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Kotak 811 – Zero Balance Savings Account

April 12, 2022

Want to know kotak811 account open? Well you have landed on the right article 

Savings accounts have been an integral part of the banking system in India and are the most commonly used type of bank account in the country.

Most banks offer regular savings accounts as means of saving money at a bank that offers a decent interest rate on the sum deposited.

Kotak has come up with a new kind of savings account with a digital twist. Unlike most traditional savings accounts, the Kotak 811 is a zero balance digital savings account, offering unique features.

In 2016, when the government of India discontinued Rs.500 and Rs.1000 currency notes, digital transactions boomed. More Indians embraced digital banking than ever before.

The Kotak 811 Zero balance digital savings account is inspired by the advancement of customers to digitization.

It is India’s 1st ever digital savings account that offers multiple benefits such as no minimum balance facility, online account opening, virtual debit card, and more.

Methods for Zero Balance kotak811 account open

In most cases, opening a bank account is a very tedious process. You may have to visit the branch multiple times, and submit hard copies of various documents along with an account opening form.

Most people find it an extremely time-consuming process. Kotak’s idea of shifting user experience from traditional ways of banking to a digital platform can be seen with their new offerings.

That’s why opening a zero balance Kotak 811 savings account can be done completely online. This pioneering step brought ease and convenience of opening a savings account without the headache of making frequent trips to the bank.

Kotak 811 digital savings account can be opened at the comfort of your home, by visiting Kotak’s website online. 

Kotak811 Account Opening

No more standing in the queues and waiting for your turn. The process to open a Kotak 811 savings account is completely online. In order to open a Kotak 811 digital savings account, visit Kotak’s official website or simply download the Kotak banking app from the App store or Play store.

The Kotak app is available for both Android and iOS.  Once you download the Kotak app or visit Kotak’s official website, you have to fill out an account opening form.

The process of opening a savings account can be done via Aadhaar card-based OTP. Aadhaar-based verification is mandatory as per the rules of the Reserve Bank of India (RBI).

Features and Benefits of Kotak 811 Savings Account

Benefits of Kotak 811 digital savings account:

  • Claim your financial freedom with a zero balance savings account. No need to maintain a minimum balance in your savings account

  • You can make transactions up to Rs.10,000 at once.

  • Easy and hassle-free online account opening process. No need to visit the bank. 

  • Auto sweep (sweep-in & sweep-out) facility to earn more interest on your money. 

  • Better flexibility to invest or liquidate your funds, as you need.

  • Seamless digital banking experience for every banking need. 

  • Kotak offers a facility for virtual debit cards as part of their environment-friendly initiative. You can use this card to shop online, make payments for electricity, DTH, mobile recharge, and more. You can even book tickets for trains or flights through the Kotak digital app. 

  • Kotak 811 digital savings account also offers a‘ Scan & Pay’ feature to make payments easy. 

  • Free money transfer without any hidden charges.

  • Kotak digital app is secured with two-factor authentication so that you enjoy a safe digital banking experience. 

  • Unlike the traditional way, you can get online video KYC done from your home. Once you complete the KYC verification process, you can enjoy benefits such as no limit of deposits or withdrawals, unlimited validity of your savings account with no need for any paperwork. 

  • You also get 24x7 account management services while signing up.

Interest on deposits:

You get the interest rate of 3.5% per annum, for your Kotak savings account. The amount of money maintained in your account is also a deciding factor in the amount of interest earned.

What is the eligibility for opening a Kotak 811 savings account?

To open any bank account, every customer must fulfil the eligibility criterion set by the bank. This practice is similar across all banks to ensure the smooth functioning of credit flow. The eligibility criteria for Kotak 811 savings account are as follows:

  • You must be an Indian citizen.

  • You must be 18 years of age, or above.

What documents are needed to open the Kotak 811 savings account?

Below mentioned documents are essential to open a new Kotak 811 savings account:

  • Aadhaar card

  • PAN card

A step-by-step guide to opening a Kotak 811 savings account:

Digital banking has changed the way we use banking in our day-to-day lives. Kotak is a pioneer in introducing a complete online banking experience. You can easily open a Kotak 811 savings account with this simple step-by-step guide.

Step 1: Open the browser and visit Kotak’s official website, or if you wish to use the Kotak app, you can simply download the app from the App store of Play store. The Kotak app is available for both Android and iOS. 

Step 2: Enter your details in the fields marked as mandatory - name, email ID, and mobile number. Click on option 811. 

Step 3: Enter One-time-password (OTP) received on your mobile number and click on the 'Next' option to proceed.

Step 4: In the next screen, you will need to confirm your Aadhaar card details. Select ‘yes’ if you wish to open an account and proceed further. 

Step 5: Enter your Aadhaar card and PAN number. Select the ‘next’ option to complete your account opening process.

Step 6: Accept the terms and conditions mentioned. You will receive a One-time-password (OTP) on your mobile number that is linked with your Aadhaar card. 

Step 7: You need to verify the address details mentioned in your Aadhaar card.

