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5 Reasons why you may not be able to open a Kotak 811 Account

Kotak 811 Account is digital savings account. Customers can create the account online in a matter of a few minutes.  However, not everyone can open a Kotak 811 account.

Here are the reasons why you may not be able to open a Kotak 811 Account:

1.You may have an existing relationship with Kotak Bank

Kotak 811 is a digital savings account that is meant for new customers. So, if you already have a Kotak savings account, current account or have taken any form of loan from Kotak Bank, you won’t be eligible to open a Kotak 811 account.

If you are interested in opening a zero balance account, you can take a look at some of these zereo balance accounts.

2. Your address may not be serviceable

While banks are trying to have a pan India reach, few parts of the country are still unserviceable due to absence of bank branches or banking correspondents.

Although Kotak 811 is a digital savings account, the presence of the bank branch or banking correspondents is important for the full KYC process, delivering debit cards, cheque book etc.

Hence, in the current scenario, you may not be able to open a Kotak 811 from your selected address. You can try applying for Kotak 811 again after relocating to the different address. 

3. Your age is less than 18 years

Individuals only above 18 years can open a Kotak 811 account. If you are almost 18 years, you can wait for a few days and open the account after you turn 18.

Students savings account and kids savings account are available for prospective customers who haven’t yet turned 18.

4. You are not FATCA complaint

FATCA stands for Foreign Tax Compliance Act. It is incorporated to help streamline the tax reporting process so that there are no irregularities.

To be FATCA complaint, you need to be an Indian resident and pay taxes according to the Indian tax laws. If you are an NRI, or citizen of any other country, you won’t be able to open a Kotak 811 as you are not FATCA compliant.

If you are not an Indian resident, you need to open a NRO or NRE account as it is not legal to continue a regular savings account.

5. If you are politically exposed person

To contain the risks of money laundering, Politically Exposed Person (PEP) cannot open a Kotak 811 digital account.

According to the Reserve Bank of India, PEP is a person who is authorised to perform prominent public functions in a country and include governors of the state, members of Parliament, military officers, senior government and judicial executives and heads of local bodies such as municipal corporations, among others.

Also, a family member or a close relative of such an individual, individuals holding senior positions in political parties without any official position are considered as PEP.

Hence, if you are politically exposed person, you cannot open a Kotak 811.


You may not be able to open a Kotak 811 due to the above mentioned reasons. In such a scenario, you can opt for different banking products.  


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