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For Kotak Bank Customers
For Kotak811 Customers
Experience the all-new Kotak Netbanking Lite
Simpler, smarter & more intuitive than ever before. Now accessible on your mobile phone!
New account opening for this variant is only applicable under Private Banking
Terms & Conditions:
Changes W.E.F to 1st May’25
Demand Draft fee for Solo Savings Account/ Savings POA Product- INR 4 / 1000 (Min INR 50, Max INR 10,000), for Senior citizen INR 3 / 1000
outward Remittances - Individual |
Standard Fee |
Value of purchase or sale of Foreign Currency |
Value on which GST rate will be applicable |
Telegraphic Transfer fee (other than payment for import) |
INR 1250 + Tax |
Up to INR 1,00,000 |
1% of the gross amount of currency exchanges or minimum of INR250/- |
Correspondent Bank Fee (Outward remittance wherein the foreign bank |
INR 1000 + Tax |
Above INR1,00,000/- to INR10,00,000/- |
1000 + 0.50% of the gross amount of currency exchanged less 1,00,000 |
Issue of FCY DD's |
INR 750 + Tax |
Above INR10,00,000/- |
INR5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of INR60,000/- |
Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) |
0.125 %; minimum INR 1,000 +Tax |
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Cheque book / debit card will not be issued for this account variant.
Since this is a POA account, client induced transactions are not allowed.
In case of change of product variant,Debit card fees will be applicable as per default classification of the new scheme code.For details refer the product variant GSFC at www.kotak.com.
As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.
## Cash withdrawal limit from other Domestic ATM is INR 10000 per transaction.
#+ Top 6 Cities - Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad 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.
Indo - Nepal Remittance Scheme (NEFT fee):
If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): INR 25 per txn (incl all taxes).
If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto INR 5000 - INR 75 per txn. & beyond INR 5000 - INR 100 per txn. (incl all taxes).
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.
Any rejections in applications made through ASBA mode due to insufficient funds will attract fee of INR 350/- per rejection <>
+ Additional fee levied by another bank on international ATM transactions will also have to be borne by the card holder.
The above fee are subject to revision with a prior intimation of 30 days to all account holders Closure of account due to revision of fee will not be subject to account closure fee.
<> Penalty fee. Not applicable once the account becomes inoperative/ dormant.
Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change
Balance (AMB) as per the product variant to continue with account features and avoid non maintenance Fee. 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 Fee will be based on the shortfall observed in the AMB and as specified in the slabs in GSFC
Fee 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.
State government taxes/ Cess as applicable shall be charged
W.e.f 1st July,2020; threshold as well as Rate of TDS applicable for CASH withdrawal will dependent on submission of proof of Income Tax Return filed. Revised TDS rates will be as under:
Aggregate Cash withdrawals in all accounts in a Financial Year |
Income tax Return copy Submitted to Bank |
Income Tax return copy Not Submitted to bank |
Upto INR20 Lakhs |
Nil |
Nil |
INR20 lakhs to INR 1 crore |
Nil |
2%@ |
In Excess of INR 1crore |
2%@ |
5%@ |
.@If PAN is not updated in the account then the TDS deduction at the rate 20% as per section 206AA of the Income Tax Act will apply. For foreign companies, foreign partnership firms, Non-residents additional surcharge and health & education cess will be applicable as per Income Tax law.
###https://www.india.gov.in/spotlight/unique-disability-id
Effective 1st Nov, 24 a Dynamic Currency Conversion (DCC) mark-up fee of 1% plus GST will be applicable on your Kotak Bank Debit Card for: transactions done in Indian currency (INR) at international locations or transactions done in Indian currency (INR) with merchants located in India but registered in an international locations. DCC mark-up fee will be applicable on all ATM, POS/In-store or Online transactions
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