How to open bank account in Kotak Mahindra Bank

How to open bank account in Kotak Mahindra Bank

How to open bank account in Kotak Mahindra Bank

Hey guys, to know how to open saving account in Kotak Mahindra Bank firstly we discuss about Kotak Mahindra Bank. It is an Indian private sector bank. The headquartered in Mumbai, Maharashtra, India. The Reserve Bank of India Issued license to Kotak Mahindra Bank Ltd in February 2003. It is a group's flagship company, to carry on banking business.

The company is offering many facilities to its customer. The facility like product, financial service for corporate and retail customers through a variety of delivery channels and specialized subsidiaries in the areas of personal financial, investment banking, general insurance, life insurance, and wealth management. As of April 2019, it becomes the second largest Indian private sector bank by market capitalization.

Let's know about Eligibility criteria to open a saving Account in Kotak Mahindra Bank.

To become eligible to open a saving account in Kotak Mahindra bank. criteria are given below.

1. The individual person who are applying for this saving account should be a citizen of India.
2. The applicant should be 18 year and above to be eligible, except in cases of minor saving account.
3. The applicant will be required to submit a valid KYC documents proving his/her identity and address along with the account opening form.
4. At the time of opening an account applicant have to make a initial deposit - depending on the minimum balance requirement of the particular.

Steps to open Bank account in Kotak Mahindra Bank are as follow.

1. As soon the account opener applies to open a saving account, he/she will be required to submit some documents that are:
  • Proofs of identity: passport, Driving license, Voter's Id card, etc.
  • Proof of address: passport, Driving license, Voter's Id card, etc.
  • Pan Card
  • If applicant doesn't have PAN Card than they have to submit "form 16".
  • 2 latest passport size photos.

2. The application will have to fill account opening form; all field will be required to filled to avoid rejection of form. if applicant want to fill online form than they have to visit Kotak website and fill online form.
3. If the applicant's form filled completely and all the documents are ready than they have to visit bank and submit the application form along with documents. If they filling online form than they have to fill documents no. and upload scanned copy of the document’s instruction will be provided in the website.
4. At the bank executor will verify your documents and ensure your name, date of birth, address l, and so-on in the KYC documents. if you are filling form online documents will verify digitally.
5. ones the verification process completed than the account holder have to pay initial payment whatever required. If you are filling online form than you may or may not be required it depends on the type of account you are opening.
6. Once all the process completed than executive will provide you all bank related documents like passbook, debit card, etc.

If you have done all these processes, congratulation your account is ready to use enjoy all the benefits of the account.

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