Kotak Mahindra Bank Savings Account

Kotak Mahindra Bank enables its customers to open a savings bank account through two channels – online and offline. We have classified the savings account offered by Kotak Mahindra Bank into online and offline channels.

Types of Kotak Mahindra Bank Savings Account	Primary Features
Online Savings Account
Kotak 811 Digital Bank Account	Zero Balance Savings Account Virtual Debit Card
Kotak 811 Edge Digital Bank Account	Average Monthly Balance – Rs. 10,000 Platinum Chip Debit Card
Offline Savings Account
Edge Savings Account	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh Auto Sweep Facility
Junior – The Savings Account for Kids	Zero Balance Savings Account (NMC Waiver) Personalized Junior Debit Card
Pro Savings Account	Average Monthly Balance (AMB) – Rs.20,000 Free cash withdrawals from any Kotak Branch across India
My Family Savings Account	Classic or Platinum Debit Card Auto Sweep Facility Available
Classic Savings Account	Average Monthly Balance (AMB) – Rs.10,000 Free cash withdrawals at other domestic ATMs
Sanman Savings Account	Average Quarterly Balance (AQB) – Rs. 2,000 Free cash withdrawals at Kotak Bank ATMs
Ace Savings Account	Free Platinum International Chip Debit Card Daily purchase limit – Rs. 2 Lakh/Daily ATM cash withdrawal limit – Rs. 2 Lakh (Extended Withdrawal Limit – Rs. 2 lakh per day)
Grand – Savings Account	Auto Sweep & Overdraft Facility Available Priority Service & First Aid Card to get first preference at Kotak Mahindra Bank branches Doorstep banking services like cash pick-up and delivery, draft/cheque delivery, etc.
Alpha – The Savings & Investment Programme	Non-maintenance charges waived Annual maintenance charges waived
Nova Savings Account	Daily Purchase Limit – Rs.1.5 lakh; Daily Withdrawal Limit – Rs. 50,000 Average Monthly Balance (AMB) – Rs. 5,000
Silk Women’s Savings Account	Kotak Silk Debit Card 35% Discount on locker rentals for first year ATM Withdrawal Limit – Rs. 40,000 (Domestic), Rs.50,000 (International); POS Limit – Rs.2 lakh
BSBDA/Small Accounts	Zero Balance Savings Account Classic Debit Card

Kotak Mahindra Bank Online Savings Account

1. Kotak 811 Digital Bank Account

Kotak 811 Savings Account	Features
Minimum Balance Requirement	Zero Balance Savings Account
Debit Card	Virtual Debit Card
Interest Rate	Up to 3.50%
Auto Sweep Facility	Yes
Eligibility Criteria	Resident Indian above 18 years of age

Kotak 811 is a zero balance savings account, which brings the complete digital banking ecosystem to your mobile. Now you can open a savings account in less than 5 minutes with Kotak 811 from the convenience of your home/office. The primary purpose of introducing 811 is to bring you all the facilities and seamless shopping, travelling and entertainment experience with the benefits of zero balance savings account on your mobile.

Features & Benefits of Kotak 811 Savings Account

Listed below are the several features and benefits of Kotak 811 Savings Account:-

Open your savings account in no time with Kotak 811. Just fill in the details and experience mobile banking like never before Enjoy the benefit of Zero Balance Savings Account Earn up to 3.50% p.a. interest on balance maintained in your Kotak Mahindrasavings account You can complete your Full KYC by requesting a home visit for in-person verification using your Kotak mobile banking app Kotak 811 users will also get cash deposit and withdrawal facility at branch (Cheque book available on demand) Transfer funds via IMPS/NEFT/RTGS Get a complimentary Virtual Debit Card with Kotak 811 Make payments without the hassle of cash and change. Pay for your shopping, cab, groceries, home delivery & much more using Kotak 811 Train ticket booking (IRCTC) – Enjoy the convenience of booking train tickets from Indian Railway Catering and Tourism Corporation (IRCTC) using your Kotak 811 App

Kotak Mahindra Bank also offers 811 variants such as 811 Edge Savings Account to fulfil diverse needs of its customers. Those without a PAN or Aadhaar number can apply for Kotak 811 Edge account.

2. Kotak 811 Edge Digital Bank Account

Kotak 811 Edge is a savings account that brings you the best of Kotak 811 and Kotak’s regular savings accounts. This account requires a minimum balance of Rs. 10,000.

