Terms & Conditions:

Debit card Related:-

*In case of upgrade/downgrade respective program/product GSFC will be applicable.

• Debit Card issuance fee for Corporate Salary schemes is Nil(except Visa Signature Pro & PVR debit)
• Debit Card Annual fee mentioned for Corporate Salary schemes is Nil subject to salary credit/ AMB requirement(except Visa Signature Pro & PVR debit)
• Fees, if any, levied by other Banks/Merchants on international transactions will have to be borne by the cardholder.
• 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 wholesale exchange rate prevailing at the time of transaction.
• Debit Card Annual fee for Junior, Youth and Maestro Debit Cards will be same as Classic/Pay shop more Debit card.

Atm Related:-

##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. 

-A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019]

Salary Scheme Related:

^If there is no salary credit for 4 consecutive months, account shall be converted to Savings account variant. The AMB requirement, features, benefits & the charges shall be applicable as per the respective account variant.

#If there is no salary credit for 6 consecutive months, account shall be converted to Savings account variant. The AMB requirement, features, benefits & the charges shall be applicable as per the respective account variant.

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).

<> In the event of a default in maintenance of Average Monthly Balance or regular salary 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 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 fee) for both the ‘Default Month’ and ‘Notice Month’ will be recovered.

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.

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

As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.

Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change.

The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant.

Non Maintenance fee,not applicable once the account becomes inoperative/ dormant.

Above mentioned Fees are exclusive of the Goods and Service Tax (GST). 

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 :

@ 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 (TAX team to confirm)Fees for Kotak Composite Savings Account & Savings Account for Smart Home Loan (SBHLO) is same as Kotak Ace Savings Account

The above fee are subject to revision with a prior intimation of 30 days to all account holders