How Kotak 811 Can Help in Availing the Benefits of the Pradhan Mantri Awas Yojana

Kotak 811 is a digital savings account offered by Kotak Mahindra Bank that allows customers to earn interest on their deposits and also provides a host of other benefits. Some of the key features of Kotak 811 are as follows:

-Minimum balance requirements: There are no minimum balance requirements for Kotak 811, which makes it an attractive proposition for customers who are looking to open a savings account with a low initial deposit.

-Interest rates: Customers can earn up to 6% per annum on their deposits in Kotak 811, which is higher than the interest rates offered on regular savings accounts.

-Free virtual debit card: All customers who open a Kotak 811 account are provided with a free virtual debit card, which can be used for online transactions.

-No transaction charges: There are no transaction charges for using the Kotak 811 account, making it an affordable option for customers who want to carry out digital transactions.

Eligibility Criteria of Kotak 811.

In order to be eligible for a Kotak 811 account, customers must meet the following criteria:

-They should be resident Indian citizens.

-They should be above the age of 18 years.

-They should have a valid mobile number and email address.

How to Open a Kotak 811 Account.

Customers can open a Kotak 811 account by following the steps given below:

-They should visit the Kotak Mahindra Bank website and click on the ‘Kotak 811’ tab.

-They should then enter their personal details such as name, date of birth, mobile number, and email address.

-They should create a login password and choose a security question from the drop-down menu.

-They should then select the type of account they wish to open – either a savings account or a current account.

-They should provide their KYC documents such as PAN card, Aadhar card, and passport (for foreign nationals).

-Once all the required documents have been submitted, customers will receive an activation link on their registered mobile number and email address.

Pros and Cons of Kotak 811.

Kotak 811 is a digital banking service offered by Kotak Mahindra Bank that allows customers to open a zero-balance savings account. There are many benefits of using Kotak 811, such as:

  • Customers can earn up to 6%* p.a. on their deposits in a Kotak 811 account. This is higher than the interest rate offered on regular savings accounts, which is typically around 4% p.a.
  • There are no monthly or annual charges associated with Kotak 811 accounts. This makes them very affordable to maintain, especially for people who do not keep high balances in their savings accounts.
  • Customers can use their Kotak 811 account to make online purchases, pay bills, and transfer funds to other bank accounts. This makes it very convenient for people who do most of their banking online.

Disadvantages of Using Kotak 811.

There are some disadvantages of using Kotak 811 that customers should be aware of, such as:

  • , Unlike regular savings accounts, Kotak 811 accounts do not offer checkbook facilities or ATM cards. This means that customers will have to use other methods (such as net banking) to withdraw money from their accounts if they need cash.
  • The maximum deposit limit for Kotak 811 accounts is Rs 1 lakh per month. This may not be suitable for customers who want to keep larger sums of money in their savings accounts.
  • Interest earned on deposits in a Kotak 811 account is subject to income tax. This means that customers will have to pay tax on the interest they earn, unlike in a regular savings account where the interest is tax-free.


The Pradhan Mantri Awas Yojana is a government scheme that provides financial assistance to people who want to buy or build a home. Kotak 811 is a banking service that can be used to avail of the benefits of the scheme. It offers many features and has some advantages and disadvantages.