Get One of The Highest Savings Account Interest Rates in India with Kotak811
It’s an old adage that the secret to wealth is to make your money work for you. While investments and tax-savings schemes are a must, it’s important to take advantage of opportunities that are easily accessible.
For instance, did you know you can earn 7% interest in your savings account now? Or that you can have a savings account with no minimum balance requirement?
Yes, indeed! Kotak811’s latest financial offering is redefining conventional banking norms with its zero balance savings account that offers one of the highest savings account interest rates in India.
Discover how you can get started with your zero balance account opening online and understand the associated benefits, including the attractive credit card against fixed deposits scheme.
Zero Balance Savings Account: An Introduction
What's the first thing that comes to mind when you think of banking? Long queues, tedious paperwork, and strict minimum balance requirements? The times have changed. With Kotak811, you embark on a seamless digital journey, obtaining a zero balance savings account that requires no paperwork.
Kotak811: Banking Simplified
No Hassle Digital Account Opening: Say goodbye to tedious paperwork. Open your Kotak811 account using your PAN & Aadhaar from the comfort of your home. Moreover, you need not make a trip to the branch or carry any ID proof.
Experience the 3-Minute Magic: Kotak811's streamlined process ensures a swift account opening journey. Just 3 minutes on the Kotak811 App or website, and you'll have your account ready. An instant account number is yours even before you finish your video KYC.
Unmatched Financial Freedom: With Kotak811, customers can spend and save without worrying about maintaining a minimum monthly average balance.
Virtual Debit Card Delight: Receive a free virtual debit card as soon as you open your Kotak811 account. This debit card is ready for all digital transactions, and you can order a physical card if you wish. Additionally, every Kotak811 account holder becomes eligible for a credit card without the barrier of credit score. After all, every customer deserves rewarding experiences.
Understanding Kotak811 ActivMoney
ActivMoney, commonly referred to as Flexi Fixed Deposit, is a facility that allows funds above a certain amount to automatically be moved to a fixed deposit, without the need to create one. This sum then earns a high-interest rate.
In case you withdraw money and your funds dip below the limit, the amount is automatically moved back to your savings account.
This is a gamechanger because it allows excess funds in your account to earn you a higher interest rate without any extra effort.
Features & Benefits:
Optimised Earnings: Boost your savings with an interest rate of up to 7% p.a. on amounts exceeding ₹25,000 in your savings account. ActivMoney is booked automatically in units of ₹5,000, and you'll receive interest directly in your savings account every 180 days.
Flexible Investing: Invest without being bound by a lock-in period. If your savings account runs low on funds, your deposits will be automatically "swept in" to cover the deficit.
No Hidden Charges: Rest easy knowing there are no charges on the premature withdrawal of your ActivMoney. Continue to garner interest on your ActivMoney balance unhindered.
ActivMoney: How It Functions
Kotak ActivMoney limit is preset at ₹25,000*
Ensure your savings account balance is at least ₹30,000 to harness ActivMoney's benefits
If your savings account holds, for instance, ₹45,000, an ActivMoney of ₹20,000 will be booked, leaving ₹25,000 in your savings account.
Suppose a cheque of ₹30,000 is drawn against your account. ₹5,000 from your recent ActivMoney will be used automatically to honor the cheque.
Your ActivMoney balance will consistently earn interest until maturity.
*These are current limits and are subject to change.
FAQs on Kotak811 ActivMoney:
1. Why should I opt for ActivMoney?
ActivMoney turns any excess amount from your savings into a deposit earning a high FD-like interest of up to 7% annually. Plus, with its high liquidity and zero penalty on withdrawals, ActivMoney offers unmatched financial flexibility.
2. How do I activate ActivMoney?
There are three methods to activate the ActivMoney or sweep-in facility:
Subscribe to ActivMoney when you open your Kotak811 zero balance savings account online.
Use the Kotak811 App.
Dial the Customer Experience Center at 1860 266 0811.
The digital banking sphere in India is bursting with innovation. Kotak811, with its zero balance account and unique facilities like ActivMoney, stands at the top of modern banking. If you're exploring options for "zero balance account opening online" or seeking a "credit card against fixed deposits," Kotak811 is the financial partner you've been searching for. Stay ahead of the curve and redefine your banking experience with Kotak811.
Disclaimer: This article is published in association with Kotak811 and not created by TNM Editorial.