Changes In Kotak Mahindra Bank’s Account Policies – What Customers Should Know

Kotak Mahindra Bank has made some changes in some of the General Schedule of Features & Charges (GSFC) to ensure seamless banking experience for its customers, with effect from February 1, 2025. The revised changes will be exclusively applicable on 811 Savings Account customers under scheme 811 EDGE, 811 Limited KYC and 811 Full KYC account variants only.

Here's a list of revised changes in detail

Cash transaction charges at branch/Cash deposit machine - The tariff charges for first transaction or any transaction up to Rs 10,000 remains free of charge as earlier. However, the transactions beyond these limits will be charged at Rs 5 for every Rs 1,000 with a minimum chargeable fee of Rs 50. Earlier, post the limited transactions, Rs 4.5 was charged for every Rs 1,000 transaction.

ATM decline - As per the revised tariff, Rs 25 will be charged at Non-Kotak ATM for every declined transactions due to insufficient funds, compared to Rs 25 per instance on both Kotak and Non-Kotak ATM.

Standing Instruction fee - The private sector bank has reduced the penalty for the standing instruction failure fees to Rs 100 from Rs 200.

Balance, current year and interest statement request - The bank services regarding providing balance, current year and interest statement will be free of charge for the customers.

PIN re-generation charges - All PIN reset requests for a mobile or debit card will be free of charge compared to a fee of Rs 100 for resetting a PIN through net banking, whereas Rs 50 was charged for the same through a debit card or mobile.

Other free services - Banking services such as KYC pick-up, delivery, cash or instrument pick-up services will be available for free from February 1. Earlier, a fee of Rs 150 was charged on these services after exceeding their free limit.

Revised ATM Withdrawal Limits

Card Type & First 6 Digits Of Debit Card	Free ATM Transaction Limits	Charges Beyond The Free Limits
Dream Different Debit Card (459453)	Kotak ATM - 5 transactions Non-Kotak ATM - 3(Metro) and 5(non-metro) transactions Applies to both financial and non-financial transactions
811 Super Debit Card (428091)	Kotak ATM - 10 transactions Non-Kotak ATM - 3(Metro) and 5(non-metro) transactions Applies to both financial and non-financial transactions	Financial transaction - Rs 21/txn Non-financial transaction - Rs 8.5/txn
811 PVR Debit Card (483086)	Kotak ATM - 20 financial transactions Non-Kotak ATM - 20 transactions Applies to both financial and non- financial transactions Total Txn - 20 transactions	International financial transaction - Rs 150/txn International non-financial transaction - Rs 25/txn
All other card types	Kotak ATM - 10 transactions Non-Kotak ATM - 3(Metro) and 5(non-metro) transactions Applies to both financial and non-financial transactions

These changes reflect Kotak Mahindra Bank's commitment towards customers, streamlining banking services as well as ensuring transparency in fee structure.