Prem Anand written by
Prem Anand
Prem Anand
VIP CONTRIBUTOR
Prem Anand
10 + years Experienced content writer specializing in Banking, Financial Services, and Insurance sectors. Proven track record of producing compelling, industry-specific content. Expertise in crafting informative articles, blog posts, and marketing materials. Strong grasp of industry terminology and regulations.
LinkedIn Logo Read Bio
Prem Anand Reviewed by
GuruMoorthy A
Prem Anand
Founder and CEO
Gurumoorthy Anthony Das
With over 20 years of experience in the BFSI sector, our Founder & MD brings deep expertise in financial services, backed by strong experience. As the visionary behind Fincover, a rapidly growing online financial marketplace, he is committed to revolutionizing the way individuals access and manage their financial needs.
LinkedIn Logo Read Bio
3 min read
Views: Loading...

Last updated on: June 13, 2025

Kotak Mahindra Bank Savings Account

Kotak Mahindra Bank, known for its customer-centric approach and innovative products, offers a diverse range of Savings Accounts designed to cater to your unique financial needs and lifestyle. Whether you’re a young professional starting out, a seasoned investor seeking high returns, or someone focused on convenience and rewards, Kotak Mahindra has an account perfectly suited for you.

Features and Services of YES Bank Savings Account

  • Variety of Account Options: Kotak Mahindra Bank provides various types of savings accounts, each designed to cater to specific customer requirements, including regular savings accounts, premium savings accounts, salary accounts, and specialized accounts for students and senior citizens.
  • Convenient Banking Services: Access a wide array of banking services, including online banking, mobile banking, phone banking, and SMS banking, for seamless account management and transactions.
  • Attractive Interest Rates: Enjoy competitive interest rates on your savings balance, ensuring that your money grows steadily over time.
  • Debit Card Facilities: Receive a complimentary debit card with your savings account, enabling convenient access to ATMs, online payments, and other benefits.
  • Customer Support: Benefit from personalized customer service and support to address any queries or concerns related to your savings account.

Types of Kotak Mahindra Bank Savings Account

  • Kotak Classic Savings Account: Enjoy high interest rates, free withdrawals at all domestic ATMs, and a free Classic Debit Card.
  • Kotak 811 Digital Savings Account: Open instantly online with zero balance and enjoy convenient features like instant transfers and bill payments.
  • Kotak Super Savings Account: Earn even higher interest rates with a minimum balance requirement and avail personalized banking services.
  • Kotak Freedom Savings Account: Designed for students with zero balance requirement and features like educational goal planning tools.
  • Kotak Pehla Kadam Savings Account: Start your child’s financial journey with a joint account for minors and enjoy attractive interest rates.
  • Senior Citizen Savings Account: Earn higher interest rates and enjoy dedicated services tailored to senior citizens’ needs.

Kotak Mahindra Bank Savings Account Minimum Balance & Interest Rates

Account TypeMinimum Balance (₹)Interest Rate (%)
Kotak Classic Savings Account0Up to 4.00%
Kotak 811 Digital Savings Account03.00%
Kotak Super Savings Account₹10,000 (Urban/Metro), ₹5,000 (Rural)3.50% – 4.00%
Kotak Freedom Savings Account03.00%
Kotak Pehla Kadam Savings Account03.00%
Senior Citizen Savings Account04.00% – 4.50%

Kotak Mahindra Bank Savings Account Charges

Transaction TypeCharges
ATM Withdrawal₹20 per transaction (after free limit)
Cheque Book IssuanceFirst cheque book free; charges apply for subsequent cheque books
NEFT/RTGS TransactionsCharges may apply depending on the transaction amount and the channel used

Note: Charges and interest rates are subject to change as per Kotak Mahindra Bank’s policies. Visit the Kotak Bank official website for updated information

How to Open a YES Bank Savings Account:

1. Online Account Opening:

  • Advantages: Quick, convenient, paperless, and can be done from anywhere.
  • Available for: Most Kotak Mahindra Savings Accounts, excluding accounts requiring specific documentation like Senior Citizen Savings Account.
  • Process:
    • Visit the Kotak Mahindra Bank website or download the Kotak 811 app.
    • Choose the desired account type.
    • Fill out the online application form with your details.
    • Provide Aadhaar authentication and complete a video KYC (Know Your Customer) verification.
    • Fund your account with the minimum balance through online transfer or debit card.
    • Your account will be activated within a short period.

2. Branch Account Opening:

  • Advantages: Personalized assistance, suitable for those unfamiliar with online procedures or requiring specific account types.
  • Process:
    • Visit a Kotak Mahindra Bank branch near you.
    • Discuss your needs with a representative and choose the suitable account type.
    • Submit the required documents (identity proof, address proof, KYC documents).
    • Fill out the physical application form.
    • Fund your account with the minimum balance through cash, cheque, or debit card.
    • Your account will be activated within a short period.

Documents Required:

  • Identity proof: PAN card, passport, Aadhaar card, etc.
  • Address proof: Utility bills, rental agreement, etc.
  • KYC documents: As per government regulations (may vary based on your circumstances).