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Kotak 811

Kotak 811 Student Savings Account

Student bank accounts or more specifically, student savings accounts are bank accounts opened by students with an aim to save. For years, banks tended to neglect student savings accounts as students were a demographic that did not have enough to ‘save’. However, banks have now realized that students and young adults are a key component to growth, especially in a country like India, where the major chunk of the population is between the age gap of eighteen to thirty-two.

Student savings accounts are meant to help those still in school and university grow their increasing income in the long term and learn financial responsibility. A student savings account is an interest bearing deposit account held at a financial institution that is provided at a modest interest rate. A savings account is beneficial and a brilliant way to save money.

As a student, the most primary concern is to spend minimum and save maximum. Following this principle, the Kotak Mahindra Bank has come up with the specialized ‘Kotak 811’ savings account option that is best-suited to meet the diverse needs of the students. Kotak’s 811 is a full-service digital banking option available to the account holders directly on their smartphones. The essence of the Kotak 811 student account is to ensure the ease of opening & maintaining the savings account by students with a range of high-end facilities. Right from enjoying the benefits of the zero balance banking to hassle-free shopping, bill payments, traveling, and entertainment experience –you can get it all under the single umbrella of the Kotak 811 savings account option.

Features of the 811 Digital Savings Account

1. Instant Account Opening

With the Kotak 811 Digital Savings Account, you don’t need to visit a bank branch or even leave the comforts of your home to open a student savings account, you can just open student bank account online. All that needs to be done is open the Kotak 811 page on your browser or use the app. Then, in order to access your account, seamlessly log in through the browser   or the app and continue to avail of every Kotak facility online.

2. No minimum balance commitment

Kotak 811 is the best bank to open savings accounts for students. With the Kotak 811 account, a student need not worry about paying penalties for low balance in account as you can open student bank account with zero balance. Students can thus, enjoy financial independence, freedom and security.

3. Best Interest Rates

Kotak 811 offers students an interest rate of 6% p.a. for a balance of Rs. 1 lakh upto Rs. 1 crore. A balance of more than Rs. 1 crore will give the student an interest rate if 5.5% p.a. and students can avail of an interest rate of 4.5% p.a. on a balance of up to Rs. 1 lakh.

4. Virtual and Physical Debit Card

A debit card is no more just a physical, plastic card that you must walk around with daily. Kotak 811 offers a virtual debit card which can be accessed through the secure app and be used to make online payments like shopping bills or recharging mobiles and so on. A physical debit card can be availed of by requesting for one through net banking or the mobile app and paying Rs. 199 + applicable GST per annum.

Eligibility

Any individual of the age of eighteen or older is eligible and is a resident of India with an Indian address is eligible to apply for a Kotak 811 account. In order to apply online, it is necessary that you have a PAN number or an Aadhar number (this is only applicable for individuals who are willing to open an account to receive DBT and willing to use their Aadhar number). Kotak 811 is also available for individuals who have no existing relationship with Kotak Mahindra. Furthermore, it must be noted that the Kotak 811 account cannot be opened jointly rather must be a single account.

You can now open a student bank account at Kotak- the best bank to open savings account for students and avail of the Kotak 811 account by downloading the Kotak mobile banking app Android / IOS or just click here and open a student bank account online instantly.

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As a student, the most primary concern is to spend minimum and save maximum. Following this principle, the Kotak Mahindra Bank has come up with the specialized “Kotak 811” savings account option that is best-suited to meet the diverse needs of the students. Kotak’s 811 is a full-service digital banking option available to the account holders directly on their smartphones. The essence of the Kotak 811 student account is to ensure the ease of opening & maintaining the savings account by students with a range of high-end facilities. Right from enjoying the benefits of the zero balance banking to hassle-free shopping, bill payments, traveling, and entertainment experience –you can get it all under the single umbrella of the Kotak 811 savings account option.

Here are some of the additional benefits offered by the Kotak 811 students’ savings account facility:

  • Up to 6 percent rate of interest p.a. upon savings
  • Zero balance banking facility
  • Ease of Internet & mobile banking
  • Virtual debit card for the ease of online transactions
  • Scan & Pay for entertainment, bills, groceries, cabs, home deliveries, and so more

You can now open Kotak 811 account by downloading the Kotak mobile banking app Android / IOS or just click here and open account instantly.

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