Terms & Conditions for 811 account opening:

  • Any Resident Indian who is citizen of India as per FEMA guidelines & above 18 years provides his/her details in the application form for opening a Kotak811 account offered by Kotak Mahindra Bank Ltd (KMBL) is a Customer
  • By providing his/her details, customer agrees to the terms and conditions of the Bank as listed in http://www.kotak.com/terms-conditions.html
  • By sharing all the information, customer consents to provide his/her name, contact details and other information on an at will basis with Bank
  • Bank shall not be liable for any connectivity/ signal/ data issues leading to non-completion or wrong/false/incomplete information being provided by the customer leading to the incompletion of his/her application
  • The customer herewith agrees to provide his/ her Valid Aadhaar number voluntary (if customer wishes to open 811 limited KYC account)  and Valid Pan Card Number. He/she understands that opening an account is subject to correct, complete and accurate information is provided
  • Customer agrees that the name in the account will be the customer name as per his/her name mentioned on PAN Card
  • Application once submitted cannot be withdrawn by the customer. Bank shall not be liable to pay for any costs (technical/ data plan related or otherwise) incurred by the customer in the course of sharing his/her details on the application
  • The customer herewith agrees to provide the accurate documentation and information as listed in the application for the purpose of account opening. Customer understands and agrees that failure to provide requisite documentation and information shall result in rejection of application by the Bank. The customer agrees that Bank has every right to reject the account opening application, if there is any erroneous, incomplete or misleading information provided by the customer or for any other reason whatsoever with/without assigning any reason or if KYC documents submitted do not comply with the KYC norms of the Bank
  • This A/C opening process is not available for existing Kotak Bank customers who have a customer relationship number (CRN) with the bank
  • This A/C opening process is also not available for customers who are FATCA reportable. Such customers are requested to approach the branch and to comply with requirement of opening an account
  • Bank reserves the right to take necessary action, legal or otherwise, if it finds any wilful modification/ withholding of information or misrepresentation by the customer
  • Customers, who would like to deposit funds using the funding facility available while account opening, can do so only from their own bank account and not from a Third Party Bank account. Bank shall be at liberty to refuse to open the accounts funded from a Third Party Bank account at its sole discretion
  • Customer understands and agrees that interest on the amount funded online will be paid subject to activation of the account and only from the date when the funds has been credited into the account
  • The customer shall not enjoy the services provided by the bank unless the customer on-boarding process is complete
  • Customer declares and confirms that the Bank shall be entitled to rely on all/any communication, information and details provided on the electronic form and all such communications, information and details shall be final and legally binding on the Customer
  • Customer understands and confirms that the Bank has every right to close or debit freeze the account, if the details provided by him/her are found to be inaccurate, incorrect or false by the Bank or for any other reason whatsoever without assigning any reason thereof. In such an event the bank shall not be liable to pay any interest on the amount of deposit & the refund of amount deposited in the account will be refunded to the source account. In such an event, bank will retain the documents / Photographs (if any) and any other signed document submitted
  • This application is available for opening a savings account by Resident Indian Individuals only
  • The Bank reserves the right to cancel the Customer Reference Number (CRN) and Account Number (A/C) allotted to the customer, if the customer does not complete the verification process within the allotted time
  • The Bank reserves the right to hold the accounts in Debit Freeze or close the Account even after account activation in case of any discrepancy found as part of regular monitoring and document verification activities
  • The customer agrees to provide the necessary details (Mobile, Email etc.,) as per his requirement at the time of submission of details through the application. Bank shall not bear any liability for any loss arising out of customer’s failure to do so
  • The customer herewith agrees to be contacted by the bank to receive information in respect of account maintenance, alerts, payments due, updates on existing and new products, servicing of account for sales, marketing or servicing their relationship with KMBL, its group companies/associates or agents through Telephone/Mobile/SMS/Email etc. Further he/she understands that the consent to receive calls/communications shall be valid and shall prevail over their current or any subsequent registration of their mobile number for NDNC and shall continue to be treated as customer consent/acceptance
  • The customer authorizes Bank to share his/her mobile number and address with the respective mobile operator to verify customer's address at any point of time
  • KMBL is not offering 811 Digital Accounts to certain set of customers (persons operating with thumb impression, sick /incapacitated customers or any other persons which the bank feels that may require additional controls / diligence to safeguard Bank / Customer interest). Customer may visit our Branch to select other products available. If it is detected that the said persons have opened the 811 Digital Accounts, Bank reserves the right to offer another account and close this 811 Digital account
  • In terms of RBI Circular DBR.No.BP.BC.104 /08.13.102/2017-18 dated 6th April 2018, customer understands that Reserve Bank of India has prohibited that Bank shall not deal in any type of Crypto / Virtual Currencies (VCs) or provide services for facilitating anybody in dealing with or settling of VCs including transfer / receipt of money in accounts relating to purchase / sale of VCs. Customer hereby declares that he/she will not deal with any transactions in his/her account, relating to any type of VCs including Bitcoins. He/She also understands and agrees that the Bank reserves all right to close his/her account immediately without any further intimation in case he/she is found to undertake such transactions
  • The customer herewith agrees that if the application is rejected, Bank will retain the documents / Photographs and any other signed document submitted by the customer on the application or otherwise
  • Customer confirm to have read, understood and will be bound to/ abide by the Terms and Conditions of account opening and the general terms applicable to account as available on Bank’s website at www.kotak.com. Once an account is opened, the terms and conditions listed as under shall also apply, as per the product selected by the customer


