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Open Savings Account Instantly!

Get best in class interest on balance with us

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Account Opening Charges

0

Minimum Balance

0

Interest Rate

6 %

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Debit Card

  • Card is no more plastic with Kotak 811
  • Get a virtual card and shrunk to fit in your mobile.
  • Pay bills faster with just few taps.
  • Just scan and pay for your shopping, groceries, home deliveries and more.

Product Features

  • Zero Minimum Balance Savings Account (no charges for not maintaining balance)
  • Up to 6 % Interest Rate Per Annum on savings a/c balance over INR 1 lakh and up to INR 1 cr
  • Earn 4.50% p.a interest on savings account balance up to INR 1 lakh and 5.5% p.a interest on savings a/c balance above INR 1 cr.(Applicable for resident accounts only)
  • Shop Travel Movies (have it all in one app)

Offers & Discounts

  • 3, 6,  9, 3, 6, 9, 12, 18 and 24 Months EMI options on FLIPKART
    • Offer Period: Valid Till 31 December 2020
  • All Kotak Mahindra Bank Limited ("Bank") Credit Cardholders ("Cardholders") have the option to purchase products from Flipkart  on Equated Monthly Installment ("EMI") by using their Kotak Credit Card
Account Opening Charges

0

Minimum Balance

0

Interest Rate

7%

Debit Card

  • Get a free International Visa Debit Card with the digiSavings account, which is also enabled for contactless payments. The card is free for first year and there is a nominal annual fee of INR 150 second year onwards.
  • Get a free International digibank bigbasket Debit Card, by signing up with a referral code ‘BBCREDIT’ and save upto INR 2400 annually on purchases made on bigbakset.
  • Set & change the Debit Card PIN from within the digibank app any time.
  • Enable and disable the ‘International Usage’ for the Debit card any time from within the digibank app.
  • Block and Unblock the debit card anytime from within the digibank app to prevent any unauthorised usage.
  • Avail exciting offers on digibank Debit Card. All offers are available on the digibank website (Promotions Section) or in the digibank app.

Product Features

  • Up to 7% interest on digiSavings account & up to 7.25% interest on Fixed Deposits
  • Unlimited ATM withdrawals at DBS Bank ATMs with the convenience of Zero balance account with Asia’s safest bank
  • Instant & affordable Health Insurance & Accident Insurance on the fly. Just DIY.
  • Invest in a flash - Hassle-free way to invest in Mutual Funds on the digibank app.
  • Instant same day fund transfers available 24/7, to any bank account in India without any charges. digibank supports various mode of payments including NEFT, UPI, RTGS & IMPS.
  • No more one-time passwords (OTPs) or security tokens for in-app transactions. Automatic authentication works seamlessly in the background, keeping your money completely safe
  • Manage all your different bank accounts on the digibank app and make payments with your digibank UPI ID
  • One app for all your bills - Pay your credit card, mobile and utility bills – and your insurance premiums – all on the digibank app, with a feature to set automatic bill payments
  • 24/7 virtual assistance with instant answers to more than 10,000 banking questions
  • Access your account from anywhere with convenience of banking form your laptop at home or desktop at work

Offers & Discounts

  • Sign-up with referral code ‘BBCREDIT’ & open a digiSavings account to get a digibank bigbasket Debit Card. Get flat 5% cashback (maximum of INR 200 per month) on purchases made on bigbasket website /app
  • Add a minimum of INR 5000 or more to your digiSavings account and get a bigbasket e-voucher worth INR 500 on your first Debit Card transaction on bigbasket
  • Avail exciting offers on digibank Debit Card. All offers are available on the digibank website (Promotions Section) or in the digibank app
Sorry! We couldn't find any offer matching this category.

FAQ

Savings account is basically a deposit account that an individual keeps with a bank or any financial institution that provides a moderate interest rate and principal security. This account is considered to have high liquidity so that one can withdraw the amount at any point of time.

There are various types of savings account for different purposes:

·Salary account:

This is type of account where the salary of an individual is usually disbursed. This is a type of account where the minimum balance obligation is waived off and is restricted to one account per person.

·        Joint account:

This is a special type of account that is usually handled by multiple account holders. Banks allow 2-4 account holders for a single joint account currently.

·        Woman’s savings account:

This type of account is only provided to a woman and holds special features and interest rates applicable.

·        Minor’s savings account:

This type of account is held by an adult, making a minor child its secondary holder. Usually Parents open this account for their children in order help them save money for themselves.

·        Senior citizen’s savings account: This is a type of account that is offered only to people who are above the age of 60, this account holds special features and waivers accordingly.

Savings account can be availed from any commercial bank in the country. You can visit any branch of a commercial bank and request for a savings account, but you can opt for a much easier way, all you need to do is log on to CreditKaro.com and select savings account from the tabs on the home page, once you reach the product list page, choose the one that suits you the best from the options below.

Following factors affect the selection of a savings account:

  •         Interest rate
  •         Minimum balance required
  •         Branch availability
  • Customer service

NO. There are no age restrictions when it comes to opening an savings account.

According to RBI regulations, banks are liable to charge a penalty against non-maintenance of an operational savings account, this penalty also includes service tax and education cess at the applicable rates. Only a dormant account is free from any penalty.

Interest rates usually vary from bank to bank, but the range varies from 4% to 7% per annum.

- The interest rate that you earn is calculated either on a daily basis or monthly and it is credited to your account on a half yearly basis.

 

Anyone above the age of 18 can open a joint account, the only significant difference here from a regular savings account is that two people can operate the account.

 Yes. If you decide to open a savings and a fixed deposit account together, many banks provide the facility of no minimum balance maintenance and waivers on additional fees.

·        Proof of ID

·        Passport

·        Voter’s ID

·        Permanent driving license

·        Aadhaar card

·        NREGA job card

·        Residence Proof:

·        Society outgoing bill

·        Electricity/ Water/telephone bill

·        Gas bill(pipeline)

·        Property tax statement

·        Domicile certificate

·        Aadhaar card

·        NREGA job card

·        Defense ID card

·        Registered rent/lease agreement

·        Basic savings account

·        Salary account

·        Minor’s account

·        Woman’s saving account

·        Senior citizen’s savings account

The minimum account balance in a savings account can vary from INR 0 to INR 25000 depending upon which bank you’ve chosen.

As per Reserve bank of India (RBI) guidelines an account becomes dormant when no transaction has been initiated by any means (cash withdrawal, issue of cheque, fund transfer, internet banking etc.) for two years at a stretch.

As a senior citizen there are various facilities you can avail from the account such as:

·        Priority services

·        Discounts at partner outlets

·        Free of cost alerts

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