Kotak Mahindra bank is a significant private sector bank in India, with its headquarters in Mumbai. Kotak was founded in 2003 and provides individuals, corporations, and retail consumers with a wide range of banking products and financial services. Kotak is India’s third largest private bank, with approximately 1348 bank branches and 2051 ATMs scattered all over India.
Kotak Mahindra bank updates its technology on a regular basis and provides a variety of online services to its consumers. Kotak has introduced a handy phone banking solution to allow its customers who do not have internet access to maintain a track of their accounts. Customers can use phone banking to conduct a variety of banking transactions without having to visit a bank. With their tagline ‘Your nearest Kotak Mahindra Bank is on your phone,’ they have gotten a lot of clients to use phone banking to keep track of their accounts.
Features and benefits of Kotak Mahindra Phone Banking
- Kotak Mahindra Phone Banking can be accessed anywhere.
- It saves a lot of time as customers can carry out their banking activities without visiting a bank.
- The phone banking service employs high security measures like a 6-digit PIN.
- Kotak Mahindra Bank offers a quick and efficient Interactive Voice Response System with self-service option.
- Kotak Mahindra Bank also offers 24 hours customer care support to all their customers.
Who can avail Kotak Mahindra Bank Phone Banking?
These customers of Kotak Mahindra Bank can avail the bank’s phone banking facility:
- Savings account customers.
- Customers who have term deposits, demat account, current account are eligible to register for Kotak Mahindra Bank phone banking.
- Customers who have a loan with Kotak Mahindra Bank can avail phone banking.
- Customers who have any investments or credit card with Kotak Mahindra Bank can avail phone banking service from Kotak Mahindra bank.
How secure is Kotak Mahindra Bank phone banking?
Kotak Mahindra phone banking is highly secure as it has the following security features:
- Pin security: Although phone banking is easy to access, it is very secure as Kotak Mahindra Bank provides a unique customer relationship number and a 6-digit phone banking pin to all their customers. Only when the customer enters the customer relationship number and the 6-digit phone banking pin, they will be allowed to access their account. Without these details, the customer will not be able to connect with one of the customer care officers.
- Pin change option: First time Kotak Mahindra Bank customers will be asked to change their default PIN when they call for the first time. This is a system generated process and every customer will be asked to change their PIN by default for security purposes. Customers will be allowed to change their PIN at any point of time if they think their PIN has been leaked.
- PIN generation: To encourage customers who have never used phone banking, customer care officers at Kotak Mahindra Bank help customer who have forgot their phone banking PIN by regenerating it. This way none of the customers would have to give up on the phone banking service offered if they forget their PIN.
- Non-usage of TPIN: Phone banking access is blocked automatically if a customer does not use the phone banking PIN for more than 720 days. This is done for security purposes. Once the phone banking access is denied, customers should call the bank and one of the customer care officer will reset it for them.
How to register for Kotak Mahindra Bank Phone Banking?
- Customers should download the channel access request form from the bank’s website. Please note that there are separate channel access request forms for individuals and for other entities.
- Fill the channel access request form completely
- Submit the duly-filled channel access request form through ATM, bank branch, or post.
What are the services offered through Kotak Mahindra Bank Phone Banking?
The phone banking services offered by Kotak Mahindra Bank differs from one customer to another. Some of the general services offered are as follows:
- Check account details, balance available, cheque status, and pending funds
- Register for net banking service
- Know the changes in the interest rates and exchange rates
- Request a cheque book
- Print account statements
- Open a term deposit
- Update stop cheque payment instructions
- Initiate fund transfer
- Pay your bills using bill pay facility
Phone banking services for credit card holders
Customers who have a credit card with Kotak Mahindra Bank can make use of following services:
- Check your credit card outstanding amount
- Check your transaction history, payment status, and other information about your credit card
- Pay your Kotak Mahindra credit card bills online
- Request for the account statements
- Request information about EMI, balance transfer, and personal loans on your credit card
Phone banking services for demat account holders
Kotak mahindra bank customers who have a demat account with the bank can avail the following services:
- Request to open a demat account
- Request for a copy of your demat account transaction
- Request for a holding statement
- Get a copy of your transaction history or holding details
Phone services services for investment account holders
Investment account holders of the bank can use these following phone services:
- Request for transaction history and account details
- Purchase or redeem mutual funds units
- Get the current NAV details of your investments
- Check the status of your purchase or redemption request
Phone services services for loan account holders
Loan account holders of Kotak Mahindra Bank can use the services mentioned below:
- Check your loan account and the outstanding amount
- Request for repayment schedule
- Request for interest certificate
For more information about Kotak Mahindra Bank phone banking service or to register, call 1860 266 2666.
GST of 18% is applicable on all banking products and services from July 1, 2017 onwards.