Financial transactions and other banking services are a part of your every month’s journey. To take care of all such activities it is good to open a monthly savings account that grows your money while keeping things flexible. The Kotak 811 Monthly Savings Account is designed to help you save smartly and earn attractive interest while enjoying smooth digital banking.
Kotak811 simplifies banking by providing a secure, digital-centric experience that saves time and delivers total flexibility. You can open this zero balance savings account online in only 3 minutes, without any paperwork or branch visits. You can handle your finances freely without worrying about penalties since there is no minimum balance required.
Features & benefits of monthly savings account
Kotak811 promotes your financial independence with simplicity and comfort. Check out the features and benefits of a Monthly Savings Account:
- Earn Higher Monthly Interest with ActivMoney: Get up to 5.75% p.a. interest and see your savings grow faster.
- 100% Digital & Paperless: Open and manage your account easily with the Kotak811 Mobile Banking App. No paperwork or branch visits are needed.
- Free Virtual Debit Card: Shop online, pay bills and make secure transactions without carrying cash.
- Exciting Cashback on UPI Payments: Earn up to ₹250 cashback when you make digital payments with Kotak811 UPI.
- Free Digital Fund Transfers: Enjoy IMPS/RTGS/NEFT transfers at no extra cost.
- Zero Balance Flexibility: No penalties for not maintaining a minimum balance - save and spend freely.
- Withdrawable Initial Deposit: Your initial deposit of ₹1,000 is fully withdrawable anytime, giving you complete financial control.
Fees & Charges
The different fees and charges related to Monthly Savings Account are given in the table below:
Service | Charges / Limits |
|---|---|
Account Opening Funding | ₹1,000 |
Monthly Balance Requirement | ₹0 |
Virtual Debit Card | Free |
Physical Debit Card (VISA Classic) | ₹399 |
Digital Fund Transfers (NEFT/RTGS/IMPS) | Free |
ATM Cash Withdrawal Limit (Daily) | ₹25,000 |
Cash Transaction Limit (Branch) | ₹10,000 or 1 transaction/month |
Cheque Book (On Request) | ₹5 per cheque leaf |
Personal Accident Cover | Up to ₹2 Lakhs |
Purchase Protection | Up to ₹50,000 |
Lost Card Liability | Up to ₹2.5 Lakhs |
Documents Required
There is not a long list of the documents you will need to open a Monthly Savings Account. You just need:
- Aadhaar Card
- PAN Card
How to open a monthly savings account with Kotak811?
Initiating a Monthly Savings Account with Kotak811 is fast and entirely online. Simply stick to these straightforward instructions:
- Download the Kotak811 App or Visit the Kotak811 Website
- Install the Kotak Bank 811 App from the Play Store or visit the Kotak 811 website.
- Enter Basic Details
- Provide your name, mobile number, and email ID to begin the process.
- Verify Your Mobile Number
- Enter the OTP sent to your registered mobile number for verification.
- Submit Aadhaar & PAN Details
- Enter your Aadhaar and PAN details for KYC verification.
- Verify through the OTP sent to your Aadhaar-linked mobile number.
- Agree to Terms & Conditions
- Read and accept the bank’s terms and conditions to proceed.
- Deposit ₹1,000 (Withdraw Anytime)
- Make an initial deposit of ₹1,000, which can be withdrawn later.
- Instant Account Activation
- Your account will be activated instantly after successful KYC verification.
- Complete Full KYC
- Full KYC must be completed by visiting the bank branch within 180 days to ensure uninterrupted services.
- Transactions will be restricted if KYC is not completed within the timeframe.
Start saving with Kotak811 monthly savings account
Open your account in just 3 minutes - completely digital, with no paperwork and no branch visits! Let your savings auto-transfer to a fixed deposit with ActivMoney. Earn up to 5.75% p.a. interest while maintaining liquidity and staying accessible whenever you need. Start growing your money effortlessly.
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Savings Account FAQ's
What is the minimum balance requirement?
Some banks require a minimum monthly average balance to avoid extra charges. If an account holder is not able to maintain the particular minimum balance requirement, they can face penalties. With Kotak811 Monthly Savings Account, you have zero minimum balance requirement.
What is the advantage of having a Monthly Savings Account?
A monthly savings account offers several advantages that support better money management.
- Steady Growth: Regular transfers to a fixed deposit help your balance grow with higher interest.
- Encourages Discipline: Monthly saving habits make it easier to plan for goals and stay consistent.
- Flexible Access: While boosting returns, it also provides access to funds when needed.
How can I track my transactions with Kotak811?
There are five basic ways to track your transactions with Kotak811:
- Online Banking: Log in via the website or mobile app and check the transaction history.
- Mobile App: Open the Kotak811 app, log in, and view transaction history.
- SMS Banking: Send an SMS with specific keywords to receive transaction details.
- Customer Care: Call 1860 266 0811 and provide transaction details for assistance.
- UTR Number: Use the UTR number from statements, SMS, or emails to track transactions.