Kotak 811 Review: 5% Super Cashback | Trick to Skip Rs 399 Fee
Last Updated on 4 weeks by Saurabh Kotak 811 Review | 5% Super Cashback Card Annual Fees: ₹399/year Benefits: Zero Balance A/c Best for: Everyone (Casual Users) Reward Type: Super Cashback (Bank) Rating: Apply Here Stop Letting Bank Fees Eat Your Savings: Is Kotak 811 Really “Zero Cost”? Are you tired of maintaining a high minimum balance just to keep your bank account active? If so, you’ve likely come across the Kotak 811 Zero Balance Account. But with so many variants now available, is the standard version enough, or should you upgrade to Kotak 811 Super? In this guide, I’ll break down both the Kotak 811 variants based on my personal experience of using them for a year now. Most importantly, I’ll share two hacks at the end: How I consistently claim 5% cashback with my super 811 debit card and how I got the ₹399 joining fee returned. Let’s dive in and see if this is the right home for your money. Table of Contents About Kotak 811 Kotak 811: Key Features & Benefits Kotak 811 Savings Variants: Key Differences How to Open Kotak 811 Account? 5% Cashback with Kotak 811 Super Best ways to claim 5% Cashback Trick to save the Kotak 811 Joining Fee Final Verdict: Is Kotak 811 Super Worth It? About Kotak 811 Kotak 811: Key Features & Benefits Kotak 811 Savings Variants: Key Differences How to Open Kotak 811 Account? 5% Cashback with Kotak 811 Super Best ways to claim 5% Cashback Trick to save the Kotak 811 Joining Fee Final Verdict: Is Kotak 811 Super Worth It? About Kotak 811: Zero Balance Savings Account Launched in 2017, Kotak 811 is Kotak Mahindra Bank’s fully digital, zero-balance savings account. The first banking app in India, allowing instant online account opening via their website using Aadhaar and PAN Card for verification and a quick Video KYC. Kotak 811 offers various savings account variants, each one with different features, a virtual debit card for online shopping and a physical card delivered at your door step within a week. It offers features like savings interest, no minimum balance, and easy fund transfers (NEFT/IMPS/RTGS) for a complete mobile-banking experience. Key Features and Benefits Instant Digital Account: Open an account in minutes using just your Aadhaar and PAN details. Zero Balance: No requirement for maintaining a minimum balance. Virtual Debit Card: Get an instant virtual debit card within the app for online payments. Physical Debit Card: Option to request a physical card (for a fee) through the app for ATM use and POS transactions. Mobile Banking: Manage everything through the Kotak 811 Mobile App. Interest & Rewards: Earn interest on savings balance and access rewards/cashback. Free Fund Transfers: Utilize NEFT, IMPS, and RTGS for online fund transfers at no cost. 5% Super Cashback: Get 5% cashback up to ₹500/month on eligible spends with the Super Variant. Kotak 811 Savings Variants: Key Differences How to Open Kotak 811 Account? Opening Kotak 811 Savings Account is a quick and fully digital process. I have shared the detailed steps to open Kotak 811 account: Visit Kotak 811 Website. Enter your Mobile Number, Email ID and Pin Code to get started and then verify your mobile number with OTP. Enter your PAN and Aadhar Card details in the next step and then verify Aadhar with OTP. On the next page, share your personal details like: Father’s Name, Occupation, etc They will retrieve your address in the next step, just confirm it. On the next page, they will ask your communication address. You can click on same as Permanent Address or put different details, if not same. Next, give nominee details and then agree with their terms and conditions. Finally, they will ask the required Kotak 811 Variant: Super or Classic. (Suggestion: Choose Super for 5% Cashback and other better features) Next, you have to fund your account: ₹10,000 for Super or ₹5,000 for Classic Variant. (Using UPI) Once funded, you have to setup MPIN for the app and banking and then can complete the KYC process with VIDEO KYC or Appointment. Next, you can download the Kotak 811 app and can start using the app. Personal Experience Tip: Kotak 811 might advertise their Video KYC service to be 24/7 available but for me Video KYC option was not enabled at night, near 23:40. So, maybe Video KYC option is available between normal working hours: 9:00 to 19:00 IST. 5% Cashback with Kotak 811 Super The most spectacular feature of the Kotak 811 Super Variant is that it offers 5% Cashback up to ₹500 per month on eligible spends. But remember, there is a monthly criteria you need to fulfil to activate the Super Benefits: Monthly Credit of ₹10K: User has to credit ₹10,000 every month into their Kotak 811 bank account in order to activate the 5% Super Cashback. Get 5% Super Cashback: Once the monthly funding requirement is fulfilled then users are eligible to get 5% cashback up to ₹500/month on E-commerce & POS (Point of Sale) transactions using your Kotak Debit Card (Virtual or Physical). Kotak 811 Super Debit Card 5% Cashback Exclusions 5169, 5085, 5199, 2842, 5122, 5039, 5198, 7375, 5051, 5021, 5046, 5099, 7395, 8734, 5044, 5074, 2791- Business-to-business transactions 7995- Betting including lottery tickets, casino gaming chips, race tracks 7273- Dating and escort services 5960- Direct marketing – Insurance services 6012- Financial Institution – Merchandise Services & Debt Repayment 7800- Government licensed – lottery 7801- Government licensed- online gambling 6381- Insurance 6300- Insurance sales, underwriting & premiums 6010- Manual cash disbursements – Financial Institutions 4829- Money transfer 6051- Non financial institutions – Foreign currency liquid, crypto assets, account funding, traveler cheques & debt repayment 8651- Political donations 6540- Non-Financial Institutions – Stored Value Card Purchase/Load 5300- Wholesale clubs, and 5723- Guns and ammunition shops 5169, 5085, 5199, 2842, 5122, 5039, 5198, 7375, 5051, 5021, 5046, 5099, 7395, 8734, 5044, 5074, 2791- Business-to-business transactions 7995- Betting including lottery tickets, casino gaming chips, race tracks 7273- Dating and escort services 5960- Direct marketing – Insurance services 6012- Financial Institution – Merchandise
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