Kotak Mahindra Bank FD Interest Rates: Leading private sector lender Kotak Mahindra Bank has hiked its fixed deposit interest rates recently. The new Kotak Mahindra Bank FD rates are applicable for certain tenures with a deposit value of less than Rs 2 crore. The Kotak Mahindra Bank FD interest rate hike comes within a month after the RBI increased its repo rates by 50 basis points during its monetary policy committee meet held in June.
The latest Kotak Mahindra Bank FD 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 July 1, Friday.
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The bank, in its announcement, has said that it has hiked the interest rate by 10 basis points for a tenure of 390 days, from 5.65 per cent to 5.75 per cent. Kotak Mahindra Bank bank will now offer an interest rate of 5.75 per cent, up from 5.65 per cent before, on deposits maturing between 391 days to less than 23 months
Here are the revised interest rates on fixed deposits below Rs 2 crore at the Kotak Mahindra Bank (per annum) effective from July 1:
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: 3.00 per cent; For Senior Citizens: 3.50 per cent
46 days to 90 days – For General Public: 3.00 per cent; For Senior Citizens: 3.50 per cent
91 days to 120 days – For General Public: 3.50 per cent; For Senior Citizens: 4.00 per cent
121 days to 179 days – For General Public: 3.50 per cent; For Senior Citizens: 4.00 per cent
180 days – For General Public: 4.75 per cent; For Senior Citizens: 5.25 per cent
181 days to 269 days – For General Public: 4.75 per cent; For Senior Citizens: 5.25 per cent
270 days – For General Public: 4.75 per cent; For Senior Citizens: 5.25 per cent
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271 days to 363 days – For General Public: 4.75 per cent; For Senior Citizens: 5.25 per cent
364 days – For General Public: 5.25 per cent; For Senior Citizens: 5.75 per cent
365 days to 389 days – For General Public: 5.50 per cent; For Senior Citizens: 6.00 per cent
390 days (12 months 25 days)- For General Public: 5.75 per cent; For Senior Citizens: 6.25 per cent
391 days to less than 23 months – For General Public: 5.75 per cent; For Senior Citizens: 6.25 per cent
23 months – For General Public: 5.75 per cent; For Senior Citizens: 6.25 per cent
23 months 1 days to less than 2 years – For General Public: 6.25 per cent; For Senior Citizens: 5.75 per cent
2 years to less than 3 years – For General Public: 5.75 per cent; For Senior Citizens: 6.25 per cent
3 years and above but less than 4 years – For General Public: 5.90 per cent; For Senior Citizens: 6.40 per cent
4 years and above but less than 5 years – For General Public: 5.90 per cent; For Senior Citizens: 6.40 per cent
5 years and above up to and inclusive of 10 years – For General Public: 5.90 per cent; For Senior Citizens: 6.40 per cent
