Kotak 811 is for everyone - Open Kotak 811 Saving Bank account now. '811' is a full-service digital banking ecosystem available to you on mobile. The essence of 811 is to bring to you all facilities from zero balance banking to seamless shopping, travelling and entertainment experience under one umbrella of Kotak 811. Key Features & Benefits of Kotak 811 digital savings account are Up to 6%* interest p.a., Zero Balance account, Virtual Debit Card, Instant account opening and more.
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Planning to open a new bank account but don’t have time to visit a bank and complete all the formalities? Well, keep all your worries aside as Kotak Mahindra Bank is here to serve you. Kotak 811, a zero balance savings account rolled out by Kotak Mahindra Bank, lets you open a new bank account within seconds. All you need is the Kotak Mahindra mobile banking app on your smartphone.
Kotak doesn't judge you with your savings, as your happiness is associated with it. Open a Kotak Savings Account and get upto 6% interest on your savings account. pic.twitter.com/xptZqgjgDG— Kotak Mahindra Bank (@KotakBankLtd) November 22, 2018
The world is following the path of digitalization. So, why don’t you? Kotak 811 is a full-service digital banking service which is turning the Indian economy into cashless one. Just install the Kotak Mahindra banking app or visit the official Kotak Mahindra website to open a new account. Register with your authentic documents such as Aadhar card and PAN along with other basic details. After setting up a mobile banking PIN, start using your new account instantly.
"The 811 account is amazingly handy. I can do instant and free of charge fund transfer using IMPS.” Pallav (Equity Research Analyst, Mumbai)— Kotak Mahindra Bank (@KotakBankLtd) March 26, 2018
A big thank you from Kotak Mahindra Bank for sharing your story. We wish you continue having great experiences! pic.twitter.com/TT2UYicI3e
Now open a 811 savings account with Kotak Bank in just 5 minutes. '811' is a full-service digital banking ecosystem available to you on mobile. 811 brings to you all facilities from zero balance banking to seamless shopping, travelling and entertainment experience under a single savings account.
When you open a new Kotak 811 bank account, you get the plenty of facility as per your authentication verification. Here are the details:
When you upgrade your Kotak 811 savings bank account to Kotak 811 Edge you get varied benefits such as free online fund transfers, Platinum Chip Debit card, virtual debit card, and more. However, you have to maintain a minimum balance of Rs. 10000 per month in your Kotak 811 account.
|Variant||811 Limited KYC||811 Lite||811 Full KYC Account||811 EDGE|
|How to Open||Install 811 App/Website||Install 811 App/Website||Install 811 App/Website||Install 811 App /Website/ Visit your nearest branch|
|Verification||OTP based Aadhaar verification||Mobile Number||Biometric based Aadhaar verification||Biometric based Aadhaar verification|
|AMB requirement (Rs.)||Zero||Zero||Zero||10,000/-|
|Physical Debit Card||Rs. 199 p.a.||NA||Rs. 199 p.a.||Platinum Debit card- Rs. 150 p.a|
|Virtual Debit Card||Free||NA||Free||NA|
|Type||Mobile/Website||Mobile/Website||Available on Mobile/Website/ Branches||Available on Mobile & Branches|
|Cumulative credits allowed||Rs. 2,00,000 in a F.Y||Rs. 10,000 in a calendar month & Rs. 1,00,000 in a F.Y||No Restrictions||No Restrictions|
|Online transactions||IMPS & NEFT Free||Outward Funds transfer not available||IMPS, NEFT & RTGS Free||IMPS, NEFT & RTGS Free|
|Cheques||NA||NA||On request||By default|
|Validity from the date of opening||12 months||12 months||NA||NA|
|Interest paid||Up to 6%*||NA||Up to 6%*||Up to 6%*|
Key Features of Kotak 811 Benefits of Kotak 811 savings bank account:
No more you have to visit a bank branch, fill up a form, and wait for the bank’s approval for your new account. Without leaving your home, you can open the Kotak 811 bank account and step into the world of seamless digital banking.
