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Business News/ Money / Personal Finance/  Kotak Mahindra Bank hikes fixed deposit rates. Check latest FD interest rates here
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Kotak Mahindra Bank hikes fixed deposit rates. Check latest FD interest rates here

Kotak Mahindra Bank hikes fixed deposit rates: 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

Kotak Mahindra Bank offers the highest FD interest rate of 7.4% on deposits maturing in 390 days to less than 23 months. (Mint)Premium
Kotak Mahindra Bank offers the highest FD interest rate of 7.4% on deposits maturing in 390 days to less than 23 months. (Mint)

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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ABOUT THE AUTHOR
Sangeeta Ojha
A business media enthusiast. Writes on personal finance, business and banking.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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Published: 28 Feb 2024, 01:42 PM IST
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