Join the Digital Revolution with Kotak Mahindra Bank 811 – Open Your Account Today!

Kotak Mahindra Bank 811 is a digital savings account that was launched by Kotak Mahindra Bank in 2017. It is a zero-balance account that offers a range of features and benefits to customers, including attractive interest rates, free online fund transfers, and a virtual debit card. In this article, we will discuss the features, benefits, and fees associated with Kotak Mahindra Bank 811.

Features of Kotak Mahindra Bank 811:

1. Zero Balance Account: Kotak Mahindra Bank 811 is a zero-balance account, which means that customers do not need to maintain a minimum balance in the account.
2. Virtual Debit Card: Customers can access a virtual debit card through the Kotak Mahindra Bank app. This card can be used to make online transactions and also supports contactless payments.
3. Free Fund Transfers: Customers can transfer funds to other bank accounts using NEFT, RTGS, or IMPS without any fees.
4. Interest Rates: Kotak Mahindra Bank 811 offers attractive interest rates on savings accounts, starting from 3.50% p.a.
5. Easy Account Opening: Customers can open a Kotak Mahindra Bank 811 account online through the bank’s website or mobile app. The process is simple and requires minimal documentation.

Benefits of Kotak Mahindra Bank 811:

1. Convenience: Kotak Mahindra Bank 811 provides customers with the convenience of banking from anywhere, anytime through the mobile app.
2. Savings Account: The account provides customers with a savings account that offers competitive interest rates.
3. Free Insurance: Customers are eligible for a free personal accident insurance cover of up to Rs. 1 lakh.
4. No Maintenance Charges: There are no maintenance charges associated with the account.
5. Overdraft Facility: Customers can avail of an overdraft facility on their Kotak Mahindra Bank 811 account.

Fees and Charges:

1. Account Opening: The account opening process is free of cost.
2. Debit Card: There is no annual fee associated with the virtual debit card provided with the account.
3. Fund Transfer: Customers can transfer funds to other bank accounts using NEFT, RTGS, or IMPS without any fees.
4. Overdraft Facility: Interest rates for the overdraft facility start from 10.50% p.a.

Comparison of Kotak Mahindra Bank 811 with other savings accounts

Kotak Mahindra Bank 811 Swift Code

The SWIFT code for Kotak Mahindra Bank is KKBKINBB. This code is used for international wire transfers to Kotak Mahindra Bank accounts, including the 811 account. Please note that SWIFT codes are used for international transactions only, and not for domestic transactions within India. For domestic transactions, Kotak Mahindra Bank uses the Indian Financial System Code (IFSC), which is an 11-character alphanumeric code used to identify bank branches in India. The IFSC code for Kotak Mahindra Bank is KKBK0000958.

Kotak Mahindra Bank 811 Open Account

Opening a Kotak Mahindra Bank 811 account is a simple and easy process that can be completed online through the bank’s website or mobile app. Here’s how to open a Kotak Mahindra Bank 811 account:

1. Visit the Kotak Mahindra Bank website or download the mobile app.
2. Click on the “811” tab and select “Open a Kotak 811 Savings Account”.
3. Enter your mobile number and email ID to begin the registration process.
4. Provide the necessary personal details, such as your name, date of birth, and address.
5. Upload the required documents, which may include a copy of your Aadhaar card, PAN card, and a passport-size photograph.
6. Once you have filled in all the details and uploaded the documents, review and submit your application.
7. After submitting your application, you will receive an OTP (one-time password) on your registered mobile number. Enter the OTP to verify your identity.
8. Once your identity is verified, your Kotak Mahindra Bank 811 account will be opened, and you will receive your account number and other details via email and SMS.

Please note that you may be required to complete additional steps, such as scheduling a video KYC (know-your-customer) appointment or visiting a Kotak Mahindra Bank branch to complete the account opening process, depending on the bank’s requirements and regulations.

Kotak Mahindra Bank 811 Customer Care Number

If you are a Kotak Mahindra Bank 811 customer and need to contact their customer care, you can call their toll-free number 1860-266-0811. This number is available 24/7 and can be used to report any issues or queries related to your account or services. You can also reach out to Kotak Mahindra Bank customer care through email or the bank’s official website. Additionally, the bank provides various other contact numbers for specific queries such as credit card related queries, investment queries, and so on. You can find the complete list of contact numbers on the Kotak Mahindra Bank website.

Conclusion

Kotak Mahindra Bank 811 is a digital savings account that offers a range of features and benefits to customers. The account provides the convenience of banking from anywhere, anytime through the mobile app, and offers attractive interest rates on savings accounts. With no maintenance charges and a free personal accident insurance cover of up to Rs. 1 lakh, Kotak Mahindra Bank 811 is a great option for those looking for a zero-balance account with a range of benefits.

FAQs

Here are some frequently asked questions (FAQs) about Kotak Mahindra Bank 811: