What are the fees associated with the Nova Savings Account?

Basic fees like Non Maintenance Charges, cash transaction/withdrawal charges, DD/Chequebook charges, branch request charges etc. are associated with the Nova Savings Account, for more details please visit :https://www.kotak.com/en/personal-banking/accounts/savings-account/nova-savings-account/fees-and-charges.html

Is there a limit on the number of withdrawals I can make from my Nova Savings Account?

Nova savings account allows you to enjoy unlimited withdrawls in our ATMs. However for withdraws from other domestic ATMs there are Nil Charges upto 3 txns(In Top 6 Cities) & 5 Txn (Non-Top Cities) per month thereafter Rs. 21 per cash withdrawal & Rs. 8.5 per Non-Financial Txns

What types of identification documents are required to open a Nova Savings Account?

To open a Nova savings account, the following identification documents are required : Driving License, Passport, Voter's ID, Aadhaar Card etc.

Nova Savings Account Fees and Charges

Q: How do I apply for a Nova Savings Account?

You can apply for Nova savings account online as well as by visiting our nearest branch. Nova/Classic Savings Account is available in Semi-urban/rural branches only. Click on the following link to apply online : https://kapps.kotak.com/kotakXpress/xpress/xpress-home.action?pid=NOV

Nova Savings Account

The Nova Savings Account is a unique savings account that lets you manage all your financial needs anytime. Enjoy the complete financial package with free NEFT and other benefits just for you. With ease in eligibility criteria, it is very easy to open this savings account.

Monthly Balance

Average Monthly Balance (AMB)
of Rs. 5,000/-

Attractive Interest Rates

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

Free Cash Withdrawals

Free access to all domestic VISA ATMs
Free cash withdrawals at
Kotak Bank ATMs

Classic Debit Card( Standard Charges)

Make your everyday payments with ease using Classic Debit Card. For further information,
Please click

Kotak ActivMoney

Convert savings account balance above a certain amount into Term Deposits with Kotak ActivMoney

Free at-par cheque

Enjoy upto 25 cheque leaves free per Year using Kotak Bank's Nova account

Transfer Money

Free NEFT/RTGS (only through Net Banking)

Digital Banking

Free Phone Banking, Net Banking and Mobile Banking

Check your eligibility for the Nova Savings Account.
Explore more savings account options that best suit your needs.

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 Limits apply.

3 Please click here for ActivMoney terms and conditions.

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

All benefits are subject to terms, conditions and exclusions.

Eligibility Criteria

To apply for Kotak Mahindra Bank Nova Savings Account you need to hold any one of the following accounts with us

Resident Indians (Sole or joint account)
Hindi Undivided Families (HUF)
Foreign Nationals Residing in India¹

Know the fees and charges for the Nova Savings Account.
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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

Be ready with following documents while opening Nova Savings 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
Please carry the original documents for verification and self-attested copies for submission.
Pan card / Form 60 will still be a mandatory document for opening savings Account.
*Providing Aadhar card is voluntary.

Explore more savings account options that best suit your needs.

Nova Savings Account