Kotak 811 savings account interest rate


Kotak 811 is a zero-balance savings account that offers convenience and helps you earn interest on your money. Interest is calculated daily and added to your account every three months.

Current Interest Rates for Kotak 811 savings account

Kotak 811 savings account holders enjoy the following interest rates:

  • Up to ₹50 lakh: 3.50% p.a.
  • From ₹50 lakh to 100 crore: 4.00% p.a.

 

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How is Interest calculated for Kotak 811 savings account?

  • The bank calculates interest rates based on the daily closing balance.
  • The interest is credited every quarter.
  • Its ActivMoney feature automatically converts excess funds into fixed deposits, so the account holder makes higher returns on average.

Who is Eligible to Earn Interest?

  • All the account holders who have an active Kotak 811 account (excluding 811 Lite)
  • He or she must complete the minimum KYC to activate interest-earning features

Click here to check your eligibility and open a Kotak 811 Zero Balance Account online.

How to Check Earned Interest on Kotak 811 Account

Follow these steps to check your Interest on Kotak 811 Account.

  • Open the Kotak 811 Mobile App.
  • Click on Account Summary or Interest Statement.
  • Download quarterly Bank Statements for detailed records.

 

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Benefits of Kotak 811 Savings Account

Other than the direct interest rate, Kotak 811 offers various benefits to enhance your banking experience. Here are the key benefits:

  • Zero Balance: No minimum balance penalties.
  • Online Apply: Users can open their Kotak 811 account online within just 5 minutes by using their Aadhaar and PAN.
  • Virtual Debit Card: It instantly issues a virtual debit card for online shopping or other transactions.
  • User-friendly mobile app: Make money transfers, bill payments and manage investments.
  • Add-On Services: It gives access to mutual funds, insurance, and more within the app.

Discover the key features and benefits of Kotak 811 Zero Balance Account.

What Is ActivMoney and How It Works:

ActivMoney is a unique feature of the Kotak 811 Savings Account that allows users to maximize their earnings. It removes the hassle of managing investments manually with guaranteed higher returns. Here’s how it works:

  • Automatic FD Conversion: It automatically converts the account balance of more than ₹25,000 into fixed deposits.
  • Higher Interest Rates: These FDs earn higher interest of up to 7% per annum (p.a.) in comparison to the standard savings account rates of 3.50–4.00% p.a.
  • Penalty-Free Withdrawals: You can instantly withdraw these ActivMoney FDs in case of emergency, and you won't be charged any penalty.

 

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Kotak Mahindra Bank Credit Card

Frequently Asked Questions

You can deposit cash at the nearest Kotak Mahindra Bank branch. Other options include net banking, payment gateway using your debit card, or NEFT/IMPS transfers.

The Kotak 811 account is valid for 12 months from the date of account opening.

Visit the nearest Kotak Mahindra Bank branch for in-person verification. You can also book an appointment through the mobile banking app or by calling 1860 266 2666. The process takes about 5 minutes once Aadhaar details are verified via biometric device.

It is a digital debit card available in your mobile banking app. It can be used for online shopping, bill payments, and mobile recharges.

Yes. After opening your 811 account, you can request a physical debit card for a charge of Rs.199 per annum.

It is a hybrid savings account offering features of both Kotak 811 and regular savings accounts. A minimum balance of Rs.10,000 is required. It includes a platinum chip debit card and free ATM transactions at Kotak branches. You can upgrade from 811 to 811 Edge.

Kotak uses advanced security features like firewalls and internal system encryption to safeguard your banking information.

Yes. You can open a Kotak 811 Lite account using your PAN and some additional details.

No. Joint accounts are not permitted under Kotak 811.

By default, Kotak 811 does not provide a cheque book. However, you can request one via the mobile banking app.

No. Since the Kotak 811 account is fully digital, it does not come with a physical passbook.

Yes. You can deposit funds through any Kotak Mahindra branch or electronically via NEFT or IMPS.