Latest FD rates of Kotak Mahindra Bank are effective from today: Details inside
2 min read 20 Mar 2023, 02:33 PM ISTThe interest rates on domestic fixed deposits under ₹2 crore have been revised by private sector lender Kotak Mahindra Bank.
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The interest rates on domestic fixed deposits under ₹2 crore have been revised by private sector lender Kotak Mahindra Bank. For deposits maturing in 7 days to 10 years, the general public can earn interest rates varying from 2.75% to 6.20%, while senior citizens can obtain rates ranging from 3.25% to 6.70%. For elderly customers. For deposits with periods between 390 days (12 months 24 days) and less than two years, Kotak Mahindra Bank now offers a maximum interest rate of 7.20% for non-senior citizens and 7.70% for elderly individuals. On March 20, 2023, the new rates will take effect, according to the bank's official website.
Kotak Mahindra Bank FD Rates
The interest rates offered by Kotak Mahindra Bank will remain at 2.75% for deposits maturing in 7 to 14 days and at 3.00% for deposits maturing in 15 to 30 days. For deposits maintained for 31 to 45 days, Kotak Mahindra Bank will continue to pay 3.25% interest, and on deposits held between 46 to 90 days, 3.50% interest. Deposits with maturities between 91 and 120 days will continue to pay 4.00% interest, and deposits with maturities between 121 and 179 days will continue to pay 4.25% interest.
The interest rate on domestic term deposits maturing in 180 days will be fixed at 6.50%; that rate will remain the same for deposits maturing in 181 days to 363 days. On deposits kept for 364 days or less, Kotak Mahindra Bank will continue to pay a 6.25% interest rate, and on deposits held for 365 days to 389 days, a 7.00% interest rate.
Deposits with maturities of 390 days (12 months 24 days) to less than 2 years will continue to pay 7.20%, while those with maturities of 2 years or more but less than 3 years will now pay 7.00%. Deposits with maturities of 390 days (12 months 24 days) to less than 2 years will continue to pay 7.20%, while those with maturities of 2 years or more but less than 3 years will now pay 7.00%. The interest rate on fixed deposits that mature in 3 years or more but less than 4 years will remain at 6.50%, while the interest rate on deposits that mature in 4 years or more but less than 5 years will stay unchanged at 6.25%. On deposits of 5 years or longer, up to and including 10 years, Kotak Mahindra Bank will continue to give a 6.20% interest rate.
A minimum fixed deposit of Rs. 5,000 is required to create a fixed deposit account with Kotak Mahindra Bank. With the bank, you have the option of a cumulative, monthly, or quarterly interest payment.
