Changes have been made in the charges of services (Debit Card Rules) including public sector and private sector Kotak Mahindra Bank Debit Cards. The new rules are scheduled to come into effect on April 1, 2026. The list includes ECS/NACH transaction failure fees, debit card annual and issuance fees and monthly cash transaction fees. Apart from this, third party cash transaction fee has also been introduced. Customers should be aware of this.
Free limit of Rs 25,000 will be available every month on third party cash transactions. For the amount exceeding the free limit, a fee of Rs 5 will have to be paid for every Rs 1,000. The minimum fee for each transaction will be Rs 150. Third party crush transaction means deposit or withdrawal of cash by someone other than the account holder.
New charges have been implemented for customers who do not fall within the relationship value criteria under their program (Privy/Privy Plus/Neon/Platinum/Maxima/Black or Solitaire). Maximum three cash transactions facility will be available every month. A total transaction value of Rs 1 lakh will be allowed every month. Any fees associated with relationship value will be calculated based on the RV definition.
Fees increased for these transactions
In case of ECS/NACH transaction failure, a charge of Rs 500 per instance will be levied on the first transaction. Whereas for the second transaction or subsequent transactions, a fee of Rs 550 per instance will have to be paid. Earlier, if the transaction failed, Rs 500 had to be paid. This rule will be applicable to both savings and salary accounts.
Fees for Debit Card
Debit card issuance and annual fees have been increased. For Everyday Debit Card, now customers will have to pay Rs 300 as issuance fee and annual fee every year. Earlier the fee was Rs 259. There will be no issuance fee and annual fee in the first year for Pay More Shop Debit Card issued with Kotak Sankalp/Sanman Savings Account/Sanman Account (for BSS Microfinance). After this the fee has increased from Rs 199 to Rs 285. Issue/annual fee for Pay Shop More Debit Card increased from Rs 259 to Rs 285.
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