Kotak811: Now Earn up to 7 Per cent p.a. By Signing-up for ActivMoney

BusinessWire India
Mumbai (Maharashtra) [India], October 14: Now, one can earn FD-like interest by opening a Zero Balance Savings Account with Kotak811. In a remarkable step towards redefining the personal banking experience, the digital bank is providing customers financial flexibility and growth like never before with a no fuss online account that takes all of 3 minutes to open. Enjoy the benefits of a savings account without the pressure of maintaining a minimum balance. Most importantly, earn up to 7 per cent p.a. interest through an ingenious feature known as ActivMoney*.

This revolutionary product speaks to the diverse financial aspirations of the modern Indian, providing a seamless banking experience for those looking to forego the hassle of strict balance requirements.

Experience the Digital Advantage
Gone are the days of tedious paperwork and endless queues. With Kotak811, customers can digitally open their zero balance savings account using just their PAN and Aadhaar details. The KYC process is completed from the comfort of their homes, eliminating the need to visit a branch. All of this takes just 3 minutes!

Empowering Savings with ActivMoney
Earning up to 7 per cent p.a. Interest on a savings account just became a reality with Kotak811's ActivMoney. Designed to get more out of one's savings, this is an inbuilt flexible fixed deposit facility that ensures higher returns on balances over Rs 25,000. Unlike traditional fixed deposits, ActivMoney doesn't impose any lock-in restrictions, allowing customers to enjoy 24x7 access to their money. Interest is credited to their ActivMoney account every 180 days, giving their finances a well-deserved boost.

Seize Control with Kotak811
Flexibility and control are at the heart of Kotak811. Customers can spend and save without the burden of maintaining a specific monthly average balance with a Kotak811 Zero Balance Account. This empowers them to utilise their funds as they see fit, without the fear of penalties or additional charges. Moreover, the account comes with a free virtual debit card, seamlessly integrated into the Kotak811 app for easy online transactions. And the benefits don't stop there - a Kotak811 Savings Account opens doors to an array of financial opportunities, including eligibility for a credit card as well.

Swift and Seamless Digital Experience
Kotak811 understands the value of time. Customers can open their zero balance account within a mere 3 minutes using the Kotak811 App or website. The account number is generated instantly upon registration, even before the full KYC process is completed, ensuring immediate access to specific banking features.

Investment Redefined
Kotak811's ActivMoney offers an investment opportunity like no other. It bridges the gap between savings and investment by automatically sweeping out funds from the savings account. This eliminates the commitment of a lock-in period, providing customers with greater control over their investments.
Seamless Convenience
Say goodbye to the worries of premature withdrawal charges. Kotak811 ensures that customers pay zero charges for withdrawing their ActivMoney deposits early. Balances in the account continue to earn interest until maturity, making it an ideal avenue for those seeking lucrative investment options without compromising on liquidity.

Unlock Financial Freedom with Kotak811
To benefit from the ActivMoney facility, customers need to maintain a balance of Rs 30,000 or more in their savings account. Deposits under this subscription are automatically booked in multiples of Rs 5,000. For example, if a customer holds a balance of Rs 45,000, an ActivMoney deposit of Rs 20,000 will be booked, leaving a balance of Rs 25,000 in the savings account. This balance can be used as needed without any restrictions, ensuring complete financial control.

Join the Banking Revolution
Kotak811 represents a new era in banking, designed to cater to the evolving needs of the Indian population. It's a bank that lives in the pocket, is open 24x7, and accessible anywhere and everywhere. Governed by RBI regulations, Kotak811 combines cutting-edge technology with unwavering security to provide a banking experience that's safe, convenient, and tailored to one's financial aspirations.

For more information and to experience the power of Kotak811, visit the official website or download the Kotak811 app today.
*ActivMoney (Auto Sweep) is a facility of automatically sweeping out funds above a pre-specified threshold from one's Current/Savings Account to a Term Deposit (TD) Account for 180 days. In case of insufficient balance in the Current/Savings Account, the TD will be broken prematurely and the required amount will be transferred to the Current/Savings Account.
Default Sweep Out and Sweep In for limits for an account variant are the minimum thresholds and one will not be able to opt for limits lower than these. Auto-Sweep out of funds above a pre-specified threshold from Savings to Fixed Deposit will be for 180 days and in multiples of Rs 5,000. The nomination registered for Saving Account / Current Account will apply for FDs created through ActivMoney. If a customer opts for ActivMoney in an account, standalone Fixed Deposits cannot be linked to that account. Terms and Conditions guiding the Fixed Deposit will be applicable to Fixed Deposits booked under ActivMoney.
Bank may at its absolute discretion discontinue/suspend any of the services completely or partially with or without any notice to me.
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