Kotak 811 Mobile Banking Account:- Kotak Mahindra Bank has launched Kotak 811 on March March 29, 2017. It is an online saving account you can say Virtual Bank Account, that can be opened by downloading the bank’s application on your smartphone and authenticating oneself with Aadhaar credentials via a one-time password.
Kotak 811 Mobile Banking
The account offers zero-balance savings account with zero-charges for all digital transactions, where customers can earn 5 percent interest on a savings account balance up to ₹1 lakh; 6 percent on balances above ₹1 lakh and up to ₹1 crore.
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Kotak 811 account is for single users. Joint accounts cannot be opened with Kotak 811.
Benefits Of Kotak 811 Mobile Banking Online Saving Account :
- Zero minimum balance requirement.
- Zero charges for digital transactions.
- Get a maximum of 6% p.a. on balance over Rs.1 lakh to maximum Rs.5 crores.
- You can Earn a maximum of 5% p.a. on balance up to Rs.1 lakh.
- Earn a maximum of 5.5% p.a. on balance above Rs.5 crores.
- Instant account opening with Aadhaar card and PAN card.
- Online shopping can be done using Kotak’s virtual debit card.
- Using Scan & Pay, you can make payments for in-store purchases.
- Free IMPS, RTGS, and NEFT feature for money transfer through Net Banking and mobile banking.
- Using app in-app features via mStore, you can book movie tickets (through PVR), shop online (via Flipkart), and book flight tickets (through goibibo).
- Transfer money instantly using BHIM UPI without the need for any bank information.
- Transfer funds easily on the go without registering a beneficiary.
- Apply for a Kotak Credit Card.
- Regenerate your Debit and Credit card PINs.
- In case of loss, temporarily switch off your Kotak Debit Card for security purposes.
- Pay Credit Card bill online.
- Check your Bank Account statement. Book train tickets using IRCTC, shop on Flipkart, goibibo and more in KayMall.
- Recharge your mobile & DTH subscriptions with ease.
- Purchase and redeem Mutual Funds and keep track of your investments.
Kotak 811 Eligibility to open Bank Account:-
- You must be a minimum 18 years old or above.
- You must be a citizen of India.
- The applicant must be a new customer of Kotak Mahindra Bank.
- The customer must have a PAN Card or Aadhar card.
Steps to Open Kotak 811 Saving Account.
|Banking Type||Paperless Banking Through App|
|Registration Link||Open An Account|
|iTunes App Link||Download App|
|Account Type||Savings Accounts|
|Interest Rates||Up to 6%|
How to Open Kotak 811 Mobile Banking Saving Account.
- Visit Kotak 811 Sign up Page
- Enter Name, Phone No. Address and Email or other.
- Click on “Get 811″ Option.
- You will Receive OTP on Your Registered Mobile Number. Verify It
- Now, You will see Get DBT benefits with 811 screens. Click on NO.
- Then, You have to Fill Your Aadhar Details and PAN Number.
- After this, You need to fill other details like Salary, Occupation Details, Marital Status, Father’s name, and Mother’s name.
- Now, add nominee details and Again click on Next Button.
- Now, You have to make an appointment for full KYC verification.
- You have to Set Up PIN. Select M Pin.
- Enter Login and Password of your choice for Kotak 811 App.
- Verify with OTP and your Sign up is Done. Your Kotak 811 Account is successfully Opened.
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Account FAQs of Kotak 811 Mobile Banking
Q.1. How can I deposit money into my Kotak 811 Savings Account?
- Cash deposit at the nearest Kotak Mahindra Bank branch.
- Net Banking.
- Payment gateway using your debit card.
- Transfer funds from another account via NEFT or IMPS.
Q.2. What is the deposit limit in the 811 accounts?
Answer- The maximum money you can keep in the 811 accounts is Rs.1 lakh with no KYC but you have to complete your KYC by visiting Bank to upgrade your limits.
Q.3. What is a virtual debit card?
Answer- Kotak 811 account offers a virtual debit card in your mobile banking app that can be used for online shopping, bill payments, and mobile recharges.
Q.4. Can I request for a physical debit card?
Answer- You can request for a physical debit card after opening your 811 account. Debit card will be issued with a charge of Rs.299 p.a.
Q.5. What are the security features used to protect my banking information?
Answer- The bank used security standards such as Firewalls and Internal Systems Encryption to prevent unauthorised access to your banking information.
Q.6. What is Kotak 811 Edge Account?
Answer- Kotak 811 Edge Account offers you the best of 811 and regular savings accounts. You must have a minimum balance of Rs.10,000 in this account. You will be issued a platinum chip debit card, free transaction limits, and free transactions at Kotak ATM centres. You have the option to convert your 811 to 811 Edge.
Q.7. What is Kotak 811 Lite Account?
Answer- If you haven’t looped your mobile number and Aadhaar number, you can still open a Kotak 811 Lite Account. 811 Lite can be upgraded any time by visiting the nearest Kotak Mahindra Bank branch. The maximum balance you can maintain in this account is Rs.20,000 per month. This account will be valid for 3 years within which you can convert it into a full KYC account.
Final Words:- Here are full details of Paperless Banking Kotak 811 Mobile Banking Saving Account Online. Personally I Am Using Kotak 811 Account And Enjoying All The Benefits. So without any issue, you can open Kotak 811 Online Bank Account. Do Comment If You Need Any Help From My Side.
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