Kotak Bank Revised FD rates: As the Reserve Bank of India did not announce any changes in the repo rate earlier last week, Kotak Mahindra Bank once again increased the interest rates on Fixed Deposits (FD). The private lender hiked the interest rate on FDs between 3 years to 4 years by 0.50 percent.
The interest rate on Fixed Deposits above 4 years and below 5 years has been increased by 0.75 percent. The revised interest rate will be implemented from December 11, 2023.
Bank Provides FDs ranging between 7 days to 10 years
The private sector bank is currently offering interest ranging from 2.75 percent to 6.20 percent for FDs ranging from 7 days to 10 years. Kotak Bank is offering interest a maximum of 7.25 percent to general customers and 7.75 percent to senior citizens on FDs.
Kotak Bank Revised FD rates
Fixed deposit ranging from 7 days to 14 days – For the general public- 2.75 percent, For senior citizens – 3.25 percent
Fixed deposit ranging from 15 days to 30 days – For the general public – 3.00 percent, For senior citizens – 3.50 percent
Fixed deposit ranging from 31 days to 45 days – For the general public – 3.25 percent, For senior citizens – 3.75 percent
Fixed deposit ranging from 46 days to 90 days – For the general public – 3.50 percent, For Senior Citizens – 4.00 percent
Fixed deposit ranging from 91 days to 120 days – For the general public – 4.00 percent, For senior citizens – 4.50 percent
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Fixed deposit ranging from 121 days to 179 days – For the general public – 4.25 percent, For senior citizens – 4.75 percent
Fixed deposit ranging 180 days – For the general public – 7 percent, For senior citizens – 7.50 percent
Fixed deposit ranging from 181 days to 269 days – For the general public – 6 percent, For senior citizens – 6.50 percent
Fixed deposit ranging 270 days – For the general public – 6 percent, For senior citizens- 6.50 percent
Fixed deposit ranging from 271 days to 363 days – For the general public – 6 percent, For senior citizens – 6.50 percent
Fixed deposit ranging 364 days – For the general public – 6.50 percent, For senior citizens – 7 percent
Fixed deposit ranging from 365 days to 389 days – For the general public – 7.10 percent, For senior citizens – 7.60 percent
Fixed deposit ranging 390 days (12 months 25 days) – For the general public – 7.15 percent, For senior citizens – 7.65 percent
Fixed deposit ranging from 391 days to less than 23 months – For the general public – 7.20 percent, For senior citizens – 7.70 percent
Fixed deposit ranging 23 months – For the general public – 7.25 percent, For senior citizens – 7.75 percent
Fixed deposit ranging from 23 months 1 day to less than 2 years – For the general public – 7.25 percent, For senior citizens – 7.75 percent
Fixed deposit ranging from 2 years to less than 3 years – For the general public – 7.10 percent, For senior citizens – 7.60 percent
Fixed deposit ranging 3 years above but less than 4 years – For the general public – 7 percent, For senior citizens – 7.60 percent
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Fixed deposit ranging 4 years and above but less than 5 years – For the general public – 7 percent, For senior citizens – 7.50 percent
Fixed deposit ranging 5 years and above up to and including 10 years – For the general public – 6.20 percent, For senior citizens – 6.70 percent.
