FD Interest Rate: The bank has changed the interest rates for Fixed Deposits less than Rs 2 crore. According to the official website of Kotak Mahindra Bank, the new rates have become effective from 9 December 2022.
FD Interest Rate: A day after the Repo Rate hike by the Reserve Bank of India (RBI), private sector Kotak Mahindra Bank has given great news to its customers. The bank has changed the interest rates for fixed deposits below Rs 2 crore . According to the official website of Kotak Mahindra Bank, the new rates have become effective from 9 December 2022.
New FD interest rates
Kotak Mahindra Bank is offering 6.50% interest to common citizens and 7% interest to senior citizens on Fixed Deposit maturing in less than 390 days to 2 years.
Kotak Mahindra Bank Latest FD Rates
Private banks are now paying 2.75% on FDs maturing in 7 to 14 days, while 3% on fixed deposits maturing in 15 to 30 days. The interest rates offered by Kotak Mahindra Bank are now 3.25% for deposits maturing in 31 to 45 days and 3.50% for deposits maturing in 46 to 90 days.
Deposits maturing in 91 to 120 days will now fetch 4% interest, while FDs maturing in 121 to 179 days will now fetch 4.25% interest. On Fixed Deposits maturing in 180 days to 270 days, the bank is now offering an interest rate of 5.50% and on those maturing in 271 days to 363 days, Kotak Bank is now offering an interest rate of 5.75%.
This much interest will be received on 364 days FD
Kotak Mahindra Bank is offering an interest rate of 6% on FDs of 364 days and 6.25% on maturity of 365 days to 389 days.
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