Kotak Mahindra Bank Paperless Savings Bank Account with Unlimited Features – A step-by-step guide on the application process of Kotak 811 Zero Balance savings account, eligibility, documents to submit, and key points to consider.
Kotak Mahindra Bank (Kotak) is one of the well-known and renowned banking and financial services group headquartered in Mumbai, India. The Bank offers a spectrum of financial services that cater to every domain of life. With a huge network base of over 1,369 branches and 2,169 ATMs in India, Kotak is no doubt one of the leading players in the financial market. With a wide range of services encompass various sectors namely Banking, Mutual Fund, Stock Broking, Life Insurance, and much more, the bank serves to fulfill the varied needs of all the esteemed customers.
Kotak gives priority to its customers to save the future life of its customers and to earn high returns on deposits by providing several savings accounts that meet all types of individual needs of their customers. Customers can earn ROI of up to 6% p.a on deposits in the savings account. Customers can have the option to choose the best and perfect savings account that suits them best based on their financial status.
Kotak Mahindra Bank 811 Savings Account – Eligibility Criteria
While opening a savings account in Kotak Mahindra Bank, applicants should meet certain criteria.
- The applicant should be an Indian citizen.
- The eligible age of the applicant should be 18 years and above, except in cases of savings account for a minor.
- Customers who wish to apply for Kotak Savings Account should ensure a valid KYC documents proofs of his/her identity and address.
- Before opening a savings account in Kotak Mahindra Bank, customers should be able to make an initial deposit based to have a secure minimum balance requirement.
Documents to Procure while Opening Kotak 811 Savings Account:
Applicants should submit the following required standard documents to ensure the proper application process.
- Identity Proof – Passport copy, Certified Driving license, Eligible Voter’s ID card, etc.
- Address Proof – Passport copy, valid Driving license, Voter’s ID card, etc.
- Income Proof – Form 16 (only if PAN card is not available)
- A copy of PAN card
- Latest 2 passport size photographs
The Process to Open Savings Account in Kotak Mahindra Bank:
- Open this Link https://tinyurl.com/yay3c32y
- Fill the application form of Kotak Mahindra Bank Savings Account.
- To avoid rejection of application form, enter all required fields correctly.
- If an applicant faces any issues while filling the application form, they can contact any executive of the Bank for free assistance.
- Upon form filling and enclosing all documents with KYC form, individuals can visit the nearby bank.
- The bank executive will verify all your documents and all the details of KYC should match with the application form details.
- After the verification process, the account holder can now make an initial deposit at the cash deposit counter.
- Next, the bank executive will provide you the savings account along with a debit card and documents.
Key Points to Consider Before Opening Zero Balance Account:
- Applicants should ensure the minimum balance requirement in the account.
- If failed to maintain a minimum balance, penalty fees are entitled.
- Customers should check the interest rate over deposits for their particular savings account.
- Kotak users should also check the transaction and withdrawal limit per day.