Host of benefits and privileges, all tailored to meet the financial needs of Government, Defence and Public sector employees
Lifetime Zero Balance Account
Earn 3.50% interest p.a. on your account balance (1)
Partial disability cover up to Rs. 30 Lacs^
Avail up to 3 Zero Balance Family Savings Account (2)
Platinum Debit Card with Rs. 50,000 ATM Withdrawal and Rs. 3,00,000 Shopping limit per day
1) W.e.f. Sep 20, 2021, daily balances in Savings Account up to Rs. 1 lakh will continue to earn 3.50% p.a. interest. Interest rate on daily balances in Savings Account above Rs. 1 lakh stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.
2) Family Savings Account with zero maintenance charges. Family savings account will be opened with an initial payment cheque of Rs. 10,000.
3) Office / Home Banking – Cheque Pick Up / Delivery - Up to 10 office and home banking instance free every month; Cash Pick Up / Delivery – 50% of charges up to 1 request per month basis standard charge.
4) Personal Loan and Home Loan - Conditions apply. Credit at sole discretion of Kotak Mahindra Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.
5) #Terms & Conditions Apply. Credit at the sole discretion of Kotak Mahindra Bank Ltd. and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets. ₹1 per day is calculated on a minimum loan amount of ₹3000 for 365 days at interest rate of 10% p.a. This amount may vary based on customer loan amount, tenure, and interest rate. Advance on salary/Early Salary is where one can avail up to 50% of their net salary as an advance with PayDay Loan.
6) Car Loan and Car Lease disbursement will be subject to complete documentation and credit at the sole discretion of Kotak Mahindra Prime Ltd. Kotak Mahindra Prime is a subsidiary of Kotak Mahindra Bank Ltd. Car Loans available at select locations only.
7) Issuance of credit cards is at the sole discretion of Kotak Mahindra Bank Limited. All features and benefits are subject to Credit Card terms and conditions. Please read the Credit Card terms and conditions carefully provided on the bank website www.kotak.com.
8) Bank account is offered by Kotak Mahindra Bank Ltd., whereas Demat and Online trading accounts are offered by Kotak Securities.
^ Eligibility criteria for availing the insurance cover benefit: Customer should be employed with Government, PSU, Defence, Para-military or Police entity (Not applicable for retired personnel). Salary should be credited in Kotak Account for last 2 consecutive months prior to the month of the claim. Partial Disability cover and Total Permanent Disability cover applicable for cases resulting solely from Road / Rail accident. Education benefit of Rs. 4,00,000/- for 1 depended child up to age 25, payable onetime only.
9) Reimbursement Account is offered as part of the Salary Account. Reimbursement Account shall be closed in case the Salary Account is closed or moved to any other scheme code.
Disclaimer - W.e.f. Sep 20, 2021, daily balances in Savings Account up to Rs. 1 lakh will continue to earn 3.50% p.a. interest. Interest rate on daily balances in Savings Account above Rs. 1 lakh stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.