Quick Answer: Which Kotak Account Is Best?

Is Kotak Mahindra Bank reliable?

“We assure you that the Kotak Mahindra Bank is a financially strong, well-capitalised bank with strong risk and corporate governance framework.

Your deposits with us are absolutely safe”..

What is the difference between Kotak 811 and normal account?

811 is a zero balance digital savings account. Unlike normal Kotak savings account, 811 can be opened online through the Aadhaar OTP verification process. After the account is opened, virtual debit card will be available from your mobile banking app. … To withdraw money from ATM, you have opt for a physical debit card.

Which bank is best Kotak or Icici?

Summary of Comparative Analysis of Top four Private Banks Kotak Mahindra Bank has highest Net Interest Margin, Capital Adequacy Ratio and CASA Ratio, while ICICI bank has highest share of retail loan book.

Which bank is better Kotak or axis?

As we used both accounts, we find it better with Kotak 811 account. Axis Bank will provide you physical card by default which will cost you some yearly charge. Here Kotak 811 can be used without any change. Also, Axis Bank will change you for SMS alert whereas Kotak 811 offers all of them for free.

Is Kotak Bank Safe 2020?

Kotak Mahindra Bank joins larger peers like HDFC Bank which also recorded a 24% increase in deposits aggregating to Rs 11.46 lakh crore at the end of March 2020. … “Your money is safe, the Indian banking system is safe and sound,” he had appealed on March 26.

What is the minimum balance in Kotak bank account?

Kotak 811 Lite, Kotak 811 Limited KYC account and Kotak 811 Full KYC account are zero balance accounts. Hence, there is no need to keep a minimum balance. However, Kotak 811 Edge Account requires you to maintain minimum Average Monthly Balance of Rs. 10,000.

Which bank is better HDFC or Kotak?

Hence, Kotak Bank can be a better option if you are looking for a high value amount. … HDFC has an average customer ratings of 4.5, while Kotak Bank has an average customer rating of 3.1, based on which it is clear that HDFC has a high customer service focus, an easy Loan Against Property process and a quick turnaround.

Is Kotak Bank is Nationalised?

As mentioned in our other post, only the largest 14 private banks were nationalised through the act of Parliament in 1969. … New private sector banks – Axis Bank, Development Credit Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, Yes Bank.

How can I convert my Kotak account to zero balance?

How to Open Kotak 811?Visit the Android Play Store on your mobile phone.Download and install the Kotak Mobile Banking app.Register using your Aadhaar number, PAN, and other personal details.Set up a mobile banking PIN.Start using your account immediately.

Can I convert my salary account to zero balance account?

Can I convert my salary account to zero balance savings account? … Also, you would be unable to convert your existing account to a zero balance account. We would advise you to convert the existing salary account to general savings account, with a monthly average balance to be maintained at minimum of Rs.

Which bank has zero balance?

Latest Interest Rate for Zero Balance Savings AccountBankName of zero-balance savings accountInterest rateStandard Chartered BankBasic Banking Account0.5% to 4.90%HDFC BankBasic Savings Bank Deposit Account3.50% to 4%Axis BankBasic Savings Account3.50% to 4%ICICI BankBasic Savings Account3.50% to 4%5 more rows

Which is the safest bank in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.