Hello, friends lifeinawind.com welcome you all visitors. In this post, we will help you to open a Kotak Mahindra Zero balance account by our simple guidelines and steps. From launching Kotak Mahindra Finance Ltd. in 1985 to becoming one of the country’s most trusted financial institutions today, it’s been quite a journey. So read our full article and get help to open your Kotak Mahindra Zero balance account online. Keep scrolling and get the information.
Table of Contents
Kotak Mahindra Bank
Kotak Mahindra Bank (the Bank) is the flagship company of the Kotak Group. It is one of the fastest-growing banks and the most admired financial institution in India. The Bank offers transaction banking, operates lending verticals, manages IPOs, and provides working capital loans. The principal business activities of the Bank are organized into consumer banking, commercial banking, corporate banking, treasury, and other financial services. As of 31 December 2020, the Bank had 1603 branches and 2573 ATMs across the country.
The Bank along with its subsidiaries offers a comprehensive range of financial products and services to its customers. The key businesses are commercial banking, investment banking, stock broking, vehicle finance, advisory services, asset management, life insurance, and general insurance. The Bank offers complete financial solutions for infinite needs of all individual & non-individual customers depending on the customer’s need – delivered through a state-of-the-art technology platform. They also offer investment products like Mutual Funds, Life Insurance, retailing of gold coins and bars, etc. Apart from Phone banking and Internet banking, they offer convenient banking facilities through Mobile banking, SMS services, Netc@rd, Home banking, and BillPay facility among others.
Features of 811 Kotak Mahindra Zero Balance Account
Instant Account Opening
Unlike in traditional banking, you don’t need to physically go to the bank anymore to open a bank account. With Kotak 811, you can open a bank account in the comfort of your house. You can do so through your smartphone by downloading the app, or through the website by opening a browser on your laptop.
Documents Required
When you open your Kotak 811, you just need to submit your scanned PAN Card and your Aadhaar Card. Submitting the documents only take a few minutes and you can do that from the comfort of your home.
No Minimum Balance Requirement
Most banks charge a fine if you fail to maintain a minimum balance in your savings account by the end of a month or a quarter. This can be tedious and burdensome for customers to keep track of. Luckily with Kotak 811, there is no such requirement.
Interest Rates Offered
Kotak 811 offers an attractive interest among the different bank accounts. It gives an interest rate of up to 4% on their savings account deposits
Active Money Auto Sweep Facility
The Active Money facility enables you to earn a higher interest rate by setting a sweep-in and sweep-out limit on your savings bank account and converting the excess funds into a Fixed Deposit (FD).
Instant Banking Solutions
You are offered various additional services with Kotak 811. You can open an Investment Account, Fixed Deposit (FD), or Recurring Deposit (RD) with a single touch using the Kotak 811 App on your smartphone.
Virtual Debit Card
Gone are the days of plastic debit cards. Kotak 811 offers you a virtual Debit Card. Which can be used via your mobile phones. This reduces the task of carrying a physical debit card and streamlines all services.
Kotak Mahindra Zero balance account opening process
Please follow these steps to open a zero-balance account.
1) Visit Kotak’s official page and first Add your basic details Add your name, phone number, and email id.
2) Verify your phone number and enter the OTP. That has been sent to your mobile number.
3) Next you need to give consent that you are using your Aadhaar voluntarily. Select Yes if you want to open the account with your Aadhaar details.
In case you don’t want to use Aadhaar, you can open Kotak 811 Lite.
4) Now enter your Aadhaar & PAN number. Click on ‘Next’.
5) In this step, you are accepting that you haven’t opened an Aadhaar based OTP account with any other bank.
6) Add Aadhaar OTP that is sent to your Aadhaar registered mobile number. And click on Continue.
7) Your Aadhaar address will be fetched from the UIDAI database.
8) Add your personal details such as occupation, father’s name, gender, annual income, etc.
9) Now include nominee details. It is better to add nominee details so that your family doesn’t have any problems after your demise. You can also skip the part.
10) Next review your details, and check your profile details, address, and nominee details.
11) Give declaration tick the boxes. You can choose to receive updates on Whatsapp.
12) Choose a meeting address you can select any Kotak Mahindra Branch, your Aadhaar address, or a new meeting place.
14) Set your passwords, set your net banking password, and 6-digit mobile Banking PIN(MPIN). Confirm password and PIN.
Overview Businesses of Kotak Mahindra Bank
Kotak Mahindra Bank Ltd
In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received a banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.
Kotak Securities Ltd
Kotak Securities is one of the largest broking houses in India with a wide geographical reach. The securities operations include stock broking and distribution of various financial products including private and secondary placement of debt, equity, and mutual funds.
Kotak Mahindra General Insurance Company Ltd
KM General Insurance Company Ltd (Kotak General Insurance) is a 100% subsidiary of Kotak Mahindra Bank Ltd. Kotak General Insurance provides service in the growing non-life insurance segment in India.
Kotak Mahindra Capital Company (KMCC)
KMCC is a full-service investment bank in India offering a wide suite of capital market and advisory solutions to leading domestic and multinational corporations, banks, financial institutions, and government companies.
Kotak Mahindra Prime Ltd (KMPL)
KMPL is among India’s largest dedicated passenger vehicle finance companies. KMPL offers loans for the entire range of passenger cars, multi-utility vehicles, and pre-owned cars.
Kotak Mahindra Asset Management Company Ltd (KMAMC)
KMAMC offers a complete bouquet of asset management products and services that are designed to suit the diverse risk-return profiles of each and every type of investor.
Kotak Investment Advisors Limited (KIAL)
Kotak’s Alternate Assets group has raised multiple funds across different asset classes and strategies including PE Funds, Real Estate Funds, Infra Funds, Special Situations Fund, and Listed Strategies, all led by independent investment teams.
Kotak Mahindra Life Insurance Company Ltd
It is a 100% owned subsidiary of Kotak Mahindra Bank Limited (Kotak). Kotak Life provides world-class insurance products with high customer empathy.
Conclusion
Friends, we have given all information about the Kotak Mahindra Zero balance account opening online process. We hope you all liked this article. Please like and share our articles with your friends and on social media. And please support us by subscribing to our articles by clicking on the One-Signal Push Notification bell icon. Lifeinawind.com will publish more important articles in the future to make your life easier with today’s technology.
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