March 27, 2026

Kotak Mahindra Bank Savings Account

Investing a small portion of your income in a savings account can yield significant returns with minimal risk and effort. A high-interest savings account may be the best bet if you're looking for a low-risk, minimal-effort way to grow money.

Kotak Mahindra Bank's savings account is prevalent and offers many options. These include premium accounts, basic accounts, online and offline savings accounts, children's accounts, and seniors' savings accounts.

Kotak Mahindra Bank is renowned for its rapid growth in India and is one of the most prominent companies in the Kotak Group.

The Reserve Bank of India (RBI) granted a license to Kotak Mahindra Bank in 2003. In 2015, ING Vysya Bank merged with Kotak Mahindra Bank, becoming the country's first non-banking financial organisation to become a bank.

It is also one of the largest banks in the country, with over 1700 branches and more than 2700 ATMs nationwide. In addition to corporate banking, it offers Treasury services, personal banking, and commercial banking services as well.

The Kotak Mahindra Bank savings account offers a much higher interest rate (up to 4.00%) than its competitors.

In this article, we will discuss Kotak Mahindra Bank savings account, their features, and how to apply them.

Advantages and Features of Kotak Mahindra Bank Savings Account

You can take advantage of numerous benefits by opening a Kotak Mahindra Bank Saving Account. Some of them are as follows:

Credit and debit cards are provided at no additional cost to customers.
Kotak Bank has ATMs all over the country, making it easy for individuals to access their funds.
Individuals can earn an interest rate of up to 4% per year on money deposited in their bank account.
With automatic utility bill payments, one can avoid the hassle of remitting payments each month.
It is also possible to access your account via net banking or mobile banking.
This type of investment is entirely risk-free since no volatility is involved.

Kotak Mahindra Bank Savings Account Interest Rate, 2022

Keeping a Kotak Mahindra Bank Savings Account provides a good return, which is as follows:

Nature	For balances up to Rs. 50 lakhs	For balances above Rs. 50 lakhs
A. Domestic (W.e.f. June 13, 2022)	3.50% p.a.	4% p.a.
B. Non-Resident (NRE/NRO)	3.50% p.a.	3.50% p.a.

Source - Interest Rate of Kotak Mahindra Bank Saving Account

Note: Rates mentioned above are effective from 13th June 2022 on all Kotak Mahindra Bank Savings Accounts.

On the Kotak Mahindra Bank Savings Account, interest is paid quarterly. Hence, the Savings Bank interest calculated daily will be paid on the 30th of June, 30th of September, 31st of December & 31st of March each year.

According to the bank's policy, interest rates on Kotak Mahindra Bank Savings Accounts are subject to renewal.

Types of Kotak Mahindra Bank Savings Account

You can open a savings account online or offline with Kotak Mahindra Bank. To make it easier for you, we have divided the Kotak Mahindra Bank savings account options into two categories: online and offline.

Online Savings Account

Kotak 811 Digital Bank Account
Kotak 811 Edge Digital Bank Account

Offline Savings Account
Everyday Savings Account
Alpha – The Savings & Investment Programme
Classic Savings Account
Pro Savings Account
Ace Savings Account
Edge Savings Account
My Family Savings Account
Grand – Savings Programme
Silk Women's Savings Programme
Junior – The Savings Account for Kids
Nova Savings Account
Sanman Savings Account
BSBDA/Small Accounts

Online Savings Account at Kotak Mahindra Bank

1. Kotak 811 Digital Bank Account

With the Kotak 811 savings account, you may access the complete mobile banking services without maintaining a minimum balance. With Kotak 811, it takes less than 5 minutes to create a savings account from the comfort of your own home or workplace.

The main idea of 811 is to provide you with a mobile savings account that has no minimum balance and gives you access to a wider variety of stores, pay-for trips, and entertainment options.

