Kotak Mahindra Bank Fixed Deposits Rate: Leading private lender Kotak Mahindra Bank has once again hiked the interest rates on fixed deposits (FD) of different tenures. The latest FD rate hike is only applicable on amounts of less than Rs 2 crore, Kotak Mahindra Bank has said on its website. The new rates are applicable to Domestic / NRO / NRE fixed deposit accounts. However, senior citizen rates are not applicable on NRO/NRE deposits, Kotak Mahindra Bank has said. The new rates have come into effect from April 12, Thursday.
The bank, in its announcement, has said that has hiked the interest rate by 25 basis points for tenures between 121 days and 179 days, and for 364 days. These fixed deposits will earn an interest at the rates of 4.50 per cent an 4.75 per cent respectively. The bank will now offer an interest rate of 5.50 per cent up from 5.45 per cent before on deposits maturing in four years or more but less than five years.
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Here are the revised interest rates on fixed deposits below Rs 2 crore at the Kotak Mahindra Bank (per annum):
7 days to 14 days – For General Public: 2.50 per cent; For Senior Citizens: 3.00 per cent
15 days to 30 days – For General Public: 2.50 per cent; For Senior Citizens: 3.00 per cent
31 days to 45 days – For General Public: 2.75 per cent; For Senior Citizens: 3.25 per cent
46 days to 90 days – For General Public: 2.75 per cent; For Senior Citizens: 3.25 per cent
91 days to 120 days – For General Public: 3.00 per cent; For Senior Citizens: 3.50 per cent
121 days to 179 days – For General Public: 3.50 per cent; For Senior Citizens: 4 per cent
180 days – For General Public: 4.50 per cent; For Senior Citizens: 5 per cent
181 days to 269 days – For General Public: 4.50 per cent; For Senior Citizens: 5 per cent
270 days – For General Public: 4.50 per cent; For Senior Citizens: 5 per cent
271 days to 363 days – For General Public: 4.50 per cent; For Senior Citizens: 5 per cent
364 days – For General Public: 4.75 per cent; For Senior Citizens: 5.25 per cent
365 days to 389 days – For General Public: 5.10 per cent; For Senior Citizens: 5.60 per cent
390 days (12 months 25 days)- For General Public: 5.20 per cent; For Senior Citizens: 5.70 per cent
391 days to less than 23 months – For General Public: 5.20 per cent; For Senior Citizens: 5.70 per cent
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23 months – For General Public: 5.25 per cent; For Senior Citizens: 5.75 per cent
23 months 1 days to less than 2 years – For General Public: 5.25 per cent; For Senior Citizens: 5.75 per cent
2 years to less than 3 years – For General Public: 5.30 per cent; For Senior Citizens: 5.80 per cent
3 years and above but less than 4 years – For General Public: 5.45 per cent; For Senior Citizens: 5.95 per cent
4 years and above but less than 5 years – For General Public: 5.50 per cent; For Senior Citizens: 6 per cent
5 years and above up to and inclusive of 10 years – For Public: 5.60 per cent; For Senior Citizens: 6.10 per cent
