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Kotak Mahindra Bank Hikes Interest Rates On Fixed Deposits (FDs) By Up To 15 Bps

Kotak Mahindra bank has raised its interest rates on fixed deposits. Read on to know the rates for different tenures in detail.

<div class="paragraphs"><p>Source: Partystock on Freepik</p></div>
Source: Partystock on Freepik

Kotak Mahindra, one of the top private sector banks has increased the interest rate on fixed deposits under 2 crore rupees. On November 9, 2022, the new rates went into effect, according to the bank's official website. The bank raised interest rates by up to 15 basis points as a result of the revision. Currently, Kotak Mahindra Bank offers a maximum interest rate on fixed deposits due in 390 days i.e., 12 months 25 days to less than 3 years of 6.30% for the general public and 6.80% for senior citizens.

Kotak Mahindra Bank Fixed Deposit Interest Rates

  • For FDs maturing within 7-14 days: For this duration, the regular FD interest rates are 2.75%. As for senior citizens, the rates are calculated at 3.25% for the same tenure. 

  • For FDs maturing within 15-30 days: For this duration, the regular FD interest rates are 3%. As for senior citizens, the rates are calculated at 3.50% for the same tenure. 

  • For FDs maturing within 31-45 days: For this term, the regular FD interest rates are calculated at 3.25%. As for senior citizens, the rates are calculated at 3.75% for the same tenure. 

  • For FDs maturing within 46-90 days: The regular FD interest rates are 3.50% for this term. As for senior citizens, the rates are calculated at 4% for the same tenure. 

  • For FDs maturing within 91-120 days: For this duration, the regular FD interest rates are 4%. As for senior citizens, the rates are calculated at 4.50% for the same tenure. 

  • For FDs maturing within 121-179 days: The regular FD interest rates for this term is 4.25%. As for senior citizens, the rates are calculated at 4.75% for the same tenure. 

  • For FDs maturing within 180 days: For this duration, the regular FD interest rates are 5.50%. As for senior citizens, the rates are calculated at 6% for the same tenure. 

  • For FDs maturing within 181 days-269 days: For this duration, the regular FD interest rates are at 5.50%. As for senior citizens, the rates remain at 6% for the same tenure. 

  • For FDs maturing within 270 days: For this duration, the regular FD interest rates remain at 5.50%. As for senior citizens, the rates are calculated at 6% for the same tenure. 

  • For FDs maturing within 271 days-363 days: For this duration, the regular FD interest rates are calculated at 5.75%. For senior citizens, the rates are calculated at 6.25% for the same tenure. 

  • For FDs maturing within 364 days: The regular FD interest rates for this term is 6%. As for senior citizens, the rates are calculated at 6.50% for the same tenure. 

  • For FDs maturing within 365 days-389 days: The regular FD interest rates for this term is 6.25%. As for senior citizens, the rates are calculated at 6.75% for the same tenure. 

  • For FDs maturing within 390 days (12 months 25 days): The regular FD interest rates for this term is 6.30%. As for senior citizens, the rates are calculated at 6.80% for the same tenure. 

  • For FDs maturing within 391 days to less than 23 months: The regular FD interest rates for this term is calculated at 6.30%. As for senior citizens, the rates are calculated at 6.80% for the same tenure. 

  • For FDs maturing within 23 months: The regular FD interest rates for this term remains at 6.30%. As for senior citizens, the rates are calculated at 6.80%. 

  • For FDs maturing within 23 months 1 day to less than 2 years: The regular FD interest rates for this term is calculated at 6.30%. For senior citizens, the rates remain at 6.80% for the same duration. 

  • For FDs maturing within 2 years to less than 3 years: The regular FD interest rates for this term remains at 6.30%. As for senior citizens, the rates are 6.80%. 

  • For FDs maturing within 3 years and above but less than 4 years: The regular FD interest rates for this term is calculated at 6.25%. As for senior citizens, the rates are calculated at 6.75%. 

  • For FDs maturing within 4 years and above but less than 5 years: For this term, the regular FD interest rates are calculated at 6.20%. For senior citizens, the rates are calculated at 6.70% for the same tenure. 

  • For FDs maturing within 5 years and above up to and inclusive of 10 years: The regular FD interest rates are calculated at 6.20% for this term. As for senior citizens, the rates remain at 6.70% for the same tenure. 

Disclaimer: The interest rates mentioned in this article are recorded at the time of writing and are subject to change. BQ Prime does not endorse any of the schemes mentioned above. Please invest at your own discretion.