Kotak Mahindra Bank Mumbai Service Manager Salaries by 50+ Employees (Updated 2025)

2 - 14 years exp.

₹2.5 Lakhs - ₹14 Lakhs

Avg. annual salary

Fixed

₹

Lakhs

Variable

₹

Monthly In-hand Salary

At par with the average Service Manager Salary in Banking Companies for 2 - 14 years of experience

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Salaries in different departments

BFSI, Investments & Trading Service Manager Salary 2 - 14 years exp. (22 salaries)	₹3.4 L/yr - ₹14 L/yr
Customer Success, Service & Operations Service Manager Salary 2 - 12 years exp. (21 salaries)	₹2.2 L/yr - ₹13.5 L/yr
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Finance & Accounting Service Manager Salary 3 - 9 years exp. (7 salaries)	₹3 L/yr - ₹12.9 L/yr
Data Science & Analytics Service Manager Salary 4 years exp. (AmbitionBox Estimate)	₹4.1 L/yr - ₹13.2 L/yr
Sales & Business Development Service Manager Salary 7 years exp. (AmbitionBox Estimate)	₹6.8 L/yr - ₹13.3 L/yr

Last Updated: 22 Mar 2025

Companies similar to Kotak Mahindra Bank for Service Manager in Mumbai

Kotak Mahindra Bank Service Manager Salary

2 - 14 years exp. (58 salaries)

₹2.5 L/yr - ₹14 L/yr

Company name	Avg Annual Salary	Open Jobs
Yes Bank Service Manager Salary 2 - 8 years exp. (13 salaries)	₹3 L/yr - ₹9 L/yr 38% less
ICICI Bank Service Manager Salary 2 - 8 years exp. (13 salaries)	₹3.3 L/yr - ₹10.4 L/yr 35% less	3 job openings
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HDFC Bank Service Manager Salary 3 - 11 years exp. (12 salaries)	₹4.5 L/yr - ₹8.5 L/yr 24% less
Axis Bank Service Manager Salary 1 - 10 years exp. (10 salaries)	₹3.5 L/yr - ₹11.2 L/yr 13% less
IDFC FIRST Bank Service Manager Salary 4 - 9 years exp. (5 salaries)	₹3.5 L/yr - ₹6.9 L/yr 37% less
RBL Bank Service Manager Salary 6 - 11 years exp. (4 salaries)	₹5.5 L/yr - ₹9.1 L/yr 30% less
IndusInd Bank Service Manager Salary 2 - 6 years exp. (3 salaries)	₹3 L/yr - ₹5.5 L/yr 47% less	4 job openings

Service Manager salary at Kotak Mahindra Bank ranges between ₹2.5 Lakhs to ₹14 Lakhs per year for employees with experience between 2 years to 14 years. Salary estimates are based on 58 latest salaries received from various employees of Kotak Mahindra Bank.

Latest annual salaries shared by Kotak Mahindra Bank Service Manager in Mumbai

2w ago

₹13 Lakhs

12 years exp.

2w ago

₹9 Lakhs

8 years exp.

4w ago

₹12 Lakhs

12 years exp.

4w ago

₹12 Lakhs

11 years exp.

1mo ago

₹11.4 Lakhs

12 years exp.

1mo ago

8 years exp.

2mo ago

10 years exp.

2mo ago

9 years exp.

2mo ago

11 years exp.

3mo ago

7 years exp.

Experience wise Kotak Mahindra Bank Service Manager salaries in Mumbai

Last Updated: 22 Mar 2025

Experience	Avg Annual Salary
2 years (AmbitionBox Estimate)	₹2.2 L/yr - ₹2.8 L/yr
3 years (5 salaries)	₹3 L/yr - ₹5 L/yr
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4 years (3 salaries)	₹3.5 L/yr - ₹5 L/yr
5 years (4 salaries)	₹4.7 L/yr - ₹5.8 L/yr
6 years (7 salaries)	₹3 L/yr - ₹9.5 L/yr
7 years (5 salaries)	₹4.2 L/yr - ₹12.5 L/yr
8 years (6 salaries)	₹3 L/yr - ₹9 L/yr
9 years (AmbitionBox Estimate)	₹7.7 L/yr - ₹9.8 L/yr
10 years (8 salaries)	₹7.8 L/yr - ₹13 L/yr
11 years (7 salaries)	₹5.5 L/yr - ₹12.5 L/yr
12 years (7 salaries)	₹8.5 L/yr - ₹13.5 L/yr
13 years (AmbitionBox Estimate)	₹10.3 L/yr - ₹13.2 L/yr
14 years (AmbitionBox Estimate)	₹10.9 L/yr - ₹13.9 L/yr

View all

From

Service Manager

₹

Lakhs/yr

2 - 16 years exp.

