Kotak Mahindra Bank has revised the interest rate on fixed deposits (FD). Kotak Mahindra Bank offers an interest rate of 2.5 percent, 2.75 percent, and 3.25 percent on FDs maturing in 7 to 30 days, 31 to 90 days, and 91 to 179 days respectively. Kotak Mahindra Bank pays 4.40 percent interest for term deposits maturing in 180 days to less than a year. The bank gives 4.50 percent for deposits maturing in one year to 389 days.
The bank will give 4.90 percent for FDs maturing in 390 days to less than 23 months. Kotak Mahindra Bank will give a 5 percent interest rate for deposits maturing in 23 months to less than 3 years. The bank will give 5.10 percent for term deposits maturing in 3 years and above but less than 4 years. Kotak Mahindra Bank gives a 5.25 percent interest rate for deposits maturing in 4 years and above but less than 5 years. The bank gives 5.30 percent for FDs maturing in 5 years and above up to and inclusive of 10 years. These rates are applicable from March 25, 2021.
Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3 percent to 5.8 percent on FDs maturing in 7 days to 10 years.
Here are the latest interest rates on fixed deposit by Kotak Mahindra Bank
|Maturing Period||Interest Rates|
|7 - 30 days||2.50%|
|31 - 90 days||2.75%|
|91 - 179 days||3.25%|
|180 - 364 days||4.40%|
|365 -389 days||4.50%|
|390 - Less than 23 months||4.90%|
|23 months - 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%|