Particulars Details Everyday Account for Salaried Professionals
AMB (Average Monthly Balance) - Salary credit or Rs. 25,000 AMB
Non Maintenance Charge (NMC) - Monthly $ Charges for non-maintenance of minimum monthly average balance In case salary is not sighted or product AMB not maintained for 2 consecutive months, the account shall be converted to CS EDGE & GSFC for CS EDGE shall be applicable.
Fund Transfers NEFT / RTGS / Fund Transfer (Through Net-banking / Mobile Banking) Nil Charges
NEFT / RTGS - Applicable only if done in Branch  Nil Charges
IMPS Nil Charges
Cash Transactions Cash Transaction at Branch / Cash Deposit Machine/Recyclers  Nil Charges up to 5 transactions or Rs. 3 lakh/month whichever is earlier. Post these limits, charged at Rs. 4.5 / 1000 (Minimum Rs. 150)
Debit Card / ATM Charges Kotak Bank's ATM - Cash Withdrawal / Non-Financial Transactions Nil Charges
Other Domestic ATMs - Cash Withdrawal## / Non-Financial Transactions  Nil Charges
Declined Domestic ATM Transactions due to insufficient balance/ Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019) Rs. 25 per transaction
Cash Withdrawal / Non-Financial Transactions at International ATMs + Rs.150 per cash withdrawal transaction & Rs. 25 per non-financial transaction
Cardless cash withdrawal (IMT) Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10 per transaction
DD / Cheque Book DD Nil Charges
FCY - DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return Rs. 500 / instance
At-par Cheque Book Charges Nil Charges
ECS / Cheque Issued & Returned (due to non-availability of funds) Rs. 500 / instance
ECS Mandate Verification Nil Charges
SI Failure Rs. 200 / instance
Cheque deposited and returned (INR)<> Rs. 200 / instance
Cheque Issued & Returned for Non-Financial Reason Rs. 50 / instance
Branch Requests Duplicate Ad-hoc statement, Balance & Interest Statement, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment - Single / Range of cheque thru branch; DD Revalidation; PO / BC Revalidation/ Cancellation (INR); Annual Combined Statement-Physical; Monthly Physical Statement; Regeneration of PIN of Net Banking / Phone Banking (sent through courier)/DD Cancellation (INR)/Foreign Inward Remittance Certificate Nil Charges
DD Cancellation Nil Charges
Home Banking Cash / Instrument Pick Up / Delivery Nil Charges for 2 Calls / month, thereafter Rs. 150 per visit 
KYC Pickup – Only for senior citizen and differently abled### Rs. 100 per visit
Family Banking - 3 NMC Waived Family Savings Account
Statements & Alerts Statements Email Statement (Monthly): Nil Charges
Physical Statement (Quarterly): Nil Charges
Other Charges Value added alerts (Daily / Weekly) 50p. per SMS (Daily) & Weekly-Nil
TOD  Rs. 500
Account Closure charges (if closed after 1 month & before 6 months of account opening) Rs. 500
Complimentary Services Passbook (in lieu of Account Statement), Current Year Balance and interest statement, Signature Verification Certificate, Photo Attestation, Address Confirmation Nil Charges
Debit Card Annual Charges Every Day Debit Card Nil Charges
Kotak PVR Debit Card Rs. 499 
Other Debit Card Related Charges Replacement of Lost / Stolen Debit Card Rs. 200
Regeneration of PIN (sent through courier) Nil Charges

As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts.

