You are independent, and so should your finance management. As a freelancer, you need a flexible and digital-friendly banking solution that fits your asymmetrical income and business expenses. Sometimes, you are getting paid by clients, and other times, you manage expenses.
The Kotak811 Bank Account for Freelancers gives you complete control over your finances - zero balance requirement, free fund transfers, and a virtual debit card for easy online transactions. You can bank anytime, anywhere, with the Kotak Bank 811 Mobile App.
Features & benefits of bank account for Freelancers
Seamlessly manage your finances with the Savings Account for freelancers. Here are the flexible features and their benefits for independent professionals.
- High Interest with ActivMoney: Grow your hard-earned money with up to 5.75% p.a. interest while keeping liquidity.
- 100% Digital Banking: Track earnings, payments & expenses effortlessly using the Kotak811 Mobile Banking App.
- Zero Balance Flexibility: No need to maintain a minimum balance - perfect for fluctuating incomes.
- Free Fund Transfers: Seamless IMPS/RTGS/NEFT transactions at no extra cost.
- Free Virtual Debit Card: Ideal for online payments, software subscriptions, and business expenses.
- Cashback up to ₹250 on UPI Payments: Enjoy rewards while managing payments.
- No Branch Visits, No Paperwork: Open your account online in just 3 minutes* and complete Full KYC digitally.
- Credit Card Approval: Get access to a credit card to support business purchases and cash flow needs.
Fees & Charges
Get familiar with the different fees and charges related to Bank Account for Freelancers are given in the table below:
| Category | Feature | Details |
|---|---|---|
| Account Basics | Monthly Balance Requirement | ₹0 |
| Opening Fund Requirement | ₹1,000 | |
| Annual Fees & Cashback | ₹0 annual fees, ₹0 cashback | |
| Banking & Transactions | Free Digital Fund Transfers | NEFT/RTGS/IMPS |
| ATM Withdrawal Limit (Daily) | ₹25,000 | |
| Cash Transaction Limit | ₹10,000 or 1 transaction/month | |
| Cheque Book (On Request) | ₹5 per cheque leaf | |
| Debit Card & Security | Virtual Debit Card | Free |
| Physical Debit Card (VISA Classic) | ₹399 | |
| Lost Card Liability | Up to ₹2.5 Lakhs | |
| Insurance & Protection | Personal Accident Cover | Up to ₹2 Lakhs |
| Purchase Protection | Up to ₹50,000 |
Documents Required
No hassle in the documents section, too. You just need a couple of documents to open a Bank Account for Freelancers:
- Aadhaar Card
- PAN Card
How to open a bank account for freelancers with Kotak811?
Opening a Bank Account for Freelancers with Kotak811 is a straightforward and fully digital process. You just have to follow these easy steps:
- Download the Kotak811 App or Visit the Kotak811 Website
- Get the app from the Play Store or access Kotak811 online.
- Enter Your Basic Details
- Provide your name, mobile number, and email ID.
- Verify Your Mobile Number
- Enter the OTP sent to your registered number.
- Submit Aadhaar & PAN for KYC
- Enter your Aadhaar and PAN details.
- Verify with the OTP sent to your Aadhaar-linked number.
- Agree to the Terms
- Read and accept the bank’s terms and conditions.
- Get Instant Account Activation
- Your account is active once KYC is verified.
- Complete Full KYC
- Full KYC must be done within 180 days. Visit the nearest bank branch and complete the in-person verification process.
Key Highlights:
- A ₹1,000 deposit is required during setup (can be withdrawn later).
- The process is 100% digital and takes only a few minutes.
- Keep your Aadhaar and PAN handy before starting.
Get Your Independent Smart Digital Banking with Kotak811
As a freelancer, you need a banking solution that works as flexibly as you do. Get zero balance bank account, instant digital access, and exciting rewards—all designed to support your work lifestyle. Open your account now in the most hassle-free way!
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Savings Account FAQ's
Is there any opening fund requirement in a savings bank account?
Yes, while opening a Kotak811 Savings Account, you need to make an initial deposit of ₹1,000.
Do I need to complete KYC for my bank account?
Yes, full KYC must be completed within 180 days to keep your account active. If you are not able to do it within this time, your bank account will be blocked from transactions until you complete the KYC.
How do I open a joint bank account with Kotak811?
Kotak811 currently doesn’t support opening of joint accounts. However, you can open a bank account for individual use.