811 Kotak: First Ever Digital Account That The Account Holder Can Download And Operate

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You can open a bank savings account in five minutes. 811 Kotak is a zero balance bank savings account. You can use the account to transform the Indian economy into a cashless one it’s a full-digital banking service. This site can open with only for single users and not for joint users.

They can also offer other, digital accounts such as 811 lite savings account and 811 OTP savings account to fulfill the desires of different customers. Those customers who are without a PAN card or Aadhaar number can apply for 811 Kotak edge account.

The name of the plan 811 inspired by the day when the demonetization move was announced by the PM, and this was the first step to digital India. That’s why 811 Kotak is the digitization of the country.

Kotak 811 Account Opening Procedure

Do you want to use the Kotak 811 account? For that, you need to download or install the Kotak mobile banking app. After installation from your smartphone should provide your Aadhaar number, PAN card, and other personal or professional details. Set up a mobile banking PIN and immediately start using your account.

Before applying for a Kotak 811 account should provide documents also which need to match with the bank’s norm. If all the shared data matches with the bank, then nobody will stop you to get the benefits of the 811.

You should be 18 years of age or above, must be a new customer of Kotak Mahindra Bank provide Aadhaar number or PAN card for KYC.

Kotak 811 Account Features And Benefits

  • When you want to open the account, required zero minimum balance
  • For digital transactions zero charge
  • Get a maximum of 6% per annum on balance over Rs 1 lakh to maximum Rs 5 crores
  • On balance up to Rs 1 lakh, will get a maximum of 5% per annum
  • On balance above Rs 5 crores, will get a maximum of 5.5% per annum
  • No penalties for the minimum amount and get the interest over the balance
  • With Aadhaar number or PAN card open instantly your account
  • Through net banking or mobile banking service will transfer money free via IMPS, NEFT, and RTGS
  • Through the mobile app, the customer can pay for grocery, shopping, tickets, movies, and other requirements without cash or swapping your cards for the payment
  • With pay and scan, features make payment
  • Through 811 Kotak account app can shop, book movie tickets, subscribe to the magazine and more with a single app
  • It’s a plastic made debit card is an old age phenomenal. That’s why to shop, pay bills or recharge your mobile more with the virtual debit card which now can be fitted on your mobile

The Kotak 811 have the same products and all the services which a regular savings account will use Aadhar OTP authentication to open the savings account on the mobile phone. The customer can use the account not only for transactions but also can other services like loans and manage investments.

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