Kotak Mahindra Bank Platina Savings Account gives you added banking powers and facilities. You can avail of several premium services without paying a penny. The customers get an edge over investments and savings. Also, you can use ActivMoney to sweep out the excess balance from savings account to Term Deposit to earn higher interest. You receive an add-on Debit Card free as well. Moreover, most of the service charges are dropped exclusively for Platina savings bank account holders.
In this post, we will discuss Kotak Mahindra Bank Platina Savings Account features, interest rate, eligibility criteria, documents required, fees and charges, and frequently asked questions
Here are the features of this Kotak Mahindra Bank Savings Account:
The Kotak Mahindra Bank Platina Savings Account Interest Rate is 5.00% to 6.00% per annum. Here are more details about it:
Here are the ones eligible to apply for Kotak Bank Savings Account:
Here are the documents required to open the SB account:
Here are the fees and charges for this Kotak Mahindra Bank Savings Account
Here are the frequently asked questions:
Standard charges apply if the AMB maintained is <= 75% of the requirement, irrespective of the free limits on different facilities. The additional charges are Rs. 50 per call for phone banking, Rs. 50 per month for Platinum Debit Card, Rs. 25 per month for Classic/Gold Debit Card, and Rs. 4 per cash deposit of Rs. 1,000.
All the fees are exclusive of GST. The issuance fee is Rs. 250 and reloads fee is Rs. 75
GST applicable is as follows:
Here are the details:
The threshold and TDS rate for cash withdrawal depends on the submission of proof of the ITR filed for the FY. There are no charges for withdrawals up to Rs. 20 lakhs in the FY. If you do not submit ITR filing proof, then 2% applies on withdrawals over Rs. 20 lakhs and under Rs. 1 crore. If the withdrawal is over Rs. 1 crore then 2% TDS applies if you submit an ITR copy to the bank. If you do not submit the proof in this case, then 5% TDS applies.
A beneficiary may have an account with NSBL (Nepal SBI Bank Ltd.). In this case, Rs. 25 per transaction is chargeable in this case. If there is no account in NSBL, then, in this case, Rs. 75 per transaction will apply for an amount up to Rs. 5,000. Rs. 100 will apply on an amount over Rs. 5,000.
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