T&Cs for Kotak 811 – for Limited KYC accounts opened through OTP based Aadhaar authentication:

  • The customer herewith confirms that he/she has not used the OTP based AADHAAR (e-KYC) verification to open any other bank account
  • If opened through UIDAI based OTP, it will be a limited KYC account, in which you cannot have a credit balance of more than 1 Lakh. Your overall cumulative deposit in such an account cannot exceed 2 Lakhs in a F.Y., unless you complete the full KYC process
  • Customer opening Limited KYC  account gives consent to the Bank to fetch his/her demographic details from Unique Identification Authority of India (UIDAI), using biometric authentication which will be used for KYC purposes. The demographic details include name, DOB, gender, address and photograph
  • Customer authorizes KMBL to use his/her Aadhaar details and core biometric information to authenticate and verify his/her identity. Customer hereby gives his/her free consent to link his/her Aadhaar Number to all his/her existing bank accounts and customer profile for the purpose of availing the Banking Services for operations of account
  • If the customer provides incorrect details regarding his account seeded with Aadhaar for receiving Direct Benefit Transfer , he/she understands and agrees that bank reserves the right to not seed his/her account for DBT. In these cases, Bank shall not be held liable for not seeding the account for DBT and any issue arising.
  • The customer herewith agrees to complete his full KYC by visiting his nearest Kotak Bank branch/ by requesting a visit from the bank representative and providing his biometric details within 12 months of opening such account
  • The Limited KYCA/c opening process is unavailable to customers whose address fetched from UIDAI is deemed incomplete by the bank
  • The customer agrees that failure to complete full KYC within 12 months will lead to his account being closed by the bank. He can proceed to withdraw funds/ use his account for any transaction only upon completion of full KYC
  • The customer agrees that if her/ his balance in the limited KYC account exceeds 1 Lakh in a given day or overall cumulative deposit exceeds 2 Lakhs in a F.Y., bank reserves the right to put the account on a total freeze, till such time that customer completes the full KYC process
  • In case of account being put under total freeze, the customer agrees that principal amount on such deposits kept along with the interest accrued (if any) will be payable to him only upon completing his full KYC
  • The customer agrees to the issuance of a Virtual Debit Card linked to Kotak 811 Account with international usage enabled by default. Customer understands that this feature can be disabled (if required) via Mobile Banking App
  • The customer will not be eligible to get a Cheque book for this account
  • The customer agrees that he/she will not be able to get the following services from the bank:
    • Cash withdrawal at branch
    • FCY – DD
    • Cheque withdrawal
    • Investment account
    • TD/RD
    • TOD
    • Activ Money
    • Investment in IPO
  • The customer agrees that such an account will be subject to regular scrutiny and monitoring from the bank and bank shall reserve the right to completely freeze/debit freeze/ close the account at its sole discretion
  • If Customer fails to provide full KYC for any reason, customer understand and agree that the bank reserves right to close the account and customer will have to contact the branch withdrawing any leftover amount in his/her account


