RBI recently cut the repo rate in the MPC meeting. This cut was made up to 0.25 percent, after which almost every bank in the country is cutting its interest rates whether it is FD interest rates or loan interest rates. Not only this, many banks are also cutting the interest rates on savings accounts. Now Kotak Mahindra Bank, one of the largest private banks in the country, has also cut the interest rates on its savings accounts.

bKotak Mahindra Bank has cut the interest rates of its savings account by a full 0.25 percent i.e. 25 basis points, after which the bank's customers will now get returns on savings accounts at a lower interest rate. Let us tell you that earlier in February also, Kotak Mahindra Bank had cut the interest rates of its savings account by a full 0.50 percent. In such a situation, now the customers are going to be greatly affected.

New interest rates of Kotak Mahindra Bank Savings Account

After the cut in the interest rates of savings accounts, the bank's customers will now get a total interest of 2.75 percent on deposits up to Rs 50 lakh. At the same time, up to 3.25 percent interest will be available on deposits of more than Rs 50 lakh. In such a situation, if your savings account is in Kotak Mahindra Bank, then now you will get returns on your deposits at a lower interest rate.