Shocking news for Kotak Mahindra Bank customers, Increased SMS alert charges
Kotak Mahindra Bank customers will have to pay an extra 15 paise per SMS after a certain limit. However, this charge will only apply to customers who do not maintain a minimum balance in their accounts. The bank states that this step has been taken to cover operational costs and to continue providing timely transaction updates to customers.
According to the bank, the first 30 transaction alert SMSes per month will now be free. If more than 30 alerts are sent from a customer’s account, a charge of ₹0.15 will be levied for each additional SMS. These alerts are sent for UPI transactions, ATM withdrawals, cash deposits, cheque deposits, or card spending, etc.
Which customers will not be charged? If customers maintain an average monthly balance of ₹10,000 or more in their savings or salary accounts, they will not be charged any SMS charges. This limit has been set at ₹5,000 for Kotak 811 account holders. Similarly, accounts with regular salary payments or term deposits will also be exempt from this charge.
The bank has already revised the annual fees for some debit cards, effective November 1, 2025. The annual fee for the Privy League Black Metal Debit Card has been reduced from ₹5,000 to ₹1,500. The fee for the Privy League LED Debit Card has also been reduced from ₹2,500 to ₹1,500.