Step 8: Provide important details such as income, occupation, and marital status. You will also have to choose between ‘yes’ or ‘no’ to state whether you are politically exposed at any given point.

Step 9: Under tax resident status, select the option that states ‘Indian citizen’. 

Step 10: Now your account opening process is almost done. Add a nominee and provide their address and other details.

Step 11: Recheck all the details you have mentioned till now and click on accept the terms and conditions to proceed further.

Step 12: Lastly, complete your KYC process so that you don’t miss out on any KYC-related benefits. To complete your KYC process, you can schedule an appointment at your convenience. Mention your address details for this. 

Step 13: If you require loans or credit cards, Kotak will first analyze your credit score. 

Step 14: Your Kotak savings account will be ready once you set up mobile banking pins, MPIN, and a kotak811 net banking password.

Step 15: Your Kotak 811 digital savings account is now ready to use. You will receive a unique customer relationship number also known as CRN for a smooth experience in all your transactions.

Video KYC process:

The online video KYC process is very simple, all you need to do is book your KYC verification process on the app. You must submit your original Aadhaar card and PAN card for verification.

During the video call, a KYC agent will verify your details. After a successful KYC process, you will get Kotak’s approval within 8 hours.

Kotak 811 Limited KYC Savings Account 

  • Just like other digital Kotak accounts, you can open Kotak 811 Limited KYC savings account by visiting Kotak’s website or downloading the app.

  • You can enjoy this zero balance savings account as it has no minimum balance requirement.

  • You get a free virtual debit card, while the physical one is charged at Rs.199 per annum.

  • Kotak 811 Limited KYC savings account is valid for 12 months. You can get more details about account validity by contacting Kotak.

  • Transfer of funds via RTGS and NEFT has no charges. 

  • The single transaction limit for this type of savings account is Rs. 10,000.

  • You can make up to 5 free withdrawals by using your physical ATM card. However, after reaching a certain limit, withdrawals are chargeable.

Kotak 811 Lite Savings Account:

  • With Kotak 811 Lite savings account, you do not need to maintain any minimum balance. 

  • You get unlimited ATM withdrawals from Kotak bank, with no transaction fee charged.

  • You get the option of home banking at a minimum cost of Rs. 150 for every visit.

  • A virtual debit card is not available, however, you get a platinum debit card at just Rs. 150 per annum.

  • With Kotak 811 Lite savings account, you get 25 cheques leave every quarter.

Kotak 811 Edge savings account:

  • Kotak 811 Edge savings account can be opened online by visiting Kotak’s official website or Kotak app. 

  • The minimum balance requirement of this account is Rs.10,000.

  • You can avail platinum debit card at just Rs.150 per annum.

  • No charges on fund transfer using IMPS, NEFT, and RTGS 

  • Enjoy interest on savings up to 4% per annum.

Fees of Kotak 811 savings account:

Debit Card Annual Fees of Kotak 811 Savings accounts variants


Debit Card Annual Fees for Kotak 811 EDGE savings account


Fees for lost debit card replacement


Replacement of lost Debit Card (Kotak 811 EDGE)


Fees for Cash transaction 

1 free cash deposit per month up to Rs. 10,000 after this, the charges are:  Rs.4.50/ Rs.1,000 cash deposit.

ATM transaction fees

  • After initial 5 free transactions - Rs.20 per transaction.

  • After initial 5 free non-financial transactions - Rs.8.50 per transaction.

Other ATM transaction fees


  • Rs. 20 is charged per transaction, after initial 5 free transactions.

  • Rs.8.50 is charged per transaction, after the initial 5 free transactions 

  • If your transaction is declined, charges are Rs.25 per incidence.

For statements 

  • Zero charges if you opt for email statements.

  • Rs.100 is charged for every physical statement.

  • 50 paise is charged per SMS for transactions update.

Conversion Charges for

Foreign Currency 

  • Rs. 37.50 or 0.15% of the total gross value -  Up to Rs.1 lakh 

  •   Rs.150+0.075% of the amount   above Rs.1 lakh.

  • Rs.825+0.015% of the total amount, if exceeds Rs.10 lakhs (maximum of Rs.7,500).

What are the benefits and features of the Kotak 811 savings account?

Money-saving can be done in many ways, and choosing the right savings account is one of them. Kotak 811 savings account has many benefits that can help you save more money, as compared to a traditional savings account.

Apart from savings, you get numerous features that make your banking experience seamless, easy, and hassle-free. 

  • No minimum balance: Most savings accounts have made it mandatory to maintain a certain balance in your account. If you fail to do so, you are charged with a fine. Kotak understands this problem and has therefore introduced a zero balance savings account.

    This gives you complete financial freedom without the need to worry about fines or charges.

  • Environment-friendly initiative: For the first time in Indian banking history, Kotak has taken a unique step that has been appreciated by many. Under an environment-friendly initiative, Kotak has introduced virtual debit cards.

    You can now use this debit card for online shopping, payments, bills, or any online transactions. This initiative is not just a step towards saving the planet, but also provides a secure and easy banking procedure.

