KOTAK MAHINDRA BANK-SILK

Kotak Mahindra Banks Silk programme is dedicated to the woman of substance. Silk is a toast to many
things which empower women and make them feel special in every way.

FEATURES

Exclusive
Privileges

Financial
Privileges

Features

Rewards
on silk

WorryFree
Banking

Worry-Free Banking Features

Up to 6% Interest p.a. on your Savings Account
ActivMoney, BillPay, netc@rd, Wealth Statement, Home Banking & Other powerful,
Transactional features
Rewards on Kotak Silk Debit Card Spends
I.
Exciting Cashback across various categories
OR
II.
Option of free monthly Movie Tickets instead of Cashback
Financial Privileges

NMC waived Kid's Account

Discount on Lockers and Best Compliments Card
Higher Withdrawal Limits on your Kotak Silk Debit Card
Purchase Protection and Lost Card Liability on your Kotak Silk Debit Card

 Exclusive discounts and offers across

Dining

CConsumerDurables

Shopping

Beauty

Entertainment

travel

travel

kids

jewellery

Worry free Banking: Features

Get rewards on Kotak Silk Debit Card Spends - Cash back or Free Movie Tickets
Financial Privileges - NMC waived Kid's Account, Discount on Lockers and Best Compliments
Card
Hassle-free bill payments: BillPay facility: Use our BillPay facility for automatic payments of your
bills through your bank account
Safer online transactions: Generate a virtual card for online transactions with Kotak Gold
netc@rd facility
Wealth Statement: This facility gives you updates of your Savings Account, Current Account,
Term Deposits, Demat Account and Mutual Funds, all in a single account statement
Travel cashless: Use Kotak Mahindra Bank's Silk Debit Card and get special offers, privileges,
lifestyle benefits and much more
Home Banking Service: Enjoy services like cash pick-up, cash delivery, cheque / draft delivery,
etc. without stepping out of your home. This service is available in select cities

Rewards on silk debit card spends

60 Free movie tickets: You can opt for the option of free monthly Movie Tickets at the time of
account opening to watch all your favorite movies1
Rs. 4500/- Cashback: With your exclusive Silk Photo Debit Card, enjoy attractive Cashback each
time you shop2, up to Rs.4500/-3 in a year.
Cashback across all spends, inclusive of the following categories:

Grocery

Jewellery

Fuel

Apparel

Health and
Beautiful

Reward Details on debit card spends (effective 1st August 2014)

Edge/Nova
Pro/Classic
Cash back
Rs 1200/annum or Rs
Rs 1800 per annum or
100/month
Rs 150 / month
Or
Movie Ticket (monday 12 tickets @ 1/month
24 tickets @ 2 / month
to saturday)

Criteria to avail rewards on debit card spends

Edge/Nova
Min spend / month
Rs. 2500/month
subject to maintenance
of AMB previous
month

Pro/Classic
Rs. 5000/month

Entertainment

Ace
Rs 4500 per annum or
Rs 375 per month
60 tickets @ 5 /month

Ace
Rs. 15,000/- per month

FINANCIAL PRIVILEGES NMC waived Kid's Account

The non-maintenance charge on the child's account has been waived off for Silk customers
Discount on Lockers
As a Silk customer, enjoy a special 35% discount^* on Locker rentals for the first year

 Discount on Best Compliments Card

As a Silk customer, get a 50% discount* on the issuance fee on this card
Higher Debit Card Withdrawal Limits
With our Kotak Silk Debit Card, spend without worry, anywhere, anytime. Enjoy the advantage
of higher withdrawal limits with no annual fees on Ace Accounts
Sr
No
1

Additional features of Kotak Silk Debit Card

Swipe Limit at Merchant Outlet
(Point of Sale Limit
ATM Withdrawal Limit
Cash Withdrawal at Merchant
Outlet (Cash @ POS)
Lost Card Liability
Purchase Protection
Debit Card Type

2
3
4
5
6

Rs. 1,00,000
Rs. 75,000
Rs. 1,000
Rs. 1,00,000
Rs. 50,000
Classic

Travel cashless: Use Kotak Mahindra Bank's Silk Debit Card and get special offers, privileges, lifestyle
benefits and much more
Home Banking Service: Enjoy services like cash pick-up, cash delivery, cheque / draft delivery, etc.
without stepping out of your home. This service is available in select cities

Exclusive Privileges
Choice of offers across categories including restaurants, travel, shopping , electronics , health &
wellness, entertainment etc as well as special EMI offers.

Myntra .com flat 30 % off

Visa get a free gift etc
Amazon Emi 3,6,9,12 months offer
Health kart additional 10 % off

COMPETITIVE PLAYERS IN INDUSTRY

I.

