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Kotak 811 launches India's first zero-contact, video KYC savings account.
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For Kotak Bank Customers
For Kotak811 Customers
Experience the all-new Kotak Netbanking Lite
Simpler, smarter & more intuitive than ever before. Now accessible on your mobile phone!
| Particular | Kotak 811 Limited KYC | Kotak 811 Lite | Kotak 811 Full KYC Account | |
|---|---|---|---|---|
| Average monthly Balance | Zero | Zero | Zero | |
| Funds Transfer | NEFT / RTGS / Funds Transfers / IMPS (Through Net / Mobile Banking)# | NEFT / IMPS: Nil Charges; (RTGS: Not available) | Outward fund transfer is not available | NEFT / IMPS/RTGS: Nil Charges |
| NEFT / RTGS done through Branch | Not available | Not available | For NEFT: Upto Rs.10000: Rs.2; Rs.10001 to Rs.100000: Rs.4; Rs.100001 to Rs.200000: Rs.14; > Rs.200000 : Rs.24 For RTGS: Rs.200000 to Rs.500000 : Rs.20; > Rs.500000: Rs.40 For RTGS: 200000 to 500000:20; >500000:40 |
|
| Cash Transactions | Cash Transactions at Branch / Cash Deposit Machine (Deposit or Withdrawal) | Nil Charges for 1 transaction or 10,000 / month, whichever is earlier. Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 50) (Cash Withdrawal: Not available) |
Nil Charges for 1 transaction or 10,000 / month, whichever is earlier. Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 50) (Cash Withdrawal: Not available) |
Nil Charges for 1 transaction or Rs10,000 / month, whichever is earlier (applicable for both cash deposit and cash withdrawal separately). Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 50) For 811 Select customers: Nil Charges upto 4 transactions or Rs1 lac / month, whichever is earlier (applicable for both cash deposit and cash withdrawal combined). Post these limits, charged at Rs. 4.5/- per Rs. 1000/- (Minimum Rs. 150 |
| Debit Card / ATM Charges (Virtual Debit Card) | Issuance / Annual Fee / Replacement | Nil Charges | Virtual Prepaid Card with Nil Charges | Nil charges |
| Debit Card / ATM Charges (with Physical Debit Card) | Classic Debit Card-Annual Fees Or Replacement of Lost Debit Card (Physical Debit card) | Rs. 299 p.a. (inclusive of taxes) (available on request) |
Not available | Rs. 299 p.a. (inclusive of taxes) (available on request) |
| My Team/Other Image Debit Card (available on request only) | One time image cost basis selected Image + Rs. 299 p.a. (inclusive of taxes) Annual charges | Not available | One time image cost basis selected Image + Rs. 299 p.a. (inclusive of taxes) Annual charges | |
| Kotak Bank's ATM Financial Transaction / Non-Financial Transaction* | 5 financial Transaction / month @ nil charges, thereafter Financial Txn. – 21.00 / Txn. No charge for non-financial transactions |
Not available | 5 financial Transaction / month @ nil charges, thereafter Financial Txn. – Rs. 21.00 / Txn. No charge for non-financial transactions |
|
| Other Domestic ATMS Financial Transaction / Non-Financial Transaction## | Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of Maximum 3 transactions @ nil charges in Top 6#+ Cities, thereafter Financial Transaction 21.00 / Txn. Non-Financial Transaction 8.50 / Txn. |
Not available | Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of Maximum 3 transactions @ nil charges in Top 6#+ Cities, thereafter Financial Transaction Rs. 21.00 / Txn. Non-Financial Transaction 8.50 / Txn. |
|
| Declined Transactions due to insufficient balance Transactions declined at merchant outlets/websites/ATMs, due to insufficient balance(w.e.f April 1,2019) |
Txn. declined charges Rs. 25 / instance | Not available | Txn. declined charges Rs. 25 / instance | |
| Cardless cash withdrawal (IMT) | Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction | Not available | Nil charges up to 1 transaction per month and subsequent transactions will be charged Rs. 10/- per transaction | |
| Financial Transaction / Non-Financial Transaction at International ATM + | 150 / Txn. for Financial transactions and 25 / Txn for non-Financial transactions | Not available | Rs.150 / Txn. for Financial transactions and Rs.25 / Txn for non-Financial transactions | |
| DD / Pay order / Cheque book | DD / Pay Order | Not available | Not available | Rs. 4/- per Rs. 1000/- (Min Rs. 50 Max Rs. 10000) For senior citizens Rs. 3/- per Rs. 1000/- |
| FCY DD / TT / Cheque Collection / Revalidation / Cancellation / FCY Cheque Deposited and Return |