Most of the banks set bars of maintaining a minimum balance in your account but not Kotak Mahindra 811 bank. You get financial freedom with Kotak 811 as you don’t have to pay any charges for low balance in your bank account.
Wouldn’t it be great to have an account that gives you the best interest rate? Kotak 811 lets you earn up to 6% interest per annum on the balance in your account. When you have Rs. 1 Lac balance in your account, the interest rate is 5%. When the savings account balance is between Rs. 1 lac and Rs. 1 crore, you get to earn 6% interest annually. 5.5% interest rate is applicable when the balance amount in the savings account exceeds Rs. 1 crore.
Kotak 811 saves you from the hassle of carrying the Debit Card wherever you go. Moreover, no more you have to get worried about losing your Bank Card as Kotak 811 offers you a Virtual Debit Card. A few taps on your smartphone would let you make online payments, recharge mobile number/DTH, and more.
Having a Virtual Debit Card is a bliss. Besides online payments, you get to make cashless and cardless payments at various outlets. Simply use the scan and pay features to pay for your shopping, movies, groceries, and more.
Do you feel the need of keeping a physical Debit Card? No problem. Just make a request for a physical card at Kotak Mahindra 811 bank via mobile banking app or net-banking. However, you have to pay Rs. 199 plus applicable GST annually to own a physical Kotak 811 Debit Card.
Tired of paying a fixed fund transfer amount? Take advantage of Kotak 811 Edge to transfer funds online either using RTGS, IMPS, or NEFT for free.
Want to request a chequebook or wish to transfer funds to someone else’s account, whatever be your need just tap on Kotak 811 mobile banking app. All tasks would get completed within seconds.
With the Kotak Mobile Banking App on your smartphone, you don’t have to keep multiple apps for entertainment, shopping and movies. Whether you want to buy PVR movie tickets, book flights or hotels, shop on Shopclues or Flipkart, go to the mStore section and use your Kotak 811 account to get the best rates.
Given are the 811 Edge Fees & Charges applicable to your Kotak Mahindra 811 savings bank account:
|Classic Debit Card (Annual Charges)||Rs. 299|
|Replacement of lost Debit Card||Rs. 299|
|Cash Transaction charges||First cash deposit of up to Rs. 10,000 per month is free. Thereafter, a charge of Rs. 3.50 is applicable.|
|Kotak Bank ATM transaction charges||First 5 financial transactions are free. Thereafter, Rs. 20 are applicable per transaction First 5 non-financial transactions are free. Thereafter, Rs. 8.50 are applicable per transaction.|
|Other Bank ATM transaction charges||First 5 financial transactions are free. Thereafter, Rs. 20 are applicable per transaction First 5 non-financial transactions are free. Thereafter, Rs. 8.50 are applicable per transaction.|
|Statement and SMS alerts||Daily SMS charges - Rs. 30 per quarter Weekly SMS charges - Rs. 15 per quarter|
Note: Kotak 811 is available for those who are not an existing member of Kotak Mahindra Bank. Same Eligibility Criteria is applicable if you want to upgrade your Kotak 811 bank account to Kotak 811 Edge. Kotak 811 savings bank account documentation
Furthermore, to enjoy the full benefits of the 811 Full KYC account, Biometric based Aadhaar verification is mandatory.
The advantage of opening Kotak 811 account online is you can start using your account instantly. Note: Kotak 811 is a zero balance account while you have to maintain a minimum balance of Rs. 10, 000 per month to upgrade your account to Kotak 811 Edge.
Wouldn’t that be great to have your bank account at your fingertips? Kotak 811 gives you the exact same freedom to access your bank account at any time from anywhere. Along with this, you can take advantage of various offers:
Every Wednesday, Kotak 811 offers you an exciting 10% instant discount on your Big Basket purchase. To avail the offer, the minimum purchase should be of Rs. 1,500. Make sure to use the Kotak 811 voucher code “KOTAK10” at the checkout page.
