A fixed deposit (FD) of Kotak Mahindra Bank has revised interest rate on selected maturities with effect from 6th September. Previously, the bank had revised its FD rates on 29th August. As per latest revision, Kotak Mahindra Bank FD interest rates range from 3.50% to 6.80% on maturities with different tenures. For Senior citizen, Kotak Bank offers 50points higher interest rate as compared to the general public for maturing period 7days to 10years. According to the latest revision, the senior citizen interest rate will be ranging between 4.00% to 7.30%.
Here are the latest FD rates (below Rs 2 crore) for the general public:
For maturity less than 1year:
7 – 14 days 3.50%
15 – 30 days 4.00%
31 – 45 days 5.00%
46 – 90 days 5.25%
91 – 120 days 5.50%
121 – 179 days 5.60%
180 days 6.25%
181 days to 269 days 6.25%
270 days 6.25%
271 days to 363 days 6.35%
364 days 6.75%
For maturity between 1 year and 2 years:
365 days to 389 days 6.75%
390 days (12 months 25 days) 6.80%
391 days – less than 23 months 6.70%
23 months 6.70%
23 months 1 day- less than 2 years 6.70%
For maturity between 2 years and 10 years
2 years- less than 3 years 6.50%
3 years and above but less than 4 years 6.25%
4 years and above but less than 5 years 6.25%
5 years and above upto and inclusive of 10 years 6.25%
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