Kotak 811 Edge Digital Savings Account	Features
Average Monthly Balance (AMB)	Rs.10000
Debit Card	Platinum Chip Debit Card
Interest Rate	Up to 3.50%
Net Banking & Mobile Banking	Free
Eligibility Criteria	Resident Indian above 18 years of age

Kotak brings a complete digital experience to banking with 811 Edge Savings Account. This Kotak savings account comes with a paperless account opening experience and the minimum balance requirement (AMB) for the account is Rs. 10000.

Features & Benefits of Kotak 811 Edge Digital Account

Listed below are the several features and benefits of Kotak 811 Edge Savings Account:-

Open 811 Edge Account instantly using your Aadhaar details Average Monthly Balance (AMB) to be maintained with 811 Edge Account is Rs. 10,000 Earn up to 3.50% interest per annum on your savings account balance maintained Free net banking facilities like IMPS, NEFT & RTGS to help you go digital and cashless Get Platinum Chip Debit Card for Rs. 199 per year as annual fees

Eligibility Criteria

• Individuals of age 18 years and above
• Resident Indians

Documents Required

To apply for Kotak 811 & 811 Edge savings account you should have:

• Aadhaar card
• PAN card

Fees & Charges

Check the fees and charges of the Kotak 811 Savings Account.

Particulars	Kotak 811 Limited KYC	Kotak 811 Lite	Kotak 811 Full KYC Account	Kotak 811 Edge
Average Monthly Balance	Nil	Nil	Nil	Rs. 10,000
Funds Transfer (NEFT/RTGS/IMPS)	NEFT / IMPS: Nil (RTGS: Not available)	Outward fund transfer is not available	Nil Charges	Nil Charges
Cash Transactions (Deposit or Withdrawal)	Nil charges for 1 Deposit/month up to Rs. 10,000 (whichever is earlier). Thereafter, charged at Rs. 4.5 / 1000 with minimum Rs. 50. (Cash Withdrawal: Not available)	Nil charges for 1 Deposit/month up to Rs. 10,000 (whichever is earlier). Thereafter, charged at Rs. 4.5 / 1000 with minimum Rs. 50. (Cash Withdrawal: Not available)	Nil charges for 1 Transaction (Deposit/withdrawal) / month up to Rs. 10,000 (whichever is earlier). Thereafter, charged at Rs. 4.5 / 1000 with minimum Rs. 50.	Free up to Rs. 2 lakh or 4 transactions a month. Thereafter, charged at Rs. 4.5/1000 (min. Rs. 150)
Debit Card / ATM Charges (Virtual Debit Card) (Issuance / Annual Fee / Replacement)	Nil	Virtual Prepaid Card with Nil Charges	Nil	Not Available
Debit Card / ATM Charges (with Physical Debit Card)	Rs 199 p.a.	Not available	Rs 199 p.a.	Rs. 150 p.a.

How to Open Kotak 811 Savings Account Online

You can apply for the Kotak 811 Savings Account from the Kotak Mahindra Bank website or the Kotak Mahindra Bank mobile application.

Kotak Mahindra Bank Offline Savings Account

1. Edge Savings Account

Kotak Edge Savings Account	Features
Average Monthly Balance (AMB)	Rs.10000
Debit Card	Classic Debit Card
Interest Rate	Up to 3.50%
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

2. Junior Account

Kotak Mahindra Junior savings account is a savings account specially crafted for children. It comes with the following features and benefits:

Kotak Junior Account	Features
Average Monthly Balance (AMB)	Zero Balance Savings Account
Debit Card	Personalized Junior Debit Card
Interest Rate	Up to 3.50%
ATM Withdrawal Limit	Rs. 5000
Eligibility Criteria	Children below 18 years of age

*Debit Cards will be issued to children above the age of 10 years.

3. Pro Savings Account

Kotak Pro Savings Account	Features
Average Monthly Balance (AMB)	Rs. 20,000
Debit Card	Platinum International Chip Card
Interest Rate	Up to 3.50%
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs. 2 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

4. My Family Savings Account

Kotak My Family Savings Account covers the entire family’s banking needs with the following features and benefits:

Kotak My Family Savings Account	Features
Net Banking & Mobile Banking	Available
Debit Card	Classic or Platinum Debit Card
Interest Rate	Up to 3.50%
ATM Transaction Charges	Free ATM usage for Pro and Ace savings account holders
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

5. Classic Savings Account

Kotak Classic Savings Account	Features
Average Monthly Balance (AMB)	Rs. 10,000
Debit Card	Free Classic Debit Card
Interest Rate	Up to 3.50%
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

6. Sanman Savings Account

Sanman Savings Account offers secure access to all your banking requirements with low maintenance fees. Let’s look at the features and benefits of Sanman Account below:

