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Founded in 1985, Kotak Mahindra Bank is one of the leading private sector banks in India. Kotak has been regarded as a supportive financial institution, which has gained the trust of several Indians in the past few decades. Not just because of its banking services, but associated features such as insurance has made Kotak Mahindra a popular brand among private banks. Opening an account with Kotak Mahindra Bank is quite easy and hassle-free. You are alloted a Kotak Mahindra Bank account number when you open a savings account. You only have to visit any of the nearest bank branches and fulfil the required procedure. Interestingly, the initial steps such as form filling can be accessed online, making Kotak a modern-day banking solution.
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Kotak Mahindra Bank Account Number Details
- Kotak Mahindra Bank has an account number of 14 digits generally.
- However, the bank offers customised account numbers of 10 digits for various accounts.
- Kotak 811 account has the account number of 8 digits
Steps to Open Kotak Mahindra Savings Account
- Initially, the individual is requested to access and fill the eligibility form associated to a savings account. This form is available online from the bank’s official website or other intermediate sources. After the submission of the form, a specific tool automatically analyses it to check the applicant’s eligibility, as well as custom-made account (savings) options.
- Secondly, the applicant is permitted to analyse the different savings account choices which are offered by the concerned tool interface. He/she can select the suitable option as per his/her convenience and requirements.
- Finally, the applicant will receive an immediate e-approval after the successful online form submission.
- A new Kotak Mahindra Bank account number will be issued to him.
Types of Kotak Mahindra Savings Account
Accessing your Kotak Mahindra Bank account number and mobile banking services are followed when you have actually made a selection regarding the type of savings account you wish to run with the bank.
Below mentioned are certain savings account options that are offered by Kotak Mahindra:
a) 811 Digital Bank Account
For opening this account you require to submit your Aadhar Card details and get the instant access to your savings account. Kotak’s 811 Digital savings account is a no commitment and zero balance savings account. You can get 6% interest per annum on the available amount in your savings account. Free amount transfer is also the key feature of this account. The account holder also gets a new 811 Virtual Debit Card that can be used for online shopping.
b) Silk Women Savings Account
Its customers get cashback on Kotak Silk Debit Card spends. This savings account offers 35% discount on locker rentals for the first year for every Silk Women’s Savings Account. The account holder can also avail non-maintenance charge waiver in your kid’s Junior savings account through linked RD or SIP.
c) Sanman Savings Account
The customer is asked to maintain an AQB (Average Quarterly Balance) of Rs. 2000 in this type of account. This will further fetch upto 6% rate of interest on the retained balance. Its account holders get enhanced daily purchase limit of Rs. 1,50,000 on this account.
d) Grand – Savings Scheme for people (55 years+)
Holding this savings account, the individual can avail almost 6% interest over the outstanding money in their account together with money sponsorship upto Rs. 4500. Moreover, the candidate is eligible to access premium service as well as first aid card.
e) Edge Savings Account
For managing an Edge Savings Account, an AQB valuing Rs. 10,000 should be retained in the account. This is actively bring you 6% interest over preserved balance.
f) Pro Savings Account
Minimum AMB of Rs. 20,000 has to be maintained to ensure 6% of interest concerned with the retained account balance per year.
g) Ace Savings Account
Having Rs. 50,000 AMB will bring the candidate 6% interest rate on the outstanding balance in their account. Moreover, the customer also gets Rs. 2 lakhs per day withdrawal limit via ATM. Account holders can avail a discount of 25% on issuance of Best Compliments Card (Gift cards).
h) Junior – Kids Savings Account
For kids, you can access a Junior Debit Card as well as ID Card. Do note that, the junior debit card would be offered to kids aged 10 plus. Earn up to 6% interest per annum on Junior and Guardian’s Savings Account balance.
Once your savings account has been initiated, do make sure to safeguard the Kotak Mahindra Bank’s account number, debit card as well as Internet banking login details (if activated).