Kotak Mahindra Bank has revised interest rate on fixed deposits (FD) on select maturities effective 6th September. Earlier, the bank had revised the FD rates on 29th August. Now, with the latest revision, Kotak Mahindra Bank FD interest rates range from 3.50% to 6.80% on maturities with different tenures.

For FDs maturing in 7 to 14 days, 15 to 30 days and 31 to 45 days, Kotak Mahindra Bank offers interest rate 3.5%, 4.00% and 5% respectively. After the latest revision, Kotak Mahindra Bank is offering 5.25% interest on FDs between 46-90 days. For 91 to 120 days, the interest rate is 5.50%. Kotak Mahindra Bank pays interest rate of 5.60% on FDs between 121 and 179 days. For term deposits maturing in 180 to 270 days, Kotak Mahindra Bank pays 6.25% interest. For FDs maturing in 271 days to 363 days, Kotak Mahindra Bank offers an interest rate of 6.35%. For deposits maturing in 364 days, the bank offers an interest rate of 6.75%

Kotak Mahindra Bank latest FD rates (below 2 crore) for general public

7 - 14 days 3.50%

15 - 30 days 4.00%

31 - 45 days 5.00%

46 - 90 days 5.25%

91 - 120 days 5.50%

121 - 179 days 5.60%

180 days 6.25%

181 days to 269 days 6.25%

270 days 6.25%

271 days to 363 days 6.35%

364 days 6.75%

Kotak Mahindra Bank latest FD rates (below 2 crore) for general public for maturity between 1 year and 2 years

365 days to 389 days 6.75%

390 days (12 months 25 days) 6.80%

391 days - less than 23 months 6.70%

23 months 6.70%

23 months 1 day- less than 2 years 6.70%

On FDs maturing between one year to 389 days, Kotak Mahindra Bank offers 6.75% interest. For deposits maturing in 390 days, the bank offers an interest rate of 6.80%. For FDs maturing in 391 days to less than 23 months, Kotak Mahindra Bank gives 6.70% interest. For deposits maturing in 23 months to less than 2 years, the bank offers 6.70% interest. After the latest revision, FDs with maturity period 390 days will give the highest interest rate of 6.80%.

Kotak Mahindra Bank latest FD rates (below 2 crore) for general public for maturity between 2 years and 10 years

2 years- less than 3 years 6.50%

3 years and above but less than 4 years 6.25%

4 years and above but less than 5 years 6.25%

5 years and above upto and inclusive of 10 years 6.25%

Kotak Mahindra Bank gives 6.50% interest for deposits maturing in two years to less than 3 years. For FDs maturing in 3 years and above but less than 4 years, the bank offers an interest rate of 6.25%. For term deposits maturity period between 4 years and above but less than 5 years, Kotak Bank gives 6.25% interest. For long-term deposits with maturity 5 years and above upto and inclusive of 10 years, the bank offers 6.25% interest.

Kotak Bank offers 50 basis point higher interest rates to senior citizens as compared to general public on fixed deposits maturing in 7 days to 10 years. Now, with the latest revision, senior citizens will get an interest rate ranging between 4.00% to 7.30%

State Bank of India (SBI),IDBI Bank, Axis Bank, Bank of India and Punjab National Bank (PNB) revised interest rates on fixed deposits in September.

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