How to Open 811 Kotak Account Online – Detailed Steps

If you want to start opening a Kotak 811 account, you are at the right place. In today’s digital age, Kotak Mahindra Bank offers a simple and convenient way to start opening your Kotak 811 account online. This hassle-free process allows you to join the modern banking world with Kotak Mahindra, all from the comfort of your home. Let us explore the step-by-step guide to open a Kotak Mahindra online account and unlock the benefits of 811 savings.

Features of Kotak 811 Zero Balance Savings Account

• Completely Online Opening Process: The Kotak 811 account can be opened online, eliminating the need for physical visits to a bank branch.
• High-Interest Earnings: With ActivMoney, account holders can earn up to 7%* interest per annum on their savings.
• Paperless Process: The account opening process is entirely paperless, ensuring a hassle-free experience without any paperwork.
• Instant Virtual Debit and Credit Cards: Account holders gain access to an instant virtual debit card and the option to obtain a credit card against a fixed deposit.
• No Charges for Non-Maintenance: Kotak 811 offers the benefit of zero charges for not maintaining a minimum balance in the account.
• 24/7 Access: Account holders can enjoy round-the-clock access to their accounts through the Kotak 811 App and Internet Banking, providing convenience and flexibility.
• Free Digital Transactions: Kotak 811 includes free digital transactions, such as NEFT, IMPS, UPI, and options like paying your contacts and scan-and-pay, making it cost-effective for day-to-day financial activities.

Eligibility to Open Kotak 811 Savings Account Online

Meeting these criteria makes you eligible to open a Kotak 811 account online, allowing you to enjoy the benefits and features of a Kotak 811 Savings account.

• Individuals must be residents of India 
• He/She must be 18 years or above.
• Must have Adhaar and PAN card.

Required Documents to Open Kotak 811 Savings Account

Following are the documents that you need for Kotak Mahindra bank account opening

• Adhaar Card
• PAN card

Steps to Open Kotak 811 Savings Account Online Zero Balance

• Step 1:

Visit the Android Play Store on your mobile phone. Download and install the Kotak Mobile Banking app. OR You can also visit the official website of Kotak Bank.

• Step 2:

Now the registration process to open a Kotak 811 account will start. You will be asked to enter your mobile number, email ID, and PIN code. Fill in the details and click on “Open Now“.

• Step 3:

Complete the initial registration by verifying your Aadhaar and PAN details and click on “Proceed to Verify”. Now a digital interface of your pan can card will pop up on your screen cross-check, and click on “Proceed”.

Note: (Address Error) During this step to open an online Kotak 811 Account few people might encounter an error if live in rural areas. Due to branch locations, try to change and add the pincode/or add the nearby branches’ pincode with the help of Google.

• Step 4:

Now an OTP(one-time password) will be sent to your registered aadhaar card number. Enter the OTP and proceed further to open your 811 zero account online.

• Step 5:

 

You can see the automatically fetched personal details from aadhaar. Now you have to proceed to enter all the required details in the profile form. Like occupation, yearly income, marital status, father’s name, Address, etc.

• Step 6:

After the above step, a foramalities/T&C window will appear. Select all the checkboxes and then click on “Proceed ToMPIN” to generate your 811 Kotak account MPIN.

 

• Step 7:

Set up a mobile banking PIN to secure your account.

• Step 8:

Finish the account opening process by completing Full Video KYC online, which may include providing additional identity and address proof, as per regulatory requirements.

• Step 9:

Once your KYC is verified, you can use your Kotak 811 Lite account immediately.

Fee and Charges Of Opening 811 Kotak Account Online

For a Kotak 811 Zero Balance Savings Account, here is a breakdown of the fees and charges:

Account Opening:

• Opening the account is free.

Non-Maintenance:

• There are no charges for non-maintenance of a minimum balance.

Average Monthly Balance:

• The required average monthly balance is zero.

Debit Card (Virtual):

• Virtual debit cards are provided for free.

Funds Transfer:

• NEFT (Nil Charges)
• RTGS (Nil Charges)
• IMPS (Through Internet & Mobile Banking)

Annual Fee:

• There is no annual fee.

Physical Debit Card:

• Physical debit cards have a fee of Rs.299.

Image Debit Card:

• There is a one-time image fee of Rs.235 and an annual fee of Rs.299, including all taxes.

Card Replacement Fee:

• The card replacement fee is Rs.299.

Foreign Exchange Mark-up Fee:

• A fee of 3.5% is applicable for foreign exchange mark-up.

ATM Charges (after free transactions):

• For Financial Transactions on domestic ATMs of other banks: Rs.21
• For Non-Financial Transactions on domestic ATMs of other banks: Rs.8.50

Things to Know While Opening Kotak 811 Zero Balance Savings Account

When opening a Kotak 811 Zero Balance Savings Account, here are some important things to keep in mind:

• No Minimum Balance Requirement: A zero-balance savings account has no minimum balance commitments, meaning you won’t face penalties for low balances.
• Online Account Opening: You can open a digital zero balance account online, from the comfort of your home, using your PAN and Aadhaar number.
• Interest Earnings: You can earn prevailing interest on the deposits in your zero-balance savings account, helping your money grow.
• Access to Banking Facilities: Enjoy the convenience of facilities like debit cards, checkbooks, internet banking, and mobile banking with your zero-balance account.
• Aadhaar OTP Verification: Open your zero balance savings account instantly through Aadhaar OTP verification. Afterward, complete the full KYC process within 180 days from account opening by visiting the nearest bank branch or booking an appointment.

Frequently Asked Questions

1. Can I open a zero-balance account online?

Yes, you can open a zero-balance account online easily, referring to the bank 811 Kotak Account.

2. I do not have a PAN. Can I still apply for a Kotak 811 account?

A PAN card is a compulsory document required to open a Kotak 811 savings account.

3. Does Kotak811 have a minimum balance?

Kotak811 savings account does not need any minimum balance as it is a zero-balance savings account.