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Is Kotak 811 a Good Student Account?

kotak 811 student account

Most regular savings accounts are aimed at professionals or salaried individuals that can maintain an average balance account in the account. On the other hand, many student savings account come with several restrictions. In this situation, Kotak 811 can be a good student account option for individuals who are above 18 years of age.

Kotak 811 as a Student Savings Account

Kotak 811 Account has many features that make it an ideal bank account for students. Here we will note some of these features and benefits of the account:

1. Instant Account Opening

Today’s youth want everything instantly. Going to the bank account, filling up forms and waiting for a few days to open an account doesn’t appeal to today’s students.

In that respect, Kotak 811 allows students to open an online savings account within a few minutes. You just need to visit the bank’s website or download the app and add your PAN, Aadhaar and few other details to open the account in a completely paperless way at any time.

2. No minimum balance commitment

As Kotak 811 is a zero balance savings account, it is one of the best savings account for students. As most students depend on their parents to provide them for their monthly allowances, which can be as cash or bank transfer, maintaining a minimum average balance may not be easy for most students.

So, students don’t have to worry about keeping a minimum balance and still enjoy all the benefits of the account.

Read: You Don’t Have to Keep the Minimum Balance Daily

3. Earn Interest

Kotak offers attractive interest rate that students can earn on their balance. The current interest rate of up to 4% is higher than the interest rate of most top banks.

Read: Top Banks that offer High Interest on Savings Accounts

4. Free Virtual Debit Card

Students receive an instant free virtual debit card after the bank opens their account. One can access the virtual debit card details through the bank app or net banking portal and use it like a regular debit card to pay at online shopping sites or pay the bill. Just save your card details on your favourite shopping sites for faster checkout.

5. Contactless ‘Scan & Pay’ Option

In the current situation, contactless payment options have become the new norm. Plus, it’s safer than dipping your card or paying cash. The ‘Scan & Pay‘ option available on Kotak App allows customers to scan the QR code and pay. The money is instantly credited to the beneficiary’s account.

The ‘Scan & Pay’ option also helps to transfer money to your friends and family members who don’t have Kotak account.

6. Use it to save for goals

If you have a primary account opened by your parents, students can use Kotak 811 to save up to fulfil their financial goals. Saving money in your primary account can be a hard task. With a secondary account, you can transfer a certain sum of money from your primary account to 811 account towards your goals.

7. Receive money from side hustle

Students who have side hustles can use Kotak 811 to receive money. In that way, your income from your side hustles will continue to accumulate in your account and earn interest.


While Kotak 811 is a regular savings account, it is also a good option for students. Students can use Kotak 811 as a student account or as a secondary account to save money to achieve financial goals or receive payments.

The various features of the account such as no minimum balance, instant account opening process, attractive interest rate make Kotak 811 a good student account.

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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