Kotak Mahindra Bank increased interest rates on FD, know how much interest is getting now

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Kotak Mahindra Bank has increased the interest rates on its FDs with deposits of less than Rs 2 crore. According to the information given on the bank’s website, the new rates have come into effect from November 1, 2022.

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New Delhi. Kotak Mahindra Bank has increased the interest rates on its FDs with deposits of less than Rs 2 crore. According to the information given on the bank’s website, the new rates have come into effect from November 1, 2022. The bank is now offering an interest rate of 2.75% to 6.20% for general public and 3.25% to 6.70% for senior citizens on deposits maturing in 7 days to 10 years.

Whereas on deposits maturing in 23 months to 3 years, the bank is now offering a maximum interest rate of 6.30% for general public and 6.80% for senior citizens.

Kotak Mahindra Bank FD Rates

The bank will get 2.75 on 7-14 days FD and 3.00 percent interest on FDs with 15-30 days maturity. FDs maturing in 31 to 45 days will be offered an interest rate of 3.25% and maturing in 46-90 days will now fetch an interest rate of 3.50%, which was 3.25% earlier.

Kotak Mahindra Bank has increased the interest on deposits maturing in 91 – 120 days from 3.75% to 4.00%. Maturity in 121 – 179 days has been increased by 25 bps to 4.25%. On fixed deposits maturing in 180 days to 270 days, the bank has increased the interest rate from 5% to 5.50% and on fixed deposits maturing in 271 days to 363 days from 5.25% to 5.75% . Deposits maturing in 364 days will now get an interest rate of 6.00%. Maturity from 365 days to 389 days will now fetch an interest rate of 6.10% instead of 6%.

Kotak Mahindra Bank has increased the interest rate on deposits maturing in 390 days (12 months 25 days) from 6.10% to 6.25%. On deposits maturing in 23 months to less than 3 years, the bank has increased the interest rate from 6.20% to 6.30% and Kotak Mahindra Bank on FDs maturing in 3 years and above but less than 4 years Offering an interest rate of 6.25%. Deposits maturing in 4 years and above and 10 years combined will now fetch an interest rate of 6.20% as against 6.10% earlier.

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