rewards Program

Lifestyle Benefits – Exclusive Offers/Deals on Shopping and Travel

Kotak ActivMoney – convert your savings account balance into Term Deposits to earn higher interest rates (conversion only up to a certain amount)


Easy Bill Payment from your account

Kotak Aqua Credit Card Facility – get quick cash of 80% of your credit limit of your Term

Deposit with Kotak Mahindra

Kotak Overdraft Facility – get overdraft of your

Term Deposit of up to 85%

Debit Card Feature Purchase Protection – Up to 1 lakh for consumer durable products

Cash Rewards of Kotak Mahindra Grand Savings Account

Features Edge Pro Ace Platina
Minimum Spend per month Rs. 5000 Rs. 10000 Rs. 15000 Rs. 15000
Maximum Limit of Cash Back per month Rs. 125 Rs. 250 Rs. 375 Rs. 375
Maximum Limit of Cash Back per year Rs. 1500 Rs. 3000 Rs. 4500 Rs. 4500

Note: The aforementioned amounts are all subject to meeting the AMB (Average Monthly Balance) Criteria and Debit Card Spend.

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

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