Not available | Not available | Rs. 500 | |
| At-par Cheque Book Charges | Not available | Not available | Chargeable Rs. 3 per cheque leaf (available on request) For 811 Select customers: Nil Charges for 5 Cheque leaves per Yr Thereafter chargeable@ Rs 3 per cheque leaf (available on request) (Min 25 leaves in one cheque book when requested via Kotak Mobile Banking App) |
|
| ECS / Cheque Issued & Returned (due to non-availability of funds) | Not available | Not available | Rs. 500 / instance | |
| Cheque Issued & Returned Fee for Non-Financial Reasons |
Not available | Not available | Rs. 50/ instance | |
| ECS Mandate Verification | Not available | Not available | 50/ instance | |
| SI Failure | Not available | Not available | Rs. 200 | |
| Cheque deposited and returned (INR) | Not available | Not available | Rs. 200 | |
| Branch Requests | Duplicate Ad-hoc statement, Balance & Interest Statement, Foreign Inward Remittance Certificate, Duplicate Passbook, TDS Cerificate Through Branch or any other Record Retrieval, Stop Payment Single / Range of cheque thru branch; DD / PO / BC Revalidation / Cancellation( INR); Annual Combined Statement Physical; Monthly Physical Statement; Regeneration of PIN-Net Banking/Phone |
Not available | Not available | Rs 100 / Request For Senior Citizens: DD Cancellation Charges - NIL, Other mentioned services except Foreign Inward Remittance Certificate (FIRC) - Rs 75/ request, FIRC-Rs 100/ request |
| Statements & Alerts | Statements | Email statement @ nil charges Physical statement @ 100 / Request |
Email statement @ nil charges Physical statement @ 100 / Request |
Email statement @ nil charges Physical statement @ Rs. 100 / Request |
| Balances and Transaction & Value added alerts (Daily / Weekly) | 50 p per SMS (Daily/Weekly) | 50 p per SMS (Daily/Weekly) | 50 p per SMS (Daily/Weekly) | |
| Home Banking Service | Cash** / Instrument Pick Up / Delivery (Not Valid for Ahmedabad & Kolkata |
Not available | Not available | Rs. 150 per visit |
| Other Charges | TOD | Not available | Not available | TOD: Rs 500 |
| Cheque purchase | Not available | Not available | Cheque Purchase Charges: 0.5 / 1000 (Min Rs. 50; Max Rs.10000) |
|
| Request for PIN generation/re-generation (sent through courier) | 100/request | 100/request | Rs. 100/request | |
| Features of Kotak811 Lite Mobile Account: Aggregate of all credits should not exceed Rs. 5,000 in a calendar month. Balance in the account should not exceed Rs. 5,000 at any point in time. The aggregate of all credits should not exceed Rs. 1,20,000 in a financial year. Customer won't be allowed to transfer funds before the account is converted to Full KYC account. No cheque book will be issued and cheque deposit will not be allowed to customers. | ||||
| Features of Kotak811 Limited KYC Account: Aggregate of all credit should not exceed 2 Lakh in a year and, Account balance at any point should not exceed 1 Lakh. Customer can transfer a maximum amount of 1,00,000 through online transfers. Customer won't be allowed to transfer funds through branch before the account is converted to Full KYC account. No cheque book will be issued. | ||||
| ##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction. | ||||
| #+ Top 6 Cities Transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad ATMs. | ||||
| *Financial transaction at ATM will include Cash withdrawal, Non-Financial transaction will include balance enquiry, PIN change, Mini statement request. | ||||
| Transaction and Value Added SMS alerts would be sent to the customers who have subscribed for Daily / Weekly. Balance Alerts facility. Alerts that have been mandated by RBI as well as alerts which are deemed appropriate by the Bank, will be sent free of charge, even if Daily / weekly Balance SMS alerts facility has not been subscribed. | ||||
| *^ Physical regeneration of PIN will not be allowed for Kotak811 customers. Customer need to visit Mobile banking App to generate the PIN. | ||||
| # Indo - Nepal Remittance Scheme (NEFT Charges): If Beneficiary maintains an Account with Nepal SBI Bank Ltd. (NSBL): Rs. 25 per txn (incl all taxes). If Beneficiary does not maintain an Account with Nepal SBI Bank Ltd (NSBL): Upto Rs. 5000 – Rs. 75 per txn. & beyond Rs. 5000 – Rs. 100 per txn. (incl all taxes). Nil charges for NEFT done thru Mobile banking / Net Banking. |
||||