Following savings Bank rules are also be applicable for Limited KYC accounts opened through OTP based Aadhaar authentication:

  • Interest rates on Savings Account have been de-regularized by RBI. The rate may vary from time to time and will be calculated on Daily Product basis on clear balance. The interest on savings accounts will be credited at quarterly intervals or as prescribed by Reserve Bank of India from time to time
  • The Savings Bank Account should be used to route transactions of only non-business/ non-commercial nature. In the event of occurrence of such transactions or any such transactions that may be construed as commercial/ business/ dubious or undesirable, the Bank reserves the right to unilaterally freeze operations in such accounts and/ or close the account. The number of permissible deposit and withdrawal transactions without any charges are available in GSFC
  • Computation of AMB / AQB is the summation of end of day balances for the period (month / quarter) / no. of days of the said period (month/quarter). Refer GSFC for details on Non - Maintenance charges
  • Relationship Value (RV) is a combination of the Average balance across all accounts maintained with the Bank and Investments in MF & Insurance routed through the Bank
  • Nomination Facility is available for all types of individual deposit accounts
  • Cash Deposit facility is provided at both home & non-home branches. Charges applicable on non-home branches cash deposit is available in GSFC. Cash can also be deposited in Cash Deposit Machines (wherever available)
  • Bank Customers can avail the facility of Cash Withdrawal through Cash Withdrawal Slip as per limit prescribed by the Bank from time to time by visiting any Bank Branch in person. There is no requirement of submitting passbook while withdrawal of cash through withdrawal slips
  • SMS Banking and Alert Facility is available to all account holders for all products. Refer to GSFC for charges applicable
  • Bank extends passbook facility on Savings Bank Accounts. Bank provides monthly statement of customer Bank account free of cost on customer visiting the Branch personally. Quarterly physical statements will be issued by default to all Passbook Customers. Charges for issuance of Duplicate passbook /statement are available in GSFC. Duplicate passbook, if requested for, canbe printed for the period as requested while issuing the passbook. There are no charges for printing the past entries in the duplicate passbook
  • In case of the Entity accepting / receiving any Foreign Contributions , customers need to comply to Foreign Exchange Management Act of 1999 (FEMA)
  • Customer should carefully examine the entries made in their Statement of Account/s/ Passbook and draw Bank’s attention to any errors/omissions/ discrepancies that may be discovered within 30 days from the date of entries falling which the same shall be deemed to be correct and accepted by the customer and the customer shall not be entitled to question the correctness/ accuracy thereof
  • Accounts which have not been operated over a period of one year and two years are termed as inoperative and dormant account respectively. Accounts which are not operated for Ten years will be marked as “Unclaimed”. A request for activation of account has to be made by the customer in writing by visiting our nearest branch with his original identity proof documents acceptable to the Bank. There are no charges on activation of such accounts
  • The request for Transfer of Account from one Branch to other can be submitted at any of the Branch. Charges with regards to Closure of Account are specified in GSFC. There are no charges for Transfer of Account between Branches
  • Charges for issuance of Cheque book & Cheque Return charges are available in GSFC
  • Registration of Standing Instructions / Direct Debits can be done by giving a request at any Branch. Charges as specified in GSFC will be levied for non-execution of Standing Instructions / Direct Debits
  • Satisfactory Conduct of the account entails maintaining stipulated average balance (wherever applicable) and there are no Cheque / standing instruction bounces. If there are high incidences to the contrary, the Bank reserves the right to close the Account under intimation to the customer. Any non-maintenance of stipulated minimum balance will attract service charge as per Bank’s journal schedule of Features and Charges which are available with our Branches and on the Bank’s website www.kotak.com
  • The Bank reserves its right to close any account which is not operated satisfactorily/dormant with prior notice
  • The customer needs to intimate Bank in writing of any change in the contact details/address. Customer needs to submit documentary proof wherever applicable
  • The age considered for minor is below 18 years and for senior citizen as 60 years and above
  • The Bank may disclose information about customer’s account if required or permitted by any law/rule or regulations or at the request of any public or regulatory authority or if such disclosure is required for the purposes of preventing fraud without any specific consent of the customer
  • Copies of Citizens Charter, BCSBI Code, Customer Education Brochure, General Terms and Conditions which govern the conduct of Savings Bank Account are available in the Branch and on the website www.kotak.com. For any information or changes in Bank’s Policies, interest rates, service charges, etc., applicable to your account, refer to notices displayed in the customer area of the Branch
  • The Bank will give a prior intimation of 30 days for any change in T&Cs / increase in fees & charges
  • Mere deposit of an amount for opening an account does not mean that the Bank has opened the Account. The account opening cannot be deemed to come into existence until the Bank gives theintending customer a Welcome Kit containing Account Number, Cheque Book, Debit Card etc. the Bank reserves the right to make any changes, alterations, cancellations in the above rules at any time without notice. Any person opening the account shall be bound by the rules governing the account
  • Bank Deposits up to Rs.1,00,000 in respect of each depositor are fully protected by the Deposit Insurance and Credit Guarantee Corporation under the deposit Insurance Scheme
  • The Bank reserves the right to make any changes, alterations, cancellations, in the above rules at any time without notice. Any person opening the account shall be bound by the rules governing the account


