Kotak Mahindra Bank Junior Account Opening Procedure

Name of the Organization : Kotak Mahindra Bank Ltd (kotak.com)
Type of Facility : Register For Junior Account (Savings Account For Kids)
Location : Mumbai

Website : https://www.kotak.com/en.html

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My Junior Account – The Savings Account for Kids :
Kotak Junior Account has been designed to encourage the child (and the parents) to save smartly from an early age. Kotak Junior not only offers you up to 6%* interest p.a. on the account but also a 10 year Recurring Deposit and linked Systematic Investment Plans intended to provide long term savings for your child. It also comes with a first of its kind Junior ID card for children and an exciting rewards programme which brings a host of benefits like book vouchers, movie tickets and discount vouchers.

Key features of My Junior Account :
** Up to 6%* interest p.a. on Savings Account balance
** Investment avenues like Recurring Deposit and Systematic Investment Plans
** Investment based NMC waiver^
** Personalized Debit Cards#
** Discounts on partner brands

How to get a Junior account :
** Fill this form and our representative will get in touch with you
** SMS Junior to 5676788 / 9971056767
** Visit the nearest Kotak Mahindra Bank branch

Note :
* Only applicable to resident Savings Accounts.
#Debit Cards will be issued on the request of the guardian to children above the age of 10 years and it will have a withdrawal limit of Rs.5,000 only.
^This is as long as the Recurring Deposit or Systematic Investment Plan (SIP) is active, else Average Monthly Balance (AMB) of Rs.5,000/- is to be maintained and standard charges will be debited on non-maintenance of AMB. The waiver will not be applicable in case of failure in execution of the SI set towards RD/ SIP, due to insufficient funds in the Junior Account.

Want to register for Kotak Junior Account :
To open a Kotak Junior Account leave your details and we will get in touch with you

Register Here : https://www.kotak.com/en/home.html

The Junior Proposition is a bundled offering that includes :
Junior Savings Account – an NMC waived Nova Account
Guardian Account – You can choose from a host of our Savings Account variants designed to give you a worry-free banking experience
Invest in Recurring Deposit / Systematic Investment Plan as little as Rs.2000^ per month (minimum tenure of 36 months)
^ Rs.1000 or above for Semi-Urban & Rural Branches

Special Introductory offer just for your Junior :
Our exciting introductory offer for the first year of account opening, gives you the option to choose from either Movie Tickets (PVR) or Book Vouchers (Landmark), by simply investing regularly in RD or SIP.

Monthly Investment Plan -No.of. Movie Tickets or Book Vouchers :
RD / SIP of 5,000 < 10,000 – 4
OR
RD / SIP of 10,000 and above – 8

Please note :
6% rate of interest not available on NRE and NRO accounts

NMC – Non Maintenance Charges :
Kotak Junior introductory offer is available under two plans, namely Movie Ticket vouchers & Book vouchers both to be used for online purchase. The Movie Tickets or Book Vouchers will be sent as per the discretion of the bank within the 1st year from the date of account opening for new accounts opened & from the date of conversion for existing account holders upon uninterrupted execution of monthly RD/SIP installment. RD(s) and SIP(s) setup /registered within 15 and 45 days respectively from the date of opening of/conversion into Junior Account will be considered to determine the applicability of the Plan under the introductory offer. The Book Voucher allows you to make a purchase up to Rs. 250. Movie ticket voucher(s) is/are subject to availability of tie up with theatres in customer’s location & is subject to change. Please contact the branch to know the availability of this option in your branch / city

For More Details : https://www.kotak.com/kotaknri/Junio…Productpagetop