Savings Account For Self-Employed

Being self-employed means you are your own boss and can make decisions at your will. So, when it comes to financial planning, make sure you have a savings account for your everyday expenses. Do you know you can open a savings account with Kotak811 in just 3 minutes - that too without any bulky paperwork? Yes, you can do it online and get great benefits like superior security, zero balance flexibility, and more.

Feature and benefits of savings account for self employed 

Take a look at the key features and benefits of Kotak 811’s Savings Account for the self-employed:

• Fully Digital & Hassle-Free Setup: Are you a freelancer, an entrepreneur or a small business owner? You can open a savings account in just 3 minutes - that too without any paperwork or trip to the nearest branch.
• Flexible, Zero-Balance Advantage: Now you can manage your finances without the stress of maintaining a minimum balance. Thus, this account is ideal for you if you have a variable income, work based on the gigs you get or are an independent professional.
• Maximise Your Savings: With the ActivMoney feature, get up to 5.75% interest and grow your earnings effortlessly.
• Seamless & Free Fund Transfers: Send payments to vendors, receive client funds, or handle business expenses instantly with free IMPS, RTGS, or NEFT transactions.
• Secure Virtual Debit Card for Easy Transactions: Do you pay for business tools, subscriptions, and services online? With the virtual debit card, you get enhanced security.
• Cashback Rewards on UPI Payments: Earn exciting cashback on digital transactions, making everyday business expenses more rewarding.

Fees & charges incurred with savings account for self employed

Here are some of the fees and charges associated with the savings account for self-employed individuals:

Documents required to open savings account for Self Employed

The process of opening a savings account for the self-employed is quick and paperless. But you should submit these documents for KYC:

• Aadhaar Card
• PAN Card

How to open a savings account for self employed with Kotak811?

The process of opening a savings account for self-employed people with Kotak811 is fully digitalised and, hence, quick. Just follow these simple steps:

1. Download the Kotak811 App or Visit the Kotak811 Website 
   • You can visit Kotak811’s official website. Or, look for the Kotak811 Mobile Banking App in the Play Store / App Store and download it to your smartphone.
2. Submit Basic Information 
   • To start the process, enter your name, mobile number, and email ID.
3. Authenticate Phone Number with OTP 
   • An OTP will be sent to your registered mobile number. Provide this for verification of your identity.
4. Enter Aadhaar and PAN Details 
   • Share your Aadhaar and PAN card details for KYC verification.
   • To proceed, enter the OTP you received on your Aadhaar-registered mobile number.
5. Accept Terms and Conditions 
   • Next, read the terms and conditions provided by the bank and accept them.
6. Account Activation 
   • Once your KYC is verified, your account will be instantly activated.

Full KYC: Your Next Step

Initially, you open a limited KYC account, where there are restrictions on account balance and transactions. So, make sure you complete the KYC within 180 days by visting the nearest bank branch to unlock and enjoy full account benefits.

Important Notes:

• You can quickly open a savings account for self-employed people online within a few minutes.  
• You need a minimum amount of ₹1,000 to open the account.  
• You get a zero-balance account.  
• You must have your PAN and Aadhaar card ready to complete the process quickly. 

Be the Master of Your Finances with Kotak811! 

Choose Kotak811 to open a savings account for self-employed in just 3 minutes. You do not have to deal with paperwork or visit the nearest branch. Complete the formalities online and get a secure, zero balance account with high interest rates. Take control of your finances today!