The bank is paying 2.75 per cent to 6.20 per cent interest to the general public and 3.25 per cent to 6.70 per cent to senior citizens on FDs ranging from seven days to ten years.
Kotak Mahindra Bank FD Rate: Kotak Mahindra Bank, one of the country’s largest private lenders, has increased its fixed deposit interest rates. Today i.e. from February 27, 2023, the increased interest rates of fixed deposits of Kotak Mahindra Bank have come into force. The revised interest rates are applicable for Domestic, NRO and NRE FDs with premature withdrawal option.
The bank is paying 2.75 per cent to 6.20 per cent interest to the general public and 3.25 per cent to 6.70 per cent to senior citizens on FDs ranging from seven days to ten years. Effective from today, the maximum interest rate on FDs of 390 days (12 months 25 days) to less than 2 years will be 7.70 percent for senior citizens and 7.20 percent for non-senior citizens.
Kotak Mahindra Bank FD Rates
The bank will now give 2.75 percent interest rate on FD for the next 7 to 14 days.
The bank will give 3 percent interest rate on FD for the next 15 to 30 days.
Kotak Mahindra Bank will give 3.25% interest rate on FDs of 31 to 45 days.
Is giving 3.50 percent interest rate on FD of 46 to 90 days.
- FDs between 91 and 120 days will now get 4 percent interest.
- FDs between 121 and 179 days will now get 4.25 per cent interest.
- The bank will give an interest rate of 6 percent on FDs of 180 days to 363 days.
- Kotak Mahindra Bank will get an interest rate of 6.25% on 364 days FD.
- The bank will get 7 percent interest rate on FDs ranging from 365 days to 389 days.
7.20 percent interest rate will be available on FDs ranging from 390 days to less than 2 years. - The interest rate on FDs maturing in two to three years will now be 6.75%.
- Bank investors will have 6.50% interest rate on FDs of three to four years.
- 6.25% interest will be given on FDs of 4 years or more but less than 5 years.
- 6.20% interest will be given on FDs of 5 years or more but up to 10 years.
Features of Bank FD
To open an FD account in Kotak Mahindra Bank, a minimum deposit of Rs 5,000 will be required. You can choose from cumulative, monthly or quarterly payment options for FD interest amount with Kotak Mahindra Bank. Also, the bank allows partial or premature withdrawal of the FD amount, thereby providing complete flexibility to the depositors in terms of liquidity.
All resident individuals can invest in Kotak Mahindra Bank FDs, whether they are Indian citizens, NRIs, senior citizens or HUF members. They can go to net-banking or mobile banking and book an FD instantly if they already have a Kotak Mahindra Bank savings account or current account.
