Don’t let scams steal your peace
Mobile banking has helped bring banking to our fingertips. While most people in the country are getting accustomed to online banking, there are certain things that must be kept in mind to ensure safety and security while transacting online.
Below are some tips to help you be more vigilant while using mobile banking.
| Particulars | Platina | |
|---|---|---|
| Average Monthly Balance (AMB) | Rs. 1,00,000 | |
| Non Maintenance Charge (NMC) - Monthly | Charges for non maintenance of minimum monthly average balance | 5% of the shortfall in required AMB per month (Max upto Rs.600/-) |
| Fund Transfers | NEFT / RTGS / Fund Transfer (Through Netbanking / Mobile Banking) | Nil Charges |
| NEFT / RTGS - Applicable only if done in Branch | Nil Charges | |
| IMPS | Nil Charges | |
| Cash Transactions | Cash Transaction at Branch / Cash Deposit Machine (CDM) (Deposit or withdrawal) |
Nil Charges upto 10 transactions or 5 lac/ month whichever is earlier. Post Nil Charges limits, charged at Rs 4.5 / 1000 (Minimum Rs. 150) |
| Debit Card / ATM Charges | Debit Card Charges | |
| Kotak Bank's ATM Cash Withdrawal / Non Financial Transactions | Nil Charges | |
| Other Domestic ATMs - Cash Withdrawal / Non Financial Transactions ## | Nil Charges | |
| Declined Domestic ATM Transactions due to insufficient balance Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019) |
Rs.25 per transaction | |
| Cash Withdrawal / Non-Financial Transactions at International ATMs + | Rs.150 per cash withdrawal transaction & Rs 25 per non-financial transaction | |
| Cardless cash withdrawal (IMT) | Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction | |
| DD / Cheque Book | DD | Nil Charges |
| FCY DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return | Rs. 500 | |
| At-par Cheque Book Charges | 100 Chq leaves Nil Charges / Qtr; Thereafter Rs.3 / cheque leaf. | |
| ECS / Cheque Issued & Returned (due to non availability of funds) | Rs.500 / instance | |
| ECS Mandate Verification | Nil Charges | |
| SI Failure | Nil Charges | |
| Cheque deposited and returned (INR) | Rs.100 / instance | |
| Branch Requests | Duplicate Ad-hoc statement, Balance & Interest Statement, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment - Single / Range of cheque thru branch; DD Revalidation; PO / BC Revalidation/ Cancellation (INR); Annual Combined Statement-Physical; Monthly Physical Statement; Regeneration of PIN of Net Banking / Phone Banking (sent through courier) | Nil Charges |
| DD Cancellation (INR) | ||
| Foreign Inward Remittance Certificate | ||
| Home Banking | Cash** / Instrument Pick Up / Delivery (Not Valid for Ahmedabad & Kolkata) |
10 Free calls / month, thereafter Rs. 150 per visit |
| KYC Pickup – Only for senior citizen and differently abled### | Rs. 100 per visit | |
| Family Banking | Upto 3 Additional NMC waived Family member accounts under "My Family" | |
| Statements & Alerts | Statements | Email Statement (Monthly): Nil Charges; Physical Statement (Quarterly): Nil Charges |
| Value added alerts (Daily / Weekly) | 50p.per SMS(Daily) & Weekly-Nil | |
| Other Charges | TOD Account Closure charges: (if closed after 1 month & before 6 months of A/C opening) |
TOD: Rs.500 Account Closure charges: 500 |
| Complimentary Services | Passbook (in lieu of Account Statement) Current Year Balance and interest statement Signature Verification Certificate Photo Attestation Address Confirmation | Nil Charges |
| Debit Card Annual Charges | Classic Debit Card | Nil Charges |
| Silk Classic / Platinum | Nil Charges | |
| Gold Debit Card | Nil Charges | |
| Platinum / My World Debit Card | Nil Charges | |
| World / World Exclusive Debit Card | Nil Charges | |
| Kotak PVR Debit Card | Rs. 499 | |
| Other Debit Card Related Charges | Replacement of Lost / Stolen Debit Card | Rs. 200 |
| Issuance Charges | Image Debit Card - Rs. 199, MyTeam Image Debit Card - Rs. 599 | |
| Regeneration of PIN (sent through courier) | Nil Charges | |
| GST on Foreign Currency Conversion Charges (FCY) ~ | ||
| Value of purchase or sale of Foreign Currency | Value on which GST rate will be applicable | |
| Up to Rs 1,00,000 | 1% of the gross amount of currency exchanges or minimum of Rs.250/- | |
| Above Rs.1,00,000/- to Rs.10,00,000/- | 1000 + 0.50% of the gross amount of currency exchanged less 1,00,000. | |
| Above Rs.10,00,000/- | Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs.60,000/- | |
| Forex Card | Particular | Standard charges |
| Issuance Fee | 250 (exclusive of GST) | |
| Reload Fee | 75 (exclusive of GST) | |
| Foreign Exchange Services (FES) | ||
| Outward Remittances - Individual | Standard Charges | |
| Telegraphic Transfer Charges (other than payment for imports) | INR 1250 + Tax | |
| Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter) | INR 1000 + Tax | |
| Issue of FCY DD's | INR 750 + Tax | |
| Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) | 0.125 %; minimum INR 1,000 +Tax | |
| "As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts. | ||
| ##Cash withdrawal limit from other Domestic ATM is Rs. 10,000 per transaction. | ||