T&Cs for Kotak 811 Lite – for accounts opened without OTP based Aadhaar authentication:

  • Customer understand that this account is a Zero interest bearing Mobile Account in which the credit balance cannot be more than 10,000/- in a calendar month, and the aggregate of all credits in the account in a financial year should not exceed Rs. 1,00,000/- unless in-person full KYC process is completed. Any credit exceeding the limits stated above will not be accepted into the account unless full KYC process is completed
  • The customer herewith agrees to complete his in-personfull KYC by submitting his details to the bank representative visiting him within 12 months of opening Kotak 811 Lite account
  • The customer agrees that failure to complete full KYC within 12 months of opening Kotak 811 Lite account will lead to credit freeze in the account. No further credits will be allowed in the account for the customer, however customer can utilize the existing funds in the account
  • The customer agrees that if his/her balance in the Kotak 811 Lite account exceeds Rs 10,000/- at any given time, bank reserves the right to put the account on a total freeze, till such time that customer completes the in-person full KYC process
  • The customer agrees that in the event of a total freeze, principal amount on such deposits will be payable to him only upon completing his in-person full KYC
  • The customer will not be eligible to get a Cheque book and any debit card for the Kotak 811 Lite - account
  • The customer agrees to the issuance of a Virtual Prepaid Card linked to Kotak 811 Lite Account Customer understands and agrees that this card will be blocked once customer has completed his/her Full KYC and a new virtual debit card will be issued to the customer subsequently
  • The customer agrees that in a mobile account, he/she will not be able to get the following services from the bank:
    • Cash withdrawal at branch
    • DD/Pay order
    • FCY – DD
    • Cheque deposit at branch/CDM
    • Cheque withdrawal
    • Investment account
    • TD/RD
    • TOD
    • Activ Money
    • Investment in IPO
    • Outward Funds transfer
  • The customer agrees that account will be subject to regular scrutiny and monitoring from the bank and bank shall reserve the right to completely freeze/debit freeze/ close the account at its sole discretion
  • If Customer fails to provide full KYC for any reason, customer understand and agree that the bank reserves right to close the account and customer will have to contact the branch withdrawing any leftover amount in his/her account
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Frequently Asked Questions

What is Kotak 811?

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

You can open a Kotak 811 account by downloading the Kotak Mobile Banking App or by visiting www.kotak.com and registering using your Aadhaar number (optional) ,PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.

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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: 

  • Interest rate: Earn up to 6%* 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
  • Free funds transfer: Transfer funds online for free using NEFT or IMPS or RTGS
  • Physical Debit card: Request a physical card through Net-banking or Mobile Banking App and get it for Rs.199+applicable GST per annum

W.e.f. June 14, 2019, earn 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs 1 cr. Earn 4.0% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 1 cr. Applicable for Resident Accounts only. If you have opened 811 Lite account as you didn’t want to use your Aadhaar or 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.

