Kotak Savings Account

Kotak Mahindra Savings Account Interest Rate

Kotak Bank offers its customers the following interest rates on savings accounts:

Note: The Kotak interest rates are subject to change.

Types of Savings Accounts in Kotak Mahindra Bank

Kotak Mahindra offers various types of savings accounts to meet their various needs.

1. Everyday Savings Account

   A smart savings account under which you can save your money and also get amazing offers on deals with leading brands.

   • Savor special offers and discounts on brands like Zomato, BookMyShow, MakeMyTrip, etc.

   • Avail gift vouchers of ₹250 on birthdays or anniversaries with the bank.

   • Favorable insurance covers.

   • ATM maximum withdrawal amount up to ₹1,00,000.

2. 811 Digital Bank Account

   An online savings account that enables you to easily manage your savings through internet and mobile banking features.

   • Zero balance digital savings account.

   • Zero annual charges.

   • Free virtual debit card.

   • No penalties for not maintaining a minimum balance.

   • Easy funds transfer through NEFT, RTGS, or IMPS.

3. 811 Edge Digital Bank Accounts

   A digital bank account that offers an interest rate of up to 4% p.a.

   • Average Monthly Balance: ₹10,000.

   • Exclusive platinum chip debit card for ₹199 only.

   • Fund transfers through NEFT, RTGS, or IMPS.

   • 25 cheque leaves per quarter.

4. Grand Savings Account

   A bank account designed to make the banking experience of Indian citizens aged 55 years and above comfortable and convenient.

   • FD-like interest rate up to 7% p.a.

   • Cash pickup/delivery service.

   • AutoPay and pay bills facility directly from the account.

   • Non-maintenance charge waiver.

5. Silk Savings Account

   This savings account is designed to provide the best banking facilities to women.

   • Provides amazing offers in finance, health, lifestyle, etc., to empower women.

   • Offers on deals with popular brands through the Silk Platinum Debit Card.

   • Rewards on purchases through the Platinum Debit Card.

   • Earn more: FD-like rates on your savings.

6. Junior Savings Account

   This is a special savings account designed for children in order to build the habit of savings in these young minds.

   • Offers multiple privileges, including edutainment and shopping.

   • Operated jointly by parents or guardians.

   • Up to 3.5% interest rate on savings.

   • Debit card facility available.

7. Civil Pension Account

   An advanced savings account that caters to the needs of Central Government pensioners.

   • Designed for civil pensioners above the age of 55.

   • Pensions credited directly into savings accounts.

   • Enjoy a waiver on the non-maintenance charge.

   

8. My Family Savings Account

   This is a joint savings account that enables families to manage their basic banking needs under one primary account.

   • 2, 3, 4, and/or 6 members can utilize one account.

   • Cash pick-up and delivery services.

   • Pro and Ace savings account holders can avail the free ATM usage service.

   • Net Banking and Mobile Banking app options available.

9. Sankalp Savings Account

   The Sankalp Savings Account is specially designed to meet the needs of emerging India.

   • Greater cash deposit/withdrawal facility.

   • Low maintenance fee.

   • Average quarterly balance is ₹2,500 and ₹5,000 for rural and semi-urban areas, respectively.

   A "classic savings account" is a basic savings account offering standard banking features like earning interest on deposits, easy access to funds, and often a debit card for transactions. These accounts are for general savings and everyday banking needs.

10. Classic Savings Account

    This is a basic savings account, designed to cater your general savings and day-to-day banking needs.

    • Comfortable balance requirement.

    • Relationship manager who prioritizes your needs first.

    • Average monthly balance: ₹10,000.

    • Zero-cost cash withdrawals at other domestic ATMs.

11. Pro Savings Account

    A Pro Savings Account that offers special benefits to its customers so that they get an unmatched banking experience.

    • Average monthly balance: ₹20,000.

    • No access to all domestic VISA ATMs.

    • Zero-cost Demand Drafts of up to ₹1 lakh a month.

    • Free Home Banking Facility under certain conditions.

    An Edge Savings Account is a type of savings account that offers a blend of regular savings account features with some added benefits, often including free access to ATMs and other premium services. It's designed to provide a more comprehensive banking experience compared to a basic savings account.

12. Edge Savings Account

    This savings account provides you with daily savings account features, along with added benefits, including free access to ATMs and other premium services, making it a comprehensive savings account.

    • Zero-cost access to domestic VISA ATMs.

    • No-charge Phone Banking.

    • Up to 25 free cheque leaves a year.

    • ActivMoney: Auto-convert excess savings to Term Deposits.

13. Nova Savings Account

    The Nova Savings Account allows you to enjoy banking flexibility based on your individual needs.

    • Average monthly balance: ₹5,000.

    • ActivMoney: Auto-convert excess savings to Term Deposits.

    • Enjoy an interest rate of up to 3.5% p.a.

14. Alpha Savings Account

    This unique account offers the benefits of investing in multiple options all in one place.

    • Invest in NPS, RDs, FDs, Mutual Funds etc.

    • Minimum tenure for investment: 36 months.

    • Benefits of a non-maintenance charge waiver.

Steps to Open a Savings Bank Account

You can open your Kotak savings account by following the given steps:

• Check eligibility to open the specified savings account.

• Collect important documents.

• Fill the application form at the nearest bank branch.

• Complete the one-time password verification.

• Start using your savings account.

