Customers of Kotak Mahindra Bank can now update their correspondence address online using DigiLocker, according to the recent update of the bank as of June 1. For the same, DigiLocker has been incorporated into the bank's online banking system. Since many customers have travelled to their hometowns as a result of the epidemic, this service provides them with a way to modify their correspondence address promptly from the convenience of their home or workplace. A legitimate DigiLocker account is all that is required for a customer to update his or her address using DigiLocker.
According to different sources, Puneet Kapoor, head of Kotak Mahindra Bank's products, alternate channels, and customer experience delivery added that "Our emphasis at Kotak is to see how we can better support our customers with digital-first initiatives that make banking simpler, safer and problem-free. The integration with DigiLocker is one more step in that direction, enabling Kotak customers to instantly update their correspondence address, completely online and with no paperwork required, resulting in peace of mind for our customers."
Steps to modify correspondence address
The following steps will guide you through the process of updating your correspondence address online through DigiLocker.
- If you are an existing customer of Kotak Mahindra Bank then sign in to your net banking account using the required credentials.
- Now head to the 'Profile' section and select 'Update Communication Address'
- Now select the "Update address by DigiLocker Login" option and you will be redirected to the official portal of DigiLocker.
- Now sign in to your DigiLocker account by completing the authentication process by OTP and Security PIN.
- Upon customer approval, the address as it exists on the customer's Aadhaar card will be displayed on the screen, and the correspondence address with the bank will be changed upon approval of the customer.
With effect from May 24, 2021, Kotak Mahindra Bank has also changed the interest rate on fixed deposits (FDs) for amounts more than Rs 2 crore to Rs 25 crore and beyond. Click here for more information.