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Kotak Mahindra Bank has revised the interest rate on fixed deposits (FD). Now, with the latest revision, Kotak Mahindra Bank FD interest rates range from 2.50 per cent to 5.25 per cent on maturities with different tenures. For FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 179 days, Kotak Mahindra Bank offers an interest rate 2.5 per cent, 2.75 per cent, and 3.25 per cent respectively. For term deposits maturing in 180 days to less than a year, Kotak Mahindra Bank pays 4.40 per cent interest.
For deposits maturing in one year to 389 days, the bank gives 4.50 per cent. For FDs maturing in 391 days to less than 2 years, the bank gives 4.75 per cent. For deposits maturing in 2 years to less than 3 years, Kotak Mahindra Bank will give a 5 per cent interest rate. For term deposits maturing in 3 years and above but less than 4 years, the bank gives 5.10 per cent. For deposits maturing in 4 years and above but less than 5 years, Kotak Mahindra Bank gives 5.25 per cent interest rate. For FDs maturing in 5 years and above up to and inclusive of 10 years, the bank gives 5.25 per cent. These rates are applicable from 4 February 2021.
Kotak Mahindra Bank latest FD rates (below Rs 2 crores) for the general public effective 4 February 2021
7 – 14 days 2.50%
15 – 30 days 2.50%
31 – 45 days 2.75%
46 – 90 days 2.75%
91 – 120 days 3.25%
121 – 179 days 3.25%
180 days 4.40%
181 days to 269 days 4.40%
270 days 4.40%
271 days to 363 days 4.40%
364 days 4.40%
365 days to 389 days 4.50%
390 days (12 months 25 days) 4.75%
391 days – Less than 23 months 4.75%
23 months 4.75%
23 months 1 day- less than 2 years 4.75%
2 years- less than 3 years 5%
3 years and above but less than 4 years 5.10%
4 years and above but less than 5 years 5.20%
5 years and above up to and inclusive of 10 years 5.25%
Kotak Mahindra Bank latest FD rates (below Rs 2 crores) for senior citizens
Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3 per cent to 5.75 per cent on FDs maturing in 7 days to 10 years.
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