Kotak Mahindra Bank has revised the interest rate on fixed deposits (FD). For FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 179 days, Kotak Mahindra Bank offers an interest rate of 2.5%, 2.75% and 3.25% respectively. For term deposits maturing in 180 days to less than a year, Kotak Mahindra Bank pays 4.40% interest. For deposits maturing in one year to 389 days, the bank gives 4.50%.
For FDs maturing in 390 days to less than 23 months, the bank will give 4.90%. For deposits maturing in 23 months to less than 3 years, Kotak Mahindra Bank will give a 5% interest rate. For term deposits maturing in 3 years and above but less than 4 years, the bank will give 5.10%. For deposits maturing in 4 years and above but less than 5 years, Kotak Mahindra Bank gives a 5.25% interest rate. For FDs maturing in 5 years and above up to and inclusive of 10 years, the bank gives 5.30%. These rates are applicable from 25 March 2021.
Kotak Mahindra Bank latest FD rates (below ₹2 crore) for the general public effective 25 March 2021
7 – 14 days 2.50%
15 – 30 days 2.50%
31 – 45 days 2.75%
46 – 90 days 2.75%
91 – 120 days 3.25%
121 – 179 days 3.25%
180 days 4.40%
181 days to 269 days 4.40%
270 days 4.40%
271 days to 363 days 4.40%
364 days 4.40%
365 days to 389 days 4.50%
390 days (12 months 25 days) 4.90%
391 days – Less than 23 months 4.90%
23 months 5%
23 months 1 day- less than 2 years 5%
2 years- less than 3 years 5%
3 years and above but less than 4 years 5.10%
4 years and above but less than 5 years 5.25%
5 years and above up to and inclusive of 10 years 5.30%
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.
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