Many times we believe what we see but it is always suggested to go into the depth before coming to the final conclusion. Kotak Mahindra Bank is no doubt one of the most popular private banks in India. Its recently launched product – Kotak 811 has gained a lot of attention. So, if you are also eagerly waiting to use it, it is better to check details yourself.
Kotak 811 Account
In this article, we have shared the 3 types of Kotak 811 account and the features of each of the types are as follows:
811 Savings Account
- India’s First downloadable account
- Zero balance account
- Instant Savings account with Aadhaar Card details
- Earn interest rate up to 6% per annum
- Virtual Debit card facility
- Free IMPS/NEFT using Net Banking and Mobile Banking
- Book movie tickets, flight tickets and shop online with Kotak 811 App
- Pay for instore purchase using Scan & Pay feature
811 Lite Savings Account
- Transact for up to ₹20,000 per month
- Comes with the validity period of 36 months from the date of savings account activation
- Complete full KYC within 36 months of account activation and upgrade your savings account to 811 Savings Account
- Shop, book movie and flight tickets without downloading other apps
811 OTP Savings Account
- Interest up to 6% per annum
- Zero balance savings account
- Instant savings account opening with Aadhaar Card details
- Online shopping with Virtual debit card
- Pay for instore purchase using Scan & Pay
What are the features that make Kotak 811 unique?
There are n number of benefits of using this one-stop destination app called Kotak 811.
Zero balance account– You can now open zero balance account with Kotak 811 app and earn an interest rate of 5-6% per annum on your savings. You can get 6% per annum interest rate for savings account with the balance over ₹1 lakh and up to ₹5 crores. For the Savings Account balance up to ₹1 lakh earn the interest of 5% and for the saving account balance above ₹5 crores earn 5.50%. Hence, there are no penalties for not maintaining the minimum amount and enjoy the interest over the balance maintained.
Scan and Pay– You can make payments for the grocery, shopping, tickets, movies and other requirements without cash or swapping your debit or credit card.
Multi-purpose App- You can book movie tickets, flight tickets, shop, subscribe to magazines etc. through this single app called Kotak 811. In short, this app replaces all the other Apps on which you used to waste time.
Virtual Debit Card Accessibility- The introduction of 811 Virtual Debit Card replaces the plastic made the debit card as it is convenient, safe and can be accessed from anywhere at anytime. You just need to carry your mobile phone with yourself whenever you are paying bills or doing recharge or any other online payments in just a few minutes.
Get Loans and Make Investments- You can also apply for a loan from this app and not only this you can also make investments.