Kotak Mahindra Bank revises savings, salary account charges, limits: Know latest cash transaction limits, ATM charges & more

1. Revision in Average Balance criteria
The average balance criteria for Everyday Savings Account and Sankalp Savings Account revised as under:

Account VariantBalance CriteriaExistingRevisedEveryday Savings AccountAverage Monthly Balance (AMB)Rs.20,000*Rs. 15,000 Metro & Urban(All Locations)Rs. 10,000 Semi-Urban & RuralSankalp Savings AccountAverage Quarterly Balance (AQB)Rs. 2,500 (Semi-Urban & Rural)Rs. 5,000 Semi-UrbanRs. 2,500 Rural

*The existing feature of waiver on non-maintenance charges (NMC) by transacting 30 times in a month to be discontinued.

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2. Rationalization of Free Cash Transaction Limits: Cash Transaction Limits are being revised as per the details given below:

Applicable toExistingRevisedEveryday Savings Account! Everyday Salary Account! Pro Savings Account!Nil charges up to 5 transactions orNil charges up to 5 transactions orClassic Savings AccountRs. 3 Lakh! month whichever is earlierRs. 2 Lakh/ month whichever is earlierPrivy Neon Programme! Privy Maxima ProgrammesNil charges up to 10 transactions orNil charges up to 7 transactions orRs. 5 Lakh! month whichever is earlierRs. 5 Lakh/ month whichever is earlierSolo Savings AccountNil charges up to 2 transactions orNil charges up to 1 transaction orRs. 1 Lakh! month whichever is earlierRs. 10,000/ month whichever is earlier

3. Rationalization of Free ATM Transaction Limits: ATM Transaction Limits are being revised as per the details given below:

Applicable toExistingRevisedEveryday Savings AccountKotak ATM: Unlimited freeKotak ATM: 7 Read more on economictimes.indiatimes.com