Is Kotak 811 a savings account?

Is Kotak 811 a savings account?

Kotak 811 digital savings account offers different banking solutions like utility bill payments, mobile & DTH recharge, scan and pay for offline payments, Virtual Debit Card for online payments and other options to transfer funds to your contacts and more. Pay credit card bills on time every month with Kotak 811.

What is 811 savings 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.

How do I convert my 811 account to savings?

Visit the nearest Kotak Mahindra Bank branch to convert your account to a full KYC account as the procedure includes in-person verification. To book an appointment with a bank representative, log into your mobile banking app or call the bank customer care at 1860 266 2666.

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

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 811 account 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 cash in Kotak 811 account?

Following are the ways in which you can deposit money into your Kotak811 account: You can deposit money in your account using your Debit Card or Net Banking of another bank. You can transfer money from another account through NEFT, IMPS or UPI* You can visit your nearest Kotak Mahindra Bank branch to deposit cash*.

How much money can I keep in Kotak 811 account?

Features of Kotak811 Limited 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.

Which bank is best for savings account?

Best Zero Balance Savings Account 2022

Can I get passbook for Kotak 811 account?

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.

Is Kotak 811 zero balance account free?

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.

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.

Does Kotak charge for Debit Card?

Note: All domestic / international Non Kotak ATM transactions will be chargeable for Easy Pay Debit Card (Rs.Fees and Charges.

Does Kotak charges for cash deposit?

Charges applicable : Rs 3.5/1000 of cash deposited and part thereof + GST as applicable.

What is the UPI limit for Kotak?

5,00,000 using Net Banking, then you can transfer the remaining amount of Rs. 6,00,000 through Mobile Banking. One-time fund transfer will have a combined limit of Rs. 1,00,000 across Net Banking & Mobile Banking.

Which Kotak account is best?

Kotak 811 Edge is a savings account that brings you the best of Kotak 811 and Kotak's regular savings accounts. This account requires a minimum balance of Rs. 10,000. Kotak brings a complete digital experience to banking with 811 Edge Savings Account.06-Oct-2022

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.

How do I add money to my 811 account?

How many transactions are free in Kotak 811?

Maximum of 5 transactions @ nil charges (incl. financial & non-financial) in a month with a cap of maximum 3 transactions (incl. financial & non-financial) @ nil charges in top 6 cities (Mumbai, New Delhi, Chennai, Kolkata, Bengaluru and Hyderabad), thereafter Financial Transaction – Rs.

What is the minimum balance in Kotak bank?

EOD balance is Rs 10,000.

Is Kotak 811 a savings account?