Kotak 811 Savings Account

811 Account Balance	Rate of Interest
Balance up to Rs. 50 lakh	3.50% p.a.
Balance above Rs. 50 lakh and up to Rs. 100 crore	4.00% p.a.

Note: The above-mentioned rates are updated as on 11th September 2024.

Following are the 811 variants offered by Kotak Mahindra Bank:

Types of Kotak 811 Savings Account	Primary Features
Kotak 811 Limited KYC	Zero Balance Savings Account Validity is 12 months (from the date of account opening)
Kotak 811 Lite	No hassles of maintaining the minimum balance 12 months validity (from the date of account opening)
Kotak 811 Full KYC Account	No minimum balance requirement Cheque book on request
Kotak 811 Edge	Rs. 10000 is average monthly balance requirement Cheque book facility

1. Kotak 811 Limited KYC

Kotak 811 Limited KYC	Features
Minimum Balance Requirement	Zero Balance Savings Account
Physical and Virtual Debit Card	Free virtual debit card Rs. 199 will be charged per annum for physical debit card
Validity from the date of opening	12 months
Online Transfers	Free IMPS and NEFT

2. Kotak 811 Lite

Kotak 811 Lite	Features
Minimum Balance Requirement	Zero Balance Savings Account
Physical and Virtual Debit Card	No physical and virtual cards available
Cumulative credits allowed	Rs. 10,000 in a calendar month Rs. 1,00,000 in a financial year
Validity from the date of opening	12 months
Verification	Mobile Number based

3. Kotak 811 Full KYC Account

Kotak 811 Full KYC Account	Features
Minimum Balance Requirement	Zero Balance Savings Account
Physical and Virtual Debit Card	No charges for virtual debit card Rs. 199 will be levied for a physical debit card
Online Transfers	Free NEFT, RTGS and IMPS
Cheque Book	A cheque book will be issued by the bank on the request

4. Kotak 811 Edge

Kotak 811 EDGE	Features
Minimum Balance Requirement	Rs. 10000
Physical and Virtual Debit Card	Platinum Debit Card (Rs. 150 p.a.)
Online Transfers	Free IMPS, NEFT and RTGS
Cheque Book	By default

The above said categorisation of the Kotak 811 depends on the on-board journey of an applicant’s account. Look at the following to understand:

• You will be able to enjoy the benefits of 811 KYC Account when you complete the full KYC in-person verification process.

• You will get the benefits and features of 811 Limited KYC Account when you are not able to complete the in-person KYC verification with the bank’s representative.

• You will get the features and benefits of 811 Lite Account if you did not receive OTP after entering the Aadhaar card number or did not have Aadhaar card details to authenticate that time.
• To avail the best banking features of 811 Full KYC Account, complete the verification process by visiting the nearest branch.

Kotak Mahindra Bank 811 is a full-service and digital banking network available on mobile phones. Here are some key features of this product:

• Instant opening and activation of the account
• Just scan and pay bills, etc.
• Earn interest on your savings per annum
• Auto Sweep Facility
• Enjoy every day special offers and discounts on travel, shopping, entertainment, etc.

The bank does not follow any strict criteria for this digital account. However, an applicant must meet the below prerequisite to be eligible for this account:

• An applicant who wants to open Kotak 811 should be a resident of India.
• The age of the applicant must be 18 years or above.

Following are the essential documents that have to be submitted by the applicant to apply for the Kotak 811 digital savings account:

• Aadhaar card
• PAN card

Being a digital savings account, the entire process will be online. Look at the following easy and essential steps:

Step 1: Visit Paisabazaar.com and click on ‘Savings Account’

Step 2: In the second step, fill a Savings Account form on Paisabazaar with required personal data like annual income range, name, email id, contact number, city and annual income range. Once submitted the Savings Account tool automatically will furnish personalized Savings Account options.

Step 2: In the second step, you can compare various Savings Account options offered by the tool interface and apply for the Kotak 811 Savings Account. You will be redirected to Kotak Mahindra Bank website. There you will be required to provide your basic and personal details to open your bank account in no time.