Kotak Grand Savings Account

Kotak Grand Savings Account is designed for individuals aged 55 and above, offering exclusive benefits tailored for senior citizens. It comes with up to 6% interest, priority service, cashback, and health-related perks.

Updated On - 05 Sep 2025

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
Discounts	Travel Card – 25% off on issuance charge Preferential MF Charge Rate – 1.25% through Investment Savings 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)
Extras	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

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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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