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Major updates for kotak811 accounts
Under 811 Edge, 811 Limited KYC and 811 Full KYC variants, customers of Kotak811 will see new fees on several banking services.
Revised charge
Demand draft/banker check: There is no change till 15 transactions per month.
RTGS (Branch): ₹ 20 per transaction for ₹ 2-5 lakh, ₹ 40 per transaction ₹ 5 lakh and more per transaction.
NEFT: ₹ 4 per transaction for an amount of up to ₹ 2 lakh.
Check Book: First 50 leaves free for some accounts.
ATM withdrawal: free for 3 transactions in top cities, 5 in non-gathering cities.
Cash withdrawal (non-house branch): Free up to ₹ 25,000 per day.
Cash Deposit and Return: Free for selected account types and up to 4 lakhs per month.
Below Kotak811 is the breakdown of changes for account holders:
| Service | Old charge | New charge |
| Demand draft / banker’s check | ₹ 1/1000 (minute ₹ 50, maximum) 5000) | Equal transactions/month |
| RTGS (branch) | ₹ 2-5 Lakh: ₹ 20/TXN | ₹ 5 Lakh: ₹ 40/TXN |
| NEFT | ₹ 2 (up to ₹ 10k) | ₹ 4 (up to ₹ 2l) |
| Cheque Book | Free for the first 25 leaves | For some accounts first for 50 leaves free |
| ATM withdrawal | Free for 3 transactions (top city) | Free for 5 transactions (non-cords) |
| Cash withdrawal | Free for ₹ 10k/Day | Free for ₹ 25k/Day |
| Cash deposit and withdrawal | Free PM 2L PM | Free for some variants to ₹ 4 L PM |
,Source: Kotak Mahindra Bank website)
ATM transaction boundaries change
The bank has revised free ATM transactions for Kotak Mahindra Bank Debit Card. The number of free transactions per month will be different on the card type and city basis.
Update for retail current accounts
Retail current account holders will also see amendments:
Cash pick-up and delivery: High fee for large transactions volumes.
Check Services: Additional check pick-up or fee launched for delivery beyond the monthly limit.
Customers are advised to review the updated general schedule facilities and fees (GSFC) on the Kotak Mahindra Bank website for details.
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