Kotak Sanman Savings Account	Features
Average Quarterly Balance (AQB)	Rs. 2,000
ATM Cash Withdrawal Charges	Free (at Kotak Bank ATMs)
Interest Rate	Up to 3.50%
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs)

7. Ace Savings Account

Kotak Ace Savings Account	Features
Average Monthly Balance (AMB)	Rs. 50,000
Auto Sweep Facility	Available
Interest Rate	Up to 3.50%
Debit Card	Free Platinum International Debit Card
Eligibility Criteria	Resident Indian, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

8. Grand Savings Account

A Grand Savings Programme by Kotak Mahindra Bank is for individuals aged 55 years or more with privilege banking benefits. The features and benefits are as follows:

Kotak Grand Savings Programme	Features
Overdraft Facility	Available
Auto Sweep Facility	Available
Interest Rate	Up to 3.50%
Credit Card	Kotak Aqua Credit Card
Eligibility Criteria	Benefits available to Indian residents aged 55 years or above

9. Alpha – The Savings & Investment Programme

Alpha – The Savings & Investment Programme	Features
Non-maintenance charges	No Charges (waived)
Annual Charges of Investment Account	No Annual Chargs (Waived)
Locker rentals	15% discount with Ace
Debit Card	Available

*At present, Kotak Mahindra Bank savings account offers 3.50% per annum interest on both balances up to and over Rs.1 lakh. 

10. Nova Savings Account

Kotak Nova Savings Account	Features
Average Monthly Balance (AMB)	Rs. 5,000
Auto Sweep Facility	Available
Interest Rate	Up to 3.50%
Debit Card	Classic Debit Card
Eligibility Criteria	Resident Indian, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

11. Silk Women’s Savings Account

Kotak Mahindra Silk Women’s Savings Account is specially crafted savings account for women. It comes with the following features and benefits:

Kotak Silk Women’s Savings Account	Features
Silk ATM Withdrawal limit	Rs. 40,000 Domestic Rs. 50,000 International
Silk POS Limit	Rs.2 lakh
Interest Rate	Up to 3.50%
Debit Card	Kotak Silk Debit Card
Eligibility Criteria	Resident Indian Women en above 18 years of age (Sole or Joint Account)

12. BSBDA/Small Account

Kotak BSBDA/Small Savings Account	Features
Average Monthly Balance (AMB)	Zero Balance Savings Account
Fund Transfer	Up to 4 withdrawals in a month – Free
Interest Rate	Up to 3.50%
Debit Card	Classic Debit Card

The documentation for Kotak Mahindra Bank savings account is listed below. You need to carry latest passport size photographs, photocopy of the documents (with their originals) and are required to be presented at the time of submitting the account opening form.

Documents Required for Opening a Kotak Mahindra Bank Savings Account (For Individual)
Proof of Identity (Any one or two)	Proof of Address (Any one or two)
Aadhaar card	Electricity bill / telephone bill
PAN card	Bank account statement
Voter’s identity card	Letter from any recognised public authority
Passport	Rent agreement indicating the address of the customer accordingly registered with state government or similar registration authority
Driving license	Ration card
Job card issued by NREGA duly signed by authorised officer of the state government	Letter issued from employer (satisfaction of the bank)
Letter from a recognised public servant or public authority verifying the identity and residence of the customer to the satisfaction of the bank
Documents required for account of minor
If his / her guardian is appointed by the court then order of the same is required
In case the keeper is illiterate, birth date certificate of the minor from a competent authority
Foundations and trusts
Power of attorney granted to transact business on itself
Any officially valid documents to identify the trustees, beneficiaries, settlers and to those holding power of attorney, founders, managers, directors and their addresses
Telephone bill
Resolution of the managing body of the association or foundation

Note: This is not an exhaustive list. The bank may ask for additional documents as deemed necessary depending upon your individual applicant profile and the savings account type that you wish to avail.

If you want to open any of the offline savings accounts from Kotak Mahindra Bank which are listed above, then you can do so by visiting the nearest Kotak Mahindra Bank’s branch. In case of any queries, you can even contact them using the phone banking numbers mentioned below:

Phone Banking Numbers

1860 266 2666 In case of any emergencies like fraud reporting or card Hot listing, you can call them 24×7 on 1800 209 0000

For Kotak 811

1860-266-0811 Between 9:30 a.m. to 6:30 p.m., Mon to Sat (except holidays)

Phone Banking services from outside India (Toll Free)

USA – 1855-3656767 Australia – 001180044990000 Hong Kong – 00180044990000 U.K – 0080044990000 Canada – 18557684020 Singapore – +658001013054 UAE – 80001830148