When you have Kotak Mahindra 811 bank card, you get the plenty of shopping delights. Every Sunday, you can earn 10% cashback when you shop at Jabong, either using the mobile app or official website. Don’t forget to use Kotak 811 coupon code “GOKOTAK” to avail the offer.
Planning to watch a movie this upcoming Saturday? Make use of Kotak 811 benefits to book your movie tickets. Buy one movie ticket at PVR, either using the mobile app or official website and get another absolutely free for all Saturday movie shows. Hurry! The validity of the offer is till March 31st, 2019.
On the minimum purchase of Rs. 5,000 at TATA CliQ using Kotak Mahindra 811 bank card, you get an instant discount of 10%, every Tuesday. At the checkout page, apply the Kotak 811 discount code “GOKOTAK” before making your payment.
Want to buy a new smartphone? Wait for Monday. The reason is Kotak 811 is offering 5% instant discount or cash back on every Monday at Reliance Digital stores across India.
Feeling hungry? Use your Kotak 811 Debit card to earn an instant discount of 10% on Swiggy. The minimum order value is Rs. 500 and is applicable only on Thursdays. Make sure to use the Kotak 811 promo code “GOKOTAK”. Hurry! This is a limited period offer.
Plan a vacation and book your flight tickets at Goibibo using the Kotak 811 offer. On booking domestic flight tickets, you get Rs. 1,200 cashback on every Friday. Apply the Kotak 811 voucher code “GOKOTAK” to take the benefits of this offer.
Terms and conditions:
At present, Kotak 811 is available for a single user only. Hence, one cannot open a joint account at Kotak 811.
Kotak 811 keeps the personal information as well as all online banking transactions secure. Also, take measures to prevent any unauthorized access to your sensitive information by maintaining strict security standards.
Kotak 811 Edge is a saving account which gives additional benefits like higher free transaction limits, Platinum Chip Debit Card, free transactions on all Kotak ATMs, and more to the customers. Users can anytime upgrade their Kotak 811 account to 811 Edge, however, it is mandatory to maintain a minimum balance of Rs. 10,000 per month. Additionally, full KYC verification is essential to upgrade the bank account.
Users can utilize the physical debit card to withdraw cash via an ATM. In case, all the verification formalities regarding the user’s identity are complete, he/she can visit a Kotak Mahindra bank branch to withdraw the cash. For verification, a user has to book an appointment with a Kotak Mahindra bank executive via mobile banking app. Alternatively, he/she can visit the nearest Kotak Mahindra Bank branch for the same. Verification (authentication of Aadhaar details) is done using a biometric device.
Kotak 811 offers you a Virtual Debit Card inside your Kotak Mahindra mobile banking app. Users can utilize this card to make bill payments, recharge mobile number/DTH, shop online or use the “Scan & Pay” option at different merchant outlets. Note: Kotak 811 Virtual Debit Card is given to only those customers who have verified their identity details via Aadhar OTP. In case, you want to know the card details like card number, CVV and expiry date, simply sign in to your mobile banking app and select the 811 widgets.
To apply for a physical Debit card, select the 811 widgets in the Kotak Mahindra mobile banking app. You will be charged Rs. 199 plus taxes per annum for the card. Also, to request for the card, you must have sufficient balance in your account. Within 7 to 10 business days, your requested physical Debit Card will be delivered at your communication address.
To deposit money to your Kotak 811 bank account, use net banking or debit card of another bank. This option will become available just after the activation of your account in the Kotak Mahindra mobile banking app. Additionally, you can transfer money via IMPS/NEFT/UPI from another account at any time. Alternatively, you can visit the nearest branch of Kotak Mahindra Bank to deposit cash.
Kotak 811 is a zero interest account and you won’t get any chequebook or net banking facility. To initiate any transaction, you can use your Virtual Prepaid Card or Kotak Mahindra mobile banking app. To deposit money to your Kotak 811 Lite account, you can only use payment gateway transactions or NEFT/IMPS from other banks.