Kotak Mahindra Bank unveils 'Grand' - Savings Bank Account for 55+

Grand offers priority service and first aid card which provides essential customer information and emergency contacts details. It also offers queue privileges at the branch.

Dec 08, 2014 03:12 IST India Infoline News Service

Kotak Mahindra Bank (KMB) announced the launch of Grand, a unique savings bank account tailored exclusively for customers 55 years and above. Grand has been designed keeping in mind their need for hassle-free banking, financial independence and personal attention.
 
Grand offers priority service and first aid card which provides essential customer information and emergency contacts details. It also offers queue privileges at the branch. Further, customers will get a health card from Indian Health Organisation (IHO), offering up to 50 per cent discount on treatments, consultation and procedures. Customers also can avail special lifestyle offers from brands including Lenskart, Zicom, Makemytrip and eBay.
 
Features
  • Tailored savings bank account for customers who are 55+
  • Cash back on POS transactions every month
  • Healthcare, lifestyle and convenience benefits
  • Special queue privileges for transactions at branches
  • Health card from Indian Health Organisation (IHO) - Up to 50% discount on
  • treatments, consultation and procedures
  • Customised cash delivery as per customer’s convenience at his/her home on a pre- selected date
  • SMS for a call back
  • Preferential rate on Mutual Funds – 1.25% through Investment Account
  • Up to 35 per cent discount on safe deposit locker facility for the first year
  • Waiver on Demat Account AMC for the first year
 
Shanti Ekambaram, President – Consumer Banking, Kotak Mahindra Bank, said, “We believe in serving our customers better by understanding their preferences, and delivering products and services that meet needs of all segments. Grand is a distinctive offering for customers 55 years and above whose needs and behavioural patterns are different from other customer segments. It will ensure a comfortable and convenient experience for this segment, ensuring that their every smallest banking need is satisfied.”
 
Grand customers can opt for customised cash delivery at the time of account opening and choose a preferred date to have cash delivered at their home. This customised cash delivery feature does away with any effort on the part of the customer to reach out to the bank every now and then. Instead, the customer contact centre gets in touch with the customer on the pre-selected date to confirm and execute cash delivery.
 
Further, customers can place a request for a call back by simply sending a SMS, which will be responded to within 30 minutes. They can also transact using net banking and mobile banking. Grand also enables customers to make bill payments by registering online or at Kotak Mahindra branches.
 
Customers will earn 6 per cent p.a. on savings balance of over Rs. 1 lakh and 5 per cent on balances up to Rs. 1 lakh. To earn higher return on their balances, they can sign up for the Kotak ActivMoney facility, which converts savings account balance above a certain amount into Term Deposits. Grand has also been packed with additional features including up to 35 per cent discount on locker facility and 100 per cent waiver on annual maintenance charge (AMC) for the first year on a Demat Account. Additionally, customers will get 100 per cent issuance charge waiver on best complimentary cards and 25 per cent issuance charge waiver on a travel card.

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