Saturday, May 18, 2024

Kotak 811 Digital Account: A Complete Guide to Online Banking

Complete Guide to Online Banking: Kotak 811 Digital Account

The Kotak Mahindra Bank’s holds the Kotak 811 Zero Balance Account and it is a fast and simple way of banking! In less than five minutes, you can create this account under four different alternatives. Your savings will be rewarded with a fantastic interest rate of up to 4.00% p.a. Only Rs 10,000 is required for an average monthly balance in 811 Edge accounts.

If traditional bankings’ botherations have tired you out, go for the Kotak 811 Digital Account. This complete guide deals with this modern online banking.

What exactly is a Kotak 811 Digital Account?

Kotak Mahindra Bank took the initiative in rolling out 811 account as a zero-balance bank savings account that has stunning digital facilities with the thought of making India a cashless economy. It’s sophisticated, high definition all-inclusive digital banking system that can be accessed through your smartphone. Opening one takes just five minutes or so. The product comes in four different subtypes each of which tailors itself specifically for different purposes:

Kotak 811 Lite

There is no minimum balance or any other requirements.

Physical/virtual cards are not provided.

Validity period – one year from date of opening.

Can convert into an 811 Edge account at any time.

Kotak 811 Limited KYC

No minimum balance requirement exists.

Validity period – one year from date of opening.

Cheque books available (charges apply).

Kotak 811 Full KYC Account

There are no minimum balance guidelines issued by KMBL here either.

Unlimited transactions and daily savings allowed without limit.

Chequebook on request basis only

Kotak 811 Edge

Average monthly balance – Rs10,000/= only.

Free access to all ATM machines run by your bank anytime round the clock.

Free 25 sheet cheque book every quarter.

Platinum debit card costing Rs 150 annually

Kotak 811 Digital Account: A Comprehensive Guide to Online Banking

Follow these steps to open your Kotak 811 digital account:

Go to the Play Store on your smartphone.

Get and install from the mobile banking app from Kotak.

Register with Aadhaar number, PAN, and other personal details.

Create a Mobile Banking PIN.

Now you are ready to use your account right now!

Eligibility Criteria for Kotak 811 Digital Account

The following eligibility criteria must be met in order to apply for Kotak’s’ 811 Digital Account:

You must not be less than eighteen years old at least or above that age limit

You have to be an Indian national by citizenship.

It is essential that you are a new client of Kotak Mahindra Bank

Documents Required for Opening Kotak 811 Digital Account

Make sure you have these documents in place while applying for a Kotak 811 Digital Account:

PAN Card (Mandatory)

Aadhaar Card

Benefits of using the Kotak 811 Digital Account

Features and Benefits of Kotak 811 Savings Account:

Lite 811

Easy account opening with PAN card alone.

Monthly balance up to Rs10k and annual credit upto Rs1L depending on type of account held.                                                  This account will expire after one year so KYC has to be done again. Credit cards or checks are not needed at all. It is appropriate for those who would need their Aadhar numbers linked with their mobiles. This account does not earn any interest.

Limited KYC; Full KYC, Edge accounts:

Open with PAN card as well as Aadhaar card only.

Rs2 lakh deposit limit and also maintain up to Rs1 lakh balance over a year.

The bank account is suitable for those customers whose annual transactions do not exceed one hundred thousand rupees.

It gives a very good interest of 4.00%.

Once you have completed the KYC process, you will have one year in which to convert your Lite account to a Limited account; otherwise, the accounts will be closed.

811 Full KYC Account

Account opening process is fast and easy.

No monthly minimum balance requirement.

Allows numerous operations and facilitates long-term savings.

Ability to apply for a cheque book.

811 EDGE

It acts like any other savings account with a minimum monthly balance requirement of ten thousand shillings that needs to be maintained to keep it active.

Non-observance may result in being charged with 5% penalty fee on this non-compliance.

Although many services are offered by EDGE free of charge, best check with your lender on these offerings as well as premiums made thereof. Free issue of a cheque book with 25 leaves per quarter

Whether you desire an elementary account devoid of any interests or limited KYC 811 kotak mahindra bank having attractive rates or even fully KYC having more features, Kotak 811 has got you covered in terms of various banking options available for you


This mobile banking app changes everything as regards digitized banking. Managing finances couldn’t be easier than through its user-friendly interface, different kinds of accounts and their nice offers.


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