Kotak reduces interest rate

Kotak reduces interest rate

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Deal Cadet
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880
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We wish to inform you that w.e.f. April 20, 2020, interest rates on daily balances in Savings Account stands revised as follows:  Daily balances above ₹1 lakh will earn 4.5% interest p.a. and daily balances up to ₹1 lakh will earn 3.75% interest p.a.

In view of the current situation, we urge you to stay safe and bank conveniently through our Net Banking and Mobile Banking solutions from the comfort of your home. We remain committed to providing you with the best services and world class banking products.

4 Comments  |  
4 Dimers
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Deal Subedar
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1424
53

idfc still giving 7% on balance above 1 lac

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Deal Cadet
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880
10
deadguru wrote:

idfc still giving 7% on balance above 1 lac

With the repo rates at 4.4%, don’t think they will be giving that for long.

Expect them to reduce is by 100 bps in a week / fortnight

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