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Kotak Mahindra Bank Salary Account

Home Savings Account – Types, Features, Interest Rates 2022, Fees & Charges Kotak Mahindra Bank Salary Account

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City: Gurgaon
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Updated: 15-11-2021 06:27:57 AM

Note: The information on this page may not be updated. Kindly refer to the bank website to check the latest information.

Kotak Mahindra Bank provides the salary accounts that offer the perfect balance of benefits for the employees and organisation. The bank gives corporate salary accounts options loaded with a number of unique banking features and benefits such as minimum balance requirement, easy fund transfers, etc. In addition, the account holders also enjoy seamless and direct access to their salaries/money through multiple banking methods.

Kotak Mahindra Bank Salary Account Interest Rate

Kotak Mahindra Bank Salary AccountRate of Interest
Balance in excess of Rs. 1 Lakh4.00% p.a.
Balance in excess of up to Rs. 1 Lakh3.50%

Note: The above-mentioned rates are effective from 25th May 2020. These interest rates are applicable for Resident Accounts only.

Types of Kotak Mahindra Bank Salary Account
Documents Required for Kotak Mahindra Bank Salary Account
How to Open Kotak Mahindra Bank Salary Account?

Types of Kotak Mahindra Bank Salary Account

The bank offers four types of corporate salary accounts. Each of them is designed to cater to the different needs of the salaried class:

Types of Kotak Mahindra Bank Salary AccountPrimary Features
Edge Salary Account
  • Free classic debit card
  • Zero balance salary account
Platina Salary Account
  • No minimum balance requirements
  • Platinum debit card
Neo Salary Account
  • Personal accidental cover (death) worth Rs. 2 Lakh
  • Lost card liability insurance of up to Rs. 2 lakh
Ace Salary Account
  • 2.5% fuel surcharge waived off
  • Employee reimbursement account

1. Edge Salary Account

Edge Salary AccountFeatures and Benefits
Minimum Balance RequirementZero balance account
ATM Debit CardFree Classic Debit Card
Internet, Mobile and Phone BankingYes, available
EligibilityApplicant should have monthly take-home salary of Rs. 20000

2. Platina Salary Account

Platina Salary AccountFeatures and Benefits
Minimum Balance RequirementZero balance account
ATM Debit CardFree Platinum debit card
Internet, Mobile and Phone BankingYes, available
EligibilitySalary of the applicant should be Rs. 1 Lakh or above

3. Neo Salary Account

Neo Salary AccountFeatures and Benefits
Minimum Balance RequirementZero balance account
ATM Debit CardClassic debit card
Internet, Mobile and SMS BankingYes, available
ATM Withdrawal LimitRs. 40000 (Domestic ATMs)

Rs. 50000 (International ATMs)

EligibilityApplicant’s salary should be Rs. 10000 and above

4. Ace Salary Account

Ace Salary AccountFeatures and Benefits
Minimum Balance RequirementZero balance account
ATM Debit CardPlatinum Debit Card
Internet, Mobile and SMS BankingYes, available
Number of ATM Transactions AllowedUnlimited transactions at all visa ATMs
EligibilityApplicant must be getting a monthly salary of Rs. 50000 and above

Documents Required for Kotak Mahindra Bank Salary Account

While opening the salary account with Kotak Mahindra Bank, be ready with the following documents along with recently clicked passport size photographs:

Documents Required to open Kotak Mahindra Bank Salary Account
Application FormA duly filled application form will be needed
Proof of Identity
  • Aadhaar card
  • PAN card
  • Voter ID
  • Passport
  • Driving License
  • Valid Photo Debit/Credit Card
  • ID Documents issued by the PSU, Government Organizations
Proof of Address
  1. Aadhaar card
  2. Driving License
  3. Voter ID
  4. Passport
  5. Ration Card
PhotographsLatest photographs (passport size)

How to Open Kotak Mahindra Bank Salary Account?

There are two ways of opening a salary account with Kotak Mahindra Bank – by visiting the nearby branch and applying online. Here are the steps to follow while applying online:

  • Step 1: Visit the official website of Kotak Mahindra Bank and choose ‘Corporate Salary Accounts’ from the option ‘Explore Products’.
  • Step 2: Now choose salary account you want to open and click on ‘Apply Now’
  • Step 3: Fill in the details in the form and submit it.
  • Step 4: You will get your account number immediately.

A representative of the bank may contact you for the further formalities.

For offline mode, you will have to visit the nearest branch along with documents mentioned above. Fill out the form and submit it along with self-attested copies of the KYC documents.

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