Kotak Mahindra Bank stands as a prominent financial institution and financial services conglomerate within India. With its headquarters situated in Mumbai, the bank boasts a network of 1,780 branches and 2,963 ATMs spread across the country. Its diverse array of offerings encompasses investment banking, personal banking, general insurance, life insurance, and wealth management.
Different Types of Products and Services Provided by Kotak Mahindra Bank
Kotak Mahindra Bank with an aim to bring financial empowerment has introduced various products and services to enable every segment of the society to set aside a part of their income to handle any future financial emergencies and also to be able to borrow without much burden whenever a need arises. The different products and services of the bank are:
- Kotak Mahindra Bank Deposits
- Kotak Mahindra Bank Loans
- Kotak Mahindra Bank Cards
- Kotak Mahindra Bank Investment
- Kotak Mahindra Bank Insurance
- Kotak Mahindra Bank Banking Services
Kotak Mahindra Bank Deposits
Kotak Mahindra Bank understands the significance of financial growth and has various deposit plans for easy and worthwhile savings. Kotak Saving Account, Kotak Current Accounts, and Term Deposits are the variants under the Kotak Mahindra Bank Deposits.
Kotak Savings Account
This is a simple and convenient way to save money for the future. With easy access to funds whenever necessary, you can deposit and withdraw funds as many times depending on your needs. The various Kotak Savings Account plans are:
Type of Account | Primary Features |
811 Digital Savings Account | Resident Indians and individuals above 18 years can applyCan open the account from anywhere and anytime with just a few clicksNo minimum balance requiredEarn 4% interest p.a.No additional charges for a Virtual Debit CardFree online NEFT/RTGSSimple KYC norms |
Sankalp Savings Account | Individuals above 18 years and HUFs can open an accountFree cash withdrawal and deposit of up to Rs. 24 lacs in a monthQAB of Rs. 2500 or a Fixed Deposit of Rs. 25000Earn FD interest rates with Activ MoneyInterest concession on Gold Loan, Two-wheeler loan and tractor financeComplimentary talktime offer from Jio |
Everyday Savings Account | Resident Indians, HUFs and foreign nationals residing in India are eligible to open the accountWaiver of non-maintenance of balance charges on transacting 30 times a month or maintaining an AMB of Rs. 20000Everyday RuPay Debit Card will be issuedRewards for achieving transaction milestonesSpecial offers on birthdays |
Ace Savings Account | Resident Indians, HUFs and foreign nationals residing in India are eligible to open the accountAMB: Rs. 50000Interest at 4% p.a.Facility to convert the SB account balance above a certain limit to a fixed deposit to earn higher returnsNo charges for outstation cheque collection25% discount on Best Compliments (Gift) CardsFree at-par cheque booksFee add-on Platinum International Debit CardFree Doorstep Banking Unlimited free at Kotak Bank locations15% discount on locker rent |
Grand Savings Programme | Resident Indians above 55 years of age can applyEarn up to 1500 Kotak Reward Points on your Grands Savings AccountDoorstep banking services will be providedCan earn a higher interest rate by converting the balance in the account above a threshold limit to a fixed deposit |
NRE Rupee Savings Account | Especially designed for NRis, PIOs, Students pursuing studies abroad and anyone who fits into the NRI definition.Remittances into India by way of cheque, wire transfer or Click2RemitAQB: Rs. 10000Preferential forex rates for transactions above USD 10000 or rupee equivalentBoth principal and interest are repatriableGlobal Debit Card will be issuedSweep-in and Sweep-out facilityTax exemption on both principal and interest in IndiaThe account can be held jointly by NRIs and PIOs |
NRO Rupee Savings Account | Especially designed for NRis, PIOs, Students pursuing studies abroad and anyone who fits into the NRI definition. Remittances into India by way of cheque, wire transfer or Click2RemitAQB: Rs. 10000Preferential forex rates for transactions above USD 10000 or rupee equivalentInterest is fully repatriable after paying the tax |
Other Savings Account
811 Edge Digital Bank Account | Pro Savings Account |
Edge Savings Account | Silk Savings Programme |
Junior-The Savings Account for Kids | My Family Savings Account |
Classic Savings Account | Nova Savings Account |
Alpha-The Alpha and Investment Programme | NRE Platina Saving Account |
NRO Platina Account | NRE Mariner Savings Account |
Kotak Mahindra Bank Current Account
You can empower your business transactions with customised variants. The types of Kotak Mahindra Current Accounts are:
Type of Account | Primary Features |
Neo Current Account | Individuals and business entities are eligible to open an account AQB: Rs. 10000Free cheque collection through Speed Collection Faster outstation cheque collection Free cash withdrawal at non-home branches up to Rs. 10000 a day Free Online NEFT/RTGS Kotak Net Banking, Mobile Banking, and SMS Banking Services Better forex rates Unsecured overdraft facility up to Rs. 15 lacs for short-term business needs |
PRO Current Account | AQB: 50000Business Gold Card Debit CardUnsecured overdraft facility up to Rs. 15 lacs for short-term business needsFree cheque collection through speed clearingFree at-par cheque facilityFree cash withdrawal at non-home branches up to Rs. 50000Kotak Net Banking, Mobile Banking, and SMS Banking servicesFree cash withdrawal at base branches |
Startup Regular Current Account | No minimum balance requiredPreferential pricing on import/export servicesMaker-checker facility for safe digital transfersFree NEFT/RTGSOutward cheque return charges waived for 3 instruments in a month |
Other Kotak Mahindra Bank Current Accounts
