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Zero Balance Account - Kotak 811

As a student or a young adult, it is natural to get confused about opening your first bank account. The Indian Banking sector is extremely vast. You see different banks and ATMs all around through the city. Banks can be of various kinds- Public Sector Banks, Private Sector Banks, or Regional Rural Banks (RRB). It is important to make the right choice when choosing where to make your first bank account. This article will tell you, why Kotak 811 is the right choice for you.

Kotak 811 is the name of the online, zero balance savings bank account of Kotak Mahindra Bank. The banking ecosystem has seen a wave of changes in the last few years. The new, modern day banking, is faster than ever, and operates seamlessly in a digital medium. The entire process is paperless.

Instant Account Opening

Unlike in traditional banking, you don’t need to physically go to the bank anymore to open a bank account. With Kotak 811, you can open a bank account in the comfort of your house. You can do so through your smartphone by downloading the app, or through the website by opening a browser on your laptop.

Documents Required

When you open your Kotak 811, you just need to submit your scanned PAN Card and your Aadhaar Card.  Submitting the documents only take a few minutes and you can do that from the comfort of your home.

No Minimum Balance Requirement

Most banks charge a fine if you fail to maintain a minimum balance in your savings account by the end of a month or a quarter. This can be tedious and burdensome for customers to keep a track. Luckily with Kotak 811, there is no such requirement.

Read: A to Z of Minimum Average Balance

Interest Rates Offered

Kotak 811 offers an attractive interest among the different bank accounts. It gives interest rate of up to 6% on their bank deposits while other banks give an interest of up to 3.25%.


The Kotak 811 account is highly secure and customers have little to no reason to worry about their deposits. The 811 account has a two-factor authentication process and uses a HTTPS Protocol. This ensures that virtual hacking becomes next to impossible and that the transactions occur seamlessly.

ActivMoney Auto Sweep Facility

The ActivMoney facility enables you to earn a higher interest rate by setting a sweep-in and sweep-out limit on your savings bank account, and converting the excess funds into a Fixed Deposit (FD).

A great deal of flexibility and liquidity is offered to the customer as funds can be added back to the savings account if the balance in your savings account drops below a certain point.

Instant Banking Solutions

You are offered various additional services with Kotak 811. You can open an Investment Account, Fixed Deposit (FD) or Recurring Deposit (RD) with a single touch using the Kotak 811 App on your smartphone. 

Virtual Debit Card

Gone are the days of plastic debit cards. Kotak 811 offers you a virtual Debit Card, which can be used via your mobile phones. This reduces the task of carrying a physical debit card, and streamlines all services, which can all be accessed through your mobile phones.

Scan and Pay

You don’t need to cash or cards to make payments anymore. With the digital economy amassing ground all through the country, with Kotak 811’s Scan and Pay feature, you can effortlessly make payments for shopping, groceries, entertainment and a lot more.

Deals on Shopping and Entertainment

You don’t need to download various different apps or carry coupons to book tickets or get great deals anymore. It is because Kotak 811 offers it all. With the Kaymall section on the app, you can book PVR tickets, shop on Flipkart, book flights, read magazines among several other things.

Basic Requirement for Account Opening

The very basic requirements for opening a Kotak 811 Account is that you need to be above 18 years of age, and be a Resident of India. In addition to this, to access some of the features listed above, you need to complete the full KYC (Know Your Customer) process.

With these reasons, we’re sure you have made your mind to open a Kotak 811 account. It is modern and simple way to bank. It saves a lot of time and effort which originally existed in traditional banking. All in all, Kotak 811 is one of the best online savings account and you can avail all the benefits by opening a 811 account.


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