Kotak Mahindra Bank is a private sector bank set up in the year 1985 and is head-quartered in Mumbai, Maharashtra, India. It is type of a public company basically dealing in deposit accounts and providing investment and business banking services to its customers. It has over 641 network branches and over 1,159 ATMs operating worldwide.
It is a unique alphanumeric code that specially identifies the branch of the bank that is involved in Electronic Fund Transfers. Every bank-branch has a varied IFSC code providing a unique identification to each branch.
Kotak Mahindra Bank offers a wide variety of credit cards that cater to all the needs and requirements of the customers. These are:
- Silk Inspire: It offers a discount on clothing spends and also fuel surcharge waiver.
- Urbane Gold: It offers a discount on the shopping of apparels and also free PVR tickets to the card-holders.
- Essentia Platinum: It provides discounts on departmental and grocery shopping as well as several other special offers.
- Easyday Titanium: It offers free sugar vouchers on monthly shopping and Easyday vouchers on each and every spends made by the holders.
- Easyday Silver: It provides free sugar vouchers on grocery spends and many Easyday vouchers as well.
- Wealth Management Infinite: The design on this card is personalised and it gives free access to many international events because of a higher credit limit this card hold.
- Royale Signature: It provides free access to more than 600 Airport Lounges worldwide as well as a range of reward offers and many other dining privileges.
- Privy League Signature: It offers free PVR movie tickets, free airport lounge access, concierge services and Taj memberships.
- League Platinum: It provides free PVR movie tickets and several other special reward programmes to choose from.
- PVR Gold: It provides free PVR movie tickets on the monthly bill cycle.
- PVR Platinum: It offers free PVR movie ticket on monthly bills anywhere in India.
- Delight Platinum: It offers cash-backs on movie tickets and dining and also fuel surcharge waiver.
- Feast Gold: It provides dining points on all the dining and movie spends that is redeemable on a number of items.
- NRI Royal Signature: It offers freedom to make the transaction in Rupees and the consumer can earn reward point on his spends outside India too.
- Corporate Wealth Signature: It offers cash-back facilities on each and every and also provides the opportunity to make interest-free funds on credit card overdraft facility.
- Corporate Platinum: Offers like higher reward points and fuel surcharge waiver are available through this card.
- Corporate Gold: It provides a statement detailing about each and every and also gives free SMS alerts.
- Aqua Gold: Free movie tickets and fuel surcharge waiver offers are provided.
- Fortune Gold: Free movie tickets and fuel surcharge waiver on petrol pumps are offered.
- Best Price: It provides an advantage of a 14-day credit cycle starting new on every transaction and is free of cost.
Kotak Mahindra Bank Credit Card Statement
Kotak Mahindra Bank issues a summarised statement to its card-holders on a monthly basis that contains all the details regarding the purchases and payments that have been made by the card-holder using the credit card. It also shows the outstanding balance in the credit card at the end of the month. This statement is issued to the card-holder through an email on the registered email account.
KMB offers a variety of Savings Accounts and Fixed Deposit Schemes having varied rates of interest. These are the types of Savings Accounts:
- Kotak Mahindra My Family
- Kotak Mahindra Platina
- Kotak Mahindra Sanman Account
- Kotak Mahindra Grand
- Kotak Mahindra Jifi Saver
- Kotak Mahindra Ace
- Kotak Mahindra Edge
- Kotak Mahindra Pro
- Kotak Mahindra Classic
- Kotak Mahindra Nova
- Kotak Mahindra Silk
- Kotak Mahindra Junior
|Deposit Scheme||Interest Rate||Extra Benefits||Monthly Balance|
|Kotak Edge Savings Account||6% p.a||Free access to all domestic VISA ATMs||Rs 10,000 (AMB)|
|Kotak JIFI PRO||6% p.a||
Free cash pick up and delivery
Free Platinum Plus card with petrol surcharge waiver
|Rs 20,000 (AMB)|
|Kotak PRO Savings Account||6% p.a||NMC waived savings account for the family members||Rs 20,000 (AMB)|
|Kotak JIFI Saver||6% p.a||Free online transfers||Rs 10,000 (AMB)|
|Kotak ACE Savings Account||6% p.a||Extended debit cash withdrawal limit of Rs 2 lakh every day||Rs 50,000 (AMB)|
|Kotak SILK – Women’s Savings Account||6% p.a||
35% discount on locker rentals
50% discount on best compliments card issuance fee
|Kotak Classic Savings Account||6% p.a||NMC waived NOVA savings account for family members||Rs 10,000 (AMB)|
|Kotak NOVA Savings Account||6% p.a||Free access to all domestic VISA ATMs||Rs 5,000 (AMB)|
All the above savings accounts earn an interest rate of 6% p.a. payable on a daily basis.
KMB offers a host of fixed deposit schemes to its card-holders at attractive interest rates in order to maximise the returns on their savings. For senior citizens the interest rates are 0.50% above.
KMB offers Savings Account, Deposit Accounts and Special Accounts for Non-Resident Indians under different types of accounts. They are:
- NRO Rupee Savings: This account provides quick access of Indian income.
- NRE Rupee Savings: It makes the foreign earnings tax-free and repatriable.
- Rupee Advantage Plan: It provides a cover on INR with higher returns.
- Max Yield NRO Deposit: It enables the account holder increased earnings on his savings.
- FCNR Deposits: It provides higher earnings that are tax-free and repatriable.
- NRO Term Deposits: Finances can be increased in India and are easily accessible from anywhere.
- NRE Term Deposits: Higher tax-free and repatriable earnings with other value-added services are available.
- Privy League: It is a special banking facility providing special benefits and financial solutions to its consumers.
The bank provides the customers with internet banking facility through which banking process can be done at the click of a button and at the comfort of the house. Some of the features of internet banking are as follows:
- Bank account statements can be checked easily
- Funds can be moved from one account to another
- Fixed deposit account can be opened
- Utility and other bills can be easily paid
KMB provides a series of loans and other tailor-made facilities and services thus making financial banking facility hassle-free. The different loans offered are:
- Home Loans
- Personal loans
- Education loan
- Tractor Finance
- Loan Against Property
- Rural Auto and Farm Equipment Finance
- Home Improvement Loan
- Home Loan Balance Transfer
- Gold Loans
- Commercial Vehicle Finance
- Loan Against Securities
- Construction Equipment/ Infrastructure Finance
- Unnati Auto Finance