AU Small Finance Bank Kids Savings Account vs Kotak Mahindra Bank Savings Account

Interest Rate

Up to 7% p.a
3.50% - 4.00% p.a.

Minimum Balance

NIL
Zero Balance Savings Account

Monthly Average balance

NIL
Nil or Rs. 10,000

Features

* There is no account balance non-maintenance charges

* Get all the banking transactions and other service requests executed from the Video Banking facilities

* Easily set up a recurring fund transfer facility to the kid’s account

* 24x7 Banking: Use AU 0101 App / NetBanking and Phone Banking

* Customize card's limits

* Extended banking hours

* No deposit slip is required for depositing the funds in your child's account 

* Enhanced insurance coverage: Avail multiple insurance benefits such as card liability insurance, purchase protection, and personal accident cover

Free NEFT through Internet Banking

Free Cash Withdrawals at Domestic ATMs

Scan and Pay to make payments for shopping, groceries, and much more



Documents Required

* Account application form filled with your child as the first account holder and you as the joint holder or guardian
* Passport size photographs of both the applicants
* Both applicant's: PAN Card, passport, voter ID, etc.
* Both applicant's: Aadhaar Card, telephone bill, passport, etc.

 

* Driving License, Passport, Voter's ID, Aadhaar Card, PAN Card

* Utility Bill, Bank Statement, Bank Account Passbook (Updated and no more than 3 months old)

* Latest Passport Size Photographs

 To open Kotak 811 Zero Balance Savings Account, please click here


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