Kotak Mahindra Bank offers a wide range of current accounts tailored to different types of customers—whether it is a budding entrepreneur, a mid-sized business, or a large corporation. Kotak Mahindra current accounts are built for speed, flexibility, and convenience. These accounts offer benefits like high daily withdrawal limits, ActivMoney (auto sweep-in to earn interest), corporate debit cards, and easy online application.

What is Kotak Mahindra Bank Current Account?

A Kotak Mahindra Bank current account is tailor-made for businesses, professionals and entrepreneurs who perform frequent banking transactions. Unlike savings accounts, a current account has no limit on withdrawals and deposits. 

Hence, this type of account is best suited for businesses expecting high-volume transactions. It is very user-friendly and includes provisions such as overdraft facilities, corporate internet banking, and cash management services.

How to Open a Kotak Bank Current Account?

Here is a step-by-step process you can follow for Kotak Mahindra Bank current account opening:

• Visit the official website of Kotak Mahindra Bank.
• Choose the ‘Current Account’ option from the ‘Accounts & Deposits’ section.
• Click the ‘I am Interested’ option under the respective account type to select it and open it.
• Fill out the form with your name, mobile number, email address, business entity name, turnover, constitution type and other relevant information.
• Click ‘Apply Now’ to ask the bank officials to contact you and complete the current account opening process.

Kotak Bank Current Account Types

The following are the different types of Kotak Mahindra Bank current accounts you can choose from according to your preference and financial budget:

Kotak Bank Current Account Opening Eligibility

Here is a list of eligible entities for Kotak Mahindra Bank zero balance current account opening online:

• Resident Indian Individual
• Hindu undivided families (HUFs)
• Sole proprietorships
• Partnerships/Limited liability partnerships
• Co-operative societies/subsidiaries and associations/trusts/clubs
• Private limited companies
• Religious organisations/educational institutes/government bodies
• Public sector undertakings
• Association of Persons
• Foreign institutional investors/foreign nationals residing in India/foreign companies
• Foreign banks
• Insurance companies/mutual funds
• Domestic banks/regional rural banks / domestic cooperative banks
• Share and stock brokers
• Non-government organisations
• Related parties

Kotak Bank Current Account Opening Documents

Here is a list of documents you must submit to open a salary account in Kotak Mahindra Bank:

• Memorandum and articles of association
• Board Resolution or the authority letter
• List of directors
• Certificate of Incorporation
• Governing Act / Rules and Regulations for PSUs
• Beneficial Owner details
• Form No. 32
• Company PAN

Kotak Bank Current Account Minimum Balance

The Kotak Mahindra Bank current account minimum balance differs from one account type to another. In this table, we will highlight the minimum quarterly balance of different Kotak Mahindra Bank current accounts:

Kotak Bank Current Account Benefits

The following are the several benefits of opening a current account in Kotak Mahindra Bank:

Free Services

Here are the free services of Kotak Mahindra Bank salary account:

• Cash Deposit: Up to ₹7.5 lakhs/month at home city branches.
• Cheque Pickup: A daily cheque pickup service is available.
• Cash Withdrawal: Unlimited self-withdrawal at ING branches.
• Fund Collection: NEFT and RTGS services for fund collection.
• Transaction Services: RTGS/NEFT/DD/PO up to ₹50 lakhs/month via branch.
• Internet Banking: NEFT and RTGS services are available through Internet banking.
• Cheque Payments: Local and outstation cheque payments are free.
• Cheque Collection: Local and outstation cheque collection at ING branches.

Card and Account Features

Here are the card and account benefits of the Kotak Mahindra Bank current account:

• International Debit Card: Access accounts via a vast network of ATMs.
• ATM Withdrawal Limit: Daily limit of ₹1,00,000 for ATM withdrawals.
• Account Statements: Free monthly account statements are provided.
• Cheque Leaves: 100 free "at-par" cheque leaves per month.
• Banking Access: 24/7 access to phone and net banking services.
• Transaction Alerts: Free instant transaction alerts for account activity.
• Personalised Cheque Book: Enhanced security with personalised chequebooks.

Kotak Bank Current Account Interest Rate

Unlike savings accounts, current accounts generally do not earn interest. However, Kotak Mahindra Bank offers an ActivMoney facility that automatically transfers surplus funds from the current account to a fixed deposit, enabling customers to earn interest on idle funds. It benefits the businesses, individuals and startups who keep sufficient amounts in their Kotak Mahindra Bank current account.

Kotak Bank Current Account Customer Care

Kotak Mahindra Bank offers an efficient customer service team available 24 hours a day to assist and resolve your issues. If you have any queries, you can always contact the nearest branch of Kotak Mahindra Bank. 

In addition, you can contact Kotak Mahindra Bank’s customer care at 1860 266 2666 for queries related to your current account. You can also email Kotak Mahindra Bank at cdservice@kotak.com. 

How to Close Kotak Bank Current Account?

Here is a simple guide you can follow to close your Kotak Mahindra Bank current account:

• Visit your local Kotak Bank branch to close your currency account. 
• Approach one of the customer service representatives and inform them of the current account closure.
• The bank officer will give you an account closure form, which is essential for officially closing your account.
• Please take time to complete the current account closure form. Ensure all the required details, including your account number and personal information, are filled out accurately.
• Collect all related account items, such as chequebooks, debit cards, and other items. You must return these items to the bank since you typically use them to close the accounts fully.
• The bank will close your account after you submit the required documents and follow all the procedures.

Kotak Bank Current Account Charges

The following table illustrates the current account charges of Kotak Mahindra Bank:

Kotak Bank Current Account Statement Password

Your Customer Relationship Number (CRN) is the password to open a PDF of Kotak Bank's current account statement. You can use your CRN to log in to Kotak’s net banking or mobile banking to view or download your statement.

Final Word

Kotak Mahindra Bank offers a variety of current accounts catering to different business needs. It is an excellent choice for businesses and entrepreneurs with multiple benefits, such as unlimited transactions, overdraft facilities, and digital banking solutions. Understanding the minimum balance requirements, fees, and application process can help make an informed decision. Kotak Mahindra Bank current account is worth considering if you are looking for a reliable banking partner for your business transactions.

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