KOTAK MAHINDRA BANK LAUNCHES #DREAMDIFFERENT – AN ODE TO THE YOUNG, ASPIRING, LESS-CASH, DIGITAL, 811 GENERATION OF INDIANS

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 KOTAK MAHINDRA BANK LAUNCHES #DREAMDIFFERENT – AN ODE TO THE YOUNG, ASPIRING, LESS-CASH, DIGITAL, 811 GENERATION OF INDIANS

 Announces a limited edition, specially designed physical debit card to celebrate a New India

Mumbai : On the first anniversary of 8/11 –  the day India changed, Kotak Mahindra Bank today announced the launch of #DreamDifferent – an ode to the young, aspiring, less-cash, digital, 811 generation of Indians who choose to pursue the road less taken. The Bank introduced a limited edition, specially designed 811 #DreamDifferent Debit Card to celebrate the dreamers and doers. The 811 #DreamDifferent physical debit card is designed for those who prefer to do everything cashfree from banking and payments to shopping.

This special edition physical debit card depicts an aesthetic celebration of the 811 generation. The virtual debit card that comes free upon opening an 811 account will also embody the same design.

Ambuj Chandna, Sr. EVP & Head – Retail Liabilities, Investment & Payment Products, Kotak Mahindra Bank, said, “The idea behind 811 was to challenge conventional banking. #DreamDifferent is a desire to challenge the conventional ways of doing things. As we approach the first anniversary of 8th November 2016, we are launching a campaign to celebrate a generation of Indians across various walks of life who aspire to #DreamDifferent, live fearlessly and expand their horizons beyond the conventional and established norms. 811 changed the way Indians bank by making the process to open a bank account seamless and simple. The #Dream Different debit card is another step to galvanise the 811 community and enable them to take better control of their finances.”

“811 has revolutionised the process of opening a bank account by reducing the time taken to under 5 minutes. We are seeing 811 accounts being opened across all hours of the day, including past midnight. What’s more, customers earn up to 6% p.a. interest rate on their savings account balances, which is 2.5% p.a. more than what most other banks offer,” added Chandna.

811 is a unique full-service digital savings account that has been designed around the idea of simplicity and ease of use, enabling customers with Aadhaar and PAN numbers to open an account from anywhere, at any time, in under 5 minutes. Kotak is the first bank in India to integrate the Aadhaar-based OTP authentication process for account opening on mobile. 811 offers a zero-balance savings account with zero charges on all digital transactions, where customers can earn up to 6% p.a. on their savings account balances.

Established in 1985, Kotak Mahindra Group is one of India’s leading financial services conglomerates. In February 2003, Kotak Mahindra Finance Ltd. (KMFL), the Group’s flagship company, received banking license from the Reserve Bank of India (RBI), becoming the first non-banking finance company in India to convert into a bank – Kotak Mahindra Bank Ltd.

Effective April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra Bank Ltd. As on September 30, 2017, Kotak Mahindra Bank Ltd, has a national footprint of 1,362 branches spread across 689 locations and 2,164 ATMs.

The Bank has four Strategic Business Units – Consumer Banking, Corporate Banking, Commercial Banking and Treasury, which cater to retail and corporate customers across urban and rural India.

For more information, please visit the company’s website at http://www.kotak.com/

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