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  • Kotak Platina Savings Account

    Kotak Mahindra Bank Savings Account

    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
    Bank Kotak Mahindra
    Category Kotak Platina Savings Account
    Average Monthly Balance (AMB) Rs. 1 lakh
    Interest Rate Up to 6% per annum on your savings account balance
    Card Offered Free Platinum and Add On Platinum Debit Card

    Services Offered with Kotak Platina Savings Account

    Phone Banking Yes
    Net Banking Yes
    Mobile Banking Yes
    Home Banking Yes. Free up to 10 calls every month
    Cash Withdrawals Unlimited cash withdrawals at any domestic ATMs
    Demand Drafts Unlimited and free at all Kotak Bank locations
    Multi City Cheque Books Free – on par cheque books
    NEFT / RTGS / IMPS Free

    Features of Kotak Platina Savings Account

    Convenient Account Monitoring Via daily/weekly/monthly/quarterly statements - Physical/ E-mail statements
    Cash Withdrawal at Home/ Non Home Location Free
    Cash Deposit at Home/ Non Home Location Free - 10 transactions or up to Rs.15 lakh each month
    Discounts / Offers
    • 25% off on Locker Rent
    • 25% off on Best Compliments Card (Gift Cards)
    Rewards Kotak ActivMoney – convert your savings account balance into Term Deposits to earn higher interest rates (conversion only up to a certain amount)

    Fees and Charges for Kotak Platina Savings Account

    Platinum and Add On Platinum Debit Card Issuance Charge / Annual Fee Free
    Replacement of Lost card Rs. 200
    Replacement of a Damaged Card Free
    DD or Pay Order at Branch Location Free
    DD or Pay Order at non Branch Locations Free for up to Rs. 1 lakh per day
    Fund Transfer Fee Free
    IMPS fees Free
    NEFT fees Free
    Quarterly Physical Account Statement Free
    Monthly Account Statement via E-mail Free
    Physical Account Statement Daily Rs. 500 per month
    Physical Account Statement Weekly Rs. 100 per month
    Balance Enquiry/ Cash withdrawal at own/ other domestic ATMS Free
    Balance Enquiry at International ATMS Rs. 25
    Cash withdrawal at International ATMS Rs. 150
    Photo Attestation/ Address Confirmation/ Signature Verification/ Balance Statement Free
    Duplicate Passbook Free
    DD/BC/PO revalidation or Cancellation Rs. 100
    Account Closure – When closed after 1 month and before 6 months of opening the account Rs. 1200

    Documentation Required for Kotak Platina Savings Account

    Document ID Proof Residence Proof Signature Proof
    Valid Driver’s License Yes Yes Yes
    Passport Yes Yes Yes
    Pan Card Yes No Yes
    Voter’s ID Card or Election Card Yes Yes No
    Ration Card No Yes No
    Utility Bill No Yes No
    Bank Statement No Yes No
    Marriage Certificate Yes – If photo is included Yes – if address is included. However, not for a woman if the account is held by her singly Yes – if signature is included
    College ID Card – Valid and issued by colleges that are affiliated to universities. Applicable only as a Joint Holder with a parent/ guardian Yes – If photo is included Yes – if address is included. Yes – if signature is included
    Postal Certificate Yes – If photo is included Yes – if address is included. Yes – if signature is included
    Sale Deed No Yes No
    Income/Wealth/Service/Sales Tax Assessment Order – should not be older than 6 months No Yes No
    Bank Statement – should contain the bank logo/ signed or stamped by the bank; should be printed/ internet downloaded copies are not accepted No Yes No

    Note: All aforementioned documents are subject to change as per the guidelines issued by RBI.

    Important Points to Remember –

    • All photocopies should be self-attested by the applicant.
    • All photocopies must be submitted along with the original document.
    • To open an account, site verification is a requirement.
    • The form should only be filled with BLACK ink and all letters must be CAPITAL.
    • Appropriate boxes must be ticked.
    • Any overwriting or alteration must be countersigned
    • Name should be entered as per the name specified in the supporting documents provided.
    • Address must contain the following – city , state, PIN code
    • Cash will not be accepted as an initial payment on account opening.
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