Kotak Mahindra Bank has recently raised the interest rates on their fixed deposits (FD). As of October 25, 2023, the bank is offering interest rates ranging from 2.75% to 7.25% for general customers on deposits with maturities spanning from seven days to ten years.
The bank has increased interest rates by 10 basis points (bps) for deposits maturing in two to less than three years, resulting in an interest rate of 7.10%. Additionally, they've raised the rates by 5 bps for deposits with tenures of 23 months 1 day to less than 2 years, now offering a rate of 7.25%.
Kotak Bank Revised FD Rates
For specific maturity periods, the bank provides the following interest rates:
Senior citizens, as usual, enjoy a 50 basis point advantage, with interest rates ranging from 3.25% to 7.75% on FDs maturing in 7 days to 10 years.
Starting from today, October 26, these are the fixed deposit interest rates, varying with the deposit amount and maturity period for domestic, NRO, and NRE accounts.
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