Benefits and Features of Kotak Instant Account: Why It’s Worth Considering


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Kotak Mahindra Bank introduces the Kotak 811 Zero Balance Account, which takes 15-20 minutes to open and offers four different versions. The bank provides an interest rate of up to 4.00% per year.

This unique bank savings account, known as 811, doesn’t require a minimum balance and is offered by Kotak Mahindra Bank. It was developed following the government’s move to eliminate high-value currency notes on November 8th of the previous year.

To transition India’s economy to a cashless one, Kotak Mahindra Bank has introduced 811, a comprehensive digital banking system accessible through a dedicated 811 app on any smartphone. This Kotak Instant Account is designed for individual users only. Furthermore, Kotak Mahindra Bank provides other digital account options like the 811 Lite Savings Account and the 811 OTP Savings Account, catering to the diverse requirements of its customers.

Different Types of Kotak 811 Accounts

Applying for the Kotak 811 savings account is quick, usually taking less than 20 minutes. There’s no need for a minimum balance except for the Kotak 811 EDGE account. The Kotak mobile app provides access to the Kaymall e-commerce platform, offering deals from merchants like Flipkart. The virtual debit card can be utilised for various online purchases and transactions.

Kotak 811 Lite Account

For this account, there’s no need to maintain a minimum balance. However, it doesn’t provide physical or virtual cards. The account remains valid for one year starting from the opening date. If desired, an 811 Lite account can be changed into an 811 Edge account.

Kotak 811 Limited KYC Account

Maintaining a minimum balance is optional with this savings account. It remains valid for one year from the day you open it. While chequebooks come with a charge, you can still access this option.

Kotak 811 Full KYC Account

With a Kotak Instant Account, having a minimum balance is not a requirement. However, you must submit FATCA declarations and relevant documents to comply with KYC regulations. This account is tailored for those who prefer conventional savings accounts with unrestricted transactions. Upon request, you can also get a chequebook.

Kotak 811 EDGE Account

An average monthly balance of Rs 10,000 is necessary for this account type. You can use Kotak Bank ATMs without any limits or charges. Moreover, you can use the chequebook for free, up to 25 sheets per quarter. While the platinum debit card is available, it has an annual fee of Rs 150.

Features and Benefits of Kotak Each 811 Savings Account

811 Lite

  • A PAN card is needed to initiate this savings account.
  • Depending on the account type, you can maintain a monthly balance of up to Rs 10,000 and an annual balance of up to Rs 1 lakh.
  • After a year, the Lite account expires, and you must undergo the KYC process.
  • Debit cards or chequebooks are not necessary for this account.
  • Ideal for those who still need to link their Aadhaar numbers to their mobile numbers.
    This account type does not earn interest.

811 Limited KYC

  • Requires both PAN card and Aadhaar card submission.
  • You can deposit up to Rs 2 lakh annually and maintain a maximum balance of Rs 1 lakh.
  • Suited for yearly transactions within Rs 1 lakh.
  • An attractive 3.50% interest rate is provided on this Kotak Mahindra Zero Account.
  • After successful KYC, you have a year to convert your Lite account to a Limited account; otherwise, your account will be closed.

811 Full KYC Account

  • Hassle-free and straightforward account opening process.
  • No monthly minimum balance requirement.
  • Designed for long-term savings with unlimited transactions.
  • You can request a chequebook for your convenience.

811 EDGE

  • Similar to a regular savings account, except needing a minimum monthly balance of Rs 10,000 to maintain the account.
  • Non-compliance results in a 5% penalty on the shortfall.
  • Most of Edge’s services are free, but specifics and bonuses should be confirmed with the bank.
  • You can use the chequebook for free, up to 25 quarterly sheets.

How to Open a Kotak 811 Savings Account?

  • Go to the Android Play Store on your mobile device.
  • Download and install the Kotak Mobile Banking app from the Play Store.
  • Sign up using your Aadhaar number, PAN, and other personal information as required.
  • Create a personal mobile banking PIN for secure access.
  • Once you’re done, you can immediately start using your Kotak 811 account.

To apply for a Kotak Mahindra Bank 811 Savings Account, you need to fulfil the following eligibility criteria:

Age Requirement: You must be at least 18 years of age.
Citizenship: You must be an Indian citizen.
Documents: To open this account, you should have valid PAN Card and Aadhar Cards


The 811 Kotak Mahindra Zero Account provides a seamless and uncomplicated banking experience. Within just a few clicks, you can effortlessly monitor all your transactions. Moreover, it presents a range of features designed to facilitate smooth online transactions.

This account stands at the forefront of contemporary banking. With its fast and straightforward account opening process, it proves to be an excellent choice.

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