Kotak Mahindra Bank revises Savings Bank Interest Rate (currently at 4.00% p.a.) upwards with effect from 1st November 2011 as under:
- Balance above Rs. 1 Lakh 6.00% p.a.
- Balance up to Rs. 1 Lakh 5.50% p.a.
Kotak Mahindra Bank Ltd also revises its Base Rate upwards by 25 basis points from 9.75% p.a. to 10.00% p.a. with effect from 1st November, 2011.
All categories of loans (other than the exceptions permitted by RBI) will henceforth be priced with reference to the revised Base Rate.
Further, the Bank revises its Prime Lending Rates upwards by 25 basis points.
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