Kotak 811 is a zero-balance savings account offered to customers by Kotak Mahindra Bank to open a savings account without a minimum balance limit. If you want to open a zero-balance savings account in a good bank, then read this guide carefully. Here, we are going to share with you the complete information about Kotak 811 and the steps to open a Kotak 811 zero balance account.
Nowadays, students, and housewives, look to open a zero balance account in the largest Indian bank. There are lots of Indian banks that enable you to open a bank account without a minimum balance required. Among all of them, at present Kotak811 is the only zero-balance savings account that can be opened without visiting the bank.Â
Opening the zero balance savings account in Kotak Mahindra Bank will be very easy if you read this guide and follow the steps carefully. After opening a zero-balance account, you can also apply for a Credit Card online. Let’s take a look at the Kotak 811 savings account.
Highlights of Kotak 811
Bank Name | Kotak Mahindra Bank |
Service Name | Kotak Bank Zero Balance Savings Account |
Procedure | Online |
Benefits | No need to maintain minimum balance |
Official website | Click here |
What is a Kotak 811 account?
Kotak Mahindra Bank is the first bank in India that introduce zero-balance digital savings accounts. Kotak account helps you to save money with lots of benefits. There are two kinds of Kotak 811 savings accounts that fulfil the banking requirements of the customers.
You can open a Kotak Mahindra zero balance account anytime, anywhere, and without visiting the bank. Your account will get activated with the help of video KYC, so you don’t need to fill out any kind of form. Any person can open this account with just a few clicks and can avail of amazing offers.
Read more: Kotak Mahindra Bank CRN Number | How to Get Kotak Bank CRN Number
What are the features of a Kotak811 account?
By opening a zero-balance savings account in Kotak Mahindra Bank, you can enjoy these amazing features.
- You don’t need to maintain a minimum balance in a savings account
- It provides 4% interest per annum on the balance of the savings account
- Kotak Account offers you a virtual Debit Card with no extra charges
- It allows you to transfer money via IMPS, NEFT, and UPI with no charges
- You can manage your Kotak 811 account 24/7 with the help of the official website.
Types of Kotak 811 Zero Balance Savings Account?
There are two types of Kotak Bank digital accounts:Â
- Kotak 811 Digital Savings Account: This is a savings account that provides banking services online for free. It can be activated by a digital verification process with the help of video KYC. After verification, you can use this account with just a few clicks and manage your banking transactions online.
- Kotak 811 Edge Savings Account: It is the upgraded version of the Kotak Bank savings account. In this, you need to maintain Rs. 10,000 every month and then you can do free funds transfer by using IMPS, NEFT, and RTGS. With this account, you also get a Platinum Debit Card with amazing offers.
What are the Documents Required to open a Kotak 811 account?
If you want to open a Kotak digital savings account, then you will need these documents:
- Aadhar Card
- PAN Card
Eligibility for Kotak 811 account opening Online
You have to fulfil some eligibility criteria for a Kotak account opening.
- The age of the applicant should be 18 years old
- The applicant for opening a Kotak 811 account must be a Citizen of India
What are the Advantages of Kotak 811 Savings Account?
These are the benefits that you will get with Kotak 811 savings account:
- The Kotak 811 savings account in less than 20 minutes
- No minimum balance is required to keep the account activated
- It provides amazing deals on popular e-commerce platforms such as Flipkart, Amazon, etc.
