Eligibility Criteria

  • Individual of age 18 years and above
  • Resident Indian



Check the fees and charges of the 811 Savings 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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