Kotak Mahindra Bank Revises Interest Rates on Fixed Deposits - EPrajatantra

Kotak Mahindra Bank Revises Interest Rates on Fixed Deposits


The interest rates on fixed deposits have recently been revised by Kotak Mahindra Bank. Regular customers will now be able to enjoy an interest rate of up to 4.75 percent. 

There is a further increase in interest rates for senior citizens. The bank's interest rates are available on the bank's website. The new interest rates will be applicable for recurring deposits of 24 months or more.

The interest rates on fixed deposits have been revised by Kotak Mahindra Bank. The new rates are effective on January 6, 2022, and the current interest rates on deposits from seven to 30 days will be 2.75 percent. 

The interest rate on FDs between 31 and 90 days will be three percent. The interest rate on FDs from 91 to 120 days will be 4.75 per cent.

The interest rates on fixed deposits were last revised on September 30. The bank is now offering higher interest rates to attract customers. It has introduced a new scheme that offers a 2.75% interest rate on FDs of seven to 30 days and 2.75 percent on 31-90 days. The new interest rate will be available on FDs for 91 to 120 days and will be effective from that date.

The interest rates on FDs at Kotak Mahindra Bank have also been revised. The new interest rates will be available for fixed deposits of less than Rs 2 crore. These changes will be effective from January 6, 2022. The interest rates offered by the bank on FDs were last revised on September 30, 2021. 

As of now, the interest rate on FDs from Kotak is 2.5 per cent for seven-to-30-day FDs, 2.75 per cent for 31-to-90-day FDs and three per cent for 91-day FDs.

The interest rate on fixed deposits at Kotak Mahindra Bank has also revised its FD rates. For fixed deposits of less than Rs 2 crore, the new rates will be effective from January 6, 2022. 

The bank previously revised its FD rates on September 30, 2021. The current interest rate for 7-to-30-day FDs is 2.5 per cent. The rate on 31-to-90-day FDs is 3.0 percent.

The bank has also changed the interest rates on recurring deposits. The interest rate on FDs for two-to-three-years will now be 4.25 per cent. For FDs of less than five-year maturity, the rate will be 4.75 per cent. 

The new rates will be effective from September 30. If you have a FD that is more than two crores, it will be possible to earn more than ten percent interest with the new rates.

The bank offers a variety of FDs at various maturity dates. On term deposits of 121-day to 179-days, the bank will offer a 4.75 percent interest rate. 

It also offers a 5.20% return on FDs of three-years to five-year maturity. For a longer-term deposit, you will find the interest rate to be higher.

Currently, the bank offers five FDs for different lengths of time. Its shortest term FDs will be available for less than 12 months. Meanwhile, the bank's shortest term FD will be available for more than 60 months. If you are in the market for a longer-term FD, you can consider a 4.25% rate.

The bank has also changed its interest rates on FDs for domestic term deposits. Currently, the bank offers a 2.5% interest rate on FDs for seven to thirty days, 2.75% for FDs of 31 to 90 days, and 3% for FDs of 91 to 120 days. 

In addition, the bank offers fixed deposit options with low monthly, and a one-time payment of 0.25%.

The bank's FDs are offered for different durations. The bank's short term FDs will offer a 3.25% interest rate, while its long-term FDs will give you 4.40%. 

Its longer-term RDs will pay you a higher interest rate. The upcoming Kotak FD rates will be dependent on the repo rate of the RBI.

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