Kotak Bank hikes savings account, FD interest rates. Check latest rates here
Kotak raises interest rates on savings accounts by 50 basis points on daily balances above ₹50 lakh with effect from June 13. While the bank hiked fixed deposit interest rates by 10 to 25 basis points with effect from June 10.
With RBI hiking its policy repo rate by 50 basis points, many banks have started to follow suit by raising their lending and deposit rates. Private sector bank, Kotak Mahindra Bank is the latest to join the bandwagon for hiking its interest rates on deposits schemes - savings account on daily balances and fixed deposits for various tenors. Customers will be able to enjoy attractive rates on their investments.