Kotak 811, the Pioneering Mobile-First Aadhaar-Based OTP Savings Account
Mumbai, August 20, 2017: Kotak Mahindra Bank (Kotak) today announced that Kotak 811 can now be opened across multiple digital platforms, providing even more convenience to anyone seeking to open a bank account instantly, from anywhere in India.
Launched in March 2017, Kotak 811 is India’s firstsavings account that can be opened by just downloading the bank’s app andauthenticating oneself with Aadhar credentials via OTP. Now, the same can alsobe done even without downloading the app, via mobile or desktop browsers. [Linkto access Kotak 811 on web: https://m.kotak.com/811]
Ambuj Chandna, Sr. EVP, Kotak Mahindra Bank, said,“With several banks reducing interest rate on savings account to 3.5% p.a., wesee lot of interest amongst customers to shift their savings balances to bankslike us, who pay up to 6% interest rate on savings account. Kotak 811 helpssuch customers to open a new bank account in less than 5 minutes, now eventhrough desk-tops and mobile browsers, and enjoy higher rate of interest.”
Kotak 811 offers a zero-balance savings accountwith zero-charges for all digital transactions, where customers can earn 6%p.a. on their savings account balances above Rs. 1 lakh and up to Rs. 1 crore.