- Kotak Junior Proposition
- Introductory Offer
- Other Features
- Exclusive Privileges
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Early To Save. Early to Earn.
Kotak Junior Account helps inculcate a saving habit in the child and helps parents build a corpus for their child's future. It is a bundled offering which includes:
| Junior Savings Account - NMC waived Nova Savings Account |
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| + |
| Guardian Savings Account - One of our Savings Account variants designed to give you a worry-free banking experience |
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| Investment in a Recurring Deposit / Systematic Investment Plan with as little as Rs. 2,000^ per month (minimum tenure of 36 months) |
^ Rs. 1000 or above for Semi-Urban & Rural Branches
Recurring Deposit
A Recurring Deposit (RD) allows you to park a pre-defined amount in a long term deposit every month. You can sign up for an RD with a simple standing instruction and save for your child's future.
For e.g., If you were to invest Rs. 10,000/- per month for 10 years at an interest rate of 8.25% p.a., your child would receive Rs. 18.62 lakhs on deposit maturity.*
Systematic Investment Plan
Seasoned financial planners tell you it is never too late to start investing. What they also tell you that it is better to start early. So what better way to invest in your child's future than with a Systematic Investment Plan?
Choose the amount and the duration that you wish to invest and start building that Ivy League education corpus that your child deserves.
Standalone Junior Account
While we recommend the bundled offering which ensures your child learns to save, Junior Account is also available in our regular Savings Account variants as mentioned below, without the separate Guardian Account and investment options (RD or Mutual fund SIP).
Platina | Ace | Pro | Classic | Edge | Nova
Note: *Conditions apply. NMC waiver is available with Nova variant of Junior Account with RD or SIP and Guardian's Savings Account only. Minimum average monthly balance is not required for Kotak Privy League and Wealth programme customers. Classic and standalone Nova savings account (No linked RD/MF SIP and guardian's savings account) is available in Rural & Semi-Urban branches only.
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Source: http://docphy.com/business-industry/banking/junior-savings-account-kids.html
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