By request capitalization, Kotak Mahindra Bank is the second largest private sector bank in India. The bank launched its zero-contact, videotape KYC Kotak 811 Digital Bank Account a few months ago. Then I’ll tell you everything you need to know about the Kotak 811 Savings Account (Kotak Zero Balance Saving Account).

Savings Account Kotak 811

The Kotak 811 savings account is a digital savings account that you may access from the convenience of your own home. Everyone can open a Kotak zero balance savings account (Resident Indian individualities only).

Depending on your needs, you can select between the Kotak zero balance saving account and the Kotak Edge saving account. With a variety of investment immolations, the Kotak 811 zero balance account allows you save as well as develop your wealth. You can easily transfer funds, pay bills, and perform other tasks.

Kotak 811 Digital Bank Account Features

1. Account creation in a flash

There’s no need to go to a bank or leave your house. Simply open your Kotak 811 Zero Balance Account on your smartphone or through a cybersurfer.

2. There is no requirement for a yearly balance demand.

You can enjoy no minimum yearly balance requirement because there are no costs for non-maintenance of balance.

3. Kotak 811 offers an annual interest rate of up to 4%.

On your account balance, the Kotak 811 interest rate has risen to 4% per annum. As a result, your bank account will become even more plutocratic.

4. Facility Auto Sweep

You can be given a reach-heavy and reach-eschewal limit, and your funds will be converted into an FD in a timely manner.

5. Obtaining banking results with a single click

You can open an investment account or book a TD/RD in a single click using the 811 Mobile banking app. You can also take advantage of a slew of other savings advantages.

6. Disbenefit Card (Virtual)

Within the safety of your app, you can check the virtual card details. Use it to make online purchases, pay bills, and so forth.

7. Ignore and Pay

You may use the Overlook and Pay point to pay for any of your purchases, including photographs, groceries, and much more.

8. Go shopping, travel, and explore the world

You can be protected on Flipkart, communicate your flight and hospices on Goibibo, or railway tickets on IRCTC at fashionable rates with the Kotak Mobile Banking App.

9. Money Transfer for Free

You can convert your money for free online by installing NEFT, IMPS, or RTGS.

10. Physical Disadvantage Card 

You can receive a physical card for Rs. 199 per year if you request it.

Variants of the Kotak 811 Savings Account

Variants of Kotak 811

1. Kotak 811 Limited Know Your Customer (KYC) Account

This account can be opened using a Visage card and an Aadhaar card. This 811 Limited KYC account will pay you up to 4% interest per year.

2. Kotak Lite Account (Kotak 811 Lite)

You can only use your Visage card to open this account. This is a Kotak Bank introductory position digital savings account.

3. Full KYC Account with Kotak 811

You can open this account after completing all KYC requirements and submitting all required documents. In this 811 Full KYC account, you will also receive a Kotak 811 interest rate of over 4 percent per year.

4. Account with Kotak 811

This is a standard bank savings account. And the AMB (Average Minimal Balance) required in this account is Rs. per month.

Interest Rates on Kotak 811 Savings Account

Kotak 811 interest rates will be as follows as of December 11, 2020.

1. A 3.50 percent interest rate on balances up to Rs. 1 lakh.

2. Kotak 811 offers a 4-percentage-point interest rate on balances over Rs. 1 lakh and up to Rs. 1 crore.

3. A 3.50 percent interest rate on balances above Rs. 1 crore.

Criteria for Eligibility

To open a Kotak Mahindra Zero Balance Account, the applicant must meet the following requirements.

1. A person who is at least 18 years old.

2. He or she must be a permanent resident of India.

Documentation is needed.

The following documents are required to apply for a Kotak 811 zero balance account.

1. Visage Card 

2. Aadhaar Card 

What is the procedure for opening a Kotak 811 Savings Account?

As previously stated, a Kotak 811 savings account is a digital zero balance savings account that can be opened online. The account opening process is seamless, requires no touch, and takes only a few twinkles.

Install the Kotak mobile banking app on your device. Simply fill out a few steps to open an account online from the comfort of your own home or office. Simply maintain your Visage card and Aadhaar number on hand.

You can use your bank account with no limits on deposits or balances once the necessary KYC is finished.

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