look news india
Kotak Mahindra Bank: Kotak Mahindra Bank has revised the charges for several services associated with its salary and savings accounts. These charges have been updated for minimum balance in savings account, free transaction limit, ATM transaction limit, standing instruction failure limit and check book limit. This revision is part of the bank's general schedule and general list of charges. Kotak Mahindra Bank has given information about all these revised charges on its website.
Kotak Bank has revised these charges
Rules instead of average balance
Daily Savings Account
Metro and Urban: Reduced from ₹20,000 to ₹15,000
Semi-urban: Reduced from ₹10,000 to ₹5,000
Rural: Reduced from ₹5,000 to ₹2,500.
Sankalp Savings Account:
Semi-urban and rural: Rs 2,500.
Free Cash Transaction Limit:
Daily Savings Account, Salary Account, Pro Savings, Classic Savings Account
It has now been reduced from 10 transactions or ₹5 lakh to 5 free transactions or ₹2 lakh per month.
Privé Neon/Maxima Program: Now limited to 7 free transactions or Rs 5 lakh.
Solo Savings Account: Reduced from 2 transactions or ₹1 lakh to 1 free transaction or ₹10,000 per month.
ATM Transaction Limit:
Daily Savings, Classic Savings, Pro Savings, Ace Savings and Privy Programs:
Kotak ATM: 7 free transactions per month.
Other Bank ATMs: 7 free transactions per month.
Maximum 30 free transactions per month for Kotak and other bank ATMs combined.
Daily Salary & Edge Salary Account:
Kotak ATM: 10 free transactions per month.
Other Bank ATMs: No change, unlimited free transactions.
Transaction Failure Fee:
A new fee of Rs 200 per time has been imposed for all savings and salary plans.
Cheque Book Limit:
Single Savings Account: 25 free cheque book pages per annum reduced to 5.
Transaction Fees
Fund Transfer (IMPS/NEFT/RTGS): Charges will be applicable after 5 free transactions per month.
Transaction Failure Fee:
Debit Card/ATM Usage Charges: Increased from ₹20 to ₹25 per transaction if transaction fails due to low balance.
ECS/Cheque issued and then returned:
The fee has been increased from ₹150 to ₹250.