Regional Sales Manager

₹

Lakhs/yr

12 - 19 years exp.

Service Manager

2 - 16 years exp.

Branch Manager

8 - 20 years exp.

107% hike

Area Business Manager

8 - 19 years exp.

1% hike

From

View 3 more levels

Service Manager

2 - 16 years exp.

Senior Regional Business Manager

Salary unavailable

From

View 1 more level

Service Manager

2 - 16 years exp.

Regional Asset Manager

15 - 17 years exp.

Disclaimer: Our data limits the visualization of this career path at this point. However, other roles and opportunities might be available within the organization beyond what is shown here.

Similar Designation salaries in Kotak Mahindra Bank

Deputy Manager Salary

(3.4k salaries)

₹1.65 L/yr - ₹8.2 L/yr

Sales Manager Salary

(133 salaries)

₹1.8 L/yr - ₹10.7 L/yr

Area Manager Salary

(8 salaries)

₹9 L/yr - ₹28.72 L/yr

Territory Manager Salary

(4 salaries)

₹10 L/yr - ₹15 L/yr

Service Head Salary

(3 salaries)

₹3.3 L/yr - ₹24.5 L/yr

Top skills at Kotak Mahindra Bank for Service Manager

Branch Operations

Salary related reviews for Kotak Mahindra Bank

3.7

Rated by 9 employees for salary & benefits

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

3.0

• posted on 11 Jun 2024

2.0

for Salary and Benefits

Likes

The company is good if you are mediocre in performance and can live with less payment. The company has less clients and similary cannot pay employees much. They have very less promotion buckets and blatantly lie to people for the same.

Job security - Good

+2 more

Dislikes

Salary, promortion - these are the worst over here.

Salary - Poor

+1 more

Deputy Manager in Vadodara

Full Time

BFSI, Investments & Trading Department

1.0

• posted on 18 May 2024

3.0

for Salary and Benefits

Likes

Kotak pays good salary and promotions are totally based on your performance.

Skill development - Good

+1 more

Dislikes

The attrition rate is 56%, one of the highest in the industry. You don't get Saturdays and they act fussy when you ask for a well deserved general leave. The pressure of doing sales is eminent, even in impossible scenarios. The new CEO wants to make it JP morgan of India, but the way they are doing it is laughable.

Work satisfaction - Bad

+2 more

Deputy Manager in Kolkata

Full Time

Sales & Business Development Department

1.0

• posted on 10 Mar 2024

2.0

for Salary and Benefits

Likes

Apprisal system is based on own performance and productivity. No recommendation required from the any line managers.

Job security - Good

Dislikes

Not pay enough as per the industry. No work life balance as you have to work on weekends and public holidays. Toxic work culture along with bad words if sales is not happening. If sale's not completed the you have to spend your own money for the target achievement.

Salary - Poor

+4 more

Deputy Manager in Mumbai

Full Time

Finance & Accounting Department

3.0

• posted on 30 Dec 2023

3.0

for Salary and Benefits

Likes

Work life balance is very good. That is the only good part.

Work-life balance - Good

Dislikes

Gratuity to be paid after 5 yrs is added in CTC. Salary hike is not more than 5% if ur not a CA. Manager will forcibly tell us to come to Diwali party and other festivities but will not pay a single rupee for food and fun activities. Employees are forced to pay. Even picnics are organised on employee money but bank does not pays a single rupee. And if any employee refuses to pay then they r accused on non bonding wid team.

Skill development - Poor

+1 more

Deputy Manager in Thane

Full Time

Customer Success, Service & Operations Department

3.0

• posted on 18 Nov 2023

2.0

for Salary and Benefits

Likes

Work profile and process is good.

