Kotak junior account opening online: Banking sector is feeling the competition to attract customers which is forcing them to come up with many attractive offers and plans. Recently you might have noticed about Kotak Mahindra Bank’s “My Junior Account” during the advertisement in Junior Master Chef India program.
This is a new concept or type of savings account offered by Kotak Mahindra Bank where you can open a savings account for their kid and earn some extra benefit over the conventional savings account provided by other banks. By opening a such kind of account you can take a very positive step towards your child’s education for savings and future. Find everything like age limit, review, features, form download details at one place only.
What is Kotak Junior Account
Kotak Junior account is specially designed such a way that you can introduce an habit of savings in your kids life and at the same time enjoy many offers and rewards in dining, edutainment and shopping on kids brands like Dominos, Baskin Robbins, Kool Skool, Gini & Jony and more.
Here we will highlight the benefits and good points about this Kotak Junior savings account and also explain how you can save more by opening a Kotak Junior Account.
Top 5 benefits of kotak junior account
1) In this account you can deposit in long term RD (recurring deposit) or SIP (systematic investment plan) from a minimum amount of Rs 1000 to maximum of Rs 10,000.
2) For a regular investor you can avail 4 Movie Tickets (PVR) or Book Vouchers (Landmark) monthly for investing amount between 5,000 < 10,000 and 8 Movie Tickets (PVR) or Book Vouchers (Landmark) for Monthly Investment Plan of RD / SIP of 10,000 and above.
3) Enjoy a high interest rate on savings compare to other banks. Currently, the bank offers 5.5 percent on an account balance of up to Rs 1 lakh and 6 percent on balances above Rs 1 lakh for savings accounts.
4) As this will be considered as your child’s income, you can enjoy income tax benefit of Rs 1,500 per child under section 10 (32) of the Indian Income Tax laws.
5) There is a minimum balance cap of Rs 5000 monthly which can be waived off if you are investing regularly in RD and SIP.
You can also enjoy many exclusive privileges across dining, edutainment & shopping. Simply visit the link here to find out such offer list.
How to open a Kotak Junior Account Online
Kotak Mahindra Bank has already come up with very simplified ways to open a bank account online earlier. You can simply follow one of the below step and open your child’s first savings account with Kotak.
1) Visit the link and fill the form in the right side. After successful filling you will receive a call from Kotak team who will help you proceed further.
2) You can also SMS Junior to 5676788 / 9971056767 and their representative will call you for further details.
3) Or lastly you can visit any nearest Kotak Mahindra Branch with your kid and approach for a savings account.
This account looks very attractive and you can gift your child a Kotak Junior Account. With this you can help your kid to understand or to take his/her first step towards savings/investment at a very early age. This is not a promotional post, you can always do a better research by visiting the branch and reading the official documents of this product and get your query clarified.