Frequently Asked Questions

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What is FASTag?

FASTag is a RFID enabled device that can be used to make electronic payments at tolls. It is affixed on the windscreen of the vehicle and enables you to pass through the toll without waiting and paying by cash.

Once, the tag is scanned, a prepaid account linked to the tag is automatically debited for the corresponding amount. The linked account can be topped up/recharged as required.
 

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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, PAN and other basic details. You can set up a mobile banking PIN and start using your account immediately.

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Can a subscriber open more than one NPS account?

No

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What is Ace Savings Account?

Ace Savings Account is a power packed savings account that gives you the additional advantage of banking and financial benefits for free.

Let Kotak Ace Savings Account take care of all your savings & investment requirements and ensure that you always get greater financial flexibility. With this exclusively designed savings account you get access to many premium services. So, make your money work harder by converting a part of your savings into fixed deposits or get add-on Debit Cards for your loved ones at no extra cost.

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What is the rate applicable on the savings account?

Following are the rates applicable for Kotak Mahindra Bank Savings Account:

  • Above 1 Lakh and up to 1 Crores the interest rate applicable is 6% p.a
  • Up to 1 Lakh, the interest rate applicable is 5.0% p.a
  • Above 1 Crores, the interest rate applicable is 5.5% p.a

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