How To OPEN ZERO BALANCE SAVINGS ACCOUNT
OPEN ZERO BALANCE SAVINGSACCOUNT ONLINE & GET UP TO 7%*P.A. WITH
features that let you carry out banking and do much more with just a few taps
While everyone needs a Savings Account for banking, no one likes to worry about maintaining a minimum monthly balance. If you don’t want to deal with non-maintenance charges, Zero Balance Savings Account is here for you! No minimum balance requirements, no annual maintenance charges, no penalties for non-maintenance, free account opening with an instant virtual debit card, and much more. Say no to balance requirements and yes to truly free personal banking with Kotak811.
Features of Zero Balance Savings Account
1. 7%* interest p.a. with ActivMoney
2. Paperless Process
3. Aadhaar and Pan Verification
3. Instant Virtual Debit Card & Credit Card Against FD
4. No charges for non-maintenance
1. Earn up to 7%* interest per annum on your account balance with ActivMoney
2. No need to maintain any minimum balance in your account.
3. Get instant Virtual Debit Card and Lifetime free Credit Card (subject to eligibility).
4. Free digital transactions like NEFT, IMPS, UPI, Pay your contact, Scan & Pay.
5. 24/7 access through the Kota811 App and Internet Banking.
6. Unlimited account validity and unrestricted deposits and spends.
7. There are no charges or fine for non-maintenance of the minimum balance.
8. Transfer money online for free and with ease from your zero balance account.
9. 180+ features.
10. With a Zero Balance Account you can apply for an Credit Card Against FD without paperwork or joining and Annual Fee.
1. Account Opening - Free
2. Non-maintenance - No charge
3. Average Monthly Balance - Zero
4. Debit card virtual - Free
5. Funds Transfer - NEFT / RTGS / Funds Transfers / IMPS (Through Net / Mobile Banking)
6. NEFT / IMPS - Nil Charges; (RTGS - Not available)
7. Outward fund transfer is not available
8. Annual Fee - Nil
9. Basic debit card - ₹299
10. Image Debit Card - Rs. One time image cost plus ₹299
11. Card Replacement Fee - ₹299
12. ATM Charges (beyond free transactions) - For Financial Transactions: ₹21
13. For Non-Financial Transactions: ₹8.50 on domestic ATMs of other banks
Are you looking to open a new zero balance account online? Now, open a zero balance account using your Aadhaar and PAN Card along with other details. Kotak811 is a zero balance savings account that can be opened online by everyone (Resident Indian individuals only).
Kotak811 Savings Account lets you apply for a zero balance savings account or an 811 Edge savings account based on your needs, which acts as a one-stop solution for all your financial needs and day to day transactions.
Apply for a Zero Balance Savings account and grow your money by booking a Fixed Deposit of a minimum of ₹5,000. The savings account also lets you transfer funds, pay bills and do things more easily. Explore Zero Balance Account Opening Online with Kotak811. Whether you are at work, home or vacation your Kotak811 Zero Balance Savings Account is always with you.
6 Things You Should Know About Zero Balance Savings Account:
1. There are no minimum balance commitments in a zero balance savings account. So, you can spend even the last rupee in your account without worrying about penalties.
2. You can open a digital zero balance account online from the comfort of your home. All you need is your PAN and Aadhaar number.
3. Earn the prevailing interest on your zero balance savings account deposits.
4. With your zero balance account, enjoy facilities such as debit cards, cheque books, internet banking and mobile banking.
5. Open a zero balance savings account instantly through Aadhaar OTP verification.
6. Complete the full KYC process of your account through in-person verification within 180 days from account opening by visiting your nearest bank branch or booking an appointment.
Why Should You Choose a Zero Balance Account?
1. No minimum average balance: Make the most of the no monthly average balance maintenance requirement.
2. Paperless account opening process: Choose the convenience of opening a zero balance account online in 3 minutes - anytime, anywhere.
3. Additional benefits: A free virtual debit card, plus cash and cheque deposits at the bank’s branch.
4. Digital payments: Make digital payments easily using NEFT, UPI and Scan & Pay.
Zero balance account opening online can’t be any easier. Key in your PAN and Aadhaar details and complete the VKYC to enjoy the unlimited benefits of the 811 digital savings account. Get a simplified banking experience for all your financial needs. Start saving with the trust of Kotak Mahindra Bank and the multitude of features of a savings account. One account is all you need to take care of savings, investments, credit cards, shopping, loans, and much more. Now is the time to get more done with Kotak811 zero balance account. Just don’t Bank, let your money grow.
