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Kotak Current Account

Kotak Bank Current Account Interest Rate

Last Updated 22nd Nov 2021

Kotak BankEdge Current Account
Minimum Account BalanceAverage Quarterly Balance of Rs. 25,000
Non Maintenance Charge If AQB is less than 50 percent, NMC is Rs. 1,500 If AQB more than 50 percent, NMC is Rs. 900
Cash Withdraw LimitUp to Rs. 50,000
Interest RateNil

Salient Feature of Kotak Bank Current Account:

  • One free multi city at par cheque book per month
  • Free cash deposit at non home branch locations up to Rs. 50,000 per month
  • Compare the Current Account features of Kotak Bank with other banks and pick the best bank for yourself.
  • Walk in the nearest Kotak Bank branch to open a Current Account and avail quality services.
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Kotak Bank Current Account Minimum Balance and Charges

Kotak Bank Bank Current Account Kotak Bank Bank Current Account Minimum Balance Non Maintenance Charges
Start Up PremiumAverage Quarterly Balance of Rs. 1 LakhWaiver for first 12 Months, after which, If AQB is less than 50 percent, NMC is Rs. 5,000 If AQB more than 50 percent, NMC is Rs. 3,000
Ace Current AccountAverage Quarterly Balance of Rs. 2.5 LakhIf AQB is less than 50 percent, NMC is Rs. 7,000 If AQB more than 50 percent, NMC is Rs. 4,000
Elite Current AccountAverage Quarterly Balance of Rs. 1 LakhIf AQB is less than 50 percent, NMC is Rs. 5,000 If AQB more than 50 percent, NMC is Rs. 3,000
Edge Current AccountAverage Quarterly Balance of Rs. 25,000If AQB is less than 50 percent, NMC is Rs. 1,500 If AQB more than 50 percent, NMC is Rs. 900

Kotak Bank Account Details – Current Account

Kotak Bank Current Accounts have been customised to meet the varied customer needs. Current Account are business accounts which provide unlimited daily transactions along with personalised services to help the businessmen and self employed professionals such as doctors, consultants, chartered accountants to conduct daily bank transactions. Kotak Bank also offers an overdraft facility under which a credit limit is offered to allow you to withdraw money as and when required to meet your working capital requirements.

Kotak Current Account Products

Start Up Premium

  • Waiver of non maintenance charges for the first 12 month from the account opening month
  • Auto sweep to Term deposits
  • Unsecured Overdraft facility up to Rs. 15 Lakh for short term business requirements
  • Free demand drafts of up to Rs. 10 lakh per month payable at non Kotak Bank branch location
  • Minimum balance requirement is Average Quarterly Balance of Rs. 1 Lakh
  • Charges for non maintenance of the minimum balance is Waiver for first 12 Months, after which, If AQB is less than 50 percent, NMC is Rs. 5,000 If AQB more than 50 percent, NMC is Rs. 3,000
  • Cash withdrawal limit is Up to Rs. 50,000

Ace Current Account

  • Unsecured Overdraft facility up to Rs. 15 Lakh for short term business requirements
  • Free Demand Drafts up to Rs. 30 Lakhs per month payable at non Kotak Bank branch locations
  • Minimum balance requirement is Average Quarterly Balance of Rs. 2.5 Lakh
  • Charges for non maintenance of the minimum balance is If AQB is less than 50 percent, NMC is Rs. 7,000 If AQB more than 50 percent, NMC is Rs. 4,000
  • Cash withdrawal limit is Up to Rs. 2 Lakh

Elite Current Account

  • Free Demand Drafts up to Rs. 10 Lakh per month payable at non Kotak Bank branch locations
  • Unsecured Overdraft facility up to Rs. 15 Lakh for short term business requirements
  • Auto sweep to Term deposits
  • Minimum balance requirement is Average Quarterly Balance of Rs. 1 Lakh
  • Charges for non maintenance of the minimum balance is If AQB is less than 50 percent, NMC is Rs. 5,000 If AQB more than 50 percent, NMC is Rs. 3,000
  • Cash withdrawal limit is Up to Rs. 50,000

Edge Current Account

  • One free multi city at par cheque book per month
  • Free cash deposit at non home branch locations up to Rs. 50,000 per month
  • Minimum balance requirement is Average Quarterly Balance of Rs. 25,000
  • Charges for non maintenance of the minimum balance is If AQB is less than 50 percent, NMC is Rs. 1,500 If AQB more than 50 percent, NMC is Rs. 900
  • Cash withdrawal limit is Up to Rs. 50,000

Kotak Bank Current Account Eligibility

To open a Kotak Bank Current account, one needs to fulfil the following eligibility criteria:

  • The individual applying for a current account requires authentic KYC documents.
  • It can be opened by sole proprietors, partnerships, co-operative societies, Trustors, administrations and documentation.
  • Further, Kotak Bank requires a minimum account balance of Average Quarterly Balance of Rs. 25,000 to be maintained in its current account.

Kotak Bank Current Account Opening Procedure

A current account facility can be availed in any bank through both online and offline procedures. The online process to open a current account is more time saving and easy.

Online Process:

  • Visit the Bank's website or the Bank's online current account portal.
  • Select the 'Open current account' option.
  • Fill in the personal details in the current account application form.
  • Download the application form and submit the printed copy in the Bank on your next visit.

For the offline process, one needs to visit the nearest Bank in person, with the required documents.

Kotak Current Account Opening Documents

  • Proof of identity – PAN card, voter ID card, passport, driving license
  • Proof of address
  • Recent Colour Photograph
  • PAN/Form 49 A along with Form 60 if applied for PAN
  • Account opening Cheque from existing Savings/Individual Current Account

FAQs

How much interest is offered by Kotak Bank on Current Account?

Kotak Bank like any other Current Account does not offer an interest on the account.

What is the minimum amount required for opening Current Account in Kotak?

Kotak Current Account minimum balance is Average Quarterly Balance of Rs. 25,000.

How to open a Current Account online with Kotak Bank?

To open a Current Account online you can visit the website of Kotak Bank and choose from the wide range of Current Account products offered by Kotak Bank. Click the “apply now” option, fill in your details, and submit. The bank representatives will contact you for further information and for processing your account application form.

What are Kotak Bank Current Account charges on non maintenance of balance?

The Balance Non Maintenance Charges on Current Account by Kotak Bank are If AQB is less than 50 percent, NMC is Rs. 1,500 If AQB more than 50 percent, NMC is Rs. 900.

What are the Kotak Bank cash withdrawal limit on Current Account?

The cash withdrawal limit on Kotak Bank Current Account is Up to Rs. 50,000.

Does Kotak Bank offer Debit/credit card to the account holder?

Yes, Kotak Bank offers debit card or credit card to its Current Account holders. The type and features of these debit cards or credit cards may differ with the Current Account you choose to open.


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