Kotak Mahindra Bank Revises Fixed Deposit Interest Rates

Kotak Mahindra Bank revised its fixed deposit (FD) interest rates with effect from February 21, 2019, said the private sector lender on its website, kotak.com. The bank has revised the interest rates on select maturities. On maturity periods of 180 days, 181 days to 269 days and 270 days, the bank is now offering 6.75 per cent to general public and 7.25 per cent to senior citizens on FDs up to Rs. 1 crore, according to the lender's website. Previously, Kotak Mahindra Bank paid interest at the rate of 7 per cent to the general public and 7.5 per cent to the senior citizens on FDs of the same amount in the three maturities. 

Kotak Mahindra Bank revised its fixed deposit (FD) interest rates with effect from February 21, 2019, said the private sector lender on its website, kotak.com. The bank has revised the interest rates on select maturities. On maturity periods of 180 days, 181 days to 269 days and 270 days, the bank is now offering 6.75 per cent to general public and 7.25 per cent to senior citizens on FDs up to Rs. 1 crore, according to the lender's website. Previously, Kotak Mahindra Bank paid interest at the rate of 7 per cent to the general public and 7.5 per cent to the senior citizens on FDs of the same amount in the three maturities. 

Given below are the latest interest rates offered by Kotak Mahindra Bank on fixed deposits up to Rs 1 crore:

Fixed deposit interest rates are subject to change from time to time. Fixed deposit accounts with a lock-in period of five or 10 years are eligible for deduction in income tax under Section 80C of the Income Tax Act.