Kotak Mahindra Bank has increased the interest rates on its FDs with deposits of less than Rs 2 crore. According to the information given on the bank’s website, the new rates have come into effect from November 1, 2022.
New Delhi. Kotak Mahindra Bank has increased the interest rates on its FDs with deposits of less than Rs 2 crore. According to the information given on the bank’s website, the new rates have come into effect from November 1, 2022. The bank is now offering an interest rate of 2.75% to 6.20% for general public and 3.25% to 6.70% for senior citizens on deposits maturing in 7 days to 10 years.
Whereas on deposits maturing in 23 months to 3 years, the bank is now offering a maximum interest rate of 6.30% for general public and 6.80% for senior citizens.
Kotak Mahindra Bank FD Rates
The bank will get interest at the rate of 2.75 on FDs of 7-14 days and 3.00 percent on FDs with maturity of 15-30 days. FDs maturing in 31 to 45 days will be offered an interest rate of 3.25% and maturing in 46-90 days will now fetch an interest rate of 3.50%, which was 3.25% earlier.
Kotak Mahindra Bank has increased the interest on deposits maturing in 91 – 120 days from 3.75% to 4.00%. Maturity in 121 – 179 days has been increased by 25 bps to 4.25%. On fixed deposits maturing in 180 days to 270 days, the bank has increased the interest rate from 5% to 5.50% and on fixed deposits maturing in 271 days to 363 days from 5.25% to 5.75% . Deposits maturing in 364 days will now get an interest rate of 6.00%. Maturity from 365 days to 389 days will now fetch an interest rate of 6.10% instead of 6%.
Kotak Mahindra Bank has increased the interest rate on deposits maturing in 390 days (12 months 25 days) from 6.10% to 6.25%. On deposits maturing in 23 months to less than 3 years, the bank has increased the interest rate from 6.20% to 6.30% and Kotak Mahindra Bank on FDs maturing in 3 years and above but less than 4 years Offering an interest rate of 6.25%. Deposits maturing in 4 years and above and 10 years combined will now fetch an interest rate of 6.20% as against 6.10% earlier.
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