How To Add Beneficiary In Kotak Mahindra Bank?

Kotak Mahindra Bank provides online transaction services to a vast number of people. To avail of those services, customers need to register beneficiaries or payees to the account. Beneficiaries are the account holder who will receive your funds. They may be people or business entities. 

Learn the steps to add beneficiaries to Kotak Mahindra bank using net banking and Kotak Mahindra Bank mobile application.

Add Beneficiary To Kotak Mahindra Bank Using Net Banking

Steps to add beneficiary using Kotak Mahindra Bank Net Banking:

Step #1: Go to the official website Kotak Mahindra net banking.

Step #2: Log in to the website by providing your CRN Number and password.

Step #3: Select the “Secure Login” option on the screen.

Step #4: The next window will ask you to provide the OTP received on your registered mobile.

Step #5: Click on the “Payment” option.

Step #6: Look for the “beneficiaries” option and select it.

Step #7: The Kotak Mahindra bank website will list the option to choose the beneficiary type. If your beneficiary is a Kotak Mahindra Bank account holder, then choose “Kotak bank”. If the beneficiary is the customer of another bank, then go for the “other bank” option. 

Step #8: Click on the “Add a new beneficiary” option.

Step #9: The next window will list out the bank names. Select your new beneficiary name and fill in the details. 

Step #10: The next window will ask you to provide beneficiary details such as account name, Account type, beneficiary name.

Step #11: Submit the details and enter the received OTP.

Step #12: Verify all the details and click on the “Activate Now” button.

Step #13: Your new beneficiary through net banking has been successfully added.

Add Beneficiary To Kotak Mahindra Bank Using Mobile App

Steps to add beneficiary using Kotak Mahindra Bank Mobile Banking:

Step #1: Install and Open the Kotak Mahindra 811 mobile application to add beneficiaries to Kotak Mahindra Bank.

Step #2: Add the CRN number to log in to the Kotak Mahindra 811 application.

Step #3: Select the “Transfer money” option. Now, tap on the “Beneficiaries” option.

Step #4: The application will list the option to choose the beneficiary type. If your beneficiary is a  Kotak Mahindra Bank account holder, then choose “Kotak bank”. If the beneficiary is the customer of another bank, then go for the “other bank” option. 

Step #5: Tap on the “Add New Beneficiaries” option. The application will ask you to select the beneficiary’s bank account and IFSC account. 

Step #6: The next window will ask you to provide beneficiary details such as account name, Account type, beneficiary name.

Step #7: To proceed with the process, select the “Continue” button.

Step #8: The next window will ask you to provide the OTP received on your registered mobile.

Step #9: Now, tap on the “Verify” button to finish the process.

Step #10: Your new beneficiary has been added successfully to Kotak Mahindra Bank using the Kotak Mahindra Mobile App.

Kotak Bank Beneficiary Activation Time

In about 30 minutes, the bank will activate the beneficiary’s account. Once activated, customers will be able to make transfers of up to Rs. 10 lakhs to any bank account at Kotak Mahindra.

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