Gone are the days of visiting bank branches and waiting in long queues to open your savings account. Saving money should not be that hard! Here’s presenting the effortless solution - Kotak811 Digital Savings Account.
Instead of hitting the road to the bank, download our mobile banking app or visit our website. There, with a few single clicks, you can open your savings account and manage your savings without any hassle. Enjoy all the perks of a new savings account with the added bonus of complete digital banking services.
Features & benefits of Digital Savings Account
With a digital savings account, you are in for various benefits, such as:
- Maximum Digital Convenience: Provide your details, complete documentation, KYC, and take care of all the formalities online.
- High Interest Rates: Earn attractive interest rates going up to 5.75% with ActivMoney and maximise returns on savings.
- Zero Balance Account: No minimum balance to maintain - you can save and spend with total freedom.
- Exciting Cashback: Pay and earn. Receive cashback rewards of up to ₹250 on your UPI transactions.
- Free Virtual Debit Card: Own a virtual debit card for secure and hassle-free online payments and shopping.
- No Charges on Digital Fund Transfer: Make instant IMPS, RTGS, and NEFT transfers without any charges.
Additionally, some specifics in terms of cover and limits are as follows:
- Daily ATM cash withdrawal: ₹25,000
- Cash transaction limit: ₹10,000 or 1 transaction/month
- Personal accident cover: Up to ₹2 Lakhs
- Purchase protection: Up to ₹50,000
- Lost card liability: Up to ₹2.5 Lakhs
Fees & Charge
Services | Charges |
|---|---|
Monthly deposit - In a single transaction | ₹0 |
Annual Program Fees | ₹0 |
Digital Fund Transfer - NEFT/RTGS/IMPS | Free |
Funding during the a/c opening process | ₹1,000 |
Debit Card - Virtual | Free |
Debit Card - Physical | ₹399 (VISA Classic) |
Cheque book | ₹5 per cheque leaf |
Documents required
All you need to open your digital savings account are:
- Aadhaar Card
- PAN Card
How to Open a Digital Savings Account with Kotak811?
Open your digital savings account in 3 minutes by following these steps:
- Visit the Website or Download the App: Visit the Kotak811 website and navigate to the savings account tab. You can also download the mobile banking app.
- Enter Your Details: Once you have initiated the account opening, enter all the details like your Aadhaar number, PAN card, and other personal details, as asked on the screen.
- Enter OTP: Complete the OTP verification of your mobile number.
- Complete KYC: Complete KYC virtually using your Aadhaar and PAN card.
With all formalities done, your account will be activated, and you can start using it.
Get your digital savings account in just 3 minutes!
Save your hard-earned money and enjoy great returns now with a convenient digital savings account. Spend only 3 minutes to open a savings account with Kotak 811 from anywhere and at any time. High interest rates, enhanced banking flexibility, and many other benefits await you.
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Savings Account FAQ's
Can I add a nominee to my digital savings account?
Yes, you can add a nominee to your digital savings account. In your absence, the accumulated funds will be transferred to the nominee.
Does the digital savings account come with a cheque book?
You can request a cheque book through the Kotak Bank 811 Mobile App.
Can anyone open a digital savings account?
Any individual can open a digital savings account, provided-
- They are 18 years of age or older.
- They hold a valid PAN card.
- They are Indian residents.