Kotak Mahindra Bank has revised the fees for various services offered to its savings account customers. These rates are applicable to Edge/Pro/Ace/Platina/Nova/Classic from the old ING Vysya Bank sourced after March 31, 2015. The bank has also increased charges for non-maintenance of average balance with effect from June 1, 2022.
Fund Transfers
The charges for NEFT/RTGS applicable only if done in branch NEFT are as follows:
RTGS
Rs 20 – 2,00,000 to 5,00,000
Rs. 5 – 10,001 to 1,00,000
Rs 15 – 1,00,001 to 5,00,00
NEFT
Rs. 2 – Upto 10,000
Rs. 4 – 10,001 to 1,00,000
Rs. 14 – 1,00,001 to 2,00,000
Rs. 24 – >2,00,000
IMPS
Rs – up tp 10,000
Rs. 5 10,001 to 1,00,000
Rs. 15 1,00,001 to 5,00,000 – Rs.15
Non-maintenance charges
Non-maintenance of average balance will be charged 6 percent of the shortfall, with a maximum cap of Rs 500/600 as per Product Variant.
Cash Transactions
No charges will be imposed for up to four transactions or $2000 each month, whichever comes first. Once this limit is crossed, customers will be charged Rs. 4.5 per Rs. 1000
