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