Kotak salary account review - Bank with more shopping offers

In this article you can find the offers provided in Kotak Salary account. Read this article to get the feature, interest rate and more offers about Kotak salary account. In this review you can find issues and facilities provided by this bank.

I joined an IT organization on December 2013. On my day of induction joining formalities were done. At the end of the day they asked me to choose a salary bank account out of five. Kotak bank is one among the five. I choose it without any consideration and was happy with my choice. The name of my salary account is Salary 2 Wealth. My account got activated after 3 working days. Let me share the benefits and challenges faced by this bank.

Benefits in Kotak Salary 2 Wealth account

I was told about my benefits by a bank official. He explained me about high interest rate, maximum withdrawal limit per day and unlimited cash withdrawal from any ATM. He told I will get 6% interest per annum for balance over 1 lakh. The default interest rate is 5.5% per annum. It is a zero balance account and so it is not required to maintain minimum balance. I was not much interested in withdrawal limit, the official told I can withdraw upto 2 lakh per day and he claimed that it is higher than any other bank. I liked the unlimited ATM usage privilege because usually bank allows you to withdraw 5 times per month and if you exceed they will charge an additional amount.

Shopping offers

This is the best part which is untold by my bank official. I discovered that there are Kotak coupons which I can use with my net banking or debit card. You can see those coupons at www.kotak.com/kotakoffers/. I personally used Myntra coupon and PVR coupon. Every time I will save Rs.600 for purchase over Rs.1500 in Myntra using Kotak coupon. With PVR coupon I get one ticket for free, so I saved Rs.350 with Kotak PVR coupon. I checked whether other banks are providing these coupons but they're not. Even if they provide there is no wide range of coupons like Kotak.

Banking facilities

I was impressed with my internet banking account. It was so simple and anyone without knowledge about internet banking could understand it faster. The best feature of banking is you get OTP (one time password) in your registered mobile as well as email id. I registered old mobile number with my bank and I was using it no more. As I get OTP in my email I no need to worry about my mobile. There is facility to get all transaction reports. You can check whatever credits and debits done with your account. This bank has IMPS facility and you can transfer money to your family or friends in a day. You will get ATM withdrawal details in your email as well as mobile. Again you no need to worry if you are not using registered mobile number.


For adding beneficiary, OTP will be sent only to your registered mobile. You don't have option to change mobile number directly using through internet banking account. I used Citi bank and there you can change your registered mobile number using internet banking console. This feature will help us to stay connected with the bank. However you can visit the bank to change your registered mobile number and email by writing a letter to the manager.


I never got a chance to check customer service. In my five month usage there was a server outage issue once. During that period I was not able to transfer money. Banking facilities were good and I like the shopping offers the most. I will say if you shop more then go for it.

Read How to Activate Internet Banking in SBI

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Guest Author: Santhosh Pillai24 Nov 2015

Kotak Bank Salary accounts are the best compared to the competitors who have reviews that say very good things about it, but is not. In reality, Kotak Bank is the only bank that does not levy any HIDDEN or EXTRA charges in the salary account, just like it should. I had suggested Kotak Mahindra to my employer and they have been using it for salary account for employees for more than a decade now... Great service!

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