Frequently Asked Questions


What is the ActivMoney facility?

Through this facility you can earn a much higher interest on your idle funds in the Savings Bank Account.

The idle funds from your savings account (at a pre-specified threshold limit) are transferred automatically to a term Deposit. The funds move back in to the savings account in case of funds requirements.

The advantages of this facility are:

  •         Higher rate of interest earned.
  •         You need NOT track idle funds regularly & give instructions to the bank to create Term Deposits out of Savings Account balances.
  •         Greater Flexibility & Liquidity as the funds flow back into the Savings Account if the balance in the Savings Account falls below a particular level.

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What is Edge Savings Account?

An Edge Savings Account is a straightforward savings account that combines the best of regular and privileged banking to give you many benefits with limited premium services.

Designed to suit the requirements of the new-age professional, Kotak Edge Savings Account gives you a little bit extra than a regular savings account. So, enjoy free access to all domestic Visa ATMs or carry-out NEFT transactions from your phone, all with one savings account.

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What are the advantages of Edge Savings Account?

The advantages of holding an Edge Savings Account are:


  •          Average Monthly Balance (AMB) of Rs. 10,000/-
  •          Earn up to 4% interest on your savings account balance1
  •          Free access to all domestic VISA ATMs, up to five transactions per month2
  •          Classic Debit Card
  •          Free at-par cheque (up to 25 leaves per quarter)
  •          Free Phone Banking, Net Banking and Mobile Banking
  •          Free NEFT (only through Net Banking)
  •          Free cash withdrawals at Kotak Bank ATMs
  •         Convert savings account balance above a certain amount into Term Deposits with Kotak ActivMoney

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Who are eligible to open an Edge Savings Account?

To apply for Kotak Mahindra Bank Savings Account, you should belong to any one of the below mentioned categories:


  •    Resident Indians (sole or joint account)
  •    Hindu Undivided Families
  •    Foreign nationals residing in India

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What is the minimum Average Monthly Balance (AMB) requirement for an Edge Savings Account?

The minimum Average Monthly Balance requirement in an Edge Savings Account is Rs. 10,000/-.

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How is the Average Monthly Balance (AMB) requirement calculated for savings account?

Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.

Please refer the following illustration for the calculation of AMB.

Sample Bank Statement:

Sr. no.





Closing balance


January 1st, 2012

Opening Balance



Rs. 10,000/-


January 10th, 2012

ECS Credit-VD


Rs. 10,000/-

Rs. 20,000/-


January 16th, 2012

Cash Withdrawal

Rs. 5,000/-


Rs. 15,000/-


January 25th, 2012

Cheque Deposit- MICR Clearing


Rs. 20,000/-

Rs. 35,000/-


January 28th, 2012

HPCL Petrol Pump POS 43860000000012

Rs. 1,000/-


Rs. 34,000/-


January 30th, 2012

Cash Deposit Mumbai


Rs. 9,000/-

Rs. 43,000/-


January 31st , 2012

Funds Transfer

Rs. 25,000/-


Rs. 18,000/-

AMB Calculation:

Sr. No.

Time Period


Amount (Rs.)


EOD Balance from January 1st, 2012 to January 9th, 2012

Rs. 10,000/- x 9

Rs. 90,000/-


EOD Balance from January 10th, 2012 to January 15th, 2012

Rs. 20,000/- x 6

Rs. 1,20,000/-


EOD Balance from January 16th, 2012 to January 24th, 2012

Rs. 15,000/- x 9

Rs. 1,35,000/-


EOD Balance from January 25th, 2012 to January 27th, 2012

Rs. 35,000/- x 3

Rs. 1,05,000/-


EOD Balance from January 28th, 2012 to January 29th, 2012

Rs. 34,000/- x 2

Rs. 68,000/-


EOD Balance for January 30th, 2012

Rs. 43,000/- x 1

Rs. 43,000/-


EOD Balance for January 31st , 2012

Rs. 18,000/- x 1

Rs. 18,000/-


Total EOD balances for the month January 2012


Rs. 5,79,000/-


Divide by the no. of days in the month




Average Monthly Balance (AMB)


Rs. 18677.42/-

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In what ways can I track my savings account?

You have access to a number of channels to track the transactions in your savings account:

  • Physical account statements are sent quarterly for Edge/Pro/Ace savings accounts
  • Mini statements through the ATM
  • Email and Mobile alerts
  • Savings Account balance enquiry through SMS
  • View savings account details & transactions through Net Banking

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