Opening a Zero Balance Savings Account

Say goodbye to low interest! Get up to 7%* interest p.a. in your savings account with Kotak ActivMoney! Simply get started by opening your digital savings account and sign-up for Kotak ActivMoney. The future of digital banking is here. 

Request to open your Kotak811 Savings Account today.

Features & Benefits of Zero Balance Savings Account

1. Easy account opening process
2. Get up to 7%* interest p.a. with ActivMoney
3. Instant Virtual Debit Card
4. No charges for non-maintenance of balance
5. 24/7 access through the Kotak811 App and Internet Banking
6. Free digital transactions like NEFT, IMPS, UPI, Pay your contact, Scan & Pay

Eligibility Criteria for Zero Balance Savings Account

1. Citizen of India
2. Aged 18 and above
3. Aadhaar and PAN Card (providing Aadhaar is voluntary)

Documents required for Zero Balance Savings Account

Paperless verification and minimal documentation

1. Aadhaar Card (providing Aadhaar is voluntary) 
2. PAN Card

Why should you choose a Kotak811 Zero Balance Account?

1. No minimum average balance: Make the most with no monthly average balance maintenance requirement.
2. Additional benefits: A free virtual debit card, plus cash and cheque deposits at the bank’s branch.
3. Digital payments: Make digital payments easily using NEFT, UPI and Scan & Pay.

5 Things You Should Know About Kotak811 Zero Balance Savings Account:

1. There are no minimum balance commitments in a zero balance savings account. So, you can spend even the last rupee in your account without worrying about penalties.
2. You can request to open a digital zero balance account online from the comfort of your home. All you need is your PAN and Aadhaar number.
3. Earn the prevailing interest on your zero balance savings account deposits.
4. With your zero balance account, enjoy facilities such as debit cards, cheque books, internet banking and mobile banking.
5. Open a zero balance savings account through Aadhaar OTP verification. Then complete the full KYC process of your account through in-person verification within 180 days from account opening by visiting your nearest bank branch or booking an appointment.

Kotak811 Zero Balance Account is for everyone

1. Now you can open a zero balance account using your Aadhaar and PAN Card along with other details.
2. Kotak811 is a zero balance savings account that can be opened by everyone (Resident Indian individuals above the age of 18 only).
3. Whether at work, at home or on vacation you can open an 811 account instantly, without ever stepping out.
4. Kotak811 is a zero balance savings account this means that you don’t have to pay any penalties for not maintaining a minimum balance. So, what are you waiting for? Open a zero balance savings account with Kotak811 and start banking with now.

Zero Balance Savings Account FAQs

What is a zero balance savings account?

A zero balance savings account is a bank account that does not require customers to maintain any minimum balance whatsoever. However, they can access all banking services and enjoy added benefits.

How to open a zero balance savings account?

Easily request to open a zero balance savings account on the Kotak811 Website or the Kotak811 App.

Can I place a request to open a zero balance savings account online?

Yes! You can place a request to open Kotak811 Zero Balance Savings Accounts online.

Who can open a zero balance account?

An Indian citizen over 18 years of age.

How to open a zero balance account without a PAN card?

You will need your PAN and Aadhaar Card to open a Zero Balance Savings Account. If you don’t have your PAN Card, please reach out to customer care on 1860 266 0811 

How can I track my zero balance savings account online?

It’s an instant opening after KYC. Account related activities can be tracked in real time on the Kotak811 App and through Internet Banking.

What are the interest rates on opening a zero balance savings account online?

You can get up to 7%* interest p.a. on your savings with Kotak ActivMoney.

Kotak Bank Registered Address: 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051

*How ActivMoney Works | ActivMoney Terms and Conditions

IMPORTANT: Please ensure that you complete your Full KYC within 180 days from account opening to enjoy uninterrupted services at all times. If Full KYC is not completed within 180 days from account opening, your account will be blocked from transactions. However, you would still be able to complete your Full KYC and resume banking easily. If Full KYC is not completed within 365 days from account opening, your account will expire permanently with no possibility of reactivation.

Aadhaar Disclaimer:

Providing Aadhaar is voluntary. Scan and Pay through your Kotak Mobile Banking App at select in-store outlets.

*ActivMoney Disclaimer:

Liquidated Dep2 for ₹25, 000 and liquidated in part for ₹15,000 from Dep1 to honour the cheque of ₹40, 000 as breaking of FD is done in multiples of ₹5,000. Dep2 will earn interest for 15 days at the applicable rate without penalty (on LIFO basis) as it exceeds 7 days which is minimum period required to be eligible for interest and ₹15,000 liquidated from Dep1 would earn eligible interest for 16 days. Returns calculated in above image is for 360 days only.

Applicable for Resident Indian Individuals only w.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only. Issuance of credit cards is at the sole discretion of Kotak Mahindra Bank Limited.