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For Kotak Bank Customers
For Kotak811 Customers
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Kotak 811 is a new age bank savings account offered by Kotak Mahindra Bank. You can open a Kotak 811 savings account by downloading the Kotak Mobile Banking app and registering using your Aadhaar number, PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.
Kotak 811 pays interest of up to 4%* p.a. with zero minimum balance requirement. It allows you to make online money transfers for free (IMPS, NEFT and RTGS) and comes with a Virtual Visa Debit Card which you can use to shop online as well as pay via Scan and pay at merchant outlets.
W.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Account
Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.
If you have opened 811 Lite account as you didn’t receive Aadhaar OTP then you need to convert your account to Full KYC account in order to get Savings account interest, virtual debit card and cheque book.
Just visit the playstore from your Android phone and download the Kotak Mobile banking App. Once installed, click on 'Get started Now' to start the New Account opening journey.
You need to be more than 18 years of age, and a resident of India with an Indian address to be eligible to apply for a Kotak 811 savings account.
Once your bank account is opened, you can just login to our Mobile Banking App and start using it. It is packed with features like shopping, paying bills, booking movie tickets, booking air or train or bus tickets, or doing funds transfers in a snap, Kotak 811 savings account brings you convenience at your fingertips.
You can deposit money into your 811 savings account via a payment gateway using your Debit Card or Net Banking or just do funds transfer from your another account through NEFT or IMPS. You can also do a cash deposit in this savings account by visiting the nearest Kotak Mahindra Bank branch.
The maximum amount you can keep in this account at any given point of time is Rs. 1Lakh. You can credit a maximum of Rs. 2Lakhs in this account and post which you will need to convert to Full KYC account.
You can fix up an appointment with our bank representative and convert your account to Full KYC Account. Full KYC requires in-person verification and your account will be converted to Full KYC within minutes.
You can either book an appointment through Mobile Banking App or Call our customer care on 1860 266 0811* and schedule your appointment or you can visit nearest Kotak Mahindra Branch to convert your account. One of our executives will simply authenticate your Aadhaar details using a biometric device, and you'll be all set in under 5 minutes.
*Local charges apply
Kotak 811 brings you a Virtual Debit Card inside your Mobile Banking App. You can use it to shop online, pay bills, do recharges or use 'Scan & pay' to pay across lakhs of merchants across the country. If you need to check your card details - card number, expiry date and cvv - it's easy, just log in to your Mobile Banking app after opening your Kotak 811 account.
Yes, you can. You can request one once your Kotak 811 savings account is opened. You can select the option to receive physical Debit Card in the account opening journey. You can also request one at a later date, via our Mobile Banking app. (Physical Debit card will be charged at Rs. 299 p.a.)
Kotak 811 Edge is a savings account which brings you the benefits of an 811 Digital Savings Account combined with the benefits of an Edge savings account like -
W.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Account
Example: If End of Day Savings Account balance is Rs. 1,50,000, then Rs. 1,00,000 will earn interest of 3.50% p.a. and Rs. 50,000 (being the balance in excess of Rs. 1,00,000), will earn interest of 4.00% p.a.
This account comes with Platinum Chip Debit Card, high Free transaction limits, Free transactions on all Kotak ATMs and many more perks. You can either choose this account while going for Full KYC, if you have already opened Kotak811 account or you can directly apply for the same on our website www.kotak.com.
Not registered your mobile number with your Aadhaar number? Or haven’t received an OTP?
Don’t worry, we’ll create a Kotak 811 Lite account for you. You can use your 811 Lite account to try out the features of 811. And upgrading is easy. Just schedule an appointment so one of our representatives can visit you to verify your KYC details. You’ll be up and running in no time!
The aggregate of all credit in this account should not exceed Rs. 10,000 in a calendar month and the maximum amount you can keep in this account at any given point of time is Rs. 10,000. The validity of this account will be 12 Months and the aggregate of all credits in the account in a financial year should not exceed Rs. 1,00,000/- , unless Biometric full KYC process is completed. Any credit exceeding the limits stated above will not be accepted into the account. In case full KYC is not completed within 12 months from the date of account opening no more credits will be permitted.
This is a quick and easy process and we will help you through it. Converting to a full KYC account will also remove the transaction limits from your account. The account is valid for 12 months, within which you will need to convert it to a Full KYC Account. This will remove the transaction limits from your account. It’s a quick and easy process and we will help you through it.
Our customer executive will ask you to verify your credentials by checking your fingerprints on a biometric device. We'll need just a couple more details from you, and your final consent to release your details through biometric authentication Once this has been done, your account will be upgraded to a full KYC account.
