Kotak bank launch EveryDay RuPay Platinum debit card for EveryDay saving accounts

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abhishek012

Kotak bank launch EveryDay RuPay Platinum debit card for EveryDay saving accounts:

Apply Link: https://www.kotak.com/en/personal-banking/accou...

Say goodbye to Non Maintenance Charges

Transact* 30 times a month or maintain Average Monthly Balance of Rs. 20,000/- to get Non Maintenance charges (NMC) waived off

Who doesn't love an incentive?

Surprise rewards on achieving transaction milestones during the month

Offers for your special Birthdays

Special Offers on your Birthdays and completion of your anniversary with the bank

Get a power-packed Debit Card

Enjoy exclusive offers and discounts on your Everyday RuPay Platinum Debit Card, every day of the week

Introducing the Everyday RuPay Platinum Debit Card

https://cdn0.desidime.com/attachments/photos/804659/medium/kotaka.jpg?1663084707

  • 1st year free Everyday RuPay Platinum Debit Card (No Issuance charges)
  • Higher Daily Limits for transaction within India and abroad: Rs. 3,00,000 and Higher ATM Withdrawal Rs 1,00,000/-
  • Take advantage of free Unlimited domestic transactions at Kotak Bank ATMs and 10 free ATM transactions on other bank ATMs per month
  • Higher Insurance Cover (T&C apply)
  • Insurance cover comes with Lost Card Liability: Rs. 3,50,000 | Purchase Protection Limit: Rs. 1,00,000 | Lost Baggage Insurance: Rs. 1,00,000 | Air Accident Insurance: Rs. 50,00,000 | Personal Accidental Death Cover of up to Rs 25,00,000 (T&C apply)
  • 2nd year onwards an Annual Fee of Rs. 250/-
Spend Everyday, Save Everyday with these amazing offers

BookMyShow - 20% instant discount

20% instant discount on BookMyShow using Everyday Rupay Debit Card. Offer is valid on Movies, Events, Concerts, Plays, Sports & Activities, Excluding BMS Stream & F&B. Offer can be availed twice per card on the specific debit card in a month

Eazydiner - 30% off

Upto Rs. 1000 off – 30% instant discount on No minimum bill value. Valid once in 8 days on Everyday Rupay Debit Card.

Everyday offers on dining, travel, movies, groceries, medicines and more
Amazon Fresh

10% instant discount I Minimum Transaction INR 1500 I Max Discount INR 300

Valid Till : 30 November 2022

Read More

Make My Trip

Flat 12% instant discount on Domestic Flights (Maximum discount of Rs.1,500) Minimum ATV Rs 3000
Flat 15% instant discount on Domestic Hotels (Maximum discount of Rs.5,000)MInimum ...

Valid Till : 27 November 2022

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Myntra

Get 10% Instant discount on a minimum purchase of Rs. 3000 up to a maximum discount of Rs. 1000 per card per month

Valid Till : 30 November 2022

Read More

Eligibility Criteria

To apply for Kotak Mahindra Bank Everyday Savings Account, you should belong to any one of the below mentioned categories:

  • Resident Indian (Sole or Joint Account)
  • Hindu Undivided Families
  • Foreign Nationals Residing in India1

https://cdn0.desidime.com/attachments/photos/804664/medium/maxresdefault.jpg?1663085339