Kotak 811 Digital Savings Bank Account	Features
Average Monthly Balance (AMB)	Zero Balance
Debit Card	Virtual Debit Card (Platinum Chip Card for Rs. 199/- p.a.)
Interest Rate	Up to 4.00% p.a.*
Mobile and Net Banking	Free
Eligibility	Indian Residents over the age of 18

2. Kotak 811 Edge Digital Bank Account

Kotak 811 Edge is a savings account that combines Kotak 811 with Kotak's regular savings accounts to give you the best of both worlds. With the 811 Edge Savings Account, Kotak offers you a fully digital banking experience. It has a paperless opening experience and a minimum balance requirement of Rs. 10,000.

Kotak 811 Edge Digital Bank Account	Features
Average Monthly Balance (AMB)	Rs. 10,000/-
Debit Card	Platinum Chip Card
Interest Rate	Up to 4.00% p.a.*
Mobile and Net Banking	Free
Eligibility	Indian Residents over the age of 18

Source - https://www.kotak.com/en/personal-banking/accounts/savings-account/811-zero-balance-digital-savings-account.html

Kotak 811 Bank Account Types

In this type of Kotak Mahindra Savings Account, you'll encounter one of the following account types:

Account Types	Main Features
Kotak 811 Lite	Minimum balances are not required. It is valid for 12 months (from the account opening date). Neither physical nor virtual cards are available. It is possible to convert an 811 Lite into an 811 Edge.
Kotak 811 Limited KYC	Savings accounts with no balance. It is valid for 12 months (from the account opening date). Chequebooks are chargeable.
Kotak 811 Full KYC Account	There is no minimum balance requirement. On request, a chequebook can be obtained. FATCA declarations and documents must be submitted as part of KYC. For those who prefer regular savings accounts with unlimited transactions.
Kotak 811 Edge	A balance requirement of Rs 10,000 per month is average You can use the chequebook for free for 25 sheets every quarter. An annual fee of Rs150 is charged for the platinum debit card. Free and unlimited access to Kotak Bank ATMs. Other domestic banks offer 5 free withdrawals per month from their ATMs.

How to Open a Kotak 811 Account?

Below are the steps you need to follow to open a Kotak Mahindra Bank Saving Account Online:

Step 1: You first need to go to the Android Play Store on your mobile device.

Step 2: Please download and install the Kotak Mobile Banking app from the Google Play Store.

Step 3: Enter your AADHAAR number, PAN number, and other personal details on the registration form.

Step 4: Set up a PIN for your mobile banking account.

Step 5: You can begin using your account right away.

Offline Savings Account at Kotak Mahindra Bank

1. Everyday Savings Account

It's an all-new savings account - the Kotak Everyday Savings Account. Just do 30 transactions in a month, and you don't have to worry about monthly balance maintenance. Whether on weekends, festivals, milestones, or even your birthday, you can enjoy significant discounts on popular brands daily.

Everyday Savings Account	Features
Average Monthly Balance (AMB)	Rs. 20,000/-
Debit Card	Everyday Rupay Debit Card
Interest Rate	Up to 4.00% p.a.*
Withdrawal Limit/ Purchase Limit	ATM Withdrawal Limit Rs. 1,00,000 / Daily Purchase Limit Rs.3.00 lakh
Eligibility	Indian Residents, HUFs, and Foreign Nationals residing in India

2. Alpha - The Savings & Investment Programme

Alpha - Savings & Investment Programme is uniquely designed to make regular saving fun and easy. With the Alpha - Savings & Investment Programme, you can invest in Recurring Deposits, NPS, Fixed Deposits, Mutual Funds, and much more.

Alpha – The Savings & Investment Programme	Features
Average Monthly Balance (AMB)	No Charges (Waived*)
Annual Charges of Investment Account	No Annual Charges (Waived)
Locker rentals	15% discount with Ace
Debit Card	Available

*The following is the procedure to obtain a Non-Maintenance Charge Waived on this Kotak Mahindra Bank Savings account:

A minimum monthly investment of Rs. 2000/3000/4000 in an RD/FD (depending on the account variant chosen) is mandatory
Investments in Term Deposits with a value 10 times or more of the prescribed product's average monthly balance
Open an online trading account with a margin greater than Rs. 10,000 and a linked savings account (Trinity Account).

