Free Cheque Collections Outstation cheques, drawn on any of the branch locations, would be collected ‘free of charge’ for the account holder. Only a nominal charge is levied for non-branch location. Free Home Banking For free cash/demand draft delivery, dial phone-banking service and enjoy time saving banking experience from the comfort of home or office. The customer can also use the facility for free cash/cheque pickup. Free At par Cheques Kotak Mahindra Bank’s At-par cheques are treated as ‘local clearing’ cheques across select locations in the country. The At-par cheque facility comes to the customer free of charge. The customer can now save DD making charges while enjoying the convenience of a cheque. Free Electronic Fund Transfer Transfer funds to third party accounts in other banks, without drawing a Demand Draft or a cheque, by using Electronic Transfer facility. With this facility, the accountholder can save on Demand Draft making/couriering charges and also transfer funds faster. Overdraft against Term Deposit As a Kotak Ace Current accountholder, you can avail an overdraft against Term Deposit held with KMBL. This facility helps effectively tackle short-term cash flow problems and since the Term Deposits remains intact, the accountholder continue to earn interest on the investment.
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