 

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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. June 14, 2019, earn 6% p.a. interest on savings account balance over Rs. 1 lakh and up to Rs 1 cr. Earn 4.0% p.a. interest on savings account balance up to Rs. 1 lakh and 5.5% p.a. interest on savings account balance above Rs. 1 cr. Applicable for Resident Accounts only.

 

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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.

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I got disconnected from the Kotak Mobile Banking App. How can I continue my application?

Don’t worry; we regularly back up all the information that you’ve entered. Please reopen the app, and you will be able to continue from where you left off.

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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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Is my information secure?

The security of your personal information and your online banking transactions is of utmost importance to us. We maintain strict security standards to prevent unauthorized access to your information.

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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.

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

Unfortunately, we need your PAN to open your 811 account. If you don’t have PAN, you can apply for one using the following link and visit us again. You will be directed to a third party website once you click the link below.

I do not have an Aadhaar number. Can I still apply for a Kotak 811 account?

Yes,  you can open 811 Lite account by providing your PAN and few other details.

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What is a Kotak 811 Edge account and how do I apply for it?

Kotak 811 Edge is a savings account which brings you the best of Kotak 811 and our regular accounts. This account requires a minimum balance of Rs. 10,000. 

Kotak 811 Edge comes with a Platinum Chip Debit Card, high free transaction limits, free transactions on all Kotak ATMs and many more perks. If you already have an 811 account, you can upgrade to 811 Edge once you’ve verified your KYC details with us. Alternatively, if you don’t have an account yet, you can visit www.kotak.com and get started.

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What is a FATCA declaration and why do I need to make one?

FATCA stands for the Foreign Account Tax Compliance Act. The RBI requires us to collect a FATCA declaration from every customer who opens a savings bank account with us.  

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Why do I need to add a nominee to my account?

Adding a nominee to your account is the smart thing to do. In the unfortunate event of an accident or untimely death, the funds in your account will be transferred to your nominee quickly and easily.

You don’t have to add a nominee if you don’t want to – Simply select the ‘I don’t wish to add a nominee’ option while you open your Kotak 811 account. You can always change your mind and nominate an individual at a later date.

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What will be the fees & charges for 811 account?

811 is free for use in the digital world. This means -

  • We won’t charge you any minimum balance fees
  • We will give you a virtual debit card for free
  • We won’t charge you for any fund transfers done via our app or Net Banking

If you select one of our additional services, such as a physical debit card or a cheque book*, there may be additional charges. For detailed features and charges, please check here

* Cheque book charges are applicable only to Full KYC customers 
** Not available for 811 Lite customers

 

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How can I withdraw cash through my 811 account?

You can use your physical debit card to withdraw cash through an ATM. If you’ve met us to verify your identity details, you can also visit a branch to withdraw cash.

The physical Debit Card will be charged at Rs. 199 + taxes per year. You’ll need to have sufficient balance in your account to order one.

In order to verify your details, you can either book an appointment through Mobile Banking App or Call our customer care on 1860 266 0811* and schedule your appointment. One of our executives will visit you to complete the in-person KYC verification. (*Local charges apply)

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How can I start a Recurring Deposit/Term Deposit?

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.

*Local call rates apply.

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How can I use Scan & Pay feature inside the Mobile Banking App?

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.

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What is a Virtual Debit Card? How do I use it?

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.

If you need to check your card details - card number, expiry date or CVV - it’s easy; just log in to your Mobile Banking App after opening your Kotak 811 account and click on the 811 widget.

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Can I have a physical Debit Card? How do I apply for one?

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.

The physical Debit Card will be charged at Rs. 199 + taxes per year. You’ll need to have sufficient balance in your account to order one.
Once you’ve requested a physical Debit Card, we’ll charge the card fees to your account and your card will be delivered to you within 7-10 working days at the communication address you’ve registered with us.
811 physical debit card is not given to 811 Lite customers. 811 Lite customers are issued a virtual debit card once the full KYC for the account is completed. After the virtual debit card is issued, customers can follow the process mentioned above to get the physical card.

