Kotak Mahindra Bank Savings Account Interest Rate & Minimum Balance 2025

Kotak Mahindra Bank savings account offer flexible banking options with interest earnings and convenient features to suit diverse customer needs. Kotak Mahindra Bank saving account interest rate are competitive and applicable to different variants.

Key Highlights:

Kotak Mahindra Bank Saving Account Interest Rate:

• 2.50% p.a. for both Domestic and Non-Resident (NRE/NRO)

Kotak Mahindra Bank Saving Account Minimum Balance:

• NIL to ₹50,000, depending on the type of savings account

What is Kotak Mahindra Bank Savings Account?

The Kotak Mahindra Bank savings account enables individuals to park their idle funds or cash and earn high-yielding interest on them. The bank offers different types of such accounts, each with personalised benefits and a streamlined account opening process. These savings accounts offer high-interest rates, which are comparable to other bank’s savings accounts. 

Kotak Mahindra Bank Savings Account Interest Rate 

Take a look at the following table to find out the latest interest rates applicable to Kotak Mahindra Bank savings accounts:

*The interest rate is applicable from 9 July 2025  

Kotak Mahindra Bank Savings Account Minimum Balance 

Let us take a look at the table for details on minimum balance requirements for different types of Kotak Mahindra Bank savings account:

Types of Savings Account in Kotak Mahindra Bank

Here are some savings account options that you can consider while applying for the high-yielding Kotak Mahindra Bank saving account interest rate. 

• Edge Savings Account: A regular savings account with free access to all domestic VISA ATMs and an instant NEFT transaction facility. 
• Everyday Savings Account: Popular among its customers for offering incentives, rewards every month upon achieving transaction milestones. and special offers for customers from the bank on their birthdays and anniversaries. 
• Pro Savings Account: Savings account with premium banking facilities and comes with a Platinum International Debit Card for the use of account holders, allowing free payments and easy access to funds. 
• Classic Savings Account: A standout feature of this savings account, setting it apart from others, is its free-demand draft facility. 
• Sankalp Savings Account: Savings account catering to the financial needs of customers from rural sections of India. This account offers preferential treatment in case of gold, two-wheeler and tractor loans. 
• Ace Savings Account: It offers benefits such as free outstation cheque collection, cash withdrawals, fund transfer and an online net banking facility. 
• Nova Savings Account: Special type of savings account, offering customised banking services and a Classic Debit Card to all account holders.  
• 811 Digital Savings Account: Savings account with a zero-contact and digitalised account opening process. To operate this account, there is no need for the account holders to maintain a minimum balance. 
• 811 Edge Digital Savings Account: Another variant of digital savings accounts introduced by the bank and comes with a minimum balance limit of ₹10,000 and a Platinum Debit Card. 

Kotak Mahindra Bank Saving Account Charges 

The following charges are applicable to Kotak Mahindra Bank savings account:

Edge Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 5 transactions/ month, thereafter ₹23 per cash withdrawal and Nil charges for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 3 transactions in the top 6 cities and 5 transactions in non-top cities per month, thereafter ₹23 per cash withdrawal and Rs.10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Everyday Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 7 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 charges for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 7 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Pro Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Classic Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions  
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Sankalp Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 5 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 3 transactions in the top 6 cities and 5 transactions in non-top cities per month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Ace Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 30 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 for non-financial transaction 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Nova Savings Account

• Cash Withdrawal/Non-Financial Transactions at the Bank ATMs - Nil up to 5 transactions/ month, thereafter ₹23 per cash withdrawal and ₹10 for non-financial transaction
• Cash Withdrawal/Non-Financial Transactions at the Other Bank ATMs - Nil up to 3 transactions in the top 6 cities and 5 transactions in non-top cities per month, thereafter ₹23 per cash withdrawal and ₹10 per non-financial transactions 
• Cash Withdrawal/Non-Financial Transactions at International ATMs - ₹150 per cash withdrawal transaction and ₹25 per non-financial transaction
• Cardless cash withdrawal - Nil charges up to 1 transaction/ month and ₹10 per transaction for subsequent transactions

Penalty for Non-Maintenance of Minimum Balance in Kotak Mahindra Savings Account 

The following is the penalty applicable to account holders for non-maintenance of Kotak Mahindra Bank saving account minimum balance. 

Transaction Limit in Kotak Mahindra Bank Savings Account

Here are the transaction limit or the cash deposit/withdrawal limit applicable to different Kotak Mahindra Bank savings accounts that you need to know:

How to Open a Savings Account in Kotak Mahindra Bank? 

You can open a savings account with Kotak Mahindra Bank through either online or offline modes. Let’s find out how.

Online 

Step 1: Visit the official Kotak Mahindra Bank website.

Step 2: Navigate to the ‘Savings Account’ section under the ‘Accounts and Deposits’ tab from the main menu. 

Step 3: Choose the type of savings account you want to open. 

Step 4: Go through all the terms and conditions associated with your desired savings account. 

Step 5: Click on the ‘Apply Now’ option. 

Step 6: Enter the required details such as your particulars and contact information. 

Step 7: Click on the ‘Apply’ tab. 

Step 8: An account opening application form will be displayed on the screen. Fill it out carefully. 

Step 9: Attach the necessary KYC documents and click on ‘Upload’. 

Your Kotak Mahindra Bank savings account will open in no time. 

Offline 

Step 1: Visit the nearest branch of Kotak Mahindra Bank along with your required KYC documents. 

Step 2: Obtain a savings account opening application form from a bank representative. 

Step 3: Fill out the application form carefully and attach the documents with it. 

Step 4: Deposit the minimum balance amount at the cash counter. 

Step 5: The bank representative will verify your documents and application form. Upon successful verification, the bank will notify you and issue you a debit card. 

Documents Required for Opening Savings Account in Kotak Mahindra Bank

• Requirements for Individuals 
  • Identity proof of the applicant (driving license, passport, voter's ID, Aadhaar card) 
  • Address proof of the applicant (utility bill, bank statement, bank account passbook) 
  • Signature proof of the applicant (PAN card) 
  • Form 16 in case of unavailability of the PAN details 
  • Birth Certificate in case of applicant is a minor 
  • Recent passport-size photographs of the applicant 
• Requirements for Foundations and Trusts 
  • Identity proof of the trustees, beneficiaries, settlors and those holding power of attorney, founders, managers or directors 
  • Address proof of the trustees, beneficiaries, settlors and those holding power of attorney, founders, managers or directors 
  • Power of attorney 
  • Telephone bill 
  • Resolution of the managing body of the trust or foundation

How to Close Kotak Mahindra Bank Savings Account? 

Here’s how you can close your Kotak Mahindra Bank savings account:

Step 1: Visit the nearest branch of Kotak Mahindra Bank. 

Step 2: Consult a bank representative and obtain an account closure form. You can also choose to download this form from the bank’s official website and print it out. 

Step 3: Fill out the form carefully. 

Step 4: Attach the required KYC documents with the form and submit it to the bank representative. 

Step 5: Hand over the debit card, passbook and the chequebook linked to your savings account. 

Conclusion

While a safe option, it is advisable to evaluate the overall benefits of Kotak Mahindra Bank saving account interest rate by comparing it with rates offered by other banks. Furthermore, it is important to note that the interest rates are subject to change over time. Hence, make sure to verify the rates and other associated terms and conditions before prioritising any savings account offered by Kotak Mahindra Bank. 

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