HDFC

FEATURES
1. Free cash withdrawal and balance enquiry at all HDFC Bank ATMs and non-HDFC Bank domestic ATMs
2. EasyShop Woman's Advantage Debit Card with a host of benefits like:
Re.1 Cashback for every Rs 200/- spent
Personal Accident Death Cover of Rs 2 lacs
Transaction limit of Rs. 25,000 per day for cash withdrawal and shopping limit of Rs. 1.25 lacs
per day.
0.5% CashBack on all shopping at merchant outlets and online
Save up on fuel spends on select BPCL fuel stations across India with Fuel Surcharge Reversal
3. Free Insurance cover of up to Rs. 2 lakhs
SPECIAL PRIVILEGES
1. Insurance Cover*
Accidental Death Cover of Rs. 10 lacs
Accidental Hospitalization Cover of Rs. 1 lac
Claim daily cash allowance of Rs. 1,000 per day for a maximum of 10 days per year, for each day
of hospitalization due to an accident.
For the claim to be accepted & processed, the first holder of the Women's Savings Account should have
made at least 1 Point of Sale (POS) purchase at a merchant establishment using the Debit Card in the
previous 6 months before the date of event.
2. Preferential pricing on new HSL Trading Accounts - A/c opening charges for 1 A/c @ Rs.999/- & 2 A/cs
from Family* @ Rs.1399/-(50% discount on 2nd A/c), each A/c will get benefited for

Free Transaction Turnover of Rs. 10 Lacs valid for 3 months from Account Opening**
Access to the Latest Research Reports and Ideas from our Research Desk
Call N trade facility in Multiple Languages
24 Hrs. Live Chat Facility - real time online assistance on Product Offerings, Trading/Investments
& Resolution of Queries
Free access to Advanced Website Tools and Widgets Advanced Portfolio Tracker, Watch- list,
Desktop Widgets, Stock Screeners etc.
Free Access to Predefined and Customized Stock Alerts

3. Special offers on Loans:

Avail 50% discount on processing fees on your Auto Loans
Two wheeler loan - Savings of Rs 2,375 and 50% Discount on Processing Fees
4. Special shopping benefits: Solitaire- premium Credit Card for women
Solitaire Lifestyle Reward Points:
3 Reward Points for every Rs. 150 spent and redeem them against exciting gifts/ vouchers from
our Rewards Catalogue.
Get 50% more Reward Points on Dining & Grocery spends.*
* 50% More Reward Points are offered to the Cardholders only on those transactions which are
classified under the Restaurant/Grocery Merchant Category Code (MCC) as defined by
VISA/MasterCard. Restaurants within Hotels, Shopping Malls and Departmental Stores will not qualify
for 50% More Reward Points as they are not classified under Restaurant Merchant Category Code
(MCC). Grocery transactions at outlets not classified under the Grocery MCC will not qualify for 50%
more Reward Points.
Solitaire Shopping Benefits:
Spending has never been more fun! Earn shopping vouchers from Shoppers Stop worth Rs. 1,000 on
cumulative spends of Rs. 75,000 every 6 months, limited to 2 per annum**.
CashBack
Redeem Reward Points as CashBack against outstanding amount on your Credit Card (100 Reward
Points = Rs. 40)
Solitaire Travel Benefits:
For avid shopper who travels a lot, Solitaire Credit Card is the right choice . With our India Miles feature,
customers can enjoy redemption of Reward Points against air miles / air vouchers of leading domestic
airlines.
Fuel Surcharge Waiver:
Fuel Surcharge Waiver capped at Rs. 250 every billing cycle (ST applicable).
Safe & Secure Transactions:
Zero Liability on lost card:
If you lose your Credit Card, report it immediately to our 24-hour call centre. After reporting the loss,
you carry zero liability on any fraudulent transactions on your card.
Revolving Credit Facility:
Enjoy Revolving Credit on Credit Card at nominal interest rate, refer Fee and Charges section.

Interest-free credit facility:

Avail up to 50 days of interest free period from the date of purchase (subject to the submission of the
charge by the Merchant).
Enjoy shopping! Get 2 Shoppers Stop vouchers every year worth Rs. 1,000/- each
(Assuming the overall spend every 6 months is above Rs. 75,000/-)
Earn a CashBack of more than Rs. 4,000 on RP accumulated by spending Rs. 5 lakh on your card.
Earn 2,880 Reward Points or more in a year on dining and grocery shopping itself
(Assuming the average monthly spend on dining and grocery at Rs. 3,000/- and Rs. 5,000 /respectively)
Save Rs. 1,500/- in a year on your fuel transactions.
(Assuming your average fuel purchase every month is Rs. 5,000/-)
Zero Lost Card liability post reporting card loss to bank.

II.

ICICI Bank

ADVANTAGE- Womens Savings Account

ICICI Bank Advantage Woman Account is savings account for the woman of today who is looking for
independence and an identity of her own, a savings account which will help her save for the future as
well enjoy the present.
This savings account brings core banking services with many exciting benefits and features attached,
especially for our women customer
Privilege
1. A Special Women's Debit card
A Debit card which helps you shop and save simultaneously, manages your household expenditures and
comes with a bag full of offers. Unlimited cash withdrawals at any banks ATM, free of charge
2. Zero Balance facility with a RD of just 2,000*
Features

A special Womans Debit card

Unlimited cash withdrawal transactions at any Banks ATM, free of charge
Money Multiplier Facility
Anywhere Banking
Free multi-city cheque book
Free Internet Banking and Mobile Banking
Free Email Statement facility
Standing instructions facility

Minimum balance: Rs.10,000.