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How do I view my Virtual Debit Card in the Mobile Banking App?

You can log in to the Mobile Banking App using your CRN and MPIN. Once you’ve logged in, click on the 811 widget and navigate to “Virtual Debit card” tab to see the details. 

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When will I receive my Virtual Debit Card?

You’ll get your Virtual Debit Card number the moment you’ve finished opening your account. 

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It’s been 10 days and I haven’t received my welcome kit. What do I do?

Kotak 811 is a digital savings account and doesn’t come with a physical welcome kit. If you’ve  placed a request for a physical Debit Card and have not received it within 10 working days, please call us @ 1860 266 0811* and we’ll look into it right away. We’re really sorry about the delay.

*Local call rates apply.

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When will I receive a cheque book* for my 811 account?

Your 811 account is a digital savings account, and doesn’t come with a chequebook by default. If you’d like a cheque book, you can request one through the service request section of the Mobile Banking app. 

It will be charged according to our General Schedule of Features and Charges, and we require you to complete your KYC formalities before it can be issued.
*Chequebook is only available to Full KYC customers

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How can I deposit money into my Kotak 811 account?

You can deposit money via a payment gateway using your Debit Card or Net Banking of another bank This option is available just after the account activation screen as well as on the 811 page in the Kotak Mobile Banking App.

You can also transfer money from another account through NEFT/IMPS/UPI* at any point of time. Alternatively, you can visit your nearest Kotak Mahindra Bank branch to deposit cash.
*Not applicable for 811 Lite accounts

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How much money can I deposit into my 811 account?

This depends on the type of account that you have. In case you have opened 811 by verifying your Aadhaar through an OTP from UIDAI, then the maximum amount you can have in this account at any given point of time is Rs. 1 Lakh. You can have a cumulative credit of maximum of Rs. 2 Lakhs in this account in a Financial Year. In case you hold 811 Lite account then balance at any point cannot exceed Rs. 10,000 and transactions of up to Rs. 10,000 are only allowed in a month. The cumulative credits in this account should not exceed Rs. 1 lakh in a financial year.

To remove these restrictions, you’ll need to verify your KYC details within a year, to convert it to a Full KYC Account. Converting to a Full KYC account will lift all your transaction limits. This is a 5 minute, quick and easy process that we’ll be happy to help you with.  

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I tried to deposit money into my Kotak 811 account. My bank has debited the money from my account but your app says my transaction has failed. What do I do?

Please don’t worry. The full amount will be credited back into your source bank account within 7 to 10 working days. If you need to check on the reversal with us, please contact us with the transaction reference number. In the meantime, please do try to make the transfer again. We’re really sorry about the inconvenience.

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When will the funds I transferred be available in my account?

If you’ve used a payment gateway to deposit money into your account, you will see the funds in your account within two hours subject to activation of your account and we receiving successful response from the payment aggregator. In few cases, it may take up to 2 working days to credit money into your account. If the funding was successful and you haven’t received your money within two working days, please get in touch with us with the transaction reference number.

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What is UPI? How do I use it?

UPI stands for Unified Payment Interface. It is a payment method that lets you transfer money instantly, 

even between banks. You will need to enter the virtual payment address(VPA) of the bank account from which you’d like to transfer funds into your Kotak 811 account. This will create a collect request which you will need to authenticate using your UPI PIN. You unique VPA will be <MobileNumber>@Kotak’ and it is created by default during 811 account opening. For e.g. A customer’s mobile number registered with the banking during 811 account opening is 99876543210, then the default VPA is going to be: 9876543210@kotak.
(UPI transfers are not available to 811 Lite customers)

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What is VPA and how can I use it to make payments?

VPA is a Virtual Payment Address that lets you make and receive UPI payments. Think of your VPA as your banking email address. You can send money to, or request money from anyone, with just their VPA. It’s instant, free, and it doesn’t matter which bank they use.

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What is Kotak 811 Lite?

You can get an 811 Lite account in either of the below cases

  • You do not want to use Aadhaar for opening your account
  • You did not receive OTP on your Aadhaar registered no. or do not have mobile no. registered with Aadhaar

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 Full 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 in-person 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. 

