What is Kotak 811 account?

What is Kotak 811 account?

Kotak 811 is a zero balance digital account which offers interest rate of up to 4%* p.a.. Download the Kotak Mobile Banking App or visit Kotak Website to open your Kotak 811 account. Register using your Aadhaar number*, PAN and other basic details. It will only take a few minutes!

Is Kotak 811 a real account?

Kotak 811 is a new age bank account offered by Kotak Mahindra Bank. You can open a Kotak 811 account by downloading the Kotak Mobile Banking App or by visiting www.kotak.com and registering using your Aadhaar number (optional) ,PAN and other basic details.

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

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.

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.

How much can I deposit in Kotak 811?

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.

Can I transfer money from Kotak 811?

Steps via Mobile Banking On Mobile Banking, click on Banking > IMPS > IMPS Fund Transfer. Select MMID tab. Enter the mandatory details and click on Pay Now. Verify the transaction details and click on Confirm.

What is the minimum balance in Kotak bank?

Maintain a minimum account balance of Rs. 10,000 per month and leverage facilities like free online funds transfer via IMPS, NEFT and RTGS. Elevate online shopping experience with Platinum Debit Card.

What are the benefits of Kotak 811?

Features of the 811 Digital Bank Account

Which bank minimum balance is zero?

Kotak Mahindra Bank has introduced three kinds of zero balance accounts out of which Kotak 811 Full KYC account is the most useful as it provides a cheque book and a debit card (if required by paying INR 199) and a free digital debit card.15-Nov-2022

Is PAN card mandatory for Kotak 811?

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

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 to transfer 10 lakhs in one day?

10 lakhs per day at ICICI Bank. NEFT transfers done through a bank's mobile app or net banking do not attract any fees or charges. However, if one approaches a branch for NEFT transfer, there will be charges applicable. For example, ICICI Bank levies fees between Rs.

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.

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.

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.

Is Kotak 811 Debit Card free?

811 #DreamDifferent Debit Card Get your card now for an annual fee of Rs. 299 inclusive of tax.

What is difference between Kotak 811 and Kotak 811 Lite?

Individuals can open Kotak 811 through their PAN and Aadhaar card details. However, if someone does not wish to use their Aadhaar or don't have their Aadhaar registered number, they can open Kotak 811 Lite Account. Later, they can convert their account into a full-fledged savings account through full KYC.

How much can I withdraw from Kotak ATM?

Limits for transaction within India only: Daily Purchasing Limit: Rs 50,000. Daily ATM Withdrawal Limit: Rs 25,000.

What is Kotak 811 account?