Kotak Mahindra bank has introduced new Jifi current account, a social one, first of its kind for banking in India, and to open it, you need to have a Facebook account. Currently, Jifi is available in select cities such as Mumbai, Delhi, Chennai, Kolkata, Bengaluru, Hyderabad, Pune, Coimbatore, Jaipur and Lucknow on invitation basis via email or through Facebook, you can find the option on its home page.

‘Jifi is a new age digital account which lets you avail of benefits like a Platinum Chip Debit card, access to social banking, loyalty and reward programs and much more.’

Kotak Mahindra Bank Jifi

Kotak Jifi Account features and details

Benefits

  • No minimum balance is needed to be held on a monthly basis, though you need to  pay an initial amount of Rs. 5000 for verification and activation and process, you can later use that money for online transactions or for other banking uses.
  • Platinum Chip Debit card with premium benefits.
  • Loyalty program and reward points: Gain reward points for transacting online,  referring friends (earn 250 transaction points for each successful referral) and by staying active on Facebook and Twitter, for e.g for like or comment on Facebook, you’ll earn points.

Social banking using Twitter

  • Twitter account is required for social banking: Updates of your banking account will be delivered through Twitter to your personalized Twitter account handle via DMs, so there is no opportunity for others to see them.
  • After activating Jifi account, you’ve to connect to your Twitter account through Jifi dashboard, once authentication is successful you can request @kotakjifi on twitter with a hashtag (you can see all the hashtags here) for account balance, transaction history, check book request, Net Banking Pin request and many more, they’ll be sent by @kotaksync to you through direct messages.

For more details, visit Kotakjifi website.