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Are there any restrictions on the transactions allowed for Kotak 811 Lite?

You can deposit up to Rs. 10,000 per calendar month to your 811 Lite account, and hold up to Rs. 10,000 in it at a time. The aggregate of all credits in the account in a financial year should not exceed Rs. 1,00,000/- , unless in-person full KYC process is completed.  You won’t be able to have a Virtual Debit Card. In case full KYC is not completed within 12 months from the date of account opening no more credits will be permitted.

Lifting these restrictions is easy! Just schedule an appointment so one of our representatives can visit you to complete your Full KYC.

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How do I upgrade to a regular Kotak 811 account?

In order to upgrade to a regular Kotak 811 account, you will need to verify your Full KYC details. You can either book an appointment through Mobile Banking App or Call our customer care on 1860 266 0811* and schedule your appointment. One of our executives will visit you to complete the Full KYC verification.(*Local charges apply). 

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What are the features of the Kotak 811 Lite account?

Your 811 Lite account can be used to shop using Kotak’s KayMall, recharge and make bill payments online, all from within our app.

811 also brings you a Virtual Prepaid Card, linked to your 811 Lite Account. 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 811 account and click on 811 widget.

Transaction limit of INR 10,000 and re-load limit of INR 10,000 per month and 100,000 per year will be applicable on your 811 Lite Account as well as your Virtual Prepaid Card.

The account doesn’t pay interest, and doesn’t come with a cheque book. You can deposit money to your account online via a payment gateway.

We’ve done everything we can to let you transact on your mobile, totally cash-free. We hope you enjoy the experience.

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What happens to my Virtual Prepaid Card after I complete Full KYC for my 811 Lite account?

Your 811 Virtual Prepaid Card will be blocked and replaced by a new Virtual Debit Card once you complete your Full KYC. The new Virtual debit card will come with higher transaction limits and you will also get an option to request for a physical card for ATM withdrawals and offline POS transactions. You can access your Virtual Debit Card from the same 811 widget present in the Mobile Banking App post login.

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Are there any limitations of this account?

This account is a zero interest account which does not comes with acheque book. You cannot use Net Banking and will only be able transact using Kotak Mobile Banking App or Virtual Prepaid Card for your transactions. You can only deposit money in to you Kotak 811 Lite account through payment gateway transactions or via IMPS/NEFT from other Bank. Please refer to the detailed charges on this account in our features and charges section.

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How do I book an appointment to convert my Kotak 811 Lite account to a full-fledged Kotak 811 savings account?

In order to upgrade to a regular Kotak 811 account, you will need to verify your details. 

You can either book an appointment through Mobile Banking App or Call our customer care on 1860 266 0811* and schedule your appointment.
One of our executives will visit you to complete the in-person KYC verification.
(*Local charges apply)

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How can I convert my account to Full KYC Account?

In order to upgrade to a regular Kotak 811 account, you will need to verify your details. You can either book an appointment through Mobile Banking App or Call our customer care on 1860 266 0811* and schedule your appointment.
One of our executives will visit you to complete the in-person KYC verification- 
(*Local charges apply)

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Will I receive a confirmation call about my appointment?

One of our customer executives will call you to confirm the time of visit and your address of visit.

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Can I reschedule the appointment?

One of our agents will call you to confirm your appointment details. If you need to, you can request that your appointment be rescheduled. 

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Your customer executive missed my appointment. What do I do?

We’re really sorry about the inconvenience. We’ll speak to our executive to figure out why this happened.

One of our agents will call you back to reschedule an appointment. If you’d like to contact us before that, then please call us @ 1860 266 0811*

*Local call rates apply

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Could you explain the verification process to me?

Our customer executive will verify your details with your original PAN & address proof. We’’ll need a few more details from you.

Once this has been done, your account will be upgraded to a Full KYC account.

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Do I need to carry my Aadhaar card, PAN card or any other documents?

You need to carry your PAN and an address proof

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I cannot meet your customer executive in person. Can I still open an 811 account with you?

You would need to complete your in-person KYC verification to enjoy all benefits of your 811 Digital Bank account.

