When managing your finances with Kotak Mahindra Bank, understanding the cash withdrawal limits from branches is crucial to avoid unnecessary delays and fees. Whether you’re looking to withdraw a small or large sum, knowing the withdrawal limits helps you plan your banking transactions effectively.
This article will explore the Kotak Bank cash withdrawal limit from branches, including various account types, fees, and additional details. Let’s get started without further ado!
Table of contents
- What is the Kotak Bank Cash Withdrawal Limit from the Branch?
- Kotak Mahindra Cash Withdrawal Limits for Current Accounts
- How to Withdraw Cash Beyond the Limit at Kotak Bank Branches?
- Fees for Excessive Cash Withdrawals from Kotak Bank Branch
- Things to Remember About Kotak Bank Cash Withdrawal Limits
- How to Manage Your Kotak Bank Cash Withdrawals Limit from Branch?
- FAQS on Kotak Bank Cash Withdrawal Limit from Branch
What is the Kotak Bank Cash Withdrawal Limit from the Branch?
Kotak Mahindra Bank offers several savings accounts, each with specific rules regarding cash withdrawals at branches. Typically, the daily Kotak Bank cash withdrawal limit from the branch for most accounts is around INR 25,000.
However, depending on your account type and the nature of your transaction, this limit can vary. Here’s a detailed look at the Kotak Bank cash withdrawal limits for different Savings Account accounts.
Cash Withdrawal Limit for Kotak 811 Savings Account
The Kotak 811 account is a digital-only savings account, but it still allows you to make a Kotak Bank cash withdrawal limit from the branch. For Kotak 811 account holders, the monthly limit for free cash withdrawals at branches is INR 2 lakh.
Once you surpass this limit, Kotak charges INR 4.5 per INR 1,000, with a minimum fee of INR 150.
Cash Withdrawal Limit for Kotak Mahindra Basic Savings Bank Deposit Account (BSBDA)
For customers with a Basic Savings Bank Deposit Account (BSBDA), the daily Kotak Bank cash withdrawal limit from the branch is typically INR 5 lakh. These accounts have the same fee structure for exceeding withdrawal limits as other account types, which means a charge of INR 3.5 per INR 1,000, with a minimum charge of INR 150.
This makes BSBDA a great choice for individuals who prefer low-fee accounts with higher withdrawal flexibility.
Cash Withdrawal Limits for Other Kotak Mahindra Savings Accounts
For other Kotak Mahindra savings accounts, the daily Kotak Bank cash withdrawal limit from the branch is usually around INR 25,000, although this can be higher depending on the specific account type and your banking relationship with the bank.
For example, premium accounts such as the Privy League or World Savings Accounts might allow larger withdrawals with fewer restrictions. However, for transactions exceeding the standard limits, you may need to pre-notify the bank or provide additional documentation.
Also Read: Kotak Mahindra Bank Personal Loan: Interest, Eligibility, Documents
Kotak Mahindra Cash Withdrawal Limits for Current Accounts
When it comes to current account withdrawal limits per day, Kotak Mahindra Bank offers various options with different cash withdrawal limits based on the account type. Here’s a look at Kotak Mahindra cash withdrawal limits for some common current accounts:
- Neo Current Account: This account, designed for startups and small businesses, allows a cash withdrawal limit of INR 10,000 per day at branches.
- Astra 15 Current Account: This account, suited for larger businesses, offers a higher daily withdrawal limit of up to INR 7.5 lakh at Kotak Bank branches.
- Edge Current Account: For businesses with an Average Quarterly Balance (AQB) requirement of INR 25,000, this account provides cash withdrawals at a rate of INR 2 per INR 1,000 with a minimum fee of INR 50 per transaction.
- Pro Current Account: This account has an AQB requirement of INR 50,000, with the same withdrawal fee structure as the Edge Current Account (INR 2 per INR 1,000, with a minimum charge of INR 50).
- Ace Current Account: Designed for premium clients, this account requires an AQB of INR 2.5 lakh and allows cash withdrawals at the rate of INR 2 per INR 1,000, with a minimum fee of INR 50 per transaction.
How to Withdraw Cash Beyond the Limit at Kotak Bank Branches?
If you need to withdraw more than the prescribed limit (e.g., INR 25,000 in a single day), Kotak Mahindra Bank may require prior notification or advance approval for large withdrawals.
For larger amounts, like INR 50,000 or more, you may need to visit the branch in advance, especially for non-routine transactions.
You can request a permanent or a temporary increase in the Kotak Bank cash withdrawal limits. This can be done by submitting the required documents or by upgrading to a premium account.
