What is the minimum balance for classic account?

The minimum average monthly balance for Classic Savings account is Rs.10,000.

What are the features of classic savings account?

It is power packed with lot of features, which are as follows: 1. Average Monthly Balance (AMB) of Rs. 10,000/- 2. Earn up to 4% interest on your savings account balance1 3. Free access to all domestic VISA ATMs 4. Free Classic Debit Card 5. Free Net Banking, Mobile Banking and Phone Banking 6. Free cash pick-up/delivery (5 calls per month) 7. Free instrument pick-up/delivery (5 calls per month) 8. Free NEFT through Netbanking 9. Free cash withdrawals from any Kotak branch across India 10. Free cash withdrawals at other domestic ATMs 11. Free Demand Drafts 12. 50 % Discount on first year Demat AMC 13. Convert savings account balance above a certain amount into Term Deposits with Kotak ActivMoney

Classic Savings Account Fees and Charges

Classic Savings Account

The Kotak Mahindra Classics Savings Account gives you the benefit of great features, that too at a comfortable balance requirement, so you can enjoy a banking experience that is truly exceptional. And with priority service from your Relationship Manager, you can rest assured that taking care of your banking and investment needs will be made effortless.

Monthly Balance

Average Monthly Balance (AMB)
of Rs. 10,000/-

Attractive Interest Rates

Earn FD like interest in your Savings Account with ActivMoney, click here to know more

Free Platinum International Chip Debit Card (1st year free)

For further details, Please click here

Demand Drafts

Free Demand Draftsof up to Rs 1 lac per month

ATM Cash withdrawals

Free Access to all domestic Visa ATMs. Enjoy Unlimited free Cash withdrawals at our ATMs.
Get up to five free Transactions per month in other Bank ATMs

Cash pick-up/delivery

Free cash pick-up/delivery
Free instrument pick-up/delivery
(5 calls per month)

Kotak ActivMoney

Convert savings account balance
above a certain amount
into Term Deposits

More Features & Benefits

Free NEFT through Netbanking
Free cash withdrawals at other domestic ATMs³

Check your eligibility for the Classic Savings Account.

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Disclaimer

Nova/Classic Savings Account is available in Semi-urban/rural branches only.

1. Effective Oct 17,2024, daily balances in Savings Account up to Rs. 5 lakhs will earn 3% interest p.a. Daily balances above Rs. 5 lakhs & up to Rs. 50 lakhs; and above Rs. 50 lakhs will continue to earn 3.50% and 4% interest p.a. respectively. These interest rates are applicable for Resident Accounts only.

2. Per transaction limit is Rs. 10,000/-.

3. In branch location free up to Rs. 1 lac, for other locations free up to Rs. 50,000/- per day.

4. Please click here for ActivMoney terms and conditions.

All benefits are subject to terms, conditions and exclusions.

*Non chip enabled Debit Cards issued on or after December 1 , 2013, cannot be used outside India.

**Year is defined as period of 12 months from 1st January to 31st December for cheque book issuance charges

Eligibility Criteria

To apply for Kotak Mahindra Bank Classic Savings Account, should belong to any one of the below mentioned categories:

Resident Indian (Sole or Joint Account)
Hindu Undivided Families
Foreign Nationals Residing in India¹

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Disclaimer

¹ Foreign nationals (resident in India), should obtain an undertaking in form QA 22 duly signed by all the persons (irrespective of nationality) who are authorised to operate on the accounts. Fresh declarations will be necessary in the event of any addition to the list of persons authorised to operate on the accounts. Form QA 22 need not be completed by foreign nationals of non-Indian origin permanently resident in India and foreign nationals of Indian origin (other than those who are residing in India for employment of specified duration irrespective of the length thereof or for a specific job or assignment, the duration of which does not exceed three years) and foreign-born wives of Indian nationals and of persons of Indian origin resident in India.

Click Here to Know about Fees and Charges

Check the documents required for opening the Classic Savings Account.

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Be ready with following documents while opening this account

(Original for verification and self-attested copies for submission)

Document	Valid Type
Identity Proof	Driving License, Passport, Voter's ID, Aadhaar Card
Addres Proof	Passport, Driving License, Voter's ID, Aadhaar Card, Utility Bill, Bank Statement, Bank Account Passbook (Updated and no more than 3 months old)
Signature Proof	PAN Card, Driving License, Passport
Latest Passport Size Photographs

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Classic Savings Account