Fees and Charges

Particulars Details Everyday Savings Account
AMB (Average Monthly Balance) Rs.20,000 (AMB)
Charges for non-maintenance of minimum monthly average balance 6% of the shortfall in required AMB per month (Max upto Rs.600/-) – to be waived, on transacting 30*times during the month
Fund Transfers NEFT / RTGS / Fund Transfer (Through Net-banking / Mobile Banking) Nil Charges
NEFT / RTGS - Applicable only if done in Branch NEFT : Upto 10,000: Rs. 2; 10,001 to 1,00,000: Rs.4; 1,00,001 to 2,00,000:
Rs.14; > 2,00,000: Rs. 24 ; RTGS: 2,00,000 to 5,00,000: Rs. 20; > 5,00,000: Rs. 40
IMPS Nil Charges
Cash Transactions Cash Transaction at Branch / Cash Deposit Machine/Recyclers Nil Charges up to 5 transactions or 3 lac / month whichever is earlier. Post these limits, charged at Rs 4.5 / 1000 (Minimum Rs 150)
Debit Card / ATM Charges Kotak Bank's ATM - Cash Withdrawal / Non-Financial Transactions Nil Charges
Cash Transactions Cash Transaction at Branch / Cash Deposit Machine/Recyclers Nil Charges up to 5 transactions or 3 lac / month whichever is earlier. Post these limits, charged at Rs 4.5 / 1000 (Minimum Rs 150)
Debit Card / ATM Charges Kotak Bank's ATM - Cash Withdrawal / Non-Financial Transactions Nil Charges
Other Domestic ATMs - Cash Withdrawal / Non-Financial Transactions 10 transactions free; Rs. 21 for Cash withdrawal and Rs. 8.5 for non financial
Declined Domestic ATM Transactions due to insufficient balance/ Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019) Rs.25 per transaction
Cash Withdrawal / Non-Financial Transactions at International ATMs + Rs.150 per cash withdrawal transaction & Rs 25 per non-financial transaction
Cardless cash withdrawal (IMT) Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction
DD / Cheque Book DD Nil Charges upto 100K; Post these limits (Rs.4 / 1000 (Min 50, Max 10,000), for Senior citizen Rs. 3 / 1000)
FCY - DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return Rs. 500
At-par Cheque Book Charges #100 Chq leaves Nil Charges / Year; Thereafter Rs.3 / cheque leaf.
ECS / Cheque Issued & Returned (due to non-availability of funds) Rs.500 / instance
ECS Mandate Verification Nil Charges
SI Failure Rs.200 / instance
Cheque deposited and returned (INR) Rs.200 / instance
Cheque Issued & Returned for Non-Financial Reason Rs.50 / instance
Branch Requests Duplicate Ad-hoc statement, Balance & Interest Statement, Duplicate Passbook, TDS Certificate Through Branch or any other Record Retrieval, Stop Payment - Single / Range of cheque thru branch; DD Revalidation; PO / BC Revalidation/ Cancellation (INR); Annual Combined Statement-Physical; Monthly Physical Statement; Regeneration of PIN of Net Banking / Phone Banking (sent through courier)/DD Cancellation (INR)/Foreign Inward Remittance Certificate Rs. 100
DD Cancellation Rs. 100
Home Banking Cash / Instrument Pick Up / Delivery Nil Charges for 2 Calls / month, thereafter Rs.150 per visit
KYC Pickup – Only for senior citizen and differently abled### Rs. 100 per visit
Family Banking Applicable as per My Family Banking
Statements & Alerts Statements Email Statement (Monthly): Nil Charges ;
Other Charges Value added alerts (Daily / Weekly) 50p. per SMS (Daily/ Weekly)
TOD TOD: Rs.500;
Account Closure charges: (if closed after 1 month & before 6 months of A/C opening) Rs.500
Complimentary Services Passbook (in lieu of Account Statement), Current Year Balance and interest statement, Signature Verification Certificate, Photo Attestation, Address Confirmation Nil Charges
Debit Card Annual Charges Every Day Debit Card 1st year free 2nd year Rs. 250
Other Debit Card Related Charges Replacement of Lost / Stolen Debit Card Rs. 200
Regeneration of PIN (sent through courier) Nil Charges
Forex Card Particular
Issuance Fee
Reload Fee


Expiring In 6 days
Top Comments
Deal Cadet Deal Cadet
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Private banks are not much different from public sector banks.

Kotak took 15 days to open Everyday Savings Account and they issued Visa Platinum to me on Everyday Savings Account, and blocked my Visa Classic on 811 account which is altogether different account from Everyday Savings Account. They were just interested in getting me to open either a demat account with Kotak Securities or invest in some mutual fund NFOs. Terrible bank service. I've had far better service in some public sector banks. Not all but some of them very good experiences.