We aim to keep our process paper-free by using fingerprint-based authentication, and we don't really require you to show us any documents.
Unfortunately, the Kotak 811 account is intended for a single user only, and cannot be held jointly.
The security of your personal information and your online banking transactions are of utmost importance to Kotak Mahindra Bank. We maintain strict security standards, including Internal Systems Encryption and Firewalls, to prevent unauthorized access to your information.
Unfortunately, we need your PAN to open your 811 account. If you don't have one, please visit www.apply.kotak.com to open your kotak 811 Edge account and one of our customer executives will contact you. Since you don't have a PAN, you will need to fill Form 60 and submit it with your application.
Unfortunately, we need your Aadhaar number to open your 811 account via our app. If you don't have one, please visit www.apply.kotak.com to open your Kotak 811 Edge Savings account and one of our customer executives will contact you.
Average Monthly Balance is calculated by dividing the sum of all ‘End of Day’ balances in a month by the number of days in that month.
Average Monthly Balance is calculated by dividing the sume of all ‘End of Day’ balances in a month by the number of days in that month.
Please refer the following illustration for the calculation of AMB.
Sample Bank Statement:
Sr. no. |
Date |
Narration |
Withdrawal |
Deposit |
Closing balance |
1 |
January 1st, 2012 |
Opening Balance |
|
|
Rs. 10,000/- |
2 |
January 10th, 2012 |
ECS Credit-VD |
|
Rs. 10,000/- |
Rs. 20,000/- |
3 |
January 16th, 2012 |
Cash Withdrawal |
Rs. 5,000/- |
|
Rs. 15,000/- |
4 |
January 25th, 2012 |
Cheque Deposit- MICR Clearing |
|
Rs. 20,000/- |
Rs. 35,000/- |
5 |
January 28th, 2012 |
HPCL Petrol Pump POS 43860000000012 |
Rs. 1,000/- |
|
Rs. 34,000/- |
6 |
January 30th, 2012 |
Cash Deposit Mumbai |
|
Rs. 9,000/- |
Rs. 43,000/- |
7 |
January 31st , 2012 |
Funds Transfer |
Rs. 25,000/- |
|
Rs. 18,000/- |
AMB Calculation:
Sr. No. |
Time Period |
Calculation |
Amount (Rs.) |
1 |
EOD Balance from January 1st, 2012 to January 9th, 2012 |
Rs. 10,000/- x 9 |
Rs. 90,000/- |
2 |
EOD Balance from January 10th, 2012 to January 15th, 2012 |
Rs. 20,000/- x 6 |
Rs. 1,20,000/- |
3 |
EOD Balance from January 16th, 2012 to January 24th, 2012 |
Rs. 15,000/- x 9 |
Rs. 1,35,000/- |
4 |
EOD Balance from January 25th, 2012 to January 27th, 2012 |
Rs. 35,000/- x 3 |
Rs. 1,05,000/- |
5 |
EOD Balance from January 28th, 2012 to January 29th, 2012 |
Rs. 34,000/- x 2 |
Rs. 68,000/- |
6 |
EOD Balance for January 30th, 2012 |
Rs. 43,000/- x 1 |
Rs. 43,000/- |
7 |
EOD Balance for January 31st , 2012 |
Rs. 18,000/- x 1 |
Rs. 18,000/- |
|
Total EOD balances for the month January 2012 |
|
Rs. 5,79,000/- |
|
Divide by the no. of days in the month |
|
31 |
|
Average Monthly Balance (AMB) |
|
Rs. 18677.42/- |
Your Kotak811 digital savings account does not require you to carry a passbook. You can check all your transactions online on the Kotak Mobile Banking App.
If you wish to have a statement of your transactions for documentation purposes, you can place a request on the Kotak Mobile Banking App and receive your statement on your registered email ID.
If you still prefer a Passbook, you can apply for it online and get it be delivered to your preferred communication address as per Bank records in 7-10 working days. Please note, only Full KYC account holders can request for a passbook. This process is applicable only for customers applying for a passbook for the first time. For second passbook onwards, please visit your nearest bank branch.
To apply for a passbook, Click Here
Through this facility you can earn a much higher interest on your idle funds in the Savings Bank Account.
The idle funds from your savings account (at a pre-specified threshold limit) are transferred automatically to a term Deposit. The funds move back in to the savings account in case of funds requirements.
The advantages of this facility are:
To apply for Kotak Mahindra Bank Pro Savings Account, you should belong to anyone of the following categories
Go to Get Help section in Website > Service Request > View All. Select Change of Home Branch Request. User to enter Login credentials and the OTP received. User can change the Home Branch at CRN level (all savings accounts) or at a savings account level.
