Kotak Savings Account without Annual Debit Card Charges

[ObliviousAlive]

Dear Techno Fino Geeks,

After spending some time on research, I am finally thinking of opening Kotak bank Savings account.

My main reason of opening account is to park emergency fund of 5 to 7 lakhs which I really intend to use on rare instance.

Hence would link to active money facility.

Pls let me know which savings account of Kotak has no annual charges and no debit card fees associated with it.

Don’t want to take 811 account as it restricts transfer out of funds and seems chargeable. I dont wnt to be constrained by lower transfer limits for taking funds out online.

Privy league starts at 2 lakh minimum balance which means 2L would be lying in savings useless and only excess will go to active money though debit card will be free.

Even Ace account seems to have 299 debit card annual charges.

Not keen on paying debit card charges as usage of this account is only for rare purpose of emergency fund.

Pls let me know which savings account of Kotak has no annual charges and no debit card fees associated with it with less savings account minimum balance requirement.

 

[KGSIPO]

There is no restriction on tranfer for kotak 811 account and it suits you well. By keeping higher amounts in FD, you can have zero balance in Privy platinum account and no debit card charges

 

[Hemang]

Bhai go for Kotak solo savings account. It is zero balance but with debit card charges for classic visa variant. Recently i closed this account.

 

[ObliviousAlive]

There is no restriction on tranfer for kotak 811 account and it suits you well. By keeping higher amounts in FD, you can have zero balance in Privy platinum account and no debit card charges

By keeping higher amounts in FD, you can have zero balance in Privy platinum account and no debit card charges

But privy platinum account requires minimum 5 or 10 lakhs in savings. Only amount above threshold is transferred to ActiveMoney - FD.
So that defeats purpose i believe.
If i misundersttod pls clarify

 

[cardy]

Kotak solo savings account

I think this variant is discontinued

 

[Hemang]

I think this variant is discontinued

Yes they don't preferably open it. But since it is given in GSFC, you can try atleast.

 

[KGSIPO]

By keeping higher amounts in FD, you can have zero balance in Privy platinum account and no debit card charges

But privy platinum account requires minimum 5 or 10 lakhs in savings. Only amount above threshold is transferred to ActiveMoney - FD.
So that defeats purpose i believe.
If i misundersttod pls clarify

For privy league platinum account, you have to maintain minimum 10 lakhs in savings or 30 lakhs FD