Open a Zero-balance Account Online in a few simple steps - Kotak811

MUMBAI, India, Jan. 5, 2023 /PRNewswire/ -- The way people carry out their banking has changed considerably. Now, one doesn't have to step outside their comfort zone and stand in a queue to open a bank account. Just grab a phone, make some taps, share the Aadhaar and PAN along with some basic details, and the account is ready. The best part is that customers don't have to maintain a minimum balance in the account. Kotak811 is making it happen for every Indian who is looking to open a zero balance savings account.

Customers can open a zero-balance online savings account in just 5 minutes with Kotak811, a digital banking app.

Here are the steps through which one can open their account online.

Zero-balance Account

A zero-balance savings account is like any other bank account. The only difference is that it doesn't require the customer to maintain a minimum balance in the account. It is best suited for customers who want to enjoy the benefits of a savings bank account without the hassle of maintaining a minimum balance.

Steps to open a zero-balance savings account online

Step 1: Go online

All customers need is their smartphone and access the bank's official website or mobile banking app. Then enter their mobile number to initiate the process. The next step is to fill in all the details, such as the ID proof number, name, DOB, etc. The account opening process is online and can be done from anywhere without visiting the bank physically.

Step 2: Keep all the required documents handy

Similar to the documentation process that takes place in the Bank, the customer has to gather all the documents in one place while doing the process online. They will be required to submit certain documents such as an Aadhaar card, Voter's card, Pan Card, passport, or driving license as identity proof. Other than these, two passport-size photographs are also needed.

Step 3: Do the video KYC verification

KYC (Know Your Customer) has become mandatory for all mobile banking purposes. However, customers can complete the KYC process on their own by submitting all the documents online for verification. The only requirement is to allow the mobile banking app to access the customer's camera, location, and microphone to initiate the video KYC, which will be conducted via a video call with bank personnel.

Step 4: Login through the mobile app

Once everything is done, the customer will receive an account number and customer ID, which they can use to login into their zero-balance savings account.

About Kotak811

Kotak811 digital bank account is an online savings account that gives you the flexibility to save and spend as you wish, earn up to 4%* interest p.a., and much more. Apply today to open a savings account online.