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  • Kotak Jifi Saver Savings Account

    Kotak Mahindra Bank Savings Account

    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
    • Up to Rs. 50,000 per day – Free.
    • More than Rs. 50,000 per day - Standard Charges will apply

    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
    • Earn rewards by referring friends
    • Loyalty Club – Guaranteed rewards whether you transact or share
    • Transact using your JIFI Platinum Chip Debit Card on kotakrewards.com and earn extra transaction points
    Extras
    • Free Bureau Score - avail offers on transaction and lending products.
    • Kotak ActivMoney – convert your savings account balance into Term Deposits to earn higher rate of interest (conversion is allowed up to a certain amount)

    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
    1. 2 - 5 lakhs - Rs. 25 per transaction
    2. Above 5 lakhs - Rs. 50 per transaction
    Cash Deposit at Home / Non Home Branch
    • Up to Rs. 7.5 lakhs per month – Free
    • More than Rs. 7.5 lakhs per month – Standard Charges will apply
    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
    • Via Net Banking – Free
    • Via Branch – Rs. 85
    • Via Phone Banking – Rs. 110
    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
    • Through Net banking – Free
    • Other methods – Rs. 100
    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)
    • Must be an existing customer for over 6 months
    • Account conduct must be satisfactory
    • Introducer must know the customer for at least 1 year
    Yes No No
    Important Points to Note –
    • 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
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