Kotak Mahindra Bank Junior Savings Account

Kotak Junior Savings Account, specially crafted for serving the saving requirements of the little ones, helps instil the habit of saving money at a tender age and allows parents to build up financial fund for the children's future. Children are bound to love the saving experience with the exciting Kotak Junior Savings Account that comes with awesome privileges such as Junior ID Card and offers in edutainment, shopping, and dining categories.

Highlights:

The idea behind this junior savings account is to combine the benefits of a savings account for the children as well as their guardians with those of investments in a SIP or RD. The interest rate is up to 6% per annum on the Junior and Guardian account balance. The account-holders get a personalized Junior Debit Card.

Features of the Kotak Junior Savings Account:

• The Junior Savings Account comes with a Nova Savings account which enjoys a NMC waiver.
• The Guardian Savings Account is specially designed for parents. It gives parents all necessary banking facilities.
• Investments in Systematic Investment Plan or Recurring Deposit for a minimum sum of Rs.2000 per month and a minimum period of 36 months can be made. A recurring deposit helps you save a stipulated sum in a long-term deposit by contributing each month. A SIP or Systematic Investment Plan offers customers the flexibility of selecting the sum and tenure of the investment.
• Customers can also opt for a Standalone Junior Savings Account which is without the guardian account and Recurring Deposit or SIP options.

Special Privileges for the Kotak Junior Savings Account:

Account-holders get several online and offline offers throughout the year while making purchases from partner stores such as National Geographic, Donut Baker, Dominos, Amoeba, Cookie Man, etc.