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Kotak Sanman Savings Account

The following individuals are eligible to apply for a Kotak Sanman Savings Account –

  • Indian Residents – both sole or joint accounts are applicable
  • HUF or Hindu Undivided Families
Bank Kotak Mahindra
Category Kotak Sanman Savings Account
Average Quarterly Balance (AQB) Rs. 2000
Interest Rate Up to 6% on your savings account balance
Card Offered Classic Debit Card – Free for the first year

Services Offered with Kotak Sanman 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 Free for Net Banking

Features of Kotak Sanman Savings Account

Simple Account Monitoring Via daily/weekly/monthly/quarterly statements - Physical/ E-mail statements
Daily Purchase Limit Rs. 1,50,000
Cash Deposit – Home Location Upto 5 transactions each month or Rs 7.5 lakh for FREE
Cash Withdrawal - Home Location Free
Cash Withdrawal/ Deposit – Non Home Location Upto 5 transactions each month or Rs 3 lakh for FREE
Cheque Book Free – at-par cheque up to 15 leaves per quarter
Rewards Kotak ActivMoney – convert your savings account balance into Term Deposits to earn higher interest rates (conversion only up to a certain amount)
Extras For up to 5 transactions each month, receive free access to all domestic VISA ATMs

Fees and Charges for Kotak Sanman Savings Account

Classic Debit Card Issuance Charge Free
Classic Debit Card Annual Charge First year – Free. After that Rs. 150
Cash Withdrawal Limit Rs. 50,000
NEFT per transaction
  • Through Net Baking – Free
  • Through Bank Branch –
  1. Up to Rs. 10,000 – Rs. 2.50
  2. Rs. 10001 – 100000 – Rs. 5
  3. Rs. 100001 – 200000 – Rs. 15
  4. Above 200000 – Rs. 25
Cash Withdrawal/ Balance Enquiry – Own ATM Free
Cash Withdrawal – Other Domestic ATMs Free for first 5 transactions. After that - Rs. 17.80 per transaction
Balance Enquiry – Other Domestic ATMs Free for first 5 transactions. After that - Rs. 8.50 per transaction
Cash Withdrawal – International ATMs Rs. 150
Balance Enquiry – International ATMs Rs. 25
Balance/Interest Statement for the Current Year Free
Balance/Interest Statement for the Previous Year Rs. 100
Photo Attestation / Address Verification Rs. 50 each
Signature Verification Rs. 25
Quarterly Physical Account Statement Free
Daily Account Statement – Physical Rs. 500 per month
Weekly Account Statement – Physical Rs. 100 per month
Pass Book Free
Duplicate Pass Book Rs. 250
DD/BC/PO Revalidation and Cancellation Rs. 100
Replacement of Damaged Debit Card Free
Replacement of Lost Debit Card Rs. 200
Account Closure – when closed after 1 month and before 6 months of account opening Rs. 600
If account is Inactive for more than a year Rs. 25 per quarter
Activation on Inactive Account Free

Note: For Terms and Conditions on the aforementioned fees and charges, please contact the bank.

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

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