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Community Angel Community Angel
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How to upgrade 811 acc to everyday savings account.. And how to apply for rpdc? Online or Offline? 
Deal Cadet Deal Cadet
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Really awesome news. I wish they would waive debit card annual charges for keeping ₹20000 balance like HDFC does with SavingsMax but still good as long as we can enjoy RuPay offer.

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syed786 wrote:
How to upgrade 811 acc to everyday savings account.. And how to apply for rpdc? Online or Offline? 

Contact Kotak bank and first ask for Everyday RuPay Platinum debit card.

If Kotak bank reject to issue the card then request for upgrade your account to Everyday savings account.

Deal Subedar Deal Subedar
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chotak bank

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demerius2020 wrote:

chotak bank

Kotak bank t&c mentioned - Transact* 30 times a month to get Non Maintenance charges (NMC) waived off

*Customer induced transactions like Cash Deposit/Withdrawal, DD issuance, NEFT/RTGS/IMPS/UPI transactions, 5 ATM transactions (offus+onus), eCOM/Purchase transaction on Debit Card to be considered

@syed786 
@some1anywhere964
Community Angel Community Angel
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abhishek012 wrote:
Kotak bank t&c mentioned - Transact* 30 times a month to get Non Maintenance charges (NMC) waived off

*Customer induced transactions like Cash Deposit/Withdrawal, DD issuance, NEFT/RTGS/IMPS/UPI transactions, 5 ATM transactions (offus+onus), eCOM/Purchase transaction on Debit Card to be considered

@syed786 
@some1anywhere964
Then it's good to visit branch grinning
Deal Subedar Deal Subedar
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Vu. Looks like account specific card given only to everyday savings account holders

Deal Subedar Deal Subedar
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This is important --> Debit Card Annual Charges -> Every Day Debit Card -> 1st year free 2nd year Rs. 250

Deal Cadet Deal Cadet
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Today when I went to my Kotak Mahindra Bank branch to ask about this account, they said to get any other card e.g. RuPay and on another account, I will have to hotlist/permanently block/cancel my 811 virtual card because only 1 card can issued per CRN. I seriously doubt if they knew what they were talking about. Can anyone also find out if this is true from their Kotak branch?

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some1anywhere964 wrote:

Today when I went to my Kotak Mahindra Bank branch to ask about this account, they said to get any other card e.g. RuPay and on another account, I will have to hotlist/permanently block/cancel my 811 virtual card because only 1 card can issued per CRN. I seriously doubt if they knew what they were talking about. Can anyone also find out if this is true from their Kotak branch?

When we get any new debit cards, old debit cards will auto blocked except few banks like SBI, BOB etc.
Deal Cadet Deal Cadet
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abhishek012 wrote:
When we get any new debit cards, old debit cards will auto blocked except few banks like SBI, BOB etc.
I hope my Kotak Spendz prepaid card isn't blocked as it shows up as a "Savings account with a card" under the same CRN. The branch people did say Spendz won't be blocked. I had both 811 and Spendz cards simultaneously so RuPay and Spendz should also be posssible.
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some1anywhere964 wrote:
I hope my Kotak Spendz prepaid card isn't blocked as it shows up as a "Savings account with a card" under the same CRN. The branch people did say Spendz won't be blocked. I had both 811 and Spendz cards simultaneously so RuPay and Spendz should also be posssible.
Prepaid card is different from debit card.
Deal Cadet Deal Cadet
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abhishek012 wrote:
Prepaid card is different from debit card.

Yes I know but I hope Kotak's employees, backend team and system software are smart enough to know that. smile The other day they totally denied me turning on auto sweep facility for my 811 account saying that it was not available, and then called to apologize and turned it on. So a thought crossed my mind, maybe they don't know exactly the rules for debit card issuance too. smile

Generally most banks issue only one debit card per bank account but surely two different accounts can have two different debit cards? No according to Kotak. There is only one debit card possible per CRN/customer ID!

