Kotak 811

Kotak 811 Zero Balance Account is an easy solution for all your financial transactions. Kotak Mahindra Bank is the first financial institution to introduce the concept of a Zero Balance Digital Savings Account. You can derive maximum benefits by saving money in Kotak Mahindra Zero Balance Account. Kotak Zero Balance Account Open is enabled with no contact and video KYC. With this benefit, you can open an 811 Kotak Account anywhere and at any time.

Kotak 811 Zero Balance Account provides you unlimited benefits without any restriction on deposits or withdrawals. You can withdraw up to the last rupee in the account as there is no minimum balance stipulation.

Features of Kotak Mahindra Zero Balance Account are

• No minimum balance stipulation. The savings in the account can be utilised till the last rupee.
• You will be issued a Virtual Debit Card that can be used for online shopping immediately after Kotak Zero Balance Account Open.
• No charges for online money transfer from 811 Kotak Account.
• With a few clicks, you can carry out various transactions online like paying utility bills, making investments, online shopping, online money transfer etc. You will have access to over 180 features that enable all the transactions. In addition, it is a secure app with two-level authentication.
• Kotak Mahindra Bank Online Account Open is very simple with verification through video KYC that can be done at the convenience of your home.
• While opening the Kotak 811 Zero Balance Account, you can also apply for 811’Dream Different Credit Card’ without any enrolment fee or annual fee. You will also earn 2X reward points for all online spends.

The following are the variants of the Kotak 811 Savings Account

• 811 Limited KYC
• 811 Lite
• 811 Full KYC Account

811 Limited KYC 

• The account can be opened online through the official website of the Bank or through the 811 apps.
• No minimum balance stipulation
• Physical Debit Card will be issued for a fee of Rs. 199/- p.a.
• A virtual Debit Card for online transactions will also be issued.
• The aggregate deposit permitted to the account is Rs. 2 lakhs in a financial year
• No charges for IMPS and NEFT transactions
• No cheque book will be issued.
• The account is valid for 12 months from the date of opening.
• Cash withdrawal from the branch is not permitted.
• Interest up to 3.5% p.a. will be paid.

811 Lite

• An account can be opened online either through the Official website of the Bank or through the Mobile app
• No minimum balance stipulation
• The aggregate deposit in a calendar month should not exceed Rs. 10000/-
• The aggregate deposit in the account should not exceed Rs. 1.20 lakh in a financial year.
• The account will be valid for a period of 12 months from the date of opening.
• No deposits and investments are permitted.
• No cheque book facility
• Cash withdrawal at a branch is not permitted.
• No outward funds transfer is permitted.

811 Full KYC

• The account can be opened either online or by visiting the nearest branch.
• Need not maintain a minimum balance. Can utilise the funds to the last rupee.
• Physical debit card issued for a fee of Rs. 199 p.a.and virtual debit card issued free of cost.
• Unlimited deposits to the account permitted.
• IMPS, NEFT and RTGS-free of cost.
• Cheque book issued on request.
• Lifetime validity.
• Deposits by way of cash and cheque permitted.
• Cash withdrawal at branch permitted
• Interest up to 3.5% p.a.will be paid

811 Edge

• Instant Account opening with Aadhar Details
• Minimum balance of Rs. 10000/- mandatory.
• Charges applicable for breach of minimum balance stipulation.
• NEFT/IMPS/RTGS-free if done through Netbanking/mobile banking
• For NEFT/RTGS through the branch, a fee between Rs. 4/- to Rs. 50 applicable depending on the amount.
• Platinum Chip Debit Card issued at Rs. 150 p.a.
• Can shop online using Flipkart
• Can book movie tickets
• Can book flight tickets
• Scan and Pay for Retail purchases.
• Cash transactions at the t branch will be free up to a maximum of 4 transactions or Rs. 2 lakhs. Beyond free transactions Rs. 4.50 per Rs.1000/- with a maximum of Rs. 150/- will be collected.
• At ATM, a maximum of 5 transactions, including financial and non-financial transactions, will be allowed. Beyond five transactions, a fee of Rs. 21/- per transaction will be charged.

You can open Kotak 811 Account through the official website of the Bank or by installing the Kotak Mobile App.

• Access the official website of the Bank or install the Kotak Mobile App on Android Playstore. 
  Register the Aadhar and PAN.
• If opening through Mobile App set a PIN and start using the account instantly

To be eligible for Kotak 811 Account opening, you should comply with the following criteria. 
1. The applicant should be above 18 years of age. 
2. Should b a resident Indian.

The documents required for opening 811 Kotak Account are

• Aadhar Card
• PAN

If both the documents are not available, a Limited KYC Account can be opened, which is valid for 12 months. On the availability of the other document, the KYC can be completed, and the account can be updated to 811 Full KYC, which will be valid for a lifetime.

The fees and charges for Kotak 811, wherever applicable, are given below: