Is Passbook Necessary In Today's Digital Banking World?

28^th Aug 2025...

For years, the passbook has served as a straightforward way to keep track of finances, recording each deposit, withdrawal and interest entry by hand. With digital banking now reshaping our interactions, e-statements and online account management tools are offering new ways to keep an eye on savings and spending.

The rise of these digital alternatives presents both new opportunities and certain adjustments for traditional methods. Here's a closer look at where the passbook fits in the digital era.

Challenges of traditional passbooks

As digital banking becomes the norm, traditional passbooks face practical challenges for modern banking needs. This includes:

1. Need to visit the bank to update entries

Passbooks must be physically updated at a bank branch or through a specialised kiosk. Each transaction, whether a deposit, withdrawal or interest entry, requires this visit, creating an additional task for account holders. This can be inconvenient when regular updates are needed, as it demands setting aside time and making the trip to a branch.

2. Waiting for a new one when the old booklet is fully filled

When all pages in a passbook are used, a replacement is needed to continue recording transactions. The process sometimes causes delays and users may have to wait until a new passbook is issued. The dependency on a physical booklet, rather than having a continuous, accessible record, poses a limitation on efficient account management.

3. Have to carry the passbook everywhere?

Since the passbook is the primary physical record of transactions, users must bring it to the bank for updates. This adds the risk of misplacing it and the potential loss of important information if it is the only account record. Digital banking, on the other hand, provides secure access from mobile devices without needing a physical item.

What are e-statements?

E-statements or electronic statements are digital versions of traditional bank statements. They replace the need for printed passbooks by delivering transaction details securely via email or through online banking platforms. They basically provide the same information traditionally found in passbooks.

Benefits of e-statements

Following are the reasons why e-statements are becoming a more prevalent option to view account transactions:

1. Access your e-statement anytime, anywhere

E-statements are accessible on-demand from any device, whether you're on your computer, tablet or phone. It eliminates the need to wait for a printed statement or carry a passbook. This makes account monitoring available wherever you are.

2. Get details of the recent transactions in one tap

With e-statements, you can quickly see real-time data of your deposits, withdrawals, interest and charges with just a tap. This immediate access helps in keeping up to date with account activities and managing finances more effectively.

3. Ability to search and filter transactions for better

E-statements allow users to search and filter transactions by date, amount or type. This feature simplifies tracking specific transactions or identifying spending patterns, providing more control and clarity over account details.

How to access e-statements for your Kotak811 Savings Account?

Kotak 811 Savings Accounts provide an easy way to access e-statements. Instead of relying on passbooks and physical statements, you'll receive secure PDF e-statements by email, allowing you to view recent transactions anytime.

Other than that, you can use the following ways to access e-statements or get information on recent transactions:

Using Kotak Bank 811 Mobile Banking App:

Open the app and log in.
Go to the "Banking" section and select "Account Statement."
Choose your account, and then specify the duration (e.g., one month, three months).
Locate "View" and "Download" to access the details of your account.

Using Kotak Net Banking:

Log in using your credentials, i.e., CRN and password on the official website.
Navigate to "Banking," then go to "Savings/Current Account" and select "View/Download Account Statement."
Enter your account details, select the period and download the statement in PDF format.

Conclusion

This shift toward digital statements not only reflects a new era of convenience but also meets the evolving needs of today's fast-paced world. For those who still prefer physical records, passbooks remain available, offering a familiar way to keep track of finances. Availing them has also evolved. You can make a request from the comfort of your home through the Kotak811 Mobile App and Internet Banking platforms. This way, we strive to make financial management accessible and personalised in a way that suits everyone.

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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. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and 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.