##Cash withdrawal limit from other Domestic ATM/Micro ATM is Rs. 10,000 per transaction.  Mandatory Alerts will not be charged. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed. **Indo - Nepal Remittance Scheme (NEFT Charges): If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Annual maintenance charges on Debit Card for Everyday Account for Salaried Professionals is waived subject to regular salary credits or AMB of Rs. 10,000 in the account. The Bank will charge cross-currency mark-up charge of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the Visa/Master Card/RuPay wholesale exchange rate prevailing at the time of transaction. A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS). +Additional charges levied by another bank on international ATM/Micro ATM transactions will also have to be borne by the card holder.
<> Penalty Charges.
$ Please note, if your account is currently in dormant status, non-maintenance charges will not be applicable to the same. In order to activate your account, please visit your nearest Kotak Bank branch
For Corporate Salary Accounts, in the event of a default in maintenance of Average Monthly Balance or regular salary credits as agreed between the bank and customer for the month (referred as Default Month'), the bank will notify the customer clearly of the default and that either salary credit to be sighted or Average Monthly Balance for the account has to be met in the subsequent month (referred to as 'Notice Month') else the NMC (Non Maintenance Charges) for both the 'Default Month' and 'Notice Month' will be recovered. Closure of account due to revision of charges will not be subject to account closure charges. For Corporate Salary account holders Family Savings Account will enjoy waiver of NMC till such time the linked principal Salary account receives monthly salary credits or maintains the required product AMB. In the event of Principal salary account not receiving salary credit or maintaining the required AMB, the linked Family Savings account should maintain AMB of Rs. 10,000; failing which standard charges of edge account (CS EDGE) would apply in the Family Savings Account. For Corporate Salary Accounts Debit Card charges are subject to salary credit. If salary is not credited for 3 consecutive months, accounts with > 5 free transactions at other bank ATM/Micro ATMs will be downgraded to only 5 transactions irrespective of the corporate offering. Program customers will be excluded from this exercise. Non-financial transactions are Balance Enquiry, Mini Statement & PIN Change. For Corporate salary account with S2W SELECT offering, the zero balance feature in your account is subject to regular monthly salary/pension credit OR single credit transaction of minimum Rs. 20,000 per month in Everyday Account for Salaried Professionals, through NEFT/RTGS only (Cash deposit, Cheque deposit and fund transfer from any other Kotak Bank account will not be considered). In case salary/funds are not credited, you are required to maintain Average Monthly Balance (AMB) as per the product variant to continue with account features and avoid non maintenance charges. The bank may choose to notify by SMS / email / letter. It will be the responsibility of the customer to have a valid email id ,mobile number and address updated with the bank at all times, failing which, customer may not receive the notification/s.
The NMC charges will be based on the shortfall observed in the AMB. Service Charges for Overdraft Fixed Deposit Individual Account (ODFDS) & Overdraft Fixed Deposit Corporate Salary Account (ODFDC) would be same as Edge Savings Account & Edge Corporate Salary Account respectively. However, there is no minimum AMB requirement in ODFDS or ODFDC. Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350 per rejection. Charges are exclusive of the Goods and Service Tax (GST). With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time. The above charges are subject to revision with a prior intimation of 30 days to all account holders. All Services, where a free limit is specified, usage beyond the free limit will be charged as per the standard charge of the respective service. State government taxes / Cess as applicable shall be charged. w.e.f 1st July, 2020; TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year. ^For new customers on boarded w.e.f Nov 10, 2021. For existing bank customers w.e.f from Jan 1, 2022. Rs. 150 + GST will be applicable for existing bank customers till Dec 31, 2021.

Monthly physical statements will be issued free to account holders on them personally visiting the home branch for the same.

Please note that the Cash Pickup/ Delivery charges pertain to the “Cash Pick-up/ Delivery” service offered to the customer. Additional charges for cash transactions shall be levied basis the Cash Transaction limits offered under the respective variant. The Cash pick-up amount shall be a part of the overall Cash transaction limits offered under the variant.

Charges are exclusive of the Goods and Service Tax (GST).

With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time.

State government taxes/Cess as applicable shall be charged.


W.e.f 1st July,2020; threshold as well as Rate of TDS applicable for CASH withdrawal will be dependent on submission of proof of Income Tax Return filed. Revised TDS rates will be as under:


Aggregate Cash Withdrawals in all accounts in a Financial Year

Income tax Return copy Submitted to Bank

Income tax Return copy NOT Submitted to Bank

Upto Rs.20 Lakh



Rs. 20 Lakh to Rs. 1 crore



In Excess of Rs. 1 crore



.@If PAN is not updated in the account then the TDS deduction at the rate 20% as per section 206AA of the Income Tax Act will apply. For foreign companies, foreign partnership firms, Non-residents additional surcharge and health & education cess will be applicable as per Income Tax law.


Ready to take the next step?


Disclaimer - W.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only.

Please note, if your account is currently in dormant status, non-maintenance charges will not be applicable to the same. In order to activate your account, please visit your nearest Kotak Bank branch .

$Year is defined as period of 12 months from 1st January to 31st December for cheque book issuance charges


Related Articles