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Sunday, 19 September 2021

KOTAK 811 ACCOUNT, HIGHEST INTEREST PAYING DIGITAL ACCOUNT

KOTAK 811 ACCOUNT, HIGHEST INTEREST PAYING DIGITAL ACCOUNT

Now Send Your Money Worry Free With Kotak 811, Feel Safe with Your Online Fund Transfers. Enjoy Attractive Interest Rates With Kotak 811 & Get Upto 4%* Interest on Savings. Pay Your Favourite Way. Get 811 With No Paperwork. Savings A/C From Home.


KOTAK 811 ACCOUNT, HIGHEST INTEREST PAYING DIGITAL ACCOUNT

What are the features of Kotak 811?


Interest rate: Earn up to 4%* interest p.a. on your savings account balance.
No Minimum Balance: Enjoy banking with no balance commitment.
Virtual Debit Card: Shop online with ease using your virtual debit card.

What are the account features & conditions of 811 Account?

There are 3 types of account opened under 811. Below is the feature comparison table for these accounts:

what is Kotak 811?


Kotak 811 is a new age bank account offered by Kotak Mahindra Bank.


What are the features of Kotak 811?

811 is a fully loaded Digital Bank Account brought to you by Kotak Mahindra Bank. Below are the key features of your 811 account:









What are the account features & conditions of 811 Account?




There are 3 types of account opened under 811. Below is the feature comparison table for these accounts:



Features

Kotak811 OTP Based

Kotak811 Lite

Kotak811 Full KYC

Interest on Savings

Available*

No Interest

Available*

Cheque book

Not Available

Not Available

Available

Debit Card/Prepaid Card

Default Virtual Debit Card

(Physical card on request charges applicable as per GSFC)

Virtual Prepaid Card only for online shopping.

Default Virtual Debit Card

(Physical card on request charges applicable as per GSFC)

 

Account Restrictions

Kotak811 OTP Based

Kotak811 Lite

Kotak811 Full KYC

Total cumulative credits Allowed

Rs.2,00,000 in a year

Rs.10,000 in a calendar month & Rs 1,00,000 in a financial year

No restrictions

Maximum Balance allowed at any given point of time

Rs.1,00,000

Rs.10,000 in a calendar month

No restrictions

Time limit to complete your Full KYC

12 months

12 months

Not applicable





W.e.f. Jun 19, 2021, daily balances in Savings Account up to Rs. 1 lakh will continue to earn 3.50% p.a. interest. Interest rate of 4% p.a. will be applicable on daily balances in Savings Account over Rs. 1 lakh and up to Rs. 50 lakhs while interest rate on daily balances in Savings Account above Rs. 50 lakhs stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.

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.
Can I hold my account jointly with another applicant?

Unfortunately, the Kotak 811 account is intended for a single user only, and cannot be held jointly.



Can I save my application and continue it later

Yes, of course! All the information you’ve entered is regularly backed up to our servers. You may leave the app or close it at any point. When you return, you can resume from where you left off

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How do I start using the Mobile Banking App once my account is activated?

Once your account is active, you can log in to the Mobile Banking App by entering your CRN and the MPIN that you chose during the account opening process.