Benefits of Kotak Savings Account

Kotak Mahindra savings accounts comprise the following benefits:

• Instant account opening

• Multiple product offerings

• Facility such as Auto sweep

• Up to 7% p.a. FD-like interest rates on deposits

• Daily offers on shopping, edutainment, dining, and more

• 24x7 banking as per your convenience

• Health Insurance coverage

Eligibility Criteria to Apply for the Kotak Mahindra Bank Savings Account

The following candidates are eligible to open a savings account at Kotak Mahindra Bank:

• A resident of India

• Candidates who are at least 18 years of age.

Documents Required to Apply for the Kotak Mahindra Bank Savings Account

The following documents are required to be submitted to open a new savings account at Kotak Bank:

• ID proof: Driving License, Passport, Aadhaar Card, Voter's ID, etc.

• Address Proof: Aadhaar Card, Voter's ID, Passport, Driving License, Utility Bill, Bank Statement, Updated Bank Account Passbook

• Signature Proof: Driving License, Passport, PAN Card

• Latest Passport Size Photographs

What are the Charges Associated with the Kotak Mahindra Bank Savings Account?

Minimal debit card charges are to be paid to experience an exclusive and unstoppable banking experience.

Debit Card Charges

Rs. 0 - Rs. 750

Conclusion

A savings account is the first step to saving and growing your money. Its liquidity feature makes it a highly prioritized investment option for a wide range of audiences. Kotak Bank offers you multiple benefits on its various savings accounts to equip you with a banking experience like never before. Open your savings account today.

Bank FD Interest Rates

Bank FD Calculator

NRI-NRE FD Rates

Allahabad Bank FD Rates

Andhara Bank FD Rates

Assam Gramin Vikash Bank FD Rates

AU Small Finance Bank FD Rates

Axis Bank FD Rates

Bajaj Finance FD Rates

Bandhan Bank FD Rates

Bangiya Gramin Vikash Bank FD Rates

Bank of Baroda FD Rates

Bank of Ceylon FD Rates

Bank of Maharashtra FD Rates

Baroda Gujarat Gramin Bank FD Interest Rates

BOI FD Interest Rates

Canara Bank FD Rates

Capital Small Finance Bank FD Rates

Central Bank of India FD Rates

Citi Bank FD Rates

City Union Bank FD Rates

Corporation Bank FD Rates

Dakshin Bihar Gramin Bank FD Rates

DBS Bank FD Rates

Dena Bank FD Rates

Dhanlaxmi Bank FD Rates

Equitas Bank FD Rates

ESAF Small Finance Bank FD Rates

HDFC FD Interest Rates

HSBC FD Rates

ICICI Bank FD Rates

IDBI Bank FD Rates

IDFC Bank FD Rates

Indian Bank FD Rates

Indian Overseas Bank FD Rates

IndusInd Bank FD Rates

Jana Small Finance Bank FD Rates

Karnataka Bank FD Rates

Kerala Bank FD Interest Rates

Kotak FD Rates

Lakshmi Vilas Bank FD Rates

Muthoot Capital FD Rates

Nainital Bank FD Rates

Odisha Gramya Bank FD Rates

Paschim Banga Bank FD Rates

Paytm FD Rates

PNB FD Interest Rates

Prathama UP Gramin Bank FD Rates

RBL Bank FD Rates

Saurashtra Gramin Bank FD Interest Rates

SBI FD Interest Rates

Shriram Finance FD Rates

State Bank of Hyderabad FD Rates

State Bank of Mysore FD Rates

State Bank of Travancore FD Rates

Syndicate Bank FD Rates

Tamil Nadu Grama Bank FD Interest Rates

Telangana Grameena Bank FD Rates

Tripura Gramin Bank FD Interest Rates

UCO Bank FD Rates

ujjivan small finance bank fd rates

Union Bank FD Rates

Uttar Bihar Gramin Bank FD Rates

Uttarakhand Gramin Bank FD Interest Rates

Vijaya Bank FD Rates

Yes Bank FD Rates

Expand

Allahabad Bank FD Calculator

Andhra Bank FD Calculator

AU Bank FD Calculator

Axis Bank FD Calculator

Bajaj Finance FD Calculator

Bandhan Bank FD Calculator

Bank of Baroda FD Calculator

Bank of India FD Calculator

Bank of Maharashtra FD Calculator

Canara Bank FD Calculator

Central Bank FD Calculator

Corporation Bank FD Calculator

Equitas Small Finance Bank FD Calculator

HDFC Bank FD Calculator

ICICI Bank FD Calculator

IDBI Bank FD Calculator

IDFC Bank FD Calculator

Indian Bank FD Calculator

Indian Overseas Bank FD Calculator

IndusInd Bank FD Calculator

Karnataka Bank FD Calculator

Karur Vysya Bank FD Calculator

Kotak Bank FD Calculator

Mahindra Finance FD Calculator

OBC Bank FD Calculator

Odisha Gramya Bank FD Calculator

PNB Bank FD Calculator

SBI FD Calculator

Shriram Finance FD Calculator

Syndicate Bank FD Calculator

Tripura Gramin Bank FD Calculator

UCO Bank FD Calculator

Union Bank FD Calculator

Yes Bank FD Calculator

Expand

HDFC NRE FD Rates

Maybank Malaysia FD Rates

SBI NRI FD Rates

Axis NRI FD Rates

Maybank Singapore FD Rates

Yes Bank NRI FD Rates