3. Classic Savings Account

With the Kotak Mahindra Classics Savings Account, you'll get great features and a low balance requirement to have fun banking. You'll be able to take care of your banking and investment needs with priority service from your Relationship Manager.

Kotak Classic Savings Account	Features
Average Monthly Balance (AMB)	Rs. 10,000
Debit Card	Free Classic Debit Card
Interest Rate	Up to 4.00%*
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Indian Residents, Hindu Undivided Families, and Foreign Nationals Residing in India

4. Pro Savings Account

Using the Pro Savings Account, you can save money and get premium banking services, all for a lower AMB. It's what you want if you want banking benefits and unmatched free services. With easy eligibility criteria, this Kotak Mahindra Bank savings account is easy to open.

Kotak Pro Savings Account	Features
Average Monthly Balance (AMB)	Rs. 20,000
Debit Card	Platinum International Chip Card
Interest Rate	Up to 4.00%*
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs. 2 lakhs
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

5. Ace Savings Account

Ace Savings Account provides additional advantages and benefits without adding any extra fees on top of existing features.

Kotak Ace Savings Account	Features
Average Monthly Balance (AMB)	Rs. 50,000
Fund Transfer	Free RTGS/NEFT/IMPS
Interest Rate	Up to 4.00%*
Debit Card	Free Platinum International Debit Card
Eligibility Criteria	Resident Indian, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

6. Edge Savings Account

Having an Edge Savings Account enables you to take advantage of regular and privileged services to provide you with a memorable banking experience.

Kotak Edge Savings Account	Features
Average Monthly Balance (AMB)	Rs.10000
Debit Card	Classic Debit Card
Interest Rate	Up to 4.00%*
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

7. My Family Savings Account

Designed for the entire family, the Kotak Mahindra My Family Savings Account combines all of their banking needs under one account, allowing everyone to take advantage of exclusive family-centric benefits.

Kotak My Family Savings Account	Features
Net Banking & Mobile Banking	Available
Debit Card	Classic or Platinum Debit Card
Interest Rate	Up to 4.00%*
Relationship Manager	Dedicated Relationship Manager for you and your family
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

8. Grand - Savings Programme

It is designed to provide superior service at all branches, home banking facilities, cashback up to Rs. 4,500 per year, discounts on locker rentals, overdraft facilities, health care benefits, and more, all designed to make life as comfortable as possible once you turn 55.

Kotak Grand Savings Programme	Features
Overdraft Facility	Available
Facility	By converting your savings account balance into a Kotak ActivMoney term deposit, you earn additional interest.
Interest Rate	Up to 4.00%*
Credit Card	Kotak Aqua Credit Card
Eligibility Criteria	Benefits available to Indian residents aged 55 years or above

9. Silk Women's Savings Programme

As part of the Kotak Mahindra Bank Silk programme, women are offered various financial, dining, health, and lifestyle options, enabling them to achieve what they want.

Kotak Silk Women's Savings Account	Features
Silk ATM Withdrawal limit	Rs. 40,000 Domestic Rs. 50,000 International
Silk POS Limit	Rs.2 lakh
Interest Rate	Up to 4.00%*
Debit Card	Kotak Silk Debit Card
Eligibility Criteria	Resident Indian Women above 18 years of age (Sole or Joint Account)

10. Junior - The Savings Account for Kids

Kids can experience dining, education, shopping, and edutainment rewards with the Kotak Mahindra Bank Junior Account.

Kotak Junior Account	Features
Average Monthly Balance (AMB)	Zero Balance
Debit Card	Personalised Junior Debit Card
Interest Rate	Up to 4.00%*
ATM Withdrawal Limit	Rs. 5000
Eligibility Criteria	Children below 18 years of age

11. Nova Savings Account

Designed for all your financial needs, the Nova Savings Account gives you free NEFTs and other benefits. This savings account is straightforward to open with ease in the eligibility criteria.

