Kotak Sanman Savings Account
What is Kotak Sanman Savings Account?
Kotak Sanman Savings Account is a specially designed banking account by Kotak Mahindra Bank for beneficiaries of government schemes and subsidies. It offers basic banking services with minimal charges and easy access to financial benefits.
Overview of Kotak Sanman Savings Account
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 Included in 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 |
IMPS | Free |
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 |
Eligibility Criteria for 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
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 - - Up to Rs. 10,000 – Rs. 2.50 - Rs. 10001 – 100000 – Rs. 5 - Rs. 100001 – 200000 – Rs. 15 - 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.
Disclaimer
Credit Card:
Credit Score:
Personal Loan:
Home Loan:
Fixed Deposit:
Copyright © 2025 BankBazaar.com.