Kotak Mahindra Bank Silk Savings Account

Kotak Silk Savings Account, specially designed for modern women offers the finest of lifestyle and dining along with the best of finance. It is crafted to help you in effective financial management, offers everything that one expects from a premier category savings account.

Highlights:

Kotak Silk Savings Account offers cash backs up to Rs. 4500 annually while the rewards include as many as 60 free movie tickets along with cash backs on debit cards purchases (have a few criteria like minimum monthly expenditure of Rs. 5000, subject to maintenance of account's minimum balance for the month before), when you spend on jewellery, grocery, health, beauty, travel, wellness, shopping, electronics, apparel, entertainment, and fuel. The photo debit card that you get with this account is known as "Classic Silk". Special EMI offers are also available for account-holders.

Services Provided with a Kotak Silk Savings Account:

• The account-holder gets a classic debit card and financial privileges that include locker rental discounts, NMC exemption for Kotak Kids Junior Nova account linked RD or SIP, and 50% discounts on the issuance fees of best compliments card.
• Bills can automatically be paid through the savings account with the help of the Bill Pay Facility.
• Wealth Statement is a feature that provides you with updates on savings account, current account, term deposits, mutual funds, and demat accounts.
• The Home Banking facility enables you to enjoy benefits like delivery of cheques and demand drafts and pick-up of cash.
• The Kotak Gold Net Card feature helps you enjoy safe online transactions with the help of a virtual card.

Financial Privileges:

• A Kotak Silk Savings Account-Holder gets a lucrative discount of 35% on locker rental for the first 12 months.
• An account-holder gets 50% of the issuance fee for the Best Compliments Card waived off.
• The Kotak Silk Debit Card available with the Savings Account lets you enjoy high withdrawal limits with no yearly fee.
• The Savings Account enables you to have a Junior Account named "Nova" through linked RD or SD. The lowest tenure is 36 months and there are NMC waivers in certain cases. Maximum caps on RD monthly instalments are Rs 50,000 and Rs. 1 lakh for tenure up to 12 months.

Few More Features of the Kotak Silk Debit Card:

The swipe limit at merchant outlets happens to be Rs 1.5 lakh while the limit for ATM withdrawal is Rs. 75,000. The card offers purchase protection of Rs. 50,000 and the liability for a lost card is of Rs. 1.5 lakh. The limit of cash withdrawal at merchant outlets (Cash @ POS) is of Rs. 1000.