If you also want a bank account with zero balance, then you can open an account in Kotak Mahindra Bank near you. Kotak 811 Savings Account is a zero balance digital savings account of Kotak Mahindra Bank in which there is no need to keep any minimum balance of any kind. You can open Kotak 811 Savings Account digitally from home, for which you do not need to go to any bank branch. Kotak Mahindra Bank provides you a free debit card on opening an 811 savings account. If you also want to open an account in this bank from home, you should know about it well. Who can open an account in this bank and its eligibility, benefits and how to open an account, you will get all this information in this article.
Kotak Mahindra Bank Overview
| Type of Fee | Charges |
| NEFT/IMPS/RTGS/Mobile Banking | Free |
| NEFT/RTGS through bank branch | A fee of up to Rs 40 is charged depending on the amount to be transferred. |
| Charges for non-maintenance of monthly average balance | No |
| CDM/Cash Deposit through Branch | Zero charges for one transaction or Rs 10,000 per month. Thereafter, Rs 4.5 will be charged per Rs 1,000. |
| Annual Fee | No |
| Statements and alerts | Physical detailing – Rs 100 per request. Email detailing – Free |
Benefits of opening the zero balance account
- No minimum balance required.
- 100% Digital Savings Account.
- 7% higher interest on savings.
- Free Virtual Debit Card/ATM.
- Easy account opening process.
- Easy transaction process.
- 10x Reward Points on every purchase.
Eligibility to open the account
- You must be a resident of India.
- You must be 18 years of age or above.
- You must have a valid PAN card and Aadhaar card.
- You must have a mobile number and email address.
Nominee details in bank account
- Enter the full name of the nominee.
- Select the relationship of nominee with the applicant.
- Enter the date of birth of the nominee.
- If the nominee’s address and your address are the same then click on the Yes option.
- If nominee’s address and your address are different then enter nominee’s address and click on Proceed option.
- Accept all the terms and conditions and click on the option Proceed to MPIN.
- Create your 6 digit master pin and re-enter it in the confirm section.
- After entering all the details complete the application through video call.
How to check bank balance
- Visit the official website of Kotak Bank https://www.kotak.com/en/home.html
- Click on this login button. If you do not already have a login ID, then register it first.
- After that enter your customer ID and password. After that click on the account section.
- To track your balance in Kotak Bank, click on Check Account Balance. After that your balance will be visible to you.
Kotak Mahindra Bank Customer Care
Kotak Mahindra Bank customer support service is amazing. You can contact them any time of the day for all your banking needs. You can call on two numbers to contact them:-
- 1860 266 0811
- 1800 209 0000
How to open the account online
- First of all you have to visit the official website of Kotak Mahindra or download the Kotak 811 app.
- After that open that app. In which you have to choose the option of Open Account.
- After that enter your name, address and Aadhar number in it.
- Fill in other required information in it. Verify all the documents by uploading the photograph.
- After the application process, an OTP will be sent to the mobile number linked to your Aadhaar number. Which you will have to verify.
- After completion of the application, your account will be activated and you will receive an ATM/Debit Card.
Bank Related FAQs
Do I need to visit a branch to open Kotak Zero Balance Account?
No, you can open it completely online or through the mobile app.
What are the documents required to open Kotak Zero Balance Account?
Applicants need to produce Aadhaar and PAN card to open Kotak Zero Balance account.
Can I open zero balance account in Kotak Bank?
Kotak 811 is a digital zero balance account that you can apply for online. The account opening process is seamless, and takes just a few minutes. Simply add your PAN and Aadhaar number and our bank representative will open an online savings account from the comfort of your home or office.
How much balance should I have in Kotak Mahindra Bank?
For managing an Edge Savings Account, a minimum balance of Rs 10,000 must be maintained in the account. In this, you get 6% interest on the balance. For an Edge Savings Account, a minimum balance of Rs 20,000 must be maintained in the account. In this, you get 6% interest on the balance.