As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts ##Cash withdrawal limit from other Domestic ATM/Micro ATM is Rs. 10,000 per transaction. #+ Top 6 Cities –Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATM/Micro ATMs. Mandatory Alerts will not be charged. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed. ^^ Customer induced transactions are Cash Deposit, Cash Withdrawal, DD issuance, NEFT, RTGS, IMPS. **Indo - Nepal Remittance Scheme (NEFT Charges): If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Nil charges for NEFT done through Mobile banking / Net Banking. Service Charges for “NationBuilder Salary Account” will be same as “CS Ace Account” with Nil AMB requirement. Annual maintenance charges on Debit Card for NationBuilder Salary Account is waived subject to regular salary/pension credits or AMB of Rs. 10,000 in the account. The Bank will charge cross-currency mark-up charge of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the Visa/Master Card/RuPay wholesale exchange rate prevailing at the time of transaction. A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) +Additional charges levied by another bank on international ATM/Micro ATM transactions will also have to be borne by the card holder.
<> Penalty Charges.
$ Please note, if your account is currently in dormant status, non-maintenance charges will not be applicable to the same. In order to activate your account, please visit your nearest Kotak Bank branch
<> For Corporate Salary Accounts, In the event of a default in maintenance of Average Monthly Balance or regular salary/pension credits as agreed between the bank and customer for the month (referred as Default Month'), the bank will notify the customer clearly of the default and that either salary/pension credit to be sighted or Average Monthly Balance for the account has to be met in the subsequent month (referred to as 'Notice Month') else the NMC (Non Maintenance Charges) for both the 'Default Month' and 'Notice Month' will be recovered. Closure of account due to revision of charges will not be subject to account closure charges. For Corporate Salary account holders Family Savings Account will enjoy waiver of NMC till such time the linked principal Salary account receives monthly salary/pension credits or maintains the required product AMB. In the event of Principal salary account not receiving salary/pension credit or maintaining the required AMB, the linked Family Savings account should maintain AMB of Rs. 10,000; failing which standard charges of edge account (CS EDGE) would apply in the Family Savings Account. For Corporate Salary Accounts -
Debit Card charges are subject to salary credit. If salary is not credited for 3 consecutive months, accounts with > 5 free transactions at other bank ATM/Micro ATMs will be downgraded to only 5 transactions irrespective of the corporate offering. Program customers will be excluded from this exercise. Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change. Debit Card Annual Charges for Silk, Junior, Youth and Maestro Debit Cards will be same as Classic Debit card. For Corporate salary account with S2W SELECT offering, the zero balance feature in your account is subject to regular monthly salary/pension credit OR single credit transaction of minimum Rs. 20,000 per month in NationBuilder/Ace account or Rs.10,000 per month in Edge account, through NEFT/RTGS only (Cash deposit, Cheque deposit and fund transfer from any other Kotak Bank account will not be considered). In case salary/pension/funds are not credited, you are required to maintain Average Monthly Balance (AMB) as per the product variant to continue with account features and avoid non maintenance charges. The bank may choose to notify by SMS / email / letter. It will be the responsibility of the customer to have a valid email id ,mobile number and address updated with the bank at all times, failing which, customer may not receive the notification/s.
The NMC charges will be based on the shortfall observed in the AMB. Service Charges for Overdraft Fixed Deposit Individual Account (ODFDS) & Overdraft Fixed Deposit Corporate Salary Account (ODFDC) would be same as Edge Savings Account & Edge Corporate Salary Account respectively. However, there is no minimum AMB requirement in ODFDS or ODFDC. Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350 per rejection. Charges are exclusive of the Goods and Service Tax (GST). With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time. The above charges are subject to revision with a prior intimation of 30 days to all account holders. All Services, where a free limit is specified, usage beyond the free limit will be charged as per the standard charge of the respective service. State government taxes / Cess as applicable shall be charged. w.e.f 1st July, 2020; TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year. ^For new customers on boarded w.e.f Nov 10, 2021. For existing bank customers w.e.f from Jan 1, 2022. Rs. 150 + GST will be applicable for existing bank customers till Dec 31, 2021.
For all value figures, k = 1000
Monthly physical statements will be issued free to account holders on them personally visiting the home branch for the same.
Please note that the Cash Pickup/ Delivery charges pertain to the “Cash Pick-up/ Delivery” service offered to the customer. Additional charges for cash transactions shall be levied basis the Cash Transaction limits offered under the respective variant. The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant.
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