https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687600
How to upgrade 811 acc to everyday savings account.. And how to apply for rpdc? Online or Offline?
Kotak bank launch EveryDay RuPay Platinum debit card for EveryDay saving accounts
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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
- 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
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
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
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
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 | ||
Expired
Top Comments
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687614
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687627
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687634
chotak bank
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687645
demerius2020 wrote:Kotak bank t&c mentioned - Transact* 30 times a month to get Non Maintenance charges (NMC) waived offchotak bank
*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
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687653
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abhishek012 wrote:Then it's good to visit branch
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
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687691
Vu. Looks like account specific card given only to everyday savings account holders
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8687693
This is important --> Debit Card Annual Charges -> Every Day Debit Card -> 1st year free 2nd year Rs. 250
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8692474
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?
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8692593
some1anywhere wrote:When we get any new debit cards, old debit cards will auto blocked except few banks like SBI, BOB etc.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?
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8692607
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abhishek012 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.
When we get any new debit cards, old debit cards will auto blocked except few banks like SBI, BOB etc.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8692724
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some1anywhere wrote:Prepaid card is different from debit card.
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8693016
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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. 
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.
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8701450
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some1anywhere wrote:Yes I know but I hope Kotak's employees, backend team and system software are smart enough to know that.
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://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8701750
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abhishek012 wrote:What's the initial deposit amount for Everyday Saving 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://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8702990
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some1anywhere wrote:Yes I know but I hope Kotak's employees, backend team and system software are smart enough to know that.
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..
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8703005
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8703044
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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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8703116
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some1anywhere 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
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8703123
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 SavingsPlus, Kotak 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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8735364
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8735383
some1anywhere 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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8735406
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.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8757929
This pathetic bank is yet to issue me RuPay Platinum (OR ANY DEBIT CARD FOR THAT MATTER) after more than 1 month of visiting the branch and filling up the form for Everyday Savings Account. I will wait till I get the card and then complain about them to their Principal Nodal Officer and RBI ombudsman. On Twitter I saw someone else tweeting that after opening Everyday Savings Account, they actually DENIED him to issue RuPay Platinum card. I am beginning to feel as far as service is concern, this is the worst private bank.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8757953
some1anywhere wrote:Yesterday another person got the card -This pathetic bank is yet to issue me RuPay Platinum (OR ANY DEBIT CARD FOR THAT MATTER) after more than 1 month of visiting the branch and filling up the form for Everyday Savings Account. I will wait till I get the card and then complain about them to their Principal Nodal Officer and RBI ombudsman. On Twitter I saw someone else tweeting that after opening Everyday Savings Account, they actually DENIED him to issue RuPay Platinum card. I am beginning to feel as far as service is concern, this is the worst private bank.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8757990
some1anywhere 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.
You lost kotak 811 just for a rupay card? 🤔
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8763956
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drupal wrote:You lost kotak 811 just for a rupay card? 🤔
Just? Kotak 811 DC is "just" a Visa Classic card. It's nice to have since it's free and a virtual card but if you have Visa Platinum, Visa Signature, Visa Infinite or RuPay Platinum, and if it's an either/or choice, I would give up 811 DC definitely. I just want to make sure it's an either/or choice as some people report having multiple Kotak cards on multiple accounts.
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8764389
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some1anywhere wrote:Just? Kotak 811 DC is "just" a Visa Classic card. It's nice to have since it's free and a virtual card but if you have Visa Platinum, Visa Signature, Visa Infinite or RuPay Platinum, and if it's an either/or choice, I would give up 811 DC definitely. I just want to make sure it's an either/or choice as some people report having multiple Kotak cards on multiple accounts.
Actually I had misread the comment, i though his kotak 811 account blocked
https://www.desidime.com/discussions/kotak-bank-launch-everyday-rupay-platinum-debit-card-for-everyday-saving-accounts?page=1#post_8765215
2nd time also the Kotak idiots sent Visa Platinum despite their own website and marketing/sales team advertising RuPay Platinum for the newly launched Everyday Savings Account. 30 days wasted in just sending wrong debit card. I have never received worse service from any bank ever than these fools.
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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.
Finally on 9th Nov, Kotak morons delivered the ESA RuPay Platinum debit card to my location. I had visited branch with KYC docs on 16th Sept (54 days to open a savings account and deliver the right debit card, whole bank is filled with fools only). Never had a worse experience with any private bank than this.
@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 SavingsPlus, Kotak 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.