Use Kotak 811 to Embrace a New Wave of Digital Banking in India

kotak 811 plan

As they say, nothing remains permanent and it is getting proved time and again by new innovations and developments across the industries. And when it comes to a banking industry representing a large bunch of customers looking to execute their day-to-day transactions with ease, innovations are bound to happen.

The latest innovation has been the launch of Kotak 811, a full-service digital banking initiative that has taken the industry by storm. By offering seamless banking services such as payment and transfer, Kotak 811 has created a rage among the customers who just do not seem to have enough of it and want more. So, let’s check out what this digital banking tool has in store for you.

Kotak 811 App – Easy to Download and Operate

Kotak 811 is a digital savings bank account which can be downloaded from Google App Store or by giving a missed call on **811 from your smartphone. The installation will begin and will take a few minutes to complete. Subsequently, you need to enter your Aadhaar, PAN and furnish other relevant details. After all these, the app is ready to take you through the comforts of digital banking.

Kotak 811 Packed with Benefits That You May Want

The app is loaded with benefits that a customer with a smartphone would want to avail. From zero balance account to utility bill payments, the app offers everything that a banking customer would want. So, let’s discuss the following kotak 811 benefits without any more delay.

Zero Balance Account – Yes, you can open a zero balance account with no requirement of maintaining a minimum balance. And what’s more, the interest rate on the account ranges from 5%-6% per annum. Those who keep the balance of up to ₹1 lakh would receive 5% interest rate, while account holders with a balance of ₹1 lakh – 5 crore will earn 6%. And if you exceed the balance from ₹5 crore, you can grow your savings account earning at the rate of 5.5%.

Virtual Debit Card Offer – The app also features a virtual debit card which you can use to pay bills and make a recharge of your mobile phones or DTH services, etc.

Scan and Pay Feature – This feature allows you to pay for your grocery and departmental store spends, along with flight and movie tickets without having to swipe your cards. You just need to scan and pay the bills.

Free IMPS/NEFT – You can login to netbanking using the app to transfer funds to the same bank or other bank accounts via Immediate Payment Service (IMPS) and National Electronic Fund Transfer (NEFT)

Deposit Services – You can deposit cash by visiting the nearest Kotak Mahindra Bank branch. Also, you can use NEFT/IMPS or use the payment gateway to transfer the money to your Kotak 811 account.

Enhanced Security Cover – With a 2-factor authentication, the app offers an additional layer of security for the transactions one would make with an app.

Eligibility Criteria

A resident Indian with an age of 18 years and above can apply for Kotak 811.

Shopping Offers on Kotak 811 Account

  • Shop for cakes & flowers at Ferns and and get a flat 18% discount. The validity of the offer exists till March 31, 2018.
  • Book your flight tickets and get a discount of ₹500 and ₹2,000 on your domestic and international expeditions, respectively. Hurry up as the offer is going to last till December 31, 2017.
  • Get 10% off on your shopping at Rentomojo, an online portal for furniture, appliance and bike rentals, using Kotak 811. All you need is to type voucher code – RMKOTAK and avail the discount on your shopping. The offer will remain valid till September 30, 2018.
  • Enjoy 25% off while shopping at Jabong by typing KOTAKJAB25 as a voucher code. You will get this offer up to December 31, 2018.
  • Shopping at Wills Lifestyle fetches you ₹500 off, with the offer likely to continue up to March 31, 2018.
  • Exclusive discounts up for grabs at Goibibo and Make My Trip till December 31, 2017
  • Get a discount of 20% at Myles till December 31, 2017. Type voucher code – Kotak20 to avail the offer
  • Ordering food at Foodpanda via Kotak 811 will fetch you a discount of 40% till December 31, 2017. Voucher code to avail the offer is FPKOTAK

Vikas Das is one of those expert writers in finance who has enlightened the readers about various banking and investment products like personal loan, home loan, car loan, mutual fund, fixed deposit and others.

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