I don't know if other banks also have this policy of one debit card per customer! I always thought it was one debit card per account.

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some1anywhere964 wrote:

Yes I know but I hope Kotak's employees, backend team and system software are smart enough to know that. smile The other day they totally denied me turning on auto sweep facility for my 811 account saying that it was not available, and then called to apologize and turned it on. So a thought crossed my mind, maybe they don't know exactly the rules for debit card issuance too. smile

Generally most banks issue only one debit card per bank account but surely two different accounts can have two different debit cards? No according to Kotak. There is only one debit card possible per CRN/customer ID!

I don't know if other banks also have this policy of one debit card per customer! I always thought it was one debit card per account.

Today, one person got Kotak bank Everyday RuPay Platinum debit card.

His kotak 811 acc closed because of kyc expired, he visit kotak branch and open kotak bank acc. By default he got RuPay Platinum.

I think his acc is everyday saving acc (he also dnt know).

Note - every month do 30 transactions, no minimum balance required for everyday saving account. Any type of transaction like UPI, debit card, cash withdraw/deposit, IMPS/NEFT etc

https://cdn0.desidime.com/attachments/photos/806809/original/IMG-20220919-WA0004.jpg?1663581190

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abhishek012 wrote:

Today, one person got Kotak bank Everyday RuPay Platinum debit card.

His kotak 811 acc closed because of kyc expired, he visit kotak branch and open kotak bank acc. By default he got RuPay Platinum.

I think his acc is everyday saving acc (he also dnt know).

Note - every month do 30 transactions, no minimum balance required for everyday saving account. Any type of transaction like UPI, debit card, cash withdraw/deposit, IMPS/NEFT etc

https://cdn0.desidime.com/attachments/photos/806809/original/IMG-20220919-WA0004.jpg?1663581190

What's the initial deposit amount for Everyday Saving Account?
Deal Subedar Deal Subedar
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some1anywhere964 wrote:

Yes I know but I hope Kotak's employees, backend team and system software are smart enough to know that. smile The other day they totally denied me turning on auto sweep facility for my 811 account saying that it was not available, and then called to apologize and turned it on. So a thought crossed my mind, maybe they don't know exactly the rules for debit card issuance too. smile

Generally most banks issue only one debit card per bank account but surely two different accounts can have two different debit cards? No according to Kotak. There is only one debit card possible per CRN/customer ID!

I don't know if other banks also have this policy of one debit card per customer! I always thought it was one debit card per account.

Y did u enable auto sweep? Doesn't it defeat the purpose of 811 being zero bal? 

Not very efficient too.. Kotak autosweep is in 2k multiples,limits r also high,  sweep out 20k and sweep in 10k.. 

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satraghav wrote:
What's the initial deposit amount for Everyday Saving Account?
Dnt know
Deal Cadet Deal Cadet
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IndianDimer wrote:

Y did u enable auto sweep? Doesn't it defeat the purpose of 811 being zero bal? 

Not very efficient too.. Kotak autosweep is in 2k multiples,limits r also high,  sweep out 20k and sweep in 10k.. 

You are saying auto sweep facility is there in other banks still besides Kotak and SBI? and more efficient / with lower limits? Which ones and what are their limits, thresholds? Name of their facilities? From what I found on the web, it was all outdated info. Most banks have disabled auto sweep or kept the threshold limit insanely high.

Deal Subedar Deal Subedar
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some1anywhere964 wrote:

You are saying auto sweep facility is there in other banks still besides Kotak and SBI? and more efficient / with lower limits? Which ones and what are their limits, thresholds? Name of their facilities? From what I found on the web, it was all outdated info. Most banks have disabled auto sweep or kept the threshold limit insanely high.

Ohh.. Didn't knew there r so many revisions sbi was good but it seems they increased it to 25/35k..still some options r there.. 

