Kotak Mahindra Bank has launched a new savings account product aimed at the tech-savvy crowd. The new product known as Jifi Saver can be managed via a customer's Twitter and Facebook pages. Customers can sign up for a Jifi Saver account on the website using their Facebook or Twitter credentials. Kotak Mahindra Bank had earlier in March created a similar bank account, called Jifi, which was a zero interest current account with no minimum balance restrictions. Jifi Saver offers customers an interest rate of 6% on a balance of above Rs1 lakh and 5% interest per annum on a balance of up to Rs 1 lakh. The savings account is also targeted at customers who use online shopping and offers customers extra transaction points from select e-commerce players. You can check out the bank's e-commerce partners and their offers here. Hashtag banking Another interesting feature of the account that the bank calls Hashtag banking where users can send commands out to their bank account using hash tags on Twitter. The bank account is bound to the the customer's Twitter handle and the customer does not have to enter their bank account number or card details. For example, to get the account's balance details, customers have to send #Jifibal to the @kotakjifi handle. Customers will receive the requested details from as a DM (direct message) on your personalized Twitter handle (and not the public domain). The responses are sent from @kotaksync handle which is automated and has no manual intervention. Here's a list of…
