Savings Bank A/c 
Nature Rate of Interest
Normal Senior Citizen
A. Domestic (W.e.f. Sep 20, 2021) 3.50% p.a.
3.50% p.a.
B. Basic Savings Bank Deposit Account/Small Account (W.e.f. Sep 20, 2021) 3.50% p.a.
3.50% p.a.
C. Non Resident (NRE/NRO) 3.50% p.a. 
3.50% p.a.
With effect from 1 April 2016, the periodicity of payment of interest on Savings Bank Account will be quarterly. Thus, the Savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30th June, 30th September, 31st December & 31st March each year.
Note : p.a. is "per annum"


The bank offers floating rate linked savings deposit. For details, please contact your branch or relationship manager.

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Demat Account - Kotak Mahindra Bank

Demat Account

W.e.f. Sep 20, 2021, daily balances in Savings Account up to Rs. 1 lakh will continue to earn 3.50% p.a. interest. Interest rate on daily balances in Savings Account above Rs. 1 lakh stands revised at 3.50% p.a. These interest rates are applicable for Resident Accounts only.

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Frequently Asked Questions

Can I open a DEMAT Account with my Savings Account?

Yes. Kotak offers a 3-in-1 account called 'Trinity''. It includes : Kotak Bank Savings Account + Kotak Securities Demat Account + Kotak Securities Trading Account

At what rate will I earn interest on the balance in my Savings Account?

Prevailing Savings account interest rate on the daily balances is as follows : 

Click here to check the prevailing Saving account interest rate on the daily balances is as follows

What is Savings Account?

A Savings account is a bank deposit account that offers interest on the balance kept in the account. It allows you to secure or withdraw money when the need arises. Banks now a days are offering different types of accounts to cater to the needs of various customer segments with specific benefits and offers. From senior citizens to kids, there is a proposition for everyone.

When is the interest earned on my saving account deposited/credited into my account?

Interest will be credited in the savings account on quarterly basis.

Is PAN card compulsory to open a savings account?

Pan card is mandatory to open a Savings account if annual income is more than 5L. For cases with income less than 5L, the accounts can be opened with Form 60 as well.