Features of the 811 Digital Bank Account

Welcome to the future of mobile banking! The Kotak 811 bank account packages the entire digital banking ecosystem into your smartphone. Get best deals on shopping, travel, entertainment and meet all your banking/investment needs on the move with just a few clicks on Kotak Mahindra mobile app. 

 

Instant Account Opening

No visiting any bank branch or leaving your home. Just open your Kotak 811 account on smartphone or through a browser in an instant and quickly log in to the world of seamless digital banking.

 

No minimum balance commitment

Worried about paying charges for low balance in your account? Now enjoy no minimum balance commitment on your Kotak 811 bank account and experience true financial freedom.

 

Up to 6%* Interest Rate per annum - The Best in the Market

Earn up to 6%* interest annually on your account balance and let your bank account earn more money while you work or play!

 

ActivMoney## Auto Sweep in Facility

Want to earn higher interest of a fixed deposit (FD)? Set your sweep-in and sweep-out limit and see your funds being converted into an FD immediately. 

  • Avail higher interest rate through funds converted into Fixed Deposit. For details of the fixed deposit interest rate, click here.
  • Eliminate the need to track your funds regularly and give instructions to the Bank for Fixed Deposit creation
  • Greater flexibility and liquidity as the funds flow back into your savings account when required

 To enable ActivMoney for your 811 account, visit your nearest branch or call our call centre at 1860 266 0811**

 

Banking solutions at a single touch

Now you can open your investment account or book TD /RD in a single click from 811 Mobile banking app. You can also request for Chequebook, transfer funds or walk into a branch for cash transactions and enjoy many more benefits of a savings account^^

 

Virtual Debit Card

The Debit Card is no more plastic with 811. It's a Virtual Debit Card, shrunk to fit in your mobile. Check the card details within the safety of your app and use it to make online payments like Shopping, paying bills or recharging mobile / DTH, in few taps.

 

Scan and Pay***

You don’t need cash or cards to make payments. Now paying has become simpler with the Scan & Pay feature. With this pay for all you’re shopping, movies, groceries, and much more

 

Shop, Travel, and More^

No need for multiple apps on your phone when you have the Kotak Mobile Banking App. Go to the Kaymall section  shop on Flipkart, subscribe to national/international magazines, book your flight and hotels on Goibibo or  train tickets^ on  IRCTC  at the best rates all with your Kotak 811 account. 

You can now open Kotak 811 account by downloading the Kotak mobile banking app or just click here and open account instantly.



Know more about the variants of 811 Savings Account.
Know more about the how to login to 811 Savings Account
Know more about the 811 zero balance savings account

Disclaimer

Customers who have opened JifiNeo will now enjoy Kotak 811

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.

^^Features mentioned are available only to customers who have completed their full KYC

**Kindly call on our new number: 1860 266 0811, for any queries or issues between 9.30am to 6.30pm, Monday to Saturday (except holidays). Local charges apply.

***Scan and Pay at selected in store outlets

^Terms and conditions apply

##This Feature is only available for 811 Full KYC customers. By signing up for this feature, customer agrees to the following Terms & Conditions:

  • ActivMoney (Auto Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from your 811 Savings Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in the account, the TD will be broken prematurely and the required amount will be transferred to the Account.
  • Default Sweep Out and Sweep In limit are the minimum pre-specified thresholds and one will not be able to opt for limits lower than these. For 811 Full KYC Savings Account the fixed deposit will be made or broken in multiples of Rs.2000/- and the default sweep out and sweep in limits are Rs. 20,000 and Rs. 10,000/- respectively.
  • The nomination registered for Saving Account will apply for the FDs created through ActivMoney. If customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and conditions guiding the fixed deposit will be applicable to fixed deposits booked under ActivMoney.
  • Bank may at its absolute discretion, discontinue / suspend any of the services completely or partially with or without any notice to me.
  • In case 811 Full KYC customers enabled with ActivMoney facility upgrades to a different product variant, the ActivMoney functionality will be disabled and a fresh request will be required by the customer to renew the same.
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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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