| Transaction and Value Added SMS alerts would be sent at Nil Charge to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent at Nil Charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed. | ||
| **Indo - Nepal Remittance Scheme (NEFT Charges): | ||
| If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). | ||
| If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5,000 Rs. 75 per txn & beyond Rs. 5,000 Rs. 100 per txn (incl all taxes). | ||
| Nova Savings and Classic Savings are available in Rural and Semi-Urban Branches. Service Charges & AMB requirement for 'Savings Account for Minors without Guardian' will be same as 'Nova Savings Account'. | ||
| Service Charges for Synergy Savings Account' would be same as ‘Nova Savings Account’. However , there is no minimum AMB requirement in Synergy Savings Accounts. | ||
| Service Charges for Savings Account For Professionals' would be same as ‘Pro Savings Account’. However , there is no minimum AMB requirement in Savings Accounts For Professionals’ | ||
| Service Charges for Savings Account For Special Projects' would be same as ‘Edge Savings Account’. However , there is no minimum AMB requirement in Savings Accounts For Special Projects’ | ||
| Service Charges for 'Kotak Composite Savings Account' will be same as 'Ace Savings Account'. Duplicate Ad-hoc statement will be charged at RS.100/- per request on 'Kotak Composite Saving Account' | ||
| The Bank will charge cross-currency mark-up 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. | ||
| 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] | ||
| Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change. | ||
| Debit Card Annual Charges for Junior, Youth and Maestro Debit Cards will be same as Classic Debit card. Debit Card Annual Charge for Titanium Debit Card issued to Edge / Nova will be Rs. 200 and free for others accounts. | ||
| +Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder. | ||
| Charges 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. | ||
| The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges. | ||
| Please note that the Cash Pickup/ Delivery charges pertain to the “ Cash Pick-up/ Delivery” service offered to the customer. Additional charges for cash transactions shall be levied basis the Cash Transaction limits offered under the respective variant. The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant. | ||
| <> Penalty charges. Non-maintenance charges (NMC) is not applicable once the savings account becomes inoperative / dormant. | ||
| With effect from April 1, 2015: In the event of a default in maintenance of Average Monthly Balance as agreed to between the Bank and customer for the month (referred as Default Month), the Bank will notify the customer clearly of the default and that the Average Monthly Balance for the account has to be met in the subsequent month (referred to as Notice Month). If the AMB is still not maintained in the Notice Month, the NMC (Non Maintenance Charges) for both the Default Month and Notice Month will be recovered in the subsequent month. 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 charges will be based on the shortfall observed in the AMB and as specified in the slabs in GSFC. In case of accounts sourced under promotional offering and enjoying conditional NMC waiver, the terms and conditions of such promotional offering shall prevail." | ||
| 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 Rs.20 Lakhs | Nil | Nil |
| Rs.20 lakhs to Rs. 1 crore | Nil | 2%@ |
| In Excess of Rs. 1 crore | 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 | ||
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
At your request, you are being re-directed to a third party site - https://www.billdesk.com/pgmerc/kotakcard/ wherein you can make your payment from a different bank account. Kotak Cards does not guarantee or warrant the accuracy or completeness of the information, materials, services or the reliability of any service, advice, opinion statement or other information displayed or distributed on the third party site. You shall access this site solely for purposes of payment of your bills and you understand and acknowledge that availing of any services offered on the site or any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk. Kotak Cards and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services offered by BilIDesk whose site you are about to access. Neither Kotak Cards nor any of its affiliates nor their directors, officers and employees will be liable to or have any responsibility of any kind for any loss that you incur in the event of any deficiency in the services of BiIIDesk to whom the site belongs, failure or disruption of the site of BilIDesk, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.
Note: Available in select banks only. Kotak Cards reserves the right to add/delete banks without prior notice. © Kotak Mahindra Bank. All rights reserved
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.bank.in and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.