Kotak Mahindra Bank offers a wide variety of savings account options to its customers to suit their individual needs. From premium saving account to basic or regular accounts, from online savings accounts to offline accounts, from accounts for children to accounts for senior citizens, the options are endless.
Moreover, the rate of interest offered on Kotak Mahindra Bank savings account is also higher than those offered by most of its contemporaries. Let us have a look at the various types of accounts they offer and what they promise. Eligibility for most of the Kotak Mahindra Bank savings accounts is similar and is provided with the account details below.
Kotak Mahindra Bank Savings Account Interest Rate
|Kotak Mahindra Bank Savings Account Balance||Rate of Interest*|
|Up to Rs.1 lakh||5.00% p.a.|
|Above Rs.1 lakh and up to Rs. 1 crore||6.00% p.a.|
|Above Rs.1 crore||5.50% p.a.|
*Kotak Mahindra Bank Savings account interest rates are subject to renewal on the basis of bank’s policy.
Kotak Mahindra Bank savings account interest rate is 5% p.a. if the balance in the account is up to Rs.1 lakh. For balances above Rs.1 lakh to Rs 1 crore then the rate of interest provided is 6.00% p.a.; for balances above Rs. 1 crore, the rate of interest is 5.50% per annum.