Kotak Mahindra Bank FD Rates: After SBI, HDFC Bank and Canara Bank, now there is news to please the customers of Kotak Mahindra Bank.
New Delhi: Kotak Mahindra Bank FD Rates: After SBI, HDFC Bank and Canara Bank, now there is news to please the customers of Kotak Mahindra Bank. Leading private sector bank Kotak Mahindra has changed the interest rates on fixed deposits (FD) of different tenors.
Rates effective from March 9
The new interest rates of the bank are for all domestic and NRE customers. The new FD rates of the bank have been made effective from March 9. Let us tell you that the new rates will be applicable on FDs up to Rs 2 crore.
New rates after change
Kotak Mahindra Bank has increased the FD maturing in 365 to 389 days to 5 percent. Earlier the bank was paying 4.9 percent interest on this period. The bank has now decided to give interest at the rate of 2.5 percent on FDs of 7 to 30 days, 2.75 percent on FDs of 31 to 90 days and 3 percent on FDs maturing in 91 to 120 days.
Senior citizens will get additional interest
Kotak Mahindra Bank will pay 4.40 percent interest on FDs with maturity of 181 to 363 days, while 4.50 percent interest on FDs with maturity of 364 days. FDs maturing in 390 days and less than 23 months will be paid at the rate of 5.10 percent. Senior citizens will get .50 percent additional interest on FDs of each term.
Interest on FD in SBI
7 days to 45 days—–2.90 %
from 46 days to 179 days—–3.90%
from 180 days to 210 days—–4.40%
from 211 days to less than 1 year– —4.40%
for more than 1 year and less than two years—–5.10 % for
more than 2 years and less than 3 years—–5.20 % Above
3 years and less than 5 years For—–5.45 % For
5 years to 10 years—–5.50 %
(Source: www.paisabazaar.com ) (Additional interest of 0.50 per cent per tenor for senior citizens)
Interest earned on FD in HDFC
7 to 14 days—–2.50 %
15 to 29 days—–2.50 %
30 to 45 days—–3.00 %
46 days to 60 days—–3.00 %
61 Days to 90 Days—–3.00 %
91 Days to 6 Months—–3.50 %
6 Months 1 Day to 9 Months—-4.40%
9 Months 1 Day to Less than 1 Year —-4.40%
for 1 year—-5.00% for
1 year 1 day to 2 years—-5.00% for
2 years 1 day to 3 years—-5.20%
3 Year 1 Day to 5 Years—-5.45%
5 Years 1 Day to 10 Years—–5.60%
(Source : www.paisabazaar.com ) (0.50 per term for Senior Citizens) percent extra interest)