Non-maintenance of MAB in any month will attract a charge

III.

UTI Bank

SMART PRIVILEGE ACCOUNT

UTI Bank offers a Smart Privilege account, which is open to all women over 18 years of age. Women who
open such an account automatically get an insurance cover for women-related critical illnesses.
Under the policy, working women get Rs 25,000 if they lose their jobs within three months of the date of
diagnosis of the illness. It also includes a children's education bonus of Rs 25,000.
Credit/ debit card
The UTI Bank Smart Privilege account comes with a specially designed international debit card, through
which account-holders can avail of discounts on products from LG, Lakme Beauty Salon, Pierre Cardin,
Domino's, etc. Card also offers a personal accident insurance cover up to Rs 2,00,000.
Children's account
Another feature of the Smart Privilege account is that you can open a children's account with zero
balance. You can leave standing instructions with the bank to transfer a fixed amount from your account
to your child's account. The zero balance children's account allows minors below the age of 12 to get an
ATM card, while those above 12 get a debit card. This may be a good way of inculcating the banking
habit in your children.

IV.

CITI BANK

CITIBANK WOMENS ACCOUNT

Citibank Women's account provides critical illness insurance cover for Rs 50,000 (for those women who
are less than 55 years old).
Credit/ debit card
The Citibank Women's Account comes with a photo debit card that enables you to avail of discounts at
department stores, restaurants, jewellery showrooms, etc.
Besides, you also can avail of other debit card options like IndianOil Citibank, Citibank Grocery,
Shoppers' Stop and Family ATM/ Debit Card and get additional benefits on it like reward points for
shopping and special discounts.

V.

SBI

No specific initiative in terms of a special account for women. It however launched a Home loan scheme
for women.
HER GHAR- Home Loan For Women
Reduced interest rates: @ 10.10 % (EMI RS 885/ lac for a period of 30 years) subject to the
following two conditions
1. The woman should be the sole applicant or first co-applicant of Home Loan
2. The property proposed to be financed should be either in the sole name of the woman
borrower or she should be the first owner in case of joint ownership

VI.

IDBI BANK

SUPERSHAKTI WOMENS ACCOUNT

IDBI Bank is introducing a special savings account for women, which we have coined as SuperShakti
women account. Along with this, we are also offering a zero balance savings account absolutely free for
her child below the age of eighteen years.
Account Features and Advantages

Zero Balance savings account

Simple Documents
Faster transfer of funds
Online options to pay your bills or tax
AQB- Rs. 5,000/- (for Tier- A Branch) & Rs. 2,500/- (Tier- B Branch) (average quarterly balance)
No charges for non maintenance of AQB
Two zero balance account for your child below the age of 18 years
Auto Sweep out / sweep in facility above Rs. 15,000
Specially designed Womens International ATM cum Debit card.
Higher ATM cash withdrawal Limits- Rs. 40,000/- per day
Personalized PAP Cheque Book
25% discount* on Locker services
50% discount on Demat AMC
Free Statement by e-mail
Free amount transfer from Net Banking
Free ten transaction at other Bank ATM

VII.

South Indian Bank

South Indian Bank offers two types of saving account for the women; Mahila Savings Bank Account and
the Mahila Plus Savings Bank Account.
Features
Indian women aged 18 or above can have these accounts. These accounts offer free insurance coverage
to the account holder for the first year. The insurance covers travel and accidental deaths.
It also provides free alimony service from other accounts as well.
Mahila Savings Bank can be opened with a minimum balance of 1,000 and Mahila Plus Savings
accounts with a minimum balance of 25,000.

REFERENCES
http://www.kotak.com/personal-banking/savings-accounts/silk-woman-savingsaccount.html#exclusive_privileges
http://www.icicibank.com/Personal-Banking/account-deposit/advantage-woman-savingsaccount/index.page
http://www.icicibank.com/Personal-Banking/faq/detail.page?identifier=prod-advantagewoman-savings-account-20131112111139053
http://articles.economictimes.indiatimes.com/2007-03-12/news/28390158_1_semi-urbanareas-novel-scheme-credit
http://www.rediff.com/getahead/2006/mar/08bank.htm
http://www.hdfcbank.com/personal/products/accounts-and-deposits/savingsaccounts/womens-savings-account
http://www.icicibank.com/Personal-Banking/cards/debit-card/debit-cards/woman-debitcard/index.page?#toptitle
https://www.kotak.com/kotaknri/SilkAccount/index.html?pdt=406&Tab=SilkAccountApplyNow
&Product=SilksavingsAccount&ptr=net
http://www.kotak.com/kotakoffers/