Kotak Mahindra launches social savings bank account

Kotak Mahindra Bank launched Jifi Saver, a social savings bank account which can be seamlessly managed via Twitter and Facebook,in this region.

Developed for today's tech savvy and socially connected consumers with an active digital life, Jifi saver will take care of their needs such as online shopping, on-the-go transactions and financial planning, Deepak Sharma, Executive Vice President, Digital Services, Kotak Mahindra Bank , told reporters.

This will also offer all benefits and functionalities of a regular savings bank account, he said, adding that it enables the customers to earn savings interest rate of six per cent per annum on balance of above Rs 1 lakh and five per cent on balance up to Rs 1 lakh, he said.