We therefore request you to choose a time and date convenient to you, so we can finish this process quickly and easily.

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What is an MPIN and why do I need to set one?

An MPIN is a Mobile Banking Personal Identification Number. You will need your MPIN to login to the Mobile Banking App to transact and access your Virtual Debit/Prepaid Card details whenever you need them.

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How do I create my MPIN?

When you use the Kotak app to create an 811 account, you’ll be able to create a 6-digit MPIN of your choice during the account opening process.

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What if I forget the MPIN? How can I create again?

Don’t worry! You can visit the Kotak Mobile Banking App and click on Forgot Password. Visit the Personal details tab and provide your details. You can then reset your MPIN.

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How do I create a PIN for my Virtual Debit Card?

You’ll need to log in to the Mobile Banking App and click on ‘Service Requests’. Under the Debit Card section, you’ll see an option to generate your PIN.
* - Unfortunately, we can’t offer Virtual Debit Card to Kotak 811 Lite customers. 

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How do I set password for my Net Banking*?

You can use your Virtual Debit Card credentials to register for Net Banking. You’ll need your card number, expiry date, CVV and PIN.

* - Unfortunately, we can’t offer Net Banking to Kotak 811 Lite customers. To use our Net Banking services, please upgrade to a full-service 811 account by verifying your KYC details.

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Does my 811 Lite/ 811 Limited KYC account have a validity?

As per RBI guidelines, your Kotak 811 Lite/ limited KYC Account has a validity of 1 year, if the KYC formalities are not completed before the completion of 1 year. If you haven’t completed these formalities, your account will lapse/need to be closed at the end of a year (Year is calculated from the date of opening of the 811 Lite, 811 Limited KYC account).

811 Limited KYC Account: Refer to the RBI guidelines released on 8th Dec, 2016: Link
811 Lite Account: Refer to the updated RBI guidelines released on 11th Oct 2017: Link

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How can account closure be avoided and I can continue to operate the account?

It’s easy. All you need to do is schedule an appointment to meet us once to complete your KYC formalities. One of our bank representatives will visit you at your preferred location. It will just take a few minutes to complete your KYC formalities and you can continue to enjoy uninterrupted banking on your 811 account.  

To schedule an appointment, call our customer care on 1860 266 0811 (local charges apply) or visit the 811 section of your Mobile Banking App. 

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If I haven’t completed my Full KYC, what happens to the account after a year?

811 Limited KYC Account: Since a Kotak 811 Limited KYC account is only valid for 1 year,

  • For account with no balance on due date - account will be automatically closed after the year is complete
  • For account with balance - You need to provide us the account details to which the balance needs to be transferred 7 days prior to the completion of the validity of 1 year.

Important: In case you have not provided bank details for transferring the balance in the account, on the due date for account closure, we will be marking total freeze in your account.  

811 Lite Account: Since a Kotak 811 Lite account is only valid for 1 year, your account will be automatically closed after the year is complete. If you have any balance in your account, credit freeze will be placed on the account and you will be allowed to only utilise the balance funds in the account. 

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In case of account closure, how will the balance of my 811 account be remitted to me?

811 Limited KYC Account
We will, be able to transfer your money to you quickly and easily. You’ll need to give us your other bank account details by visiting https://mao.kotak.com/accountclosure/account/

Once the details are successfully entered, your account balance will be transferred to your account of choice within 7-10 working days.

 

In case of failure to provide the bank details, total freeze will be marked on your account, and you will not be able to access it at a branch or ATM.  Post total freeze you can still access the above mentioned link and provide your bank account details.

811 Lite Account: The balance in the 811 Lite account can be utilised however you will not be able to top up the balance in the account – there will be a credit freeze in the account. 

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Once my 811 account is closed, can I re-apply for another 811 account?

Unfortunately, once your 811 account is closed, you won’t be able to reactivate it or open a new 811 account. We are keen to have you as a customer again and you can walk-in to our branch or request our Bank representative to visit you and help you with starting the relationship again with Kotak Mahindra Bank.

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My question isn’t listed here

If you have any other questions speak with any of our bank representatives for assistance. You can reach our customer care centre on 1860 266 0811 (Local charges applicable). 

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