Managing your savings should be simple and stress-free. After all, you have entered your relaxing time zone! With the Kotak811 Savings Account, you can enjoy easy, secure, and paperless banking without visiting a branch.
This zero-balance account makes sure that you don’t have to worry about maintaining a minimum balance. Plus, you can earn attractive interest, transfer money for free, and access your funds anytime. Kotak811 assists you in managing finances all from the comfort of your home.
Features & benefits of savings account for pensioners
Simplify banking with the Kotak 811 Savings Account for Pensioners. Let's know the exciting features before you make a decision:
- Better interest with ActivMoney: Earn attractive interest rates of up to 5.75% p.a. while keeping your funds accessible.
- 100% Digital Banking: Manage your savings anytime with the Kotak Bank 811 App.
- Zero Balance Requirement: No penalties for low balance. Enjoy banking without worry!
- Free Fund Transfers: IMPS/RTGS/NEFT transfers at no extra cost.
- Virtual Debit Card: Secure online shopping and bill payments at your fingertips.
- Cashback on UPI Payments: Get cashback up to ₹250 for digital transactions.
- No Need to Visit a Branch: Open your account and complete Full KYC digitally.
Documents required
Easy documentation with just two things required to open a savings account for pensioners:
- Aadhaar Card
- PAN Card
How to open a savings account for pensioners with Kotak811?
A pensioner can sit back and quickly open a savings account for pensioners with Kotak811. You just have to follow these simple steps, which are fully digital:
Step 1: Download the Kotak811 App or visit the Kotak811 website.
Step 2: Enter your name, mobile number, and email ID to begin.
Step 3: Verify your mobile number with the OTP sent to you.
Step 4: Provide Aadhaar & PAN details for KYC verification.
Step 5: Accept the bank’s terms & conditions to continue.
Step 6: Your account is activated instantly after KYC approval.
Step 7: Complete Full KYC within 180 days by visiting the nearest bank branch to keep using all features.
Key Highlights:
- Takes only a few minutes,100% online, with no paperwork
- ₹1,000 deposit required
- No minimum balance fees
- Have your Aadhaar and PAN ready for a smooth process
Fees & Charges
The fees and charges applicable to savings account for pensioners are very minimal. Refer the table below for details:
Service | Charges / Limits |
Account Opening Funding | ₹1,000 |
Monthly Balance Requirement | ₹0 |
Virtual Debit Card | Free |
Physical Debit Card (VISA Classic) | ₹399 |
ATM Cash Withdrawal Limit (Daily) | ₹25,000 |
Cash Transaction Limit (Branch) | ₹10,000 or 1 transaction per month |
Digital Fund Transfers (NEFT/RTGS/IMPS) | Free |
Cheque Book (On Request) | ₹5 per cheque leaf |
Personal Accident Cover | Up to ₹2 Lakhs |
Lost Card Liability | Up to ₹2.5 Lakhs |
Purchase Protection | Up to ₹50,000 |
Enjoy hassle free banking with Kotak811
Kotak811 has the perfect savings account for pensioners with zero balance. Enjoy secure and effortless banking from the comfort of your home. Give just 3 minutes online, without paperwork or branch visits, to open your account today!
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Savings Account FAQ's
Is there an upper age limit for Kotak811 Savings Account for Pensioners?
No, there is no upper age limit for opening a Kotak811 Savings Account. You just have to be 18 years or older, with a valid Aadhaar and PAN card, and be a resident of India to open an account.
Can I open a savings account online?
Yes! You can open a Kotak811 Savings Account entirely online in just a matter of minutes (3 minutes precisely).
How do you open a digital savings account?
It is easy to open a digital savings account with Kotak811. Download the Kotak811 App or visit the website, enter basic details, verify via OTP, and provide Aadhaar & PAN details for KYC verification.