- Instant money transfer
- 24x7 ATM withdrawals
- Attractive rate of interest
To apply for Kotak Jifi Saver Account you must be –
- 18 years and above.
- Be an Indian Resident and have a sole or a joint account.
| Bank | Kotak Mahindra |
| Category | Kotak Jifi Saver Account |
| Average Monthly Balance or AMB | Rs. 10,000 |
| Interest Rate | Up to 6% per annum on your savings account balance |
| Card Offered | JIFI Platinum Chip Debit Card – Free for the first year |
Services Offered with Kotak Jifi Saver Account
| Online Transactions | Free |
| Hashtag Banking | Cheque Book Request, Account Updates, Mobile/DTH recharge and more by tweeting |
| NEFT/IMPS | Free |
| RTGS | Free through Net Banking |
| Cheque Book | Default Cheque Book – Only Payable At – par / Also, 10 cheque leaves are free. Rs. 5 will be charged for each additional cheque leaf |
| Cash Withdrawal from Home Branch | Free |
| Cash Withdrawal from Non Home Branch |
|
Features of Kotak Jifi Saver Account
| Simple Account Monitoring | Through monthly/quarterly statements - Physical/ E-mail statements |
| Kotak MoneyWatch Platinum Subscription | Helps track your expenses. This feature is free for 1 year. |
| Free Bureau Score | Know your credit bureau score with a simple click |
| Rewards Program |
|
| Extras |
|
Fees and Charges for Kotak Jifi Saver
| JIFI Platinum Chip Debit Card/ Add On Card Issuance Charge | Free |
| JIFI Platinum Chip Debit Card/ Add On Card Annual Charge | Free for the first year. Post that Rs. 199 per annum |
| Fund Transfer | Free |
| RTGS through Bank Branch |
|
| Cash Deposit at Home / Non Home Branch |
|
| Kotak ATM Cash Withdrawal | Free |
| Cash Withdrawal – Other VISA domestic ATMS | First 5 transactions are Free. Post that Rs. 20 per cash withdrawal |
| Balance Enquiry - Other VISA domestic ATMS | First 5 transactions are Free. Post that Rs. 8.50 per balance enquiry |
| Balance Enquiry – International + Other VISA ATMS | Rs. 25 per transaction |
| Cash Withdrawal - International + Other VISA ATMS | Rs. 150 per transaction |
| Replacement of Lost card | Rs. 200 |
| Replacement of a Damaged Card | Free |
| Annual Combined Statement – Physical |
|
| Account Statement – Quarterly (Physical) | Free |
| Account Statement – Monthly (E-mail) | Free |
| Balance Statement for Current Year | Free |
| Balance Statement for Previous Year | Rs. 100 |
| Verification of Signature | Rs. 25 |
| Attestation of Photo/ Confirmation of Address | Rs. 50 for each |
| Foreign Currency DD Issuance/ Revalidation/ Cancellation | Rs. 500 for each |
| BC/DD Revalidation/ Cancellation | Rs. 100 for each |
| Charge for Inoperative Account | Free |
| Charge for Activation of Inoperative Account | Free |
| Stop Payment |
|
| Charge for Account Closure | Free |
Documentation Required for Kotak Jifi Saver
| Document | ID Proof | Residence Proof | Signature Proof |
| Valid Driver’s License | Yes | Yes | Yes |
| PAN Card | Yes | No | Yes |
| Passport | Yes | Yes | Yes |
| Election Card or Voter ID Card | Yes | Yes | No |
| Ration Card | No | Yes | No |
| College ID Card – Valid and issued by colleges that are affiliated to universities. Applicable only as a Joint Holder with a parent/ guardian | Yes – Photo must be included | Yes – Address must be included | Yes – Signature must be included |
| Marriage Certificate – Only for married women (single/joint/primary holders are all eligible)/ Not accepted for husbands | Yes – Photo must be included | Yes – Address must be included | Yes – Signature must be included |
| Utility Bill – Should not be more than 3 months old | No | Yes | No |
| Bank Statement – Account must be active/ must contain the logo printed by the bank OR must be signed and stamped. Statements from the Internet are NOT accepted | No | Yes | No |
| Sale Deed | No | Yes | No |
| Income/Sales /Service/ Wealth Tax Assessment Order – Must not be older than 6 months | No | Yes | No |
| Postal Certificate | Yes – Photo must be included | Yes – Address must be included | Yes – Signature must be included |
Existing Kotak Bank Customer – Introductory Reference (No Frills Account)
|
Yes | No | No |
- Original documents must be submitted along with the photocopies
- Photocopies must be self-attested by the applicant
- You must fill the form only in Black Ink and in CAPITAL Letters
- Any alteration or overwriting must be countersigned
- Site Verification Report is a must for opening an account
- All relevant boxes must be ticked
- Your complete address must include – City/State/Pin Code
- Nomination facility can be availed
- Cash will not be accepted as initial payment when opening an account
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
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