If you fail to keep your average monthly balance (AMB) over the required level in any given month, you will be charged non-maintenance fees. This is what an AMB non maintenance charges Kotak means.
Kotak Mahindra Bank AMB non maintenance charges vary depending on the type of account, and the Bank notifies you of them frequently as part of the paperwork required to open an account. You will also receive an email and a text message prior to the fee being applied to your account.
Calculate your EMI on a home loan via the NoBroker EMI calculatorWhat is AMB charges in Kotak Bank?
| Particulars | Type of Savings Account | - | - | - | - |
Orange Metro (Savings Bank Orange Metro) & Orange Non-Metro (Savings Bank Orange) |
Orange Senior (Orange Senior SB) |
Zwipe, Zwipe Classic (Non Metro) & Zwipe Senior |
Platina SB (SB Platina) & Platina Senior |
General SB-Metro and Urban Branches (Savings Bank General) |
|
Average Monthly Balance (AMB) |
Orange Metro: 10000 Orange Non-Metro: 5000 |
2500 |
20000 |
100000 |
5000 |
Non Maintenance Charge (NMC) |
Fees for failing to maintain the required minimum monthly average balance |
Monthly 6% of the needed AMB shortage. |
Monthly 6% of the needed AMB shortage. |
Monthly 6% of the needed AMB shortage. (Zwipe, Zwipe Senior, and Platina have a maximum of Rs. 600/-) |
6% of the shortfall in required AMB per month. |
I believe this suffices your understanding of what does AMB non maintenance charges Kotak means.
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What is AMB Charges in HDFC Bank? How to download Kotak Mahindra Bank Statement? How much CIBIL score is required for a home loan?Your Feedback Matters! How was this Answer?
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What is AMB Charges in Kotak Bank?
Sahil
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2023-08-28T20:20:10+00:00 2023-08-30T16:18:55+00:00Comment
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