| Bank | Kotak Mahindra |
| Category | My Family Savings Account |
| Minimum Balance Requirement | Varies for different accounts |
| Interest Rate | Up To 6% with minimum balance over Rs 1 lakh; 5% with minimum account balance up to Rs 1 lakh |
| Card Offered | Classic / Platinum Debit Card |
Services Offered by Kotak Mahindra My Family Savings Account
| SMS Alerts | Yes |
| Internet Banking | Yes |
| Mobile Banking | Yes |
Features of Kotak Mahindra My Family Savings Account
| Home Banking | Avail services like cash delivery, cash pick-up, cheque/demand draft delivery without having to step outside your house. Currently this service is available only in select cities. |
| ATM Usage | Free ATM usage for Pro and Ace account holders |
| Discount on Travel Card | Enjoy a 25% discount on the issuance of Travel Cards and forego the hassles of carrying travelers cheques. |
| Discount on Locker Rent | Ace account holders can avail 15% discount on Locker rent; discounts also applicable for Silk and Grand account holders. |
| High Withdrawal Limits | Classic and Platinum Debit Cards come with high withdrawal limits and exclusive offers |
| Convenient Banking Services Online | Book tickets and pay bills conveniently with the help of net banking and mobile banking. |
| Insta Balance Service | Simply call on the helpline number to instantly get information about your account balance via SMS |
| Hashtag Banking | Now bank with Kotak Mahindra via Twitter |
| Immediate Payment Service (IMPS) | Now, transfer funds instantly from your account to another bank account. |
| ActivMoney | With this account, you have the option of converting your balance above a certain amount to a Term Deposit and earn higher interest. |
| Dedicated Relationship Manager | The bank will assign a special relationship manager who will help you with wealth management. (subject to maintenance of minimum account balance) |
| Programme Related Benefits | Grand account – Cash back up to Rs 4500 on debit card sends, customized cash delivery, etc. Silk account – Up to 60 movie tickets in a year, 35% discount on locker rental in the first year. Junior account – personalized Junior ID card, movie tickets / book vouchers on maintaining required balance. |
Fees & Charges On Kotak Mahindra My Family Savings Account
| Debit Card Issuance Charge | Classic Debit Card – Rs 100; Gold Debit Card – Rs 500 & Platinum Debit Card – Rs 750 |
| Debit Card Annual Charge | Classic Debit Card – Rs 150; Gold Debit Card – Rs 250; Platinum Debit Card – Rs 750. |
| ATM Transaction Charges (at bank ATM) | Cash Withdrawal / balance enquiry - free of charge |
| Cash Withdrawal (at other bank ATM) | Cash withdrawal – Rs 20; Balance enquiry – Rs 8.50. |
| International Cash Withdrawal | Rs 150 |
| Home Banking Charges | Cash pickup / delivery – Rs 175 per transaction; Instrument pickup / delivery – Rs 75 per transaction. |
| NEFT Transfer | Up to Rs 10,000 – Rs 2.50; Rs 10,001 to Rs 1,00,000 – Rs 5; Rs 1,00,001 to Rs 2,00,000 – Rs 15 and above Rs 2 lakh – Rs 25. |
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
