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Online Kotak Savings Account Opening

Open Kotak Saving Account

Last Updated 22nd Nov 2021

Interest Rate 3.50%
Minimum Balance Requirement Rs. 5,000
Cash Withdrawal Limit --
ATM Transaction Charges If AMB > 50 percent but less than required AMB: Rs. 350; AMB less than 50 percent : Rs. 450
Debit Card --
Yes Bank
Returns bhi, Rewards bhi
5.5%* interest p.a + up to 1500** YES Rewardz Points on account opening
Earn up to 50k** YES Rewardz Points in 1st year
Exclusive offers on Demat & Lockers
OPEN YOUR ACCOUNT DIGITALLY NOW
Disclaimer: For balance above INR 10 lcs to INR 1Cr. For YES FIRST customers. Terms and conditions apply. For more details please visit: www.yesrewardz.com
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Kotak Savings Account Opening

Kotak Bank Savings accounts in Kotak can be opened online or offline. To open Kotak offline, you have to visit the branch, fill the application form and submit documents.

Steps for Opening Kotak Savings Account Online

To open the savings account online in Kotak, you have to follow these steps:

  • Step 1: First, visit the official website of Kotak.
  • Step 2: Go to Savings Account option and select the option ‘Apply Now’.
  • Step 3: Fill the required details like Name, Contact number, Date of Birth, Address etc. and click on ‘Submit’.
  • Step 4: Verify the details with the documents like PAN and Aadhar or any other document as required by the bank.
  • Step 5: Kotak’s executive will verify all the submitted documents.
  • Step 6: After the successful verification of your documents, Kotak will share the welcome-kit containing debit cum ATM Card, PIN and cheque book with you.
  • Step 7: Once the account is activated, you can register your mobile number and use a debit Card and cheque book for banking services.

Steps to Open Kotak Savings Account at Branch

To open a savings account with Kotak at a branch, you must follow these steps:

  • Make sure that you carry with you an identification proof (preferably your PAN Card), an address proof (preferably your Aadhaar card), and two passport size photographs.
  • After reaching the branch, ask the clerk that you want to open a savings account. The clerk will give you the application form.
  • Fill the savings account application form with required details and attach the photographs on the form where required.
  • After duly filling the form and signing it, submit the savings account application form along with necessary documents and required money (in case of minimum balance account) with the clerk.
  • Your account will be functioning within a week or so, and the bank will inform you about it through a call/SMS/email.

Eligibility of opening Savings Account in Kotak

You have to fulfil the following eligibility criteria to open a savings account in Kotak:

  • This account is for resident Indians of 18 years of age and above.
  • HUF can also open a savings account.
  • Foreign nationals residing in India need to obtain an undertaking on Form QA 22, which must be duly signed by all the persons.

Open saving account with Other Banks online

FAQs

How can I open a savings account in Kotak?

You can open a savings account in Kotak either by applying online through the website or by visiting the branch nearby and submitting your application form there.

Can I open a savings account online in Kotak?

Yes, you can open a savings account online, by applying for it through the Kotak’s official website.

What is the minimum balance in Kotak?

The minimum balance required to open a savings account in Kotak is Rs. 5,000.


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Kotak News - Dec 2021
  • 2021-10-13 : Kotak Mahindra Bank Launches Micro ATMs in India
    Kotak Mahindra Bank has launched Micro ATMs in India. These ATMs can be used by all debit card users to withdraw cash or checking account details. Micro ATMs are handheld devices, it is an alternative to regular ATMs allowing faster expansion and increasing banking touchpoints.
  • 2021-09-23 : Kotak Bank Revises Savings Account Rates
    The savings account interest rates of Kotak Bank has been revised to 3.50% for regular and senior citizens.
  • 2021-03-05 : Kotak and Indian Army ink pact for salary account
    Kotak Bank signed a memorandum of understanding with the Indian Army in New Delhi for a salary account. The MoU enables Kotak to offer its salary account and its exclusive benefits for the Indian Army.
  • 2020-05-26 : Kotak Bank lowered savings rate to 3.5% for up to Rs 1 lakh balance
    Kotak Mahindra Bank reduced the interest rate on savings account deposits of up to Rs 1 lakh by 25 bps to 3.5%. This is the bank second cut to the savings rate in two months.
  • 2020-05-19 : Kotak Bank launches video KYC for opening 811 savings account.
    Kotak Mahindra Bank on May 18 announced the introduction of video KYC to open a full-fledged Kotak 811 savings account. Through this process, verification of KYC documents and recording a customers signature can be completed over a video call. This will eliminate the need for a visit to the branch or in-person interaction, biometric verification or sharing of physical documents.
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