Gone those days when people use to carry cash for shopping and paying bills. Now in the era of digitalization. Kotak Mahindra has launched the Kotak 811 Savings Account which is digitalized saving account. Kotak 811 is the new way of online banking. With the launch of revolutionary Kotak 811 Savings Account life of the people became easier. It is the non-maintenance account. TheKotak 811 Savings Account holders have the facility of using the innovative 811 App as well as virtual debit which is provided free of cost. With the help of Kotak 811 Savings Account making payments of DTH, Mobile Bills, railway tickets, movie tickets, electricity bill etc. became easier. Kotak 811 Zero Balance Savings Account pays interest of up to 6% p.a. with zero minimum balance requirements.
Unlike regular savings account with Kotak 811 Savings Account people have to visit the play store from their Android phone and download the Kotak Mobile Banking App. Once installed, click on ‘Get started now’ to start the new account opening journey. Once completed with the procedure, the account number & CRN will be generated instantly and people can start using the account. People need to be more than 18 years of age, and a resident of India with an Indian address to be eligible to apply for Kotak 811 Zero Balance Savings Account.
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Kotak 811 Savings Account is basically a paperless digital account which allows people to open accounts in less than a 5 minutes. The main benefit of opening Kotak 811 Savings Account is that the account is opened without any paperwork. Kotak 811 Savings Account also offers a Virtual Debit Card to shop online via Flipkart, Amazon and others, booking movie tickets via PVR and other multiplexes, flights and hotel rooms via goibibo, MakeMyTrip and others.
With the help of this account people can also pay using the scan and pay option in stores. People can do online transaction using NEFT/IMPS with no additional charges. The mStore feature in the Kotak 811 saving Account app allows users to shop online without downloading other applications.
With the help of this account people can also pay using the scan and pay option in stores. People can do online transaction using NEFT/IMPS with no additional charges. The mStore feature in the Kotak 811 saving Account app allows users to shop online without downloading other applications.
The benefits that the person will get from Kotak 811 Savings Account is that person can earn 5% p.a. interest on savings account balance over Rs. 1 lakh. Person can earn 5.5% p.a. interest on savings accounts balances above Rs 1crores which is applicable for Resident Accounts only. If a person can open Kotak 811 Lite Accountas he/she didn’t receive Aadhaar OTP then person needs to convert their account to Full KYC account in order to get Savings account interest, virtual debit card and chequebook.
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