Banking Q&A

Important Update on Savings Account Interest Rates for Kotak Mahindra Bank April 2019

According to the latest mailers and other sources, it has been brought to notice that w.e.f. Apr 15, 2019, daily balances over 1 Lakh will continue to earn 6% interest p.a. for balances up to 1 cr.

The interest rate on daily balances up to 1 Lakh in Savings Accounts stands revised at 4.5% p.a.

The interest rate on daily balances above 1 Cr will continue to earn interest at 5.5% p.a.