Fees for Excessive Cash Withdrawals from Kotak Bank Branch
If you exceed the monthly or daily cash withdrawal limits, Kotak Mahindra Bank applies certain charges. Here’s how much you can be charged for exceeding the Kotak Bank cash withdrawal limits-
- For Basic Savings Bank Deposit Accounts, the fee is INR 3.5 per INR 1,000 for amounts exceeding the free limit.
- For Kotak 811 accounts, the fee is INR 4.5 per INR 1,000 for transactions beyond the free limit.
Also Read: Kotak Mahindra Bank Education Loan: Interest, Eligibility, Documents
Things to Remember About Kotak Bank Cash Withdrawal Limits
When banking with Kotak Mahindra Bank, it’s essential to be aware of the cash withdrawal limits associated with your account. Whether you’re withdrawing from a savings account or a current account, understanding the rules and limits can help you avoid unexpected fees and streamline your financial transactions.
Here are the things to remember about Kotak Bank’s cash withdrawal limits:
- Limit on Cash Withdrawals: The withdrawal limits vary based on the type of account. Always check with the bank for the exact limits associated with your account.
- Pre-approval for Large Withdrawals: If you need to withdraw large amounts, make sure to notify the bank in advance to avoid any inconvenience.
- Transaction Charges: Ensure that you’re aware of the transaction fees if you exceed the free withdrawal limit.
How to Manage Your Kotak Bank Cash Withdrawals Limit from Branch?
Managing your Kotak Bank cash withdrawal limit from the branch effectively is key to making the most out of your Kotak Mahindra Bank account. Whether you’re using a savings or current account, understanding the withdrawal limits and related fees can help you plan your transactions better.
To ensure smooth transactions, follow these tips:
- Know Your Limit: Always keep track of your monthly withdrawal limit. This will help you plan your transactions efficiently.
- Pre-notify the Bank: If you anticipate making a large withdrawal, it’s always a good idea to inform Kotak Mahindra Bank beforehand.
- Use ATMs: If possible, use ATMs for cash withdrawals, as they are more convenient and often come with a higher daily limit for withdrawals (up to INR 50,000 for Kotak ATMs).
Understanding the Kotak Bank cash withdrawal limit from the branch is vital for anyone looking to withdraw cash from their savings account. With different limits based on your account type, knowing the specific rules will help you avoid unnecessary charges and ensure smooth banking transactions.
If you have more questions or need assistance with your specific account, visit your nearest Kotak Mahindra Bank branch or check their official website for the most up-to-date information on cash withdrawal limits.
FAQS on Kotak Bank Cash Withdrawal Limit from Branch
The standard cash withdrawal limit for most savings accounts at Kotak Mahindra Bank is INR 25,000 per day. This can vary depending on the type of account you hold.
Yes, if you exceed the free withdrawal limit, Kotak Mahindra Bank charges a fee. For Basic Savings Bank Deposit (BSBDA) accounts, the fee is INR 3.5 per INR 1,000. For Kotak 811 accounts, the fee is INR 4.5 per INR 1,000.
The Kotak 811 account offers a monthly withdrawal limit of INR 2 lakh at Kotak Bank branches. After this, a fee of INR 4.5 per INR 1,000 is charged.
The daily cash withdrawal limit for Kotak Mahindra Basic Savings Bank Deposit Accounts (BSBDA) is INR 5 lakh. There are charges for exceeding the free withdrawal limit.
Premium savings accounts like Privy League or World Savings Accounts have higher withdrawal limits, which may vary. Contact Kotak Mahindra Bank for the exact limit based on your account.
Yes, you can withdraw more than the daily limit, but you need to notify the bank in advance for large withdrawals (e.g., INR 50,000 or more). Some withdrawals may also require additional documentation.
To manage your cash withdrawal limits, keep track of your monthly limits, pre-notify the bank for large withdrawals, and consider using ATMs for quicker access to funds.
If you exceed the withdrawal limit, Kotak Mahindra Bank charges a fee of INR 3.5 per INR 1,000 for BSBDA accounts and INR 4.5 per INR 1,000 for Kotak 811 accounts.
To avoid fees, ensure you stay within the free cash withdrawal limit for your account type. If you need to make larger withdrawals, inform the bank in advance to avoid incurring additional charges.
Yes, for businesses, Kotak Mahindra Bank offers various current accounts with higher cash withdrawal limits, such as the Astra 15 Current Account, which allows up to INR 7.5 lakh in daily withdrawals.
To learn more about education loans, the best bank accounts for students, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
Follow Us on Social Media
