Free Bank SMS Alerts? Not Anymore: Kotak Mahindra Bank Updates Policy From December — Here's What's Changing

Kotak Mahindra Bank has announced that customers will now be charged for SMS notifications issued by the bank. As per an official notice, Rs 0.15 will be charged per SMS with a free limit of 30 alerts per month. It will be effective from December 2025.

Transactions for which such charges will be applicable include UPI/NEFT/RTGS/IMPS transfers, ATM withdrawals, cash transactions, cheque deposits, debit and credit card usage, etc. It will apply to salary and savings accounts.

The bank noted that some categories of customers will be exempt from these fees. This includes private banking clients, non-resident account holders, and a few other specific groups.

According to the bank, customers who keep a combined balance of at least Rs 10,000 across their savings or salary accounts will not be subject to the charge. The calculation will also factor in the monthly average balance and any term deposits held with the bank.

The bank said, “You will not incur any charges as long as your savings/salary account maintains a combined balance of Rs 10,000 or more (including Monthly Average Balance and Term Deposits)or receives regular salary credits as per your account type. This ensures you continue to enjoy our services at no extra cost.”

The bank provided a list of types of accounts and programme names that will be excluded from the charge:

1. Private banking

2. Floating Rate Linked Savings Scheme

3. Solitaire

4. Kotak Easy Savings Account

5. Privy League Program (Neon, Platinum, Black)

6. Pragathi Deposits

7. Non-Resident Accounts

8. Retail Banking RERA Savings Account

9. Financial Inclusion Savings Accounts

10. FCRA Utility Account

11. Salary Account For Uniformed Services

12. BSBDA For BSS Microfinance

13. Easy Savings Account

14. Institutional Savings Account

15. Kotak Government Business Savings Account

16. Retail Banking Self-Maintaining RERA SB A/C

17. Kotak Retail Institutional Savings Account

18. ESCROW Saving Account

19. Salary Account For Public Services

20. Xpress Limited KYC Saving Account

21. Corporate Salary Tax Refund Account

22. Kotak FCRA Savings Account

23. SPENDZ