Terms and Conditions

  • Terms & Conditions :

    • Jifi Pro & Jifi Saver are savings account with an Average Monthly Balance (AMB) requirement of Rs.20,000 & Rs.10,000, respectively. Non-maintenance of minimum AMB invites charges as mentioned in Fee and Charges section. Jifi Neo & Jifi CA are digital accounts and no minimum balance is required to be maintained in the account, hence , non- maintenance charges will not be levied in these 2 accounts.
    • Jifi Pro, Jifi Saver and Jifi Neo are savings account and Customers earnup to 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs. 5 crs. Earn 5% p.a. interest on savings account balance up toRs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 5 crs. Jifi CA being a non-interest bearing digital current account, no interest would be given for the balance maintained in the account. For more details, please refer to detailed General Schedule of Fees & Charges (GSFC) for these products.
    • Jifi Pro & Jifi CA have Social & Transaction Loyalty Rewards as one of its feature.
      • The Social Loyalty points are earned by the customer right from the time the customer applies for Jifi account and these points can be accumulated and redeemed against the voucher available from time to time on the website www.kotakjifi.com. The points table is available on website.
      • The Transaction Loyalty points are earned on online shopping and online bill payments. SI, ECS, NEFT, IMPS, RTGS, PoS & ATM transactions are not eligible for transaction rewards. In case any of the transactions which are cancelled later, the rewards given for the same will be reversed.
      • 4 transaction points are equivalent to Rs.1. Bank may revise the conversion rate of transaction points to Rupee from time to time. Transaction Points can be redeemed on www.kotakjifi.com
      • For Jifi Pro customer, for every transaction in multiple of Rs.1000, Bank will award 100 transaction points against every 1000 rupees. 50% additional transaction points will be awarded on using Kotak bank’s m-store for shopping. Maximum transaction points that will be awarded for one transaction are 500 points. For first 6 eligible transactions only, reward points will be given to the customer in a month.
      • For Jifi CA customers, Bank will award 100 transaction points for a transaction of Rs.500 or more with a capping of 6 such transactions in a month.
      • Second way to earn Transaction point is through referral – All referrals have to be made on the website www.kotakjifi.com using the link provided on the website. The referred person has to use the same link to apply for Jifi Pro or Jifi CA for the customer to qualify for the Transaction Points.
      • Each successful referral who opens a Jifi Pro or Jifi CA account would be eligible for 1,000 Transaction points with a maximum such conversion capped at 25 in year and thus the maximum cap for Transaction points thru referral in a year is 25,000 points.
      • In a scenario that a same person is referred by more than 1 person, the rewards will be given to the person whose link the referred person has used to open the account.
    • The Transaction & Social points can be redeemed on the website www.kotakjifi.com – the T&C of the offers made for the voucher are from respective partners and Kotak shall not be held responsible for any deficiencies in the services provided by these partners.
    • In case the customer closes the relationship with the bank, the website www.kotakjifi.com will be accessible to the customer up to 15 days after closing the account, to redeem the points and in case there are any points left after that, it will lapse and they cannot be encashed.
    • The Jifi product offers Hashtag Banking facility, where once they register for Hashtag banking using their Debit card or Net Banking, the customer would be able to use the registered twitter handle to ask for various services about their account. These response messages will be DM (direct message) to the customer’s connected twitter handle from Kotak Twitter Handle. The List of hashtags are given on the website www.kotakjifi.com

    For terms & conditions of other Kotak Products & Services – click here

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