HDFC 1₹ multiples https://www.hdfcbank.com/personal/save/deposits...

https://www.icicibank.com/Personal-Banking/acco...

BOB

IDFC

Deal Cadet Deal Cadet
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@IndianDimer

There are different kinds of sweep facilities as I understand:
Manual Sweep-out from savings account to create an FD, only sweep in from the FD is automatic (ICICI offers this as Money Multiplier)
Sweep in to savings account against already made Fixed Deposit, but no automatic sweep out from savings account (HDFC Sweep in and SBI e-TDR/STDR Multi Option Deposit Scheme)
- Auto sweep i.e. sweep out and in only on Savings account leaving the FDs alone (SBI SavingsPlusKotak ActivMoney, HDFC Money Maximizer)

BOB's interest rates are low. IDFC too unless balance is high and most banks thresholds even higher than Kotak the last time I researched but I could be wrong here. Please let me know if you find some accurate and detailed info on this little known feature.

Deal Cadet Deal Cadet
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Private banks are not much different from public sector banks.

Kotak took 15 days to open Everyday Savings Account and they issued Visa Platinum to me on Everyday Savings Account, and blocked my Visa Classic on 811 account which is altogether different account from Everyday Savings Account. They were just interested in getting me to open either a demat account with Kotak Securities or invest in some mutual fund NFOs. Terrible bank service. I've had far better service in some public sector banks. Not all but some of them very good experiences.

Pro Blogger Pro Blogger
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some1anywhere964 wrote:

Private banks are not much different from public sector banks.

Kotak took 15 days to open Everyday Savings Account and they issued Visa Platinum to me on Everyday Savings Account, and blocked my Visa Classic on 811 account which is altogether different account from Everyday Savings Account. They were just interested in getting me to open either a demat account with Kotak Securities or invest in some mutual fund NFOs. Terrible bank service. I've had far better service in some public sector banks. Not all but some of them very good experiences.

Kotak issue Visa card to everyone.

Complaint Kotak bank to get EveryDay RuPay Platinum debit card.

Same problem other guy facing too, He opened Kotak NationBuilders Salary Account, this account also offer RuPay Platinum but he got Visa Platinum, after complaint Kotak bank issue him RuPay Platinum - https://www.desidime.com/discussions/kotak-bank...

Kotak bank employees were telling with full confidence that Kotak does not issue RuPay cards. He will get only visa card but after complaint when he got RuPay Platinum, for a few minutes the entire staff of Kotak Bank was stunned.

Deal Cadet Deal Cadet
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Yes as soon as I saw Visa Platinum in the Kotak app despite requesting RuPay in the account opening form, I went angrily into my Kotak branch and told them I had hotlisted the card already even before it was delivered to me. And to issue me RuPay Platinum at once. Also filed complaint on Twitter. But now it will take another week to arrive which means I lose the RuPay offer discount for Kotak for this month. Even worse, the 811 card had some good offers for shopping from Amazon/Flipkart/Myntra etc and since they blocked it, all my Kotak accounts are without any debit cards for more than 15 days. Also what is this insanely STUPID policy of just one debit card per CRN?

Their own employees still don't know for sure if it's 1 debit card per CRN or one per savings account. If it's one per savings account, I will have to fight with them again to issue me the 811 virtual Visa card for the 811 account once I get the RuPay for the Everyday Savings Account. I already asked them this at the branch and they said no we can't issue Visa virtual free classic card once you get RuPay card but I am sure they were confidently wrong. If it's an entirely different bank account, what's the problem? It's not like I am requesting two debit cards for the same account. I will escalate the issue till highest levels at Kotak and complain about them to RBI till I get the cancelled virtual Visa Classic card back.

On a related note, they were also very confidently telling me that ActivMoney/auto sweep feature is not available for 811 account and then a few days later after I ranted and complained on Twitter, the 811 team stepped in to apologize and immediately turned it on and said neither the branch staff, nor the regular account backend team knew about this, only the 811 team knew all the fine details and that it was always available for full KYC 811 accounts.

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