What is Kotak811 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!
Kotak 811. 5 financial Transaction / month @ nil charges, thereafter Financial Txn. – 21.00 / Txn. Maximum of 5 transactions @ nil charges (incl.
Why is Kotak called 811?
"It is inspired by Prime Minister Narendra Modi's November 8 (demonetisation) move. The inspiration is from PM Modi's vision of new India," he said. Key things to know about Kotak's 811 savings account scheme: 1) "811" is part of Kotak's existing banking app.29-Mar-2017
Yes, that will work.12-Feb-2018
How much is the limit of Kotak 811?
Transaction limit of INR 5,000 and re-load limit of INR 5,000 per month and 1,20,000 per year will be applicable on your 811 Lite Account as well as your Virtual Prepaid Card. The account doesn't pay interest, and doesn't come with a cheque book.
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.
Maintain a minimum account balance of Rs. 10,000 per month and leverage facilities like free online funds transfer via IMPS, NEFT and RTGS.
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.
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
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.
Features of the 811 Digital Bank Account
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
You need to complete the full KYC procedure to convert your account into a regular savings account. The full KYC procedure for a Kotak 811 Digital Savings Account can be completed within a few minutes.
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.
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.
Can I use Kotak 811 for Google pay?
How to Add Kotak Cards to Google Pay? To Add Kotak Debit/Credit Card, open Google Pay App and follow below steps: Tap Profile Payment methods -Add card. Enter the Kotak Card number, Expiry date, CVV, and the cardholder's name and billing address.
PAN card is mandatory to open a Kotak811 a/c.
Can I withdraw money from Kotak 811 credit card?
You can use your credit card at any ATM to withdraw cash. You can increase your credit card limit if you ensure to keep a decent track record without any late payments or defaults. Once the bank increases your card limit, your cash limit will increase automatically.
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.
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 Kotak811 account?