The following individuals are eligible to apply for a Kotak Platina Savings Account
- Indian Residents – both sole or joint accounts are applicable
- HUF or Hindu Undivided Families
- Foreigners residing in India
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Bank
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Kotak Mahindra
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Category
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Kotak Platina Savings Account
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Average Monthly Balance (AMB)
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Rs. 1 lakh
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Interest Rate
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Up to 6% per annum on your savings account balance
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Card Offered
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Free Platinum and Add On Platinum Debit Card
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Services Offered with Kotak Platina Savings Account
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Phone Banking
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Yes
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Net Banking
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Yes
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Mobile Banking
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Yes
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Home Banking
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Yes. Free up to 10 calls every month
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Cash Withdrawals
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Unlimited cash withdrawals at any domestic ATMs
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Demand Drafts
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Unlimited and free at all Kotak Bank locations
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Multi City Cheque Books
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Free – on par cheque books
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NEFT / RTGS / IMPS
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Free
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Features of Kotak Platina Savings Account
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Convenient Account Monitoring
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Via daily/weekly/monthly/quarterly statements - Physical/ E-mail statements
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Cash Withdrawal at Home/ Non Home Location
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Free
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Cash Deposit at Home/ Non Home Location
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Free - 10 transactions or up to Rs.15 lakh each month
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Discounts / Offers
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25% off on Locker Rent
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25% off on Best Compliments Card (Gift Cards)
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Rewards
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Kotak ActivMoney – convert your savings account balance into Term Deposits to earn higher interest rates (conversion only up to a certain amount)
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Fees and Charges for Kotak Platina Savings Account
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Platinum and Add On Platinum Debit Card Issuance Charge / Annual Fee
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Free
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Replacement of Lost card
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Rs. 200
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Replacement of a Damaged Card
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Free
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DD or Pay Order at Branch Location
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Free
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DD or Pay Order at non Branch Locations
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Free for up to Rs. 1 lakh per day
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Fund Transfer Fee
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Free
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IMPS fees
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Free
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NEFT fees
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Free
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Quarterly Physical Account Statement
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Free
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Monthly Account Statement via E-mail
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Free
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Physical Account Statement Daily
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Rs. 500 per month
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Physical Account Statement Weekly
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Rs. 100 per month
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Balance Enquiry/ Cash withdrawal at own/ other domestic ATMS
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Free
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Balance Enquiry at International ATMS
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Rs. 25
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Cash withdrawal at International ATMS
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Rs. 150
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Photo Attestation/ Address Confirmation/ Signature Verification/ Balance Statement
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Free
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Duplicate Passbook
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Free
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DD/BC/PO revalidation or Cancellation
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Rs. 100
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Account Closure – When closed after 1 month and before 6 months of opening the account
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Rs. 1200
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Documentation Required for Kotak Platina Savings Account
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Document
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ID Proof
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Residence Proof
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Signature Proof
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Valid Driver’s License
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Yes
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Yes
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Yes
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Passport
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Yes
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Yes
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Yes
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Pan Card
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Yes
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No
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Yes
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Voter’s ID Card or Election Card
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Yes
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Yes
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No
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Ration Card
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No
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Yes
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No
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Utility Bill
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No
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Yes
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No
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Bank Statement
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No
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Yes
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No
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Marriage Certificate
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Yes – If photo is included
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Yes – if address is included. However, not for a woman if the account is held by her singly
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Yes – if signature is included
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College ID Card – Valid and issued by colleges that are affiliated to universities. Applicable only as a Joint Holder with a parent/ guardian
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Yes – If photo is included
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Yes – if address is included.
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Yes – if signature is included
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Postal Certificate
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Yes – If photo is included
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Yes – if address is included.
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Yes – if signature is included
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Sale Deed
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No
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Yes
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No
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Income/Wealth/Service/Sales Tax Assessment Order – should not be older than 6 months
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No
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Yes
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No
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Bank Statement – should contain the bank logo/ signed or stamped by the bank; should be printed/ internet downloaded copies are not accepted
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No
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Yes
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No
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Note: All aforementioned documents are subject to change as per the guidelines issued by RBI.
Important Points to Remember –
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All photocopies should be self-attested by the applicant.
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All photocopies must be submitted along with the original document.
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To open an account, site verification is a requirement.
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The form should only be filled with BLACK ink and all letters must be CAPITAL.
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Appropriate boxes must be ticked.
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Any overwriting or alteration must be countersigned
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Name should be entered as per the name specified in the supporting documents provided.
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Address must contain the following – city , state, PIN code
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Cash will not be accepted as an initial payment on account opening.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.
