Kotak Mahindra Bank has made a very effective impact in the banking industry by introducing one of its kind app. Kotak 811 plan is an app which you can download from your phone. The app can be used to open a savings account, invest, pay, among other features.
In this article, we have provided all the features of Kotak 811 plan that makes it incomparable. You may also read about the different types of account that you can open under this plan.
Key Features of Kotak 811 Account
There are 3 types of Kotak 811 account and the features of each the types are as follows:
811 Savings Account
- India’s First downloadable account
- Zero balance account
- Instant Savings account with Aadhaar Card details
- Earn interest rate up to 6% per annum
- Virtual Debit card facility
- Free IMPS/NEFT using Net Banking and Mobile Banking
- Book movie tickets, flight tickets and shop online with Kotak 811 App
- Pay for instore purchase using Scan & Pay feature
811 Lite Savings Account
- Transact for up to ₹20,000 per month
- Comes with the validity period of 36 months from the date of savings account activation
- Complete full KYC within 36 months of account activation and upgrade your savings account to 811 Savings Account
- Shop, book movie and flight tickets without downloading other apps
811 OTP Savings Account
- Interest up to 6% per annum
- Zero balance savings account
- Instant savings account opening with Aadhaar Card details
- Online shopping with Virtual debit card
- Pay for instore purchase using Scan & Pay
There are n number of benefits of using this one-stop destination app called Kotak 811.
Zero balance account– You can now open zero balance account with Kotak 811 app and earn an interest rate of 5-6% per annum on your savings. You can get 6% per annum interest rate for savings account with the balance over ₹1 lakh and up to ₹5 crores. For the Savings Account balance up to ₹1 lakh earn the interest of 5% and for the saving account balance above ₹5 crores earn 5.50%. Hence, there are no penalties for not maintaining the minimum amount and enjoy the interest over the balance maintained.
Scan and Pay– You can make payments for the grocery, shopping, tickets, movies and other requirements without cash or swapping your debit or credit card.
Multi-purpose App- You can book movie tickets, flight tickets, shop, subscribe to magazines etc. through this single app called Kotak 811. In short, this app replaces all the other Apps on which you used to waste time.
Virtual Debit Card Accessibility- The introduction of 811 Virtual Debit Card replaces the plastic made the debit card as it is convenient, safe and can be accessed from anywhere at anytime. You just need to carry your mobile phone with yourself whenever you are paying bills or doing recharge or any other online payments in just a few minutes.
Get Loans and Make Investments- You can also apply for a loan from this app and not only this you can also make investments.
Kotak 811 Login
You can login into your account through Net Banking. The details of login including the customer ID (non-changeable) and login password (changeable). Once you get the details, you have to create a secure password which you will be using to login. It is advisable not to share these details with anyone including bank officials. You must know that no bank executive needs your login password, Credit Card number, etc. for any purposes. So, make sure these details are private to avoid any kind of fraud.
Kotak 811 Customer Care
For any kind of query related to this app, you can contact your nearest bank branch or contact the bank on the toll-free no. or write an e-mail or SMS Banking.