Kotak Bank Revises Interest Rates on Term Deposits; Check the new list here

Kotak Mahindra Bank has revised fixed deposit (FD) interest rates for different tenors. From March 9, these new rates apply to time deposits up to Rs 2 crore.

With the new revision, term deposits with a maturity between 365 and 389 days are increased to 5%. The bank now offers interest rates of 2.5% on FDs maturing in 7-30 days, 2.75% on 31-90 days and 3% on 91-120 days.

The bank offers interest rates of 3% to 5.8% for FDs maturing between 7 days and 10 years. FDs with maturities ranging from 181 to 363 days pay 4.40%. The rate is 5.10% for FDs with a maturity of 390 days to less than 23 months.

For DFs with a duration of 3 to 5 years, the interest rate is 5.45%. For 5 years and over up to 10 years inclusive, it is 5.50%.

Seniors will benefit from 50 basis points higher interest rates on DFs.


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