Everyday Savings Account Eligibility: Check If You Qualify for Exciting Deals and Discounts

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Spend Everyday, Save Everyday

Treat yourself to exciting rewards

Transact and earn vouchers worth up to Rs.250* every month

Get a power-packed Debit Card

Enjoy exclusive offers and discounts on popular brands like Zomato, Blinkit, MakeMyTrip, BookMyShow & EazyDiner with Everyday Debit Card

Offers for your special days

Celebrate with gift vouchers worth Rs.250 on your birthday and anniversary with the bank

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
Address 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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Eligibility Criteria

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

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

Check the fees and charges for the Everyday Savings Account.

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Disclaimers

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.

Frequently Asked Questions

What is everyday savings account?

Everyday savings account is a one of a kind savings account where you can save while you spend with deals on popular brands such as Zomato, Blinkit, MakeMyTrip, EazyDiner, BookMyShow etc.

What is the interest rate offered by an Everyday Savings Account?

For Everyday Savings Account if daily balances in Savings Account is up to Rs. 5 lakhs, it will earn 3% interest p.a. Whereas if the daily balances in Savings Account is above Rs. 5 lakhs & up to Rs. 50 lakhs; and above Rs. 50 lakhs, it will continue to earn 3.50% and 4% interest p.a. respectively. These interest rates are applicable for Resident Accounts only

What are the eligibility criteria to open an Everyday Savings Account?

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

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

What documents are required to open an Everyday Savings Account?

The following documents are required to open an Everyday savings account:

Identity Proof - Driving License, Passport, Voter's ID, Aadhaar Card
Address 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

Is there any monthly maintenance fee for an Everyday Savings Account?

Yes, the everyday savings account charges 6% of the shortfall in required AMB per month (Max upto Rs.600/-)

What are the benefits of opening an Everyday Savings Account?

The benefits of everyday savings account are as follows :

Treat yourself to exciting rewards - Transact and earn vouchers worth up to Rs.250* every month
Get a power-packed Debit Card - Enjoy exclusive offers and discounts on popular brands with your Everyday Debit Card
Special offers.on your birthdays and completion of your anniversary with the bank

Convert excess savings to term deposits via Kotak ActivMoney