Everything You Need to Know About Kotak 811 Plan

Everywhere people are talking about Kotak 811 plan but many of us are still not sure of the reason behind it. So, here we will be talking about each and everything about Kotak 811. Recently, Uday Kotak had announced Kotak Bank’s 811 plan which is the first ever digital account that can be downloaded and operated instantly. This product is going to be the game changer of the banking industry and is propelling the idea of digitization in India.

On 8th November 2016, when the demonetization move was taken by Prime Minister Narendra Modi, India took its first step towards becoming Digital India. Inspired by that move, Kotak 811 plan has been designed and the name itself has been derived from that day. You can simply Now, talking about the uniqueness of this plan, the list is long. So, let us have a look at the each and every benefit you can avail under this plan.

What are the benefits of Kotak 811 Plan?

There are n number of benefits of using this one-stop destination app called Kotak 811. Here is the list of benefits you can avail:

Zero balance account- You can now open zero balance account with Kotak 811 app and earn an interest rate of 5-6% per annum on your savings. You can get 6% per annum interest rate for savings account with the balance over ₹1 lakh and up to ₹5 crores. For the Savings Account balance up to ₹1 lakh earn the interest of 5% and for the saving account balance above ₹5 crores earn 5.50%. Hence, there are no penalties for not maintaining the minimum amount and enjoy the interest over the balance maintained.

Scan and Pay- With this mobile app, you can make payments for the grocery, shopping, tickets, movies and other requirements without cash or swapping your debit or credit card. All you have to do is scan the barcode and pay the bill which is temporarily limited to only a few selected stores and outlets.

Multi-purpose App- You can book movie tickets, flight tickets, shop, subscribe to magazines etc. through this single app called Kotak 811. In short, this app replaces all the other Apps on which you used to waste time.

Virtual Debit Card Accessibility- The introduction of 811 Virtual Debit Card replaces the plastic made the debit card as it is convenient, safe and can be accessed from anywhere at anytime. You just need to carry your mobile phone with yourself whenever you are paying bills or doing recharge or any other online payments in just a few minutes.

Get Loans and Make Investments- Along with other benefits, you can also apply for a loan from this app and not only this you can also make investments. What else can a person want in this busy world?

How to Use Kotak 811 App?

You can enjoy all the services and products just like a regular savings account. You can follow the below steps:

Download App- You can easily download Kotak 811 app from Google play store and start using it instantly.   

Provide Aadhar Number- You need to mention your Aadhar Number as it is required for the registration.  

Submit the OTP pin- You need to mention the OTP pin that you get on your registered mobile number for authentication to open the savings account on your mobile.

Kotak 811 Customer Care

For any kind of query related to this app, you can contact your nearest bank branch or contact the bank on the toll-free no. or write an e-mail or SMS Banking.

It is also expected that this plan is going to utilize a maximum of the mobile broadband wave which has been set open for the customer since the launch of Reliance Jio 4G services. It has also assimilated several apps like Goibibo, Flipkart, PVR and other merchants under this one app through Bank, Shop and Pay features. Hence, you can now expect a great change in the banking industry after the launch of Kotak 811 app.