- The bank provides virtual debit cards to make online purchases
Fees and Charges for Kotak 811 account
Banking Services | Kotak 811 Full KYC account | Kotak 811 Lite | Kotak 811 Limited KYC |
Fund transfer via IMPS, NEFT, RTGS through net banking | Nil charges | Fund transfer not available | Nil charges |
Monthly minimum balance | Zero | Zero | Zero |
Fund transfer via NEFT, RTGS through bank branch | Not available | Not available | For NEFT: Upto 10000: 2, from 10001 to 100000: 4, 100001 to 200000: 14, more than 200000: 24, For RTGS: from 200000 to 500000: 20, more than 500000: 40 |
Cash transactions through branch or ATM machine | Zero charges for 1 transaction or 10,000 per month. After that, Rs. 4.50 per Rs. 1000 | Zero charges for 1 transaction or 10,000 per month. After that, Rs. 4.50 per Rs. 1000 | Zero charges for 1 transaction or 10,000 per month. After these limits, Rs. 4.50 per Rs. 1000 |
Debit Card Annual fee or replacement | No charges | Virtual Card with zero charges | No charges |
Debit Card financial transactions through Kotak Bank’s ATM | 5 free transactions every month. After the limit, Rs. 21 per transaction | Not available | 5 free transactions every month. After that, Rs. 21 per transaction |
Cardless Cash Withdrawal | Zero charges for 1 transaction per month. After that, Rs. 10 for every transaction | Not available | Zero charges for 1 transaction per month. After that, Rs. 10 for every transaction |
Physical Debit Card Replacement or Annual Fees | Rs. 299 | Not available | Rs. 299 |
Financial and non-financial transactions from other ATM | 5 free transactions. After this limit, Rs. 21 per transaction | Not available | 5 transactions are free. After that, Rs. 21 per transaction |
Transaction declined charges | Rs. 25 | Not available | Rs. 25 |
Financial and non-financial transactions at International ATM | Rs. 150 for financial transactions and Rs. 25 for non-financial transactions | Not available | Rs. 150 for financial transactions and Rs. 25 for non-financial transactions |
Demand Draft | Rs. 4 for Rs. 1000For senior citizens: Rs. 3 for Rs. 1000 | Not available | Not available |
DD or cheque collection | 500 | Not available | Not available |
Cheque issued and Returned fees | 50 per instance | Not available | Not available |
ECS Mandate Verification | 50 per instance | Not available | Not available |
Cheque was deposited and returned | Rs. 200 | Not available | Not available |
Bank Statement | Rs. 100 per physical statement | Rs. 100 per physical statement | Rs. 100 per physical statement |
Balance and Transaction alerts | 50 paise per SMS | 50 paise per SMS | 50 paise per SMS |
Pin generation or Re-generation | Rs. 100 per request | Rs. 100 per request | Rs. 100 per request |
Read more: How to Obtain Kotak Mahindra Bank Statement Online?
Kotak 811 Interest Rates 2023
811 Account Balance | Interest Rates |
Upto Rs. 50 lakh | 3.50% p.a. |
more than Rs. 50 lakh | 4.00% p.a. |
Features of Kotak 811 Account Variants
Kotak 811 Account Type | Features |
Kotak 811 Limited KYC | Zero Balance Savings Account Valid for 12 months |
Kotak 811 Lite | The minimum balance required is Rs. 10000 Free cheque book |
Kotak 811 Full KYC Account | No minimum balance Required Provides cheque book |
Kotak 811 Edge | Minimum balance required is Rs. 10000 Free cheque book |
How to Open Kotak 811 Zero Balance Account?
In this section, we are going to share the complete process for Kotak 811 account opening. You can Open a Kotak Mahindra zero balance account with just a few clicks.
You just need to follow the process that we are going to mention below.
- First, go to the official website of Kotak 811.
- Go to the homepage of the Kotak 811 website.
- Now, select the ‘Open zero balance account’ option.
- After clicking, an application process will open on your screen.
- Next, enter your mobile number, email id, and pin code.
- After that select the ‘Open Now’ option.
- After clicking, wait for the loading of the next page.
- On the next page, enter your PAN Card and Aadhar Card details then tick the terms and conditions box and select the Proceed to Verify button.Â
- When you click, a window will open where you have to confirm your name on the PAN Card.
- If the name is correct, then click on the Next button.
- Now, enter your Gender and Date of Birth, and then click Proceed.
- In the next step, enter the OTP received on your mobile number from Kotak Bank.
- On the next page, enter the required details.
- After that, create your MPIN and complete the KYC.
How does Kotak811 log in?
After the Kotak 811 account opening, login is very necessary to access the banking services. The benefit of this account is that you can open it online without visiting any bank and get all services on your hands. You can do a Kotak account login from an app on your mobile phone.Â
These are the steps to log into a Kotak Mahindra zero balance account.
- Open your Smartphone and go to the Play Store or App Store.
- Download ‘The Kotak Bank app on your device.
- After downloading, wait for some time to install the app.
