1. Zero Balance Account: Kotak811 allows you to open a zero balance account, eradicating the need for maintaining a minimum balance, which ensures easy account management and savings on non-maintenance fees.
2. Virtual Debit Card: Instantly provides a virtual debit card for online transactions, enhancing convenience and eliminating the waiting period for a physical card.
3. Easy Account Opening: Streamlined digital process for account opening using Aadhaar and PAN within minutes, making it accessible and straightforward for users to start banking operations quickly.
1. Limited Features for Non-KYC Accounts: Kotak811 has restrictions on non-KYC accounts, limiting services like fund transfers and account deposits, necessitating an in-person KYC update to unlock full functionality.
2. No Joint Account Option: Kotak811 doesn't support the opening of joint accounts through the app, which might be inconvenient for users looking to manage shared finances.
3. Customer Service Issues: Some users report difficulties with customer service, experiencing delayed responses or unresolved issues, which can be a major drawback for users requiring immediate assistance with their banking needs.