Online Current Account | Activ Money Current Account |
Startup Premium Current Account | Astra 15 Current Account |
Merchant One Current Account | Edge Current Account |
Ace Current Account | Elite Current Account |
Global Trade Current Account | Merchant One Premium Current Account |
Astra 05 Current account | NRE/NRO Rupee Current Account |
Kotak Mahindra Bank Cards
Kotak Mahindra Bank has a range of Kotak Debit Cards and Credit Cards to choose from:
Kotak Mahindra Bank Debit Cards
- Privy League Neon
- Privy League Black
- Privy League Platinum
- Infinite Debit Card
- Signature Pro Debit Card
- 811 Dream Different Debit Card
- RuPay Debit Card
Kotak Mahindra Bank Credit Cards
- Mojo Platinum Credit Card
- Myntra Kotak Credit Card
- League Platinum Credit Card
- Kotak 811 Credit Card
- IndianOil Kotak Credit Card
- Zen Signature Credit Card
Kotak Mahindra Bank Loans
Kotak Mahindra Bank has a loan for every need. The types of Kotak Mahindra Bank Loans are:
Type of Loan | Primary Features |
Home Loan | For the purchase/repurchase of a flat or house, construction of a house, renovation and repairs to the existing property, and transfer of home loan balances from other banksAttractive interest ratesMinimal documentationAmount: Need-based and commensurate to income and repayment capacityTenure: Maximum 25 years |
Personal Loan | For any personal financial emergencyAmount: Rs. 40 lakhsTenure: Up to 6 yearsInstant loans up to Rs. 5.00 lacs are also permitted |
Car Loan | Customised financing to suit individual requirementsAmount: Need-based and depends on income and repayment capacity |
Education Loan | For studies both in India and abroadRs. 10 lacs for inland studies and Rs. 20 lacs for studies abroadMinimal documentation |
Other Kotak Mahindra Bank Loans
Gold Loan | Pay Day Loan |
Loan against security | Smart EMI |
Business Loan | Digi OD |
Construction Equipment/Infrastructure Finance | Loan against property |
Kotak Mahindra Bank Investment
Kotak Mahindra Term Deposits are investment options with lucrative and guaranteed returns:
Type of Deposit | Primary Features |
Regular Fixed Deposit | Minimum Deposit: Rs.5000Tenure: 7 days to 10 yearsMonthly/quarterly interest payout option available |
Senior Citizen Fixed Deposit | Minimum Deposit: Rs. 5000Tenure: 7 days to 10 yearsMonthly/Quarterly interest payout option |
Recurring Deposit | Provision for significant savings with a small fixed investment every monthEasy payment options by debit to Savings AccountTenure: 6 months to 120 months |
Tax Saving Fixed Deposit | Tax saving under Section 80C on amounts between Rs. 100 to Rs. 1.50 lacsTenure: 5 yearsA quarterly interest payout option is availablePremature/partial withdrawal is not permitted |
Sweep-in facility | Link your Kotak Savings Account or Current Account to a Fixed DepositEarn higher interest by converting an amount beyond the threshold limit to a Fixed Deposit |
NRE Fixed Deposit | Minimum Deposit: Rs. 50000Auto-renewal facility is providedBoth interest and principal are repatriable |
NRO Fixed Deposit | Minimum Deposit: Rs. 50000Auto-renewal of fixed depositsInterest earned on the deposit is fully repatriable after paying the taxTenure: 7 days to 120 months |
FCNR Deposit | USD, EURO, GBP, YEN, AUD, and SGD are the permitted currenciesFully repatriableCan be opened by debiting transferring amounts from NRE accounts or through foreign inward remittancesTenure: 1 to 5 yearsInterest and principal are exempted from tax in India |
Kotak Mahindra Bank Banking Services
The following banking services are provided by the bank for the convenience of its customers:
- Kotak Net Banking: To conduct funds transfer, draw Kotak Mahindra Bank Statement, manage debit cards, request DDs, request cheque books, and many more in the comfort of their home using the Internet.
- Mobile Banking: For convenient financial and nonfinancial transactions like funds transfer, downloading Kotak Mahindra Bank Statement, tracking cheque status, viewing account balance, paying utility bills, etc., through your smartphone, the bank has provided a mobile application. You will have to download the app onto your smartphone and register for mobile banking to use the services.
- SMS Banking: You can send an SMS to the Kotak Mahindra Bank Balance Check Number 9971056767 or 5676788 in the designated format for account balance, mini-statement, Kotak Mahindra Bank Statement, cheque status, request a new cheque book, etc
- Missed Call Service: Give a missed call to Kotak Mahindra Bank Balance Check Number 1800 274 0110 and get your account balance via SMS
Kotak Mahindra Bank Customer Care
You can contact the Kotak Mahindra Bank Customer Care through the channels mentioned below
- Call the Kotak Mahindra Bank Customer Care Number 1800 266 6666 for round-the-clock service for any account-related queries and information about banking products
- Call the Kotak Mahindra Bank Customer Care Number 1860 261 811 to contact the 811 team between 9.30 am and 6.30 pm from Monday to Saturday except on bank holidays
- Call the Kotak Mahindra Bank Customer Care Number 1800 209 5732 for queries regarding car and two-wheeler loans from Monday to Friday between 9.30 am to 6.30 pm except on bank holidays
Kotak Mahindra Bank FAQ’s:-
ActivMoney is the sweep-in facility where idle funds in your SB accounts can earn FD interest rates while you have free access to funds whenever you need them.
For a balance below Rs. 50.00 lacs the interest will be 3.50% p.a.and for a balance above Rs. 50.00 lacs the interest will be at 4% p.a.
In select cases, premature withdrawal is permitted with a penalty as per prevailing guidelines.
No. One Kotak Savings Account can be linked to one fixed deposit only.
The toll-free Kotak Mahindra Bank Customer Care number is 1800 266 6666.