Kotak Mahindra bank 811 Savings Account – Earlier Open a saving account in India is not an as easy task for any citizen. We faced several issues while opening a saving Because its a long wide process and it took so much time. It took a minimum 3 days to open a savings account in any bank, sometimes it took more than 7 days as well. Open a savings bank account need proper supporting documents which is compulsorily required to open a savings account and we need one guarantor for the same bank & branch to open a Saving Account from that branch.
However, the situation is changing nowadays. India is forwarding towards digitalization. Now almost every bank provides the facility of open Saving Bank account online. Even after providing the facility of open the savings account but saving the account is not activating instantly because for activating the online saving account you need to visit the nearest home branch of that bank with your all relevant KYC Documents or bank employees come to collect your KYC documents from your home address. You can open this savings account with ZERO Balance.
Today we are going to tell you about the bank from where you can open your savings account in just 5 minutes & immediately activating that also. You no need to deposit any single amount to an open saving account in this bank also.
So let see from how we can open the ZERO balance saving account in just 5 minutes.
How To Open Kotak 811 Saving Account In Just 5 Minutes.
Requirements:– 1. PAN Card & 2. Aadhaar Card
1. Firstly, Visit Kotak 811 Sign up Page.- CLICK HERE
2. Then, fill Details Like Name, Mobile Number & Email.
( Note: Enter Name and Email, from which you want to Open Bank Account. )
3. After Successfully Filling these details, Click on “Get 811″ Option.
4. You will Receive OTP on Your Registered Mobile Number. Verify It
5. Then, You will get Questions like Would You Like To Direct Benefit Transfer, Click on YES.
6. Now, You will see Get DBT benefits with 811 screens.
7. You have to select “I don’t have DBT linked to any bank account and wish to link it to 811”
8. Then, Click on the “Continue” button.
9. Then, You have to Fill Your Aadhar Details and PAN Number.
10. Now, Click on Agree on terms & conditions and then, click to continue.
11. Then, You will redirect to the page where all user details are pre-filled in the form.
12. After this, You need to fill other details like Salary, Occupation Details, Marital Status, Father’s name, and Mother’s name.
13. Scroll down and click on the Next button.
14. Now, add nominee details and Again click on Next Button.
15. Now, You have to make an appointment for full KYC verification.
16. Then, You have to Set Up PIN. Select M Pin.
17. Now, Enter Login and Password of your choice for Kotak 811 App.
18. Verify with OTP and your Sign up is Done. Your Kotak 811 Account is successfully Opened.
19. Now, Take All Details like Account Number, IFSC Code, VPA, and Other Details.
20. For Ease Of Use – Download Kotak 811 app from play store & Login with Above detail to start Operating Your Account
21. Enjoy !!
What is Kotak’s 811 Savings Account?
Kotak Mahindra bank saving account 811 is a very popular topic of discussion Because of its features. You can open your savings account Kotak bank in just 5 minutes with this Kotak 811 banks. You do not need many documents to open a savings account with this bank and the account will be activating immediately after providing minimum KYC documents which also verified online instantly.
Benefits and Features Of Kotak 811 Online Saving Account
- Transfer money instantly using BHIM UPI without the need for any bank A/C information.
- Easily transfer funds on the go without registering a beneficiary.
- Apply for a Kotak credit card. & Debit card.
- Re-generate your debit and credit card PINs instantly through Kotak bank application.
- In case of loss, temporarily turn off your Kotak debit card for security reasons via an application.
- Pay your credit card bill online instantly.
- Verify your bank statement. Book train tickets with IRCTC, shop at Flipkart, Goibibo and more at KayMall in Kotak app.
- Recharge your mobile and DTH and other subscriptions with ease.
- Buy and exchange mutual funds and track your investments.
The client can take advantage of all the services and products offered by a regular savings account. Uday Kotak mentioned the movement of an introduction of the plan as the moment of WhatsApp for the banking world. He would use Aadhar – OTP Authentication to open savings accounts on the mobile phone.
The client can use their kotak 811 accounts not only for the transaction but can also take advantage of other services such as loans and manage investments.
The reserve bank of India in 2015 has approved in principle 11 players for payment banks. Since then, leading players such as Tech Mahindra, the distribution services of Cholamandalam, Telenor, IDFC and Dilip Shanghvi of Sun Pharma have withdrawn their names. With the introduction of this plan, payment banks are further improved. Since the Kotak Mahindra Bank also has 19% stakes in the Airtel payment bank. When asking about the stage, Mr. Uday Kotak replied ” We are investors in Airtel Payments Bank and we have a 19 percent stake in it. We believe there is enough space for growth, so they will be complementary ”
He also said that the consumer profile for the Kotak 811 Plan is different from that of the payment banks.
With the launch of this plan, they are also trying to use a maximum of the mobile broadband wave that has been opened for the customer since the launch of Reliance Jio 4G services. It has also assimilated several applications such as Goibibo, Flipkart, PVR and many other merchants in a single application through the functions of Bank, Store, and Payment. Therefore, it has expanded its horizon and does not limit just being a bank account. It has covered all possible sets of features and services.
What is special about Kotak 811?
The process only takes 5 minutes to enroll in the plan. Start with the download of the application, which can be done through the Google App Store. After installing the application, you must enter the Aadhar number along with the PAN number. After completing some more details, the process is complete and the Kotak bank 811 is ready to use.
The benefits of the Kotak 811 plan are many and the following are some points that explain the advantages of the plan.
Maintain the zero balance and add up to 6% annual interest
You can open the account with zero balance and do not worry about keeping the minimum amount. Also, earn a good interest rate on your savings account that ranges between 5 and 6% per year. Obtain a 6% interest for savings account A with a balance of more than $ 1 lakh and up to Rs. 5 million. For the balance of the savings account of up to 1 lakh, earn 5% interest and for the balance of the savings account over 5 million euros, earn 5.5%. Therefore, there are no fines for not maintaining the minimum amount and enjoying interest on the balance maintained.
Scan and pay
With the help of the mobile application, customers can pay for groceries, purchases, tickets, movies and other requirements without cash or by exchanging their cards for payments. With this, you can simply scan and pay the bill. For now, scanning and payment through the mobile banking application is limited to only selected stores and outlets. But it will soon be available to many more stores for customer benefits by Kotak bank.
An application with multiple functions.
You can buy, book movie tickets, plane tickets, subscribe to magazines, etc. to through this single application. From now onwards, no active memory of your phone with multiple uses because one is enough for everyone and can perform all tasks.
Access the debit card virtually
The debit card made of plastic is a phenomenon of old age. Through this application, the introduction of the kotak 811 virtual debit card can now be installed on your mobile phone. Then, buy, pay bills or recharge your mobile phone, etc. in line with this virtual debit card within a few touches. It is safer and convenient for everyone.
Kotak’s 811 plan of Kotak Bank offer almost the same benefits that they offer any other account plan like EDGE Kotak Bank. Example – Kotak net banking, Kotak Credit Card.