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Kotak Mahindra Bank Jifi Account

The Jifi account offered by Kotak Mahindra Bank is a new-age digital account that provides ease of use and convenience to the account holder. You can access your savings account at any time and perform hassle-free transactions.

Updated On - 03 Oct 2025
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There is no minimum balance requirement for the Jifi account. The Jifi Saver variant, however, has a minimum balance requirement of Rs.10,000.

Jifi has also made banking social as account updates can be received through Twitter. It is possible to add friends to your Jifi network and gain reward points for performing online transactions as well.

Features and Benefits of Jifi Account:

The key features and benefits of the Jifi account offered by Kotak Mahindra Bank are as follows:

  1. There are no minimum balance limits on the Jifi account. It is a non-interest bearing current account.
  2. When the average balance exceeds Rs.25,000, an Auto Term deposit is created.
  3. The customer receives the benefits of Hashtag Banking, i.e., prepaid mobile and DTH recharge facilities, cheque book requests, account updates, etc. through tweets.
  4. Customers become part of the loyalty club, and receive reward points for social updates and transactions.
  5. Account holders receive a free Jifi Platinum Chip Debit Card for the initial year.
  6. The account holder can earn extra transaction points for all purchases that are done through the Jifi Platinum Debit Card at the website kotakrewards.com.
  7. Customers can earn rewards by referring friends to Jifi.
  8. Customers can keep track of their expenses with a platinum subscription of Kotak MoneyWatch for 1 month.
  9. Account holders receive access to the mobile banking and offers app that facilitates banking on the go.
  10. Transactions can be performed through NEFT, free of any charges, using the net banking facility.

Fees and Charges:

The fees and charges applicable to Kotak Mahindra Bank Jifi account are as detailed below:

Particulars

Charges

Banker's cheque or demand draft payable at branch locations

Rs.1/Rs.1000 (minimum of Rs.40 and maximum of Rs.5000)

Banker's cheque or demand draft payable at non-branch locations

Rs.2/Rs.1000 (minimum of Rs.40 and maximum of Rs.5000)

RTGS through bank branch

  1. For transaction of Rs.2 lakh to Rs.5 lakh : Rs.25 per transaction
  2. For transaction greater than Rs.5 lakh : Rs.50 per transaction

RTGS through net banking

Nil

NEFT through bank branch

  1. For transaction of up to Rs.10,000 : Rs.2.5 per transaction
  2. For transaction between Rs.10,000 and Rs.2 lakh : Rs.5 per transaction
  3. For transaction greater than Rs.2 lakh : Rs.25 per transaction

NEFT through net banking

Nil

Fund transfer at branch and through net banking

Nil

Cheque book

Rs.5 per cheque leaf

Local clearing cheque or intercity clearing cheque

Nil

Out-station cheque (at non-speed clearing branches) drawn at Kotak branch and non-branch locations

  1. For transactions less than Rs.10,000 : Rs.100 per cheque
  2. For transactions between Rs.10,000 and Rs.1 lakh : Rs.50 per cheque
  3. For transactions above Rs.1 lakh : Rs.25 per cheque

Out-station cheque (at speed clearing branches)

Nil

RTGS, NEFT, and fund transfer inward

Nil

On call requests such as cheque pick-up/Cash pick-up or delivery/DD Delivery

  1. For cheque/DD : Rs.75 per request
  2. For cash less than Rs.2 lakh : Rs.200 per request
  3. For cash between Rs.2 lakh and Rs.5 lakh: Rs.400 per request

Cash deposits or withdrawals at home branch or non-home branch locations

Rs.5 per Rs.1,000, with a minimum of Rs.100 per transaction

Cash withdrawal or balance enquiry at Kotak ATMs

Nil

Balance enquiry at other bank's VISA ATMs - International

Rs.25 per transaction

Cash withdrawal at other bank's VISA ATMs - International

Rs.150 per transaction

ATM transactions declined due to insufficient funds - Kotak ATM

Nil

ATM transactions declined due to insufficient funds - Non Kotak ATM

Rs.25 per transaction

Primary card with Platinum chip - Issuance fee

Free

Primary card with Platinum chip - Annual fee

Free for the first year. Subsequently, Rs.199 per annum.

Add-on card with Platinum chip - Issuance fee

Free

Add-on card with Platinum chip - Annual fee

Free for the first year. Subsequently, Rs.199 per annum.

