Kotak Mahindra Bank hikes fixed deposit rates: Kotak Bank has recently raised its fixed deposit interest rates across various periods. With the latest adjustment, the bank now offers rates ranging from 2.75% to 7.40% for regular customers on deposits maturing in seven days to ten years, effective from February 27, 2024. Previously, Kotak Bank provided rates of 2.75% to 7.25% on FDs maturing in the same time frame.
Fixed Deposits (FDs) or Term Deposits stand as pivotal investment instruments provided by Kotak Mahindra Bank. The bank presents a range of tenures with enticing rates of return on deposits.
Notably, the bank offers the highest FD interest rate of 7.4% on deposits maturing in 390 days to less than 23 months. For deposits maturing in 23 months to less than 2 years, the rate stands at 7.3%. Deposits maturing in 3 years but less than 5 years fetch a 7% interest rate from Kotak Bank.
Kotak Mahindra Bank latest FD rates
7 – 14 Days 2.75%
15 – 30 Days 3.00%
31 – 45 Days 3.25%
46 – 90 Days 3.50%
91 – 120 Days 4.00%
121 – 179 days 4.25%
180 Days 7.00%
181 Days to 269 Days 6.00%
270 Days 6.00%
271 Days to 363 Days 6.00%
364 Days 6.50%
365 Days to 389 Days 7.10%
390 Days (12 months 24 days) 7.40%
391 Days – Less than 23 Months 7.40%
23 Months 7.30%
23 months 1 Day- less than 2 years 7.30%
2 years- less than 3 years 7.15%
3 years and above but less than 4 years 7.00%
4 years and above but less than 5 years 7.00%
5 years and above up to and inclusive of 10 years 6.20%
Kotak Mahindra Bank latest FD rates for senior citizens
Kotak Mahindra Bank offers an interest rate of 3.25% to 7.90% for senior citizens on these deposits.
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Published: 28 Feb 2024, 01:42 PM IST