Kotak 811 Digital Bank Account is a new revolutionary banking service of Kotak Mahindra Bank. The bank helps the customer to open a new bank account instantly with a smartphone. The customer doesn’t need to visit Kotak Branch to open Kotak 811 Bank Account.
Kotak Mahindra Bank was founded in 2003 and has 1369 branches all over India. Customers can access all banking facilities of Kotak 811 in their smartphone.
Kotak 811 Features
- Zero Balance Account: First of all, Kotak 811 is a zero balance account. There is no minimum balance requirement in this account. The customer doesn’t have to pay charges for low account balance in Kotak 811.
- Instant Account Activation: The customer doesn’t need to visit the branch personally. The bank account will become active online through customer mobile phones.
- Up to 6%* Interest Rate per annum: Finally, there is one saving account that can give a 6% interest per annum to its customer.
- Virtual Debit Card: Kotak 811 account gives you a virtual debit card. with this card, you can do shopping or any type of transaction that debit cards can do.
Kotak 811 Digital Bank Account Eligibility
To get Kotak 811 account, you have the following condition matched:
- First of all, you must 18 years of age or older, and a resident of India with an Indian address.
- To apply online, you’ll need to have your PAN and Aadhaar Number.
- Kotak 811 is available for individuals who do not have any existing relationship with Kotak Mahindra Bank.
How much money can I deposit in Kotak 811?
|Account Restrictions||OTP Based||Lite||Full KYC|
|Total cumulative credits Allowed||Rs.2,00,000 in a year||Rs.10,000 in a calendar month & Rs 1,00,000 in a financial year||No restrictions|
|Maximum Balance allowed at any given point of time||Rs.1,00,000||Rs.10,000 in a calendar month||No restrictions|
|Time limit to complete your Full KYC||12 months||12 months||Not applicable|
Kotak 811 Digital Bank Account Cheque Book
Kotak 811 account is a digital savings account and doesn’t come with a chequebook by default. If you’d like a cheque book, you can request one through the service request section of the Mobile Banking app.
Kotak 811 Lite Bank Account
The Customer gets an 811 Lite account in the following cases only:
- if a customer doesn’t have opened your account to receive DBT (Direct Benefit Transfers).
- do not want to use Aadhaar for opening your account.
- The customer did not receive OTP on your Aadhaar registered no. or do not have mobile no. registered with Aadhaar.
The customer can deposit only Rs 10,000/- per month in Kotak 811 Lite Account. Maximum Rs. 1,00,000/- per financial year can be credit into Kotak 811 Lite Account. if the customer wants to deposit more amount, then he/she must do in-person full KYC process.
Upgrade Kotak 811 Lite Account into Kotak 811 Full KYC Account
For Kotak 811 Full KYC Account, the customer has to verify his/her personal details. The customer needs to book an appointment with Kotak executives through Mobile Banking App or Call our customer care on 1860 266 0811. Kotak Executive will visit the customer place to complete the in-person KYC verification.