How is Kotak 811 account?

How is Kotak 811 account?

Kotak 811 Edge is a savings account which brings you the best of Kotak 811 and our regular accounts. This account requires a minimum balance of Rs. 10,000. Kotak 811 Edge comes with a Platinum Chip Debit Card, high free transaction limits, free transactions on all Kotak ATMs and many more perks.

What is Kotak 811 zero balance account?

Benefits of Zero Balance Account Minimum Balance: As it is a zero balance account, there are no charges on non - maintenance of minimum balance. Spend your balance to the last rupee without any worry. Virtual Debit Card: Get a Virtual Debit Card instantly for online shopping and digital payments.

What is Kotak 811 full KYC account?

Full KYC process is nothing but getting your KYC documents such as PAN and address proof verified by a bank agent. Kotak 811 is an online account, i.e. you can open the account through the Aadhaar-based One-Time Password (OTP) verification process.

Is Kotak 811 good?

The Kotak 811 Lite Account account is also more of a digital wallet without a card but where you get interest on your money. It is mandatory to update it to a full KYC account within one year of opening. ATM Cash Withdrawal: Virtual Prepaid Card with Nil Charges. NEFT/RTGS: Fund transfer not allowed.23-Aug-2022

Can I deposit 5 lakhs Kotak 811?

Features of Kotak811 Limited Full KYC Account: Aggregate of all credit should not exceed 2 Lakh in a year and, Account balance at any point should not exceed 1 Lakh. Customer can transfer a maximum amount of 1,00,000 through online transfers.

Does Kotak 811 have any charges?

Kotak 811. 5 financial Transaction / month @ nil charges, thereafter Financial Txn. – 21.00 / Txn. Maximum of 5 transactions @ nil charges (incl.

Is PAN card mandatory for Kotak 811?

PAN card is mandatory to open a Kotak811 a/c.

Can I withdraw money from Kotak 811 account?

There are two ways to withdraw your money from an Kotak811 account: Through an ATM using physical debit card** You can also visit a branch to withdraw cash.

What is the difference between Kotak 811 and normal account?

Customers of Kotak 811 don't have to maintain any minimum average balance. As a result, you can use your 811 account freely without worrying about maintaining minimum average balance. On the other hand, regular savings accounts have monthly minimum average balance that customers need to maintain to avoid penalties.

Does Kotak 811 have minimum balance?

Maintain a minimum account balance of Rs. 10,000 per month and leverage facilities like free online funds transfer via IMPS, NEFT and RTGS.

Is Kotak 811 a student account?

While Kotak 811 is a regular savings account, it is also a good option for students. Students can use Kotak 811 as a student account or as a secondary account to save money to achieve financial goals or receive payments.

What are the benefits of Kotak 811?

Features of the 811 Digital Bank Account

Is Kotak 811 private or government?

Became first scheduled private sector bank to receive approvals from GOI for collection of direct and indirect taxes such as Income Tax, Goods and Services Tax (GST) etc through its banking network.

Is Icici better than Kotak?

ICICI Bank Ltd is most highly rated for Job security and advancement and Kotak Mahindra Bank is most highly rated for Job security and advancement.Overall Rating.

What are the disadvantages of Kotak 811 account?

At the same time, the Kotak 811 Edge account requires a minimum balance of 10,000 rupees. Failure to do could invite penalties and other fines which could be 5% of the shortfall balance. It's the only drawback from keeping a Kotak 811 Edge account.17-May-2022

How much cash deposit is allowed?

The cash deposit limit in savings account in India for a day is set at ₹1 lakh and is the same for all the banks in India. Depositing more than ₹1 lakh in an Indian bank's savings account may draw the attention of the Income Tax department and shall be considered an unethical practice.

Can I get physical Debit Card in Kotak 811?

*Charges Apply. Physical debit card is not available for Kotak811 Lite account customers. Kotak811 Lite customers must complete their Full KYC to lift this restriction.

Can I get passbook for Kotak 811?

Since Kotak811 is a fully digital account, it does not come with a physical passbook by default. Full KYC customers can activate their passbook by logging into the Kotak811 Mobile Banking App and following these simple steps: Go to Service Request > Account related. Select Activation/Deactivation of Passbook option.

How much can I withdraw from Kotak 811?

Customer can transfer a maximum amount of 1,00,000 through online transfers. Customer won't be allowed to transfer funds through branch before the account is converted to Full KYC account. No cheque book will be issued. ##Cash withdrawal limit from other Domestic ATM is Rs. 10000 per transaction.

How much can I deposit in Kotak 811?

Is checkbook free in Kotak 811?

Cheque Book is available to Full KYC accounts at a mimimal charge. To get your personalized Cheque Book, follow the steps below: Log in to the Kotak Mobile Banking App.

How is Kotak 811 account?