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    HomeNewsBusinessKotak Bank cuts savings rate by 50 bps to 3% on sub-Rs 5 lakh account balance

    Kotak Bank cuts savings rate by 50 bps to 3% on sub-Rs 5 lakh account balance

    Earlier, Kotak Mahindra Bank offered two slabs for savings account interest rates, with 3.5% for balances below Rs 50 lakh and 4% for balances above Rs 50 lakh.

    Moneycontrol News
    October 17, 2024 / 19:15 IST
    The savings account rate slabs for balances above Rs 5 lakh remain unchanged.
       
       
      26 Aug, 2025 12:21
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      Private lender Kotak Mahindra Bank has reduced the savings account interest rates by 50 basis points for account balance under Rs 5 lakh, bringing the new rate to 3%, down from the previous 3.5%, CNBC-TV18 said in an alert.

      Earlier, Kotak Mahindra Bank offered two slabs for savings account interest rates, with 3.5% for account balance below Rs 50 lakh and 4% for balance above Rs 50 lakh. The savings account rate slabs for balances above Rs 5 lakh remain unchanged.

      This is being updated.

      Moneycontrol News
      first published: Oct 17, 2024 07:15 pm

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