Banks and financial institutions are working to provide services which are convenient and can be operated from anywhere. Online account opening is the way ahead, where we customers have the liberty to open a bank account from the comforts of our location, without the need to visit banks.

 Gone are those days of standing in queues, physically submitting KYC documents, and being bound to the bank’s operating hours? Now, a bank account online is what every individual is seeking.

 Key features of Online Savings Account

 Ease of access – You can operate online savings accounts from anywhere, such an account is accessible through web or mobile app. It is also easy to carry out transactions or check account updates anytime. The bank is readily available to resolve your queries. No need to visit a branch is a big step towards saving customers time and energy.

 The digitization drive has made life easier, as we can go cashless and still receive or transfer money from anywhere using a bank app.

 Kotak811 facilitates zero balance savings account, where customers don’t have to pay any maintenance charge to open or maintain an online savings account with the bank. 


Online savings accounts are safe and reliable. Customer data is encrypted and has to pass through multiple layers of security. It is difficult to breach an online savings account. Every transaction is secure and under control.

Security is the foremost thing for banks and financial institutions. Account login is done via OTP verification and account details are registered with customer specific devices. So that, unidentified login attempts from unknown devices can be avoided.


Online savings accounts are loaded with features ranging from zero balance account, free debit card and more. Banks pay interest on the amount maintained in the savings account. The rate of interest is subject to change as per market rates. Another key feature is the time factor; you can open an online savings account in just minutes.

Kotak811, offers free virtual debit card and Kotak811 #dreamdifferent lifetime free credit card (as per eligibility) when you opt for a zero balance savings account. You can also book a Fixed Deposit or Recurring Deposit using the 811 savings account. Apart from regular offers, there are offers on ecommerce site, fuel surcharge, Fastag, etc.

Additional Read: Online Banking Frauds: Understand How You Can Keep Your Money in Your Savings Account Safe

Final thoughts

Online savings accounts are convenient to deal with and offer features and services tailored as per customer requirement. You can operate your online account like a physical account and enjoy additional features that are subjective to online savings accounts only.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.