Dislikes

Bad management they hire TL who ask money from their employees and do not return. no work-life balance less salary package only fancy designations are given which does not have a value in the market if u go out.No job security HR listens more to management then employees do not support after you leave the job or be on the job.They do not invest in their system updates but only on themselves.

Salary - Poor

+4 more

see more salary related reviews

Discover interview dos and don'ts from real experiences

What people are saying about Kotak Mahindra Bank

View All

a manager

Ambiguity in JOB offer.

I recently changed my Job as Business Manager with Arka Fincap, but some how I also selected as BM(Branch manager) with HDB financial and Varthana finance. I am very confused, to what I will do. CTC would be same approximately. Suggest me right decision with reason... 1. I can continue with Arka Fincap. 2. Will join HDB financial as BM. 3. Will join Varthana finance as BM. Your feedback will be appreciated.

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Kotak Mahindra Bank Service Manager Salary FAQs

What is the salary of Service Manager at Kotak Mahindra Bank in Mumbai?

The average salary of a Service Manager at Kotak Mahindra Bank in Mumbai typically ranges from ₹2.5 Lakhs to ₹14.0 Lakhs per year, depending on experience (from 2 years to 14 years).

The top 10% of Service Manager in Mumbai at Kotak Mahindra Bank earn more than ₹12.7 Lakhs per year, and the top 1% earn over ₹14.0 Lakhs per year. Service Manager Salaries at Kotak Mahindra Bank can be higher or lower depending on factors such as the specific team, level of experience, and additional benefits like bonuses and stock options.

These estimates are based on salary data submitted by 50+ Kotak Mahindra Bank employees in India.

What is the estimated take home salary of a Service Manager at Kotak Mahindra Bank in Mumbai?

The estimated take-home salary of a Service Manager at Kotak Mahindra Bank in Mumbai typically ranges from ₹60,999 to ₹62,544 per month. This is based on the average salary range of ₹2.5 Lakhs to ₹14.0 Lakhs per year for employees with experience ranging from 2 years to 14 years.The take-home salary is calculated after accounting for standard deductions such as taxes, provident fund (PF), and insurance. Salary estimates are based on 50+ salaries received from various employees of Kotak Mahindra Bank. Check how we calculate in-hand salary with our in-hand salary calculator.

What are the key skills required to be a Service Manager at Kotak Mahindra Bank in Mumbai?

Branch Operations is a popular skill required to work as a Service Manager at Kotak Mahindra Bank.

What is the salary of a Service Manager in companies similar to Kotak Mahindra Bank in Mumbai?

The salary of a Service Manager at companies similar to Kotak Mahindra Bank in Mumbai varies, depending on the role, experience, and company size. Here are the typical salary ranges:

Axis Bank	₹3.5 Lakhs to ₹11.2 Lakhs per year
HDFC Bank	₹4.5 Lakhs to ₹8.5 Lakhs per year
RBL Bank	₹5.5 Lakhs to ₹9.1 Lakhs per year
ICICI Bank	₹3.3 Lakhs to ₹10.4 Lakhs per year
IDFC FIRST Bank	₹3.5 Lakhs to ₹6.9 Lakhs per year

These companies, which operate in similar sectors, offer competitive salaries, although the range can vary based on the company and individual experience levels.

How the salary growth look like for a Service Manager at Kotak Mahindra Bank in Mumbai?

The salary growth for a Service Manager at Kotak Mahindra Bank in Mumbai depends on factors such as experience, performance, and promotions. On average, a Service Manager in Mumbai can expect the following growth trajectory at Kotak Mahindra Bank:

Experience	Average Salary Range
2 years	₹2.2 Lakhs to ₹2.8 Lakhs per year
3 years	₹3.0 Lakhs to ₹5.0 Lakhs per year
4 years	₹3.5 Lakhs to ₹5.0 Lakhs per year
5 years	₹4.7 Lakhs to ₹5.8 Lakhs per year

and so on.

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Kotak Mahindra Bank Service Manager Salaries in Mumbai

Kotak Mahindra Bank Service Manager salary in Mumbai ranges between ₹2.5 Lakhs to ₹14 Lakhs with an average annual salary of ₹. Salary estimates are based on 58 Kotak Mahindra Bank latest salaries received from various employees of Kotak Mahindra Bank.