Kotak Nova Savings Account	Features
Average Monthly Balance (AMB)	Rs. 5,000
Free at-par cheque	Free check leaves up to 25 per year
Interest Rate	Up to 4.00%*
Debit Card	Classic Debit Card
Eligibility Criteria	Resident Indian, Hindu Undivided Families (HUFs), Foreign Nationals Residing in India

12. Sanman Savings Account

The Sanman Savings Account meets your banking needs with low maintenance fees, free ATM access, transfers, NEFT, and unrestricted access to all Visa ATMs in the country.

Kotak Sanman Savings Account	Features
Average Quarterly Balance (AQB)	Rs. 2,000
ATM Cash Withdrawal Charges	Free - at all Kotak Bank ATMs
Interest Rate	Up to 4.00%*
Withdrawal Limit / Purchase Limit	ATM Withdrawal Limit Rs. 50,000 / Daily Purchase Limit Rs.1.5 lakh
Eligibility Criteria	Resident Indians, Hindu Undivided Families (HUFs)

13. BSBDA/Small Accounts

There is no minimum balance requirement and no KYC documentation for Kotak Basic Savings Bank Deposit Account (BSBDA) and Small Savings Account (SSA).

Kotak BSBDA/Small Savings Account	Features
Average Monthly Balance (AMB)	Zero Balance Savings Account
Fund Transfer	Up to 4 withdrawals in a month – Free
Interest Rate	Up to 4.00%*
Debit Card	Classic Debit Card

How to Open a Kotak Offline Savings Account?

Below are the steps you need to follow to open a Kotak Mahindra Bank Savings Account Offline:

Step 1: Visit a bank branch where you want to open an account.

Step 2: Make sure you fill out the application for the new savings account.

Step 3: Attach your identification documents and proof of residency.

Step 4: Deposit the minimum amount into your account.

Step 5: Your account will be activated as soon as your identity has been confirmed.

What Documents are Required for Opening a Kotak Savings Bank Account?

Applicants can apply for the Kotak Mahindra Bank Savings Account by visiting the branch or online by submitting the following documents:

Photograph
KYC documents that can be accepted as proof of identity (ID Proof)
KYC documents that are acceptable for address proof
Customer declaration for Basic Savings Bank Deposit Accounts

Wrapping Up

Savings bank accounts allow you to deposit funds, earn interest, and access them whenever possible. They are similar to cash but easier to use.

There are several types of Kotak Mahindra Bank savings accounts. Its savings account holders can take advantage of attractive discounts on entertainment and commercial services, along with cashback rewards.

You can earn interest rates between 3.5% and 4% in Kotak Mahindra Bank Savings Account. In addition to offering net and mobile banking capabilities, Kotak Mahindra Bank Savings Account also provides debit and credit cards for investors.

Kotak Mahindra Bank Savings Bank Account is an excellent choice if you want a reliable saving account with many features.

FAQs

What is the best Kotak Mahindra Bank savings account?

Kotak 811 Edge Savings Account is a unique savings product that combines Kotak 811 and Kotak's regular savings accounts. This account requires a minimum balance of Rs. 10,000.

Which bank does not require a minimum balance for a Kotak Bank Savings Account?

There are three kinds of zero-balance accounts offered by Kotak Mahindra Bank, of which the Kotak 811 Full KYC account is the most useful as it comes with a chequebook and a debit card (if required), and a free digital debit card. There is no charge for NEFT, IMPS, and RTGS.

Can I deposit 1 lakh in my Kotak 811 account?

Whenever you open an 811 account through UIDAI by confirming your Aadhaar through an OTP, you can only have Rs. 1 lakh in this account at a time. In a financial year, you can have a cumulative credit of Rs. 2 lakhs in this account.

Is there a penalty for having a zero-balance account?

Regular savings accounts levy a penalty if a Kotak Mahindra bank saving minimum account balance is not maintained. Still, zero-balance accounts do not charge a penalty due to the lack of a minimum balance requirement.

What are the benefits of saving at Kotak Mahindra Bank?

Keeping a Kotak Mahindra Bank Savings Account offers numerous benefits. It is a safe investment, as no volatility is involved. As long as your money is waiting to be invested, it will earn interest. Many additional benefits come with the Kotak Mahindra Bank savings account.

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