- After that, open the app.
- Now, enter the required details like CRN number, date of birth, and MPin which you have created before.
- If you enter all the details correctly, then you can access the Kotak bank account.
Read more: Top 10 Indian Banks in Banking Services
Kotak 811 Credit Card
When you open a Kotak811 account, you can also apply for a Kotak account Credit card. As we know, nowadays, credit cards are very necessary to make big purchases for payment later or with EMIs. So, Kotak811 helps you with this by providing zero-fee credit cards.Â
These are some features of the Kotak 811 credit card:
- Zero Joining fee
- Zero Annual fee
- Contactless payment
- Accessible without PIN
- Safe and secured transactions
- Accept all payments
- Acceptable on Mobile banking
How to Apply for a Kotak 811 Credit Card?
If you want to get a Kotak Credit Card, then I am going to share with you the application process for it.
- Go to Kotak811’s official website.
- Click on the ‘Card’ option.
- After that, select ‘Apply Now’.
- On the next page, you will learn all the features of the Kotak 811 credit card.
- Now click on the ‘Get your Card now’ option.
- After that, enter your mobile number tick right the two boxes, and then select Get OTP.
- Now enter the OTP received from Kotak Bank and click the Verify button.
- On the next page, enter the required details and click Next.
- Now, fill in all the other required details until the credit card application process is completed.
- When all the processes are done, then you will receive your Credit Card after some time.
Kotak 811 Customer Care Number
There may be a chance that some people have difficulties while opening a Kotak account and applying for a Kotak 811 credit card. So, we are sharing with you the helpline number of Kotak Bank by which you can get your queries solved.
Kotak Bank customer care number:Â
1860 266 0811
1800 266 6666
1860 266 2666
The Banking Guides Official Social Media
Click here | |
Click here | |
Click here | |
Click here | |
Quora | Click here |
Official website | Click here |
Conclusion
Now you know about the Kotak811 account. This account is best for those who want to open a zero-balance savings account without visiting the bank branch. Any person can easily open a Kotak account from any device like a mobile phone, PC, or laptop.
After opening, the account can be easily accessed through the Kotak811 app or net banking. You can get all banking services like fund transfers, mini statement checks, debit cards, and credit cards at your fingertips with this account. If you get any issues, then you can contact Kotak 811 customer care for your queries.
I hope you enjoyed this post and got valuable information about Kotak 811. Share this article with your friends and family and help us in promoting this website.
People Also Ask
What is a Kotak 811 account?
It is a savings account offered by Kotak Bank that can be opened with zero balance.
Can I open a Kotak811 account safely?
Yes, the process of Kotak account opening is very safe. The debit card of this account is very safe to use and can be replaced easily after losing.
What are the features of a Kotak 811 account?
With a Kotak account, you can use a Virtual debit card inside the Kotak app. This card can be used to pay bills, do online shopping, and do mobile or dish recharge.
How much minimum balance should be in the Kotak 811 account?
As we mentioned earlier, this account can be opened with a zero minimum balance. So, there is no minimum balance limit for this account.
Can I link my Kotak account to Google Pay?
Yes, you can add it to Google Pay same as other banks to do banking transactions.
How to withdraw money from a Kotak811 account?
First, you have to complete the KYC process, and then you can easily withdraw money from your Kotak account.
How many fees do I need to pay for a Kotak 811 debit card?
The annual charge for Kotak’s debit card is Rs. 299.
What are the best banks for zero-balance savings accounts in 2023?
- IDFC First Bank Pratham Savings Account
- Equitas Selfe Savings Account
- Axis Bank Prime Savings Account
- Indus Delite Savings Account
- Kotak 811 account
Who can apply for a Kotak 811 account?
Any Indian citizen having an age of more than 18 years old can apply for a Kotak account.
What is the amount limit for UPI in Kotak?
With a Kotak account, you can transfer 1 lakh per day by using UPI with a maximum of 10 transactions.
Note: Friends, we bring here the information about the scheme of the Central and State governments for you. So, you can save this website thebankingguides.com in your bookmarks. By clicking the link above, you can connect to our all social media platforms.
If you like this article then share it with your friends and family.
Thanks for reading this article till the end.