Frequently Asked Question
What is a zero balance savings account?
A zero balance savings account is a bank account that does not require customers to maintain minimum balance. You also have an option of online bank account opening with zero balance.
How to open 0 balance account online?
Open zero balance savings account instantly through PAN and Aadhaar OTP verification. Use Kokat811 Website or Download Instant Savings Account Opening App
Can i open a 0 balance savings account online?
Yes, Kotak811 Zero Balance Savings Accounts can be opened online using Kokat811 Website or 811 App"
Who can open a 0 balance savings account?
Citizen of India, Aged 18 and above along with Aadhaar and Pan Card
Zero balance savings account that can be opened online in 3 minutes by everyone (Resident Indian individuals only). Savings Account lets you apply for a zero balance savings account or an 811 Edge savings account based on your needs, which acts as a one-stop solution for all your financial needs and day to day transactions.
How to use the zero balance savings account online?
Just log in to your account using your mobile number/customer ID, authenticate via OTP, and you can use your account online.
What are the interest rates on online bank account opening with zero balance?
You can get up to 7%* interest on your savings with ActivMoney.
How to open bank account online?
It is easy to open an online bank account in few minutes. You need to visit our website or download the App. Share some basic information. The entered details will be validated at our end. The next step is to complete your KYC online or offline. Either you can book an appointment with a bank official to complete the video KYC process from the comfort of your home or visit the nearest branch to submit the KYC documents. Online bank account opening with zero balance is quick and easy with Kotak811 Instant Savings Account Opening App.
Steps to open bank account online
1. Download the Instant Savings Account Opening App or visit the website.
2. Share your name, contact number and email ID
3. You will receive an OTP to validate your mobile number.
4. After verification, the bank will ask for your PAN and Aadhaar.
5. Enter the OTP you have received on your Aadhaar registered mobile number.
6. Accept the terms and conditions
7. Your account is ready
What is a secured credit card?
A credit card issued against a fixed deposit is a secured credit card. It is ideal for people who are new to credit, or have a low CIBIL score.
Why is an FD needed to get a credit card?
In case, your credit score doesn’t match the eligibility criteria to issue an unsecured credit card, you can still get a credit card by opening a refundable fixed deposit account with us.
What are the benefits of a secured credit card?
1. You earn interest on the FD account.
2. Use the credit card to avail exciting reward points.
3. You can build your credit score
What are the features of a secured credit card?
1. Interest on the FD account.
2. Availed credit limit is 90% of FD amount.
3. 2 rewards on every ₹100 spent online
Kotak Bank Registered Address: 27BKC, C 27, G Block, Bandra Kurla Complex, Bandra (East), Mumbai, Maharashtra, 400051
*How ActivMoney works? & ActivMoney Terms and Condition
IMPORTANT: Please ensure that you complete your Full KYC within 180 days from account opening to enjoy uninterrupted services at all times. If Full KYC is not completed within 180 days from account opening, your account will be blocked from transactions. However, you would still be able to complete your Full KYC and resume banking easily. If Full KYC is not completed within 365 days from account opening, your account will expire permanently with no possibility of reactivation.
Aadhaar Disclaimer:
Providing Aadhaar is voluntary. Scan and Pay through your Kotak Mobile Banking App at select in-store outlets.
ActivMoney Disclaimer:
Liquidated Dep2 for ₹25, 000 and liquidated in part for ₹15,000 from Dep1 to honour the cheque of ₹40, 000 as breaking of FD is done in multiples of ₹5,000. Dep2 will earn interest for 15 days at the applicable rate without penalty (on LIFO basis) as it exceeds 7 days which is minimum period required to be eligible for interest and ₹15,000 liquidated from Dep1 would earn eligible interest for 16 days.
Applicable for Resident Indian Individuals only w.e.f. Jun 13, 2022, daily balances in Savings Account above Rs. 50 lakhs will earn 4% interest p.a. Daily balances in Savings Account up to Rs. 50 lakhs will continue to earn 3.50% interest p.a. These interest rates are applicable for Resident Accounts only. Issuance of credit cards is at the sole discretion of Kotak Mahindra Bank Limited. All features and benefits are subject to Credit Card Terms and Conditions. Please read the Credit Card terms and conditions carefully provided on the bank website https://www.kotak.com/en/home.html
Kotak811Instant Savings Account Opening AppUPI Payment App811 Digital Savings Account811 Edge Savings AccountActivMoneyInsights
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