  • Easy money transfer: Transferring money often involves hidden charges or transaction fees. With Kotak 811 savings account, sending or receiving money is not chargeable and every transaction is done with complete transparency. You can easily transfer money by using RTGSa or NEFT. 

  • Unlimited validity: Kotak 811 accounts come with unlimited validity, unlike other bank accounts, making banking a truly hassle-free experience.

  • Secure banking: When it comes to money, safety is of utmost importance to any consumer.

    With two-factor authentication, Kotak takes the security of your banking and funds very seriously. For every transaction, a user needs to undergo a two-step verification process to ensure utmost security.

  • Online KYC with ease: To get your savings account started, you make numerous visits to the bank that involves time and effort. Along with online account opening, Kotak also provides an online video KYC process that can be done from the comfort of your home.

    All you need is to keep your original Aadhaar and PAN card handy.

  • Credit card without paperwork: You can apply for Kotak’s exclusive 811 #DreamDifferent credit card. This credit application process is completely online, without any tedious paperwork, or joining fee. 

  • Auto sweep feature: Kotak 811 saving account provides an auto sweep feature that helps you earn more interest on a FD, with better flexibility to liquidate your funds.

  • Kaymall: With Kotak 811 savings account, you can get access to Kotak Kaymall through which you can book train/flight tickets, shop online, book hotels, and much more. You can also use the virtual debit to get exclusive discounts available only at Kaymall.

Pros and Cons of Kotak 811 Savings account:


  1. Online account opening: The biggest pro of the Kotak 811 savings account is the online procedure. This saves a lot of time and energy spent on making numerous trips to the bank.

  2. Exclusive discounts: Kotak’s Kaymall is a great platform to shop online or make bookings as it offers exclusive discounts. Kotak’s customers get this added advantage, providing them with another way to save some money.
  3. Flexibility: Kotak is a truly customer-focused bank that knows what its customers wish for when it comes to banking. That’s why Kotak offers a great deal of flexibility in many aspects, such as opening an account online, zero balance feature and Auto-sweep mode. 

  4. A plethora of options: Kotak offers a wide variety of options for their savings account. These options are designed as per the needs of customers so that everyone has something to choose from.


  1. Kotak 811 does not offer a joint account.

Choosing the right bank and the right savings account is important to manage your finances. Kotak 811 savings account options are based on the diverse needs of customers, who not only want to save money, but also need ease of banking.

Kotak has multiple options, such as zero balance features, better flexibility, attractive interest rates, exclusive Kaymall discounts, and a lot more. 

I hope you liked our article on kotak811 account open, if you have any comments or suggestions do share them in the comments below. 

Frequently Asked Questions

Q1. What makes a Kotak 811 savings account a better choice than an ordinary savings account?

Kotak 811 savings account offers many attractive features. This account helps you save money by offering a zero balance facility, low or no transaction fee in most cases, a new-age banking experience and the ease of banking from home.

Q2. Is Kotak 811 account safe to use?

Yes, Kotak ensures complete security while banking, with a two-factor-authentication method. You can avail the benefits of online banking without any worry. Kotak uses firewalls and internal encryption systems to save your funds from any unauthorized access.

Q3. Can I open Kotak 811 savings account without an Aadhaar card?

Aadhaar card and PAN card are mandatory while opening a savings account. However, Kotak offers the ‘Kotak 811 Lite savings account’ which you can opt for, even if you do not have an Aadhaar card.

All you need is a valid PAN card and a few other documents for verification.

Q4. How to use a virtual debit card?

Using a virtual debit card is very simple. Once you open an account with Kotak, log in to your Kotak app with the help of your MPIN. Select option ‘811’ and go to the virtual debit card tab to know more.

You can use this virtual debit card to make all kinds of online payments. For physical payments, you need to apply for a physical debit card.

Q5. Which Kotak savings account provides a zero balance facility?

Kotak 811 Limited KYC, Kotak 811 Full KYC, and Kotak 811 Lite provide zero balance facility, which allows you to maintain no minimum balance in your savings account. 

Q6. How do I withdraw money from my Kotak 811 bank?

To withdraw physical money from your Kotak 811 bank account, you can either visit your nearest Kotak branch, or apply for a physical debit card online. 

Q7. What is the eligibility criteria to open a Kotak savings account?

RBI has certain account opening guidelines that every bank must follow. To open a savings account with Kotak, you need a valid Aadhaar card and PAN card.

In the absence of these documents, you can get in touch with a customer care representative or visit your nearest Kotak branch.

Ankur Aggarwal

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About the Author

Hi all, I am Ankur Aggarwal – Digital Marketer, Entrepreneur, Traveller, Blogger, and Foodie. Have been blogging since 2010. In 2016 I scored 99.2 percentile in XAT Exam for MBA, left that to pursue my Online business dreams.
The purpose of is to pass on 100% accurate, genuine and FREE information on Personal Finance, Entrepreneurship, Investing, Career, and Learning Digital Marketing Online. Know more about me here: About Ankur Aggarwal

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