Not only the mode of account opening but also the type of account has changed. One of the customer’s favorites like zero balance account. A zero balance account is an account where no minimum deposit is required. This type of account is ideal for those customers who want the convenience of a savings account but at the same time do not want to go through the obligation of maintaining a minimum amount in the account. With Kotak811, the digital banking app, it is possible to open a zero balance account in just 5 minutes. A zero balance account can be opened in the following manner.—
Step 1: Go to the bank’s official website and mobile banking app first. Mobile number should be given there initially.
Step 2: Provide all required information. Like proof of identity card, date of birth etc. The entire process will be online. And this process can be done from anywhere. No need to go to bank branch for that.
Step 3: Keep all documents handy. For example, Aadhaar card, voter card, PAN card, passport or driving license should be kept handy as identity documents. So that when the ID information is asked for at the time of account opening, it can be provided immediately. 2 passport size photos should also be kept.
Step 4: Then complete the KYC process through video. This KYC (Know Your Customer) process has been made mandatory for any mobile banking. If this process is not completed, the account opening or other mobile banking related operations will not be completed. Therefore, it is necessary to ensure that this process is completed.
Step 5: Customer will get Account Number and Customer ID after all the process is completed. They can use that information to enter their zero-balance account. Then you can do the necessary banking transactions.