OPEN APP
Home / Money / Personal Finance /  Kotak Mahindra Bank hikes fixed deposit rates. Latest FD interest rates here
Listen to this article

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.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Never miss a story! Stay connected and informed with Mint. Download our App Now!!

Close
×
Edit Profile
Get alerts on WhatsApp
My ReadsRedeem a Gift CardLogout