A savings account is one of the most important financial products and is necessary for everyone who needs to have money saved. For major banking and financial services companies, it’s a great way to get new customers and retain existing ones. Experts agree that it’s a good thing to open an account, but they say that maintaining the minimum average balance is essential – otherwise, you won’t be able to take advantage of the great deals. Having said that
Ever opened a savings account with the bank and were asked how much you would like to deposit? And you can’t help but feel that no matter what amount you choose, it’s too much for a bank. Or maybe you think it is not enough. Not to worry! This is where the Zero Balance Savings Account comes into the frame. While banks are looking for ways to benefit from you, you can use the opportunity fully. Most banks offer accounts with a zero balance. These are like regular savings accounts but offer a way for customers to save without maintaining a minimum average balance. One such Bank is Kotak Bank – Kotak Bank has come up with its Kotak 811 scheme where customers can apply for a Zero Balance Savings Account without any hassle.
Why KOTAK 811?
The very idea that you don’t have to maintain a minimum balance to keep a savings account might be music to your ears. Kotak Bank, an Indian private sector bank is giving new offers to its customers in the form of Kotak 811 accounts. The bank has introduced this account with the intention to give a financial boost to the common public. The Kotak 811 Savings Account can be opened in minutes and also is one of the most popular savings accounts to open. The Kotak 811 account comes in four different variants and each has its own benefits.
The interest rate on the bank’s 811 Edge account is 3.5 percent per annum. You’ll need to maintain an average monthly balance of 10,000 rupees for this account to earn interest. Kotak Mahindra Bank launched its 811 accounts last November, in response to the Indian government’s decision to remove certain currency notes from circulation.
Customers do not have to worry about anything once they are linked with Kotak 811. This is because of the best-in-class customer service support provided by Kotak 811. In case of any doubts, they can get in touch with the customer care executives who are available round the clock busy solving the queries and clarifying doubts as well as instilling confidence in them regarding investing and future planning.
KOTAK 811 Customer Care
If you are an existing Kotak 811 customer, you can call the Kotak Mahindra bank customer care helpline number at 1860 266 0811 to get a quick response to your 811 account-related queries. The helpline is available for customers in India between 9:30 AM to 6:30 PM (Monday through Saturday except for holidays and 2nd & 4th Saturdays). Although the number cannot be connected from abroad.
FAQ's
You can submit such queries to the bank through the mailbox available in Net Banking. To do so, log on to your Net Banking account and select the ‘Take me Directly to’ – Mail option while logging in.
Keya is a chatbot available by Kotak Bank to help customers with quick responses to their queries.
The validity of the 811 account lasts for 12 months from the date you open it.
Yes, you can easily deposit your money to the 811 accounts through net banking or mobile banking.