Kotak Mahindra Bank hikes fixed deposit rates. Latest FD interest rates here
PremiumKotak Mahindra Bank revises fixed deposit rates: Senior citizens continue to get 50 basis points higher interest rates than the general public
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Kotak Mahindra Bank has hiked the interest rate on fixed deposits (FD) across various tenors. After the latest revision, for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank offers an interest rate of 2.5%, 2.75% and 3% respectively. These rates are applicable from 6 January 2022.
The bank had last revised FD rates on 30 September 2021.
For term deposits maturing in 121-179 days and 180 days, the bank has hiked the rates by 5 basis points (bps). These deposits will fetch interest rates of 3.25% and 4.3% respectively. FDs with tenure 181 and 363 days will give 4.40% and term deposits maturing in 364 days will now give 10 bps more i.e, 4.5%.
Deposits maturing in 365 days to 389 days will now give 4.9%. FDs maturing in 390 days to Less than 23 months will give 5%
For term deposits maturing in 3 years and above but less than 5years, the bank has hiked rates by 10 bps. These deposits will now give 5.3%. For deposits maturing in 5 years and above up to and inclusive of 10 years, the bank has hiked interest rate by 5 bps, these deposits will now give 5.3%
Kotak Mahindra Bank latest FD rates (below ₹2 crore) for the general public effective 6 January 2022
7 - 14 days 2.50%
15 - 30 days 2.50%
31 - 45 days 2.75%
46 - 90 days 2.75%
91 - 120 days 3%
121 - 179 days 3.25%
180 days 4.3%
181 days to 269 days 4.40%
270 days 4.40%
271 days to 363 days 4.40%
364 days 4.5%
365 days to 389 days 4.9%
390 days (12 months 25 days) 5%
391 days - Less than 23 months 5%
23 months 5.10%
23 months 1 day- less than 2 years 5.10%
2 years- less than 3 years 5.15%
3 years and above but less than 4 years 5.3%
4 years and above but less than 5 years 5.3%
5 years and above up to and inclusive of 10 years 5.3%
Kotak Mahindra Bank latest FD rates (below ₹2 crore) for senior citizens
Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3% to 5.8% on FDs maturing in 7 days to 10 years.
Last month, HDFC Bank and Ujjivan Small Finance Bank announced a hike in FD rates.
