Kotak Junior Savings Account

What is Kotak Junior Savings Account?

Specially designed to meet the saving needs of our little stars, Kotak Junior Savings Account helps inculcate the habit of savings from a very early age and also empowers the parents to build a corpus for the future of their kids.  

Updated On - 05 Sep 2025
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With attractive privileges like Junior ID card and offers in dining, shopping and edutainment categories, your children will now love saving money with the all new Kotak Junior Savings Account.

Highlights of Kotak Junior Savings Account:

Bank

Kotak Bank

Category

Kotak Junior Savings Account

Proposal

To combine the benefits of savings account for the junior and the guardian also to facilitate investment in a RD/SIP.

Interest Rate

Up to 6% per annum on the Junior and Guardian account balance

Debit Card

Personalized Junior Debit Card

Features of Kotak Junior Savings Account:

Junior Savings Account

Nova Savings account with NMC waiver

Guardian Savings Account

Designed specially for the parents, this account will give you all the required banking facilities.

Investment

You can invest in Recurring Deposit or Systematic Investment Plan for a minimum amount of Rs.2000 per month and tenure of 36 months

Recurring Deposit

You can save a predefined amount in a long term deposit by contributing every month.

SIP - Systematic Investment Plan

Customers are offered the flexibility to choose the amount and duration of the SIP investment.

Standalone Junior Account

Customers can also choose to select the regular savings account without SIP/RD options and the guardian account.

Exclusive Privileges for Kotak Junior Savings Account:

Account holders get online and offline offers all round the year when purchasing at partner stores like Cookie Man, Amoeba, Dominos, Donut Baker and National Geographic.

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

FAQs on Kotak Junior Savings Account

  • What is a Kotak Junior Savings Account?

    A Kotak Junior Savings Account is designed for minors or individuals under the age of 18. The objective of this specialized savings account is to foster saving habits in kids.

  • What are the benefits of having a Kotak Junior Savings Account?

    The benefits of having a Kotak Junior Savings Account are access to offers and discounts, earning interest on the balance, and personalized debit cards. 

  • Does having a Junior Savings Account offer any tax benefits?

    Yes, having a Junior Savings Account allows one to claim a tax deduction of up to Rs.1500 p.a. Interest income earned in a minor’s account is eligible for exemption under the Income Tax Act. 

  • Is it possible to open a Kotak Junior Savings Account online?

    Yes, it is possible to open a Kotak Junior Savings Account without visiting the branch through Kotak Mahindra Bank’s website.

  • What are the eligibility criteria for opening a Kotak Junior Savings Account?

    The eligibility criteria for opening a Kotak Junior Savings Account are individuals under 18 years old and permanent residents of India. 

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