Kotak My Family Savings Account – Privileges, Eligibility and How to Open?

Are you a new customer to Kotak Mahindra Bank? Have you heard My Family Savings Account and worried about how to open and what features it offers for its customers? You landed on the right page. Here is the Kotak bank guide on what is My Family Savings Account and process to open.

Kotak My Family Savings Account is specifically designed for customers and their family members to secure their life besides enjoying valuable benefits. Grab great Kotak banking experience with multiple privileges and benefits it offers.

My Family Savings Account – Top Privileges & Features:

Kotak Bank My Family Savings Account

  • Customer of selected cities can enjoy Kotak services like cash pick-up and delivery, and delivery of cheque/draft from home itself
  • Users of Pro and Ace savings account holders can avail free ATM
  • Kotak offers issuance charge of 25% on the travel card
  • People can get Classic or Platinum Debit Card and high withdrawal limits and attractive offers
  • Kotak customers can book tickets and pay bills with the facility of Net Banking and Mobile Banking app
  • Users can know their savings account balance with just one call with Insta Balance Service
  • Immediate Payment Service (IMPS) allows transferring funds instantly
  • Kotak customers can get 15% discount on Locker rent
  • Kotak bank also launched Hashtag Banking services to help customers to have banking facilities via Twitter
  • ActivMoney allows customers to convert a portion of the amount to a Term Deposit and can earn higher interest on deposits

Eligibility Criteria:

Applicants who want to apply for Kotak Mahindra My Family Savings Account, they need to meet certain eligibility criteria as mentioned below:

  • The candidates should be Indian Resident (Sole or Joint Account)
  • Applicant should be Hindu Undivided Families (HUF)

Read More – How to Register/Activate Kotak Mahindra Net Banking Online

Documents Needed for Kotak My Family Savings Account Opening:

  • Proof of Identity: Candidates should submit either Aadhaar Card/PAN Card/ Voter’s ID/Certified Driving License/Passport copy
  • Proof of Address: Applicants are required to produce Proofs of Passport/Valid Driving License/Voter’s ID/Aadhaar Card/Utility Bills (Electricity/Water bills)/Bank Statement/Latest 3 months updated Bank Account Passbook
  • Proof of Signature: PAN Card/Passport/Driving License
  • Form 16, if PAN not available
  • Recent 2 Passport Size Photographs

The Process to Open My Family Savings Account in Kotak Mahindra Bank:

New applicants of Kotak Mahindra Bank can follow these simple steps to build My Family Savings Account.

Step# 1: Open Kotak My Family Savings Account for yourself

Step #2: Select among two options

  • Edge (available for up to 3 members of the family): Average monthly income balance should be Rs. 50,000 for the family
  • Pro (available for up to 5 family members): Applicants should have an average monthly balance of Rs. 1,00,000 for the family

Step #3: Applicants can also add a program to avail exclusive offers and privileges like Grand for 55+, Junior for kids, and Silk for women.

Step #4: Applicants should have 2 accounts to start My Family Savings Account.

Customers can enjoy huge Kotak banking services instantly and experience banking facilities it offers for long life.