Bank Rule Change: This bank gave a big shock to crores of customers, and changed the rules of savings and salary accounts...
Kotak Mahindra Bank has revised the charges for many services related to its salary and savings accounts. These charges have been updated for minimum balance in a 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 the average balance amount
Everyday Saving 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:
1.5 ton 3 Star Inverter Split AC is available at half the rate, order without delay
Semi-urban and rural: Rs 2,500.
Free cash transaction limit:
Daily Saving Account, Salary Account, Pro Saving, Classic Saving Account
Now it has been reduced from 10 transactions or ₹5 lakh to 5 free transactions or ₹2 lakh per month.
Privé Neon/Maxima Programme: 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:
Everyday Savings, Classic Savings, Pro Savings, Ace Savings and Privé Programs:
Kotak ATM: 7 free transactions per month.
Other Bank ATMs: 7 free transactions per month.
Maximum 30 free transactions per month jointly for Kotak and other bank ATMs.
Daily Salary and Edge Salary Account:
Kotak ATM: 10 free transactions per month.
Other Bank ATMs: No change, unlimited free transactions.
Transaction Failure Fee:
A new charge of ₹200 per instance has been introduced for all savings and salary plans.
Check Book Limit:
Single Savings Account: 25 free checkbook pages annually reduced to 5 annually.
Transaction charge
Fund Transfer (IMPS/NEFT/RTGS): Charges will be applicable after 5 free transactions per month.
Transaction Failure Charge:
Debit card/ATM usage charge: Increased from ₹20 to ₹25 per transaction if the transaction fails due to low balance.
ECS/cheque issued and then returned:
The fee has been increased from ₹150 to ₹250.
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