| The Bank will charge cross-currency mark-up of 3.5% on foreign currency transactions carried out on Debit Cards. The exchange rate used will be the VISA / Master Card wholesale exchange rate prevailing at the time of transaction. | ||||
| A charge of 1% on the transaction amount + GST will be applicable on cash withdrawal transactions done at merchant outlets (Cash@PoS) [w.e.f April 1,2019] | ||||
| Charges are exclusive of the Goods and Service Tax (GST). | ||||
| With effect from July 1, 2017 the effective Goods and Service tax rate will be 18% on taxable value. The GST rate is subject to change from time to time. | ||||
| State Government Taxes/ Cess as applicable shall be charged. | ||||
| With effect from September 1st 2019, TDS at the rate of 2% (plus applicable surcharge and cess) will be deducted on cash withdrawal in excess of one crore rupees in aggregate made during the financial year. | ||||
| Any rejections in applications made through ASBA mode due to insufficient funds will attract charges of Rs. 350/- per rejection<> | ||||
| As per RBI guidelines, Business / Commercial transactions are not permitted in the Savings Accounts. | ||||
| +Additional charges levied by another bank on international ATM transactions will also have to be borne by the card holder. | ||||
| The above charges are subject to revision with a prior intimation of 30 days to all account holders. Closure of account due to revision of charges will not be subject to account closure charges. | ||||
| ~Any purchase / sale of foreign exchange will attract Service Tax on the gross amount of currency exchanged as per Service Tax on Foreign Currency Conversion Charges (FCY) table below. | ||||
| **Wef 1st Feb’ 21 Cash Pick Up / Delivery for Ahmedabad & Kolkata for all SA & CSA account types - Free limits not valid on Cash Pickup Charges. For charges Kindly refer to table below. | ||||
| Cash Pick Up / Delivery (Ahmedabad & Kolkata Only): Up to 2 lacs: Rs 750/- per Req, Rs 2 Lacs to Rs 4 lacs: 1000/- per req, Rs 4 Lacs to Rs 8 lacs: 1575/- per req, Rs 8 Lacs to Rs 15 lacs: 2650/- per req, Rs 15 lacs & above: 4900/- per req | ||||
| Value of purchase or sale of Foreign Currency | Value on which GST rate will be applicable | |||
| Up to Rs. 1,00,000 | 1% of the gross amount of currency exchanges or minimum of Rs. 250/- | |||
| Above Rs. 1,00,000 to Rs.10,00,000 | 1000 + 0.50% of the gross amount of currency exchanged less 1,00,000. | |||
| Above Rs. 10,00,000 | Rs.5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to maximum of Rs. 60,000/- | |||
| Telegraphic Transfer Charges (other than payment for imports) | INR 1250 + Tax | |||
| Correspondent Bank Charges (Outward remittance wherein the foreign bank charges are paid by remitter) | INR 1000 + Tax | |||
| Issue of FCY DD's | INR 750 + Tax | |||
| Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) | 0.125 %; minimum INR 1,000 +Tax | |||
Your zero balance digital savings account does not require you to carry a passbook. You can check all your transactions online on the Kotak811 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
You can start a recurring deposit or a term deposit through the Mobile Banking App or through Net Banking. Please visit the ‘Banking’ section inside the Mobile Banking App or Net Banking and click on ‘Open Recurring Deposit’ or ‘Open Term Deposit’.. These features are available to customers who have met us to verify their identity details. If you haven’t done that yet, please schedule an appointment via the Mobile Banking app or call customer care on 1860 266 0811*
*Local call rates apply.
You can see the ‘Scan & Pay’ option inside the Mobile Banking App. You will see this under the ‘Banking’ section of the Mobile Banking App. Once you click on it, it will open the QR code reader. You need to project it on the QR code and it will read it automatically. Once the QR is successfully captured, you can punch the amount you wish to pay and the amount will be transferred instantly.
Kotak 811 brings you a Virtual Debit Card inside your Mobile Banking App. You can use it to shop online, pay bills, recharge or use ‘Scan & Pay’ at merchant outlets. 811 Debit Card is given to customers who have verified their details using Aadhaar OTP.
Yes, you can! You can request a physical Debit Card from the 811 widget in your Kotak Mobile Banking app. Just login into the Kotak Mobile Banking App and navigate to 811 section -> virtual debit card -> Get one now.
