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When you look forward to opening a Savings Account, the restrictions of maintaining a certain amount of balance usually leads to troubles. After all, it doesn’t seem to be a possibility for everybody to maintain the balance, right?
To avert this exact problem, zero balance accounts turn out to be the rescuers. Basically, such accounts don’t pose any limitations in terms of the balance that you have to maintain. Although a variety of banks offer this Facility, Kotak 811 account stands out from the rest.
With the ease of opening this account within a few minutes, it comes in four different variants. And as far as the interest rate is concerned, it can go anywhere from 4% to 6% PA based on the amount available in the account.
Basically, this one is for single users; however, it offers several sorts of digital services. In this post, let’s delve into this account and understand more about the same.
There are four major types of Kotak 811 that you can find, such as:
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In the table mentioned below, find out more about what gets covered under each of these variants:
|Features||811 Limited KYC||811 Lite||811 Full KYC Account||811 Edge|
|Minimum Monthly Balance||Nil||Nil||Nil||Rs. 10,000|
|Kotak 811 Interest Rate||4% - 6% p.a.||Nil||4% - 6% p.a||4% - 6% p.a|
|Validity||12 months||12 months||NA||NA|
|Credit Per Year (Max)||Rs. 2 lakhs||Rs. 1 lakh||Unlimited||Unlimited|
|Kotak 811 Debit Card||Rs. 199 p.a.||NA||Rs. 199 p.a.||Rs. 150 p.a.|
Opening this account is one of the easiest processes. Simply follow these steps, and you will be done:
And thus, you can begin using your account instantly.
If you wish to avail additional services from this Kotak zero balance account, there are extra charges that you would have to pay. The below-mentioned table will help clear out the doubts:
|Classic Debit Card Annual Fees||Rs. 299|
|Debit Card Replacement Charges||Rs. 299|
|Cash Transaction Charges||Transaction up to Rs. 10,000 is free per month; after that, charges of Rs. 3.50 per Rs. 1000 cash deposit|
|ATM Transactions||Up to 5 transactions free every month; after that Rs. 20 per transaction for financial and Rs. 8.50 per transaction for non-financial|
Kotak customer care number is
1860 266 2666. For any 811 related queries, you can dial
1860 266 0811 between 9:30 a.m. to 6:30 p.m. from Monday to Saturday.
A dedicated 24* 7 toll-free number
1800 209 0000 is also available for any fraud or unauthorized transaction queries.
Opening Kotak 811 account is one of the simplest processes that doesn’t come with any hurdles. Therefore, dig deeper and find out more relevant information regarding each of these variants and find the one that suits your requirements.