Card replacement for lost card

Rs.200

Card replacement for damaged card

Nil

Visa Global Assist

USD 5

Visa Global Assist for lost card

USD 35

POS transactions declined

Nil

Account closure charges

Nil

Local cheques deposited and returned - outward

Rs.150 per cheque

Out-station cheques deposited and returned - outward

Rs.150 per cheque + Corr bank charges

Cheques issued and returned (inward) and ECS returns - financial reasons

  1. Upto 3 returns : Rs.350 per instance
  2. From the fourth return onwards : Rs.750 per instance per month

Cheques issued and returned (inward) and ECS returns - technical reasons

Nil

Daily and weekly balance updates, transaction details and value-added alerts

  1. Transaction : Nil
  2. Balance weekly : Nil
  3. Balance Daily : NA

Phone banking

Nil

Account statements (physical or email) - Monthly

  1. Physical : Rs.75 per quarter
  2. Email : Nil

Annual combined statement - Physical

  1. Through net banking : Nil
  2. Through branch : Rs.85
  3. Through phone banking : Rs.110

Ad-hoc statement requests - at branch or through phone banking

  1. Less than 90 days : Rs.150
  2. Between 91 and 365 days : Rs.100
  3. Greater than 365 days : Rs.100

Ad-hoc statement requests - through net banking or ATM

Rs.50

Ad-hoc statement requests - through mobile banking

Nil

Standing instruction - Setup

Rs.100

Standing instruction - Execution

Nil

Standing instruction - Amendment

Rs.25

Standing instruction - Failure

Rs.25

Balance statement, other than 31st March

  1. For current year : Rs.100
  2. For previous year : Rs.200

Interest statement, duplicate only

  1. For current year : Rs.100
  2. For previous year : Rs.200

TDS Certificate, duplicate only

Rs.100

Signature verification

Rs.50

Photo attestation

Rs.100

Address confirmation

Rs.100

Foreign currency payments and collections - DD issuance

Rs.500

Foreign currency payments and collections - DD cancellation

Rs.500

Foreign currency payments and collections - DD revalidation

Rs.500

Foreign currency payments and collections - TT transfer, when corr bank charges are borne by the beneficiary

Rs.250

Foreign currency payments and collections - TT transfer, when corr bank charges are not borne by the beneficiary

Rs.1,000

Foreign currency payments and collections - cheque collection

Rs.500

Foreign currency payments and collections - cheque deposited and returned

Rs.1,000

Foreign currency payments and collections - Cheque issued and returned (financial reasons)

Rs.1,000

Foreign currency payments and collections - Cheque issued and returned (technical reasons)

Nil

PIN regeneration

Rs.50

DD/BC cancellation or revalidation

Rs.100

Fund transfer return - Financial reasons

Rs.300

Fund transfer return - Technical reasons

Nil

Cheque purchase charges

Rs.0.5 per Rs.1,000, per day (minimum of Rs.50 and maximum of Rs.10,000)

TOD charges

Rs.500

Stop payment

Rs.100, free through net banking

Inoperative account charges

Nil

Activation of inoperative account

Nil

Record retrieval charges

Rs.100 per request

Service tax on foreign currency conversion charges

  1. Up to Rs.1 lakh : Higher among 0.150% of the gross value and Rs.37.50
  2. Between Rs.1 lakh and 10 lakh : Rs.150 plus (0.0750% of the amount that exceeds Rs.1 lakh)
  3. Above Rs.10 lakh : Rs.825 plus (0.0150% of the amount that exceeds Rs.10 lakh)
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Eligibility:

In order to apply for the Kotak Mahindra Jifi account, a customer needs to fulfill the following criteria:

  1. He/she should have completed 18 years of age.
  2. He/she should be a resident Indian. This is applicable for single and joint accounts.

FAQs on Kotak Mahindra Bank Jifi Account

  • How can I refer my friends for the Jifi account?

    You can refer your friends for the Jifi account through Facebook. Alternatively, you can share a unique email link for referral. This email will be generated when you send them an invitation by clicking on the 'Refer Friends' option on your Jifi dashboard.

  • How do I receive rewards for friend referrals?

    The referral rewards are provided when you refer your friends to Jifi and their account is opened. Even if your friend does not open a Jifi account, you can still redeem the social points that you earn. When your friend opens a Jifi account through referral, you are eligible for 1,000 transaction points, capped to a maximum limit of 25 successful referrals per year.

  • How can I earn social points?

    You can earn social points in the following ways:

    1. By inviting your friends to your Jifi circle.
    2. Rewards are provided for social activities, such as commenting on and liking Kotak Jifi and Kotak Bank Facebook pages.
  • What are transaction points?

    Transaction points are reward points that you earn by making online purchases using your Jifi Platinum Debit Card. You also earn transaction points through the activities in your social circle. You can earn these points in the following ways:

    1. By making an online transaction such as a purchase or bill payment. Transaction points are offered up to 6 transactions per month.
      1. For Jifi Saver - 60 transaction points are earned on a minimum transaction value of Rs.1,000.
      2. For Jifi - 100 transaction points are earned on a minimum transaction value of Rs.500.
    2. After referring your friends to the Jifi network, you receive 1,000 points once their Jifi account is activated.
  • Which online transactions are not eligible for transaction points?
    1. Transaction points are not given for any NEFT, RTGS, or IMPS fund transfers.
    2. Fund transfers through email requests or KayPay are also not awarded transaction points.
    3. Credit card payments are not eligible for earning transaction points.
    4. Transfer of money from one Kotak account to another does not earn transaction points.
  • What is the value of a transaction point?

    Every transaction point you earn is worth Rs.0.25.

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