Kotak launches savings account that can be managed via social media

Product targets youth, online shoppers; offers several features such as mobile and DTH recharge via Twitter

Kotak Mahindra Bank has launched a savings bank account-Jifi Saver- that can be managed via social networking websites such as Twitter & Facebook.

Apart from targeting the youth that are active on the social networking sites, it also aimed at online shoppers. The savings bank account also offers several features such as mobile and DTH recharge via Twitter.

Customers can open a Jifi Saver account online, using their Facebook or Twitter credentials. This account enables customers to earn savings interest rate of 6 percent per annum on balance of above Rs 1 lakh and 5 per cent per annum on balance up to Rs 1 lakh.

Kotak Mahindra and associates are significant shareholders in Business Standard Limited