Kotak 811, mobile-first Aadhaar-based OTP savings account, now available on web
Launched in March 2017, Kotak 811 is India’s first savings account that can be opened by just downloading the bank’s app and authenticating oneself with Aadhar credentials via OTP. Now, the same can also be done even without downloading the app, via mobile or desktop browsers. [Link to 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., we see lot of interest amongst customers to shift their savings balances to banks like us, who pay up to 6% interest rate on savings account. Kotak 811 helps such customers to open a new bank account in less than 5 minutes, now even through desk-tops and mobile browsers, and enjoy higher rate of interest.”
Kotak 811 offers a zero-balance savings account with 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.
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