Kotak Mahindra Bank hikes fastened deposit charges. Latest FD rates of interest right here

Kotak Mahindra Bank has hiked the rate of interest on fastened deposits (FD) throughout numerous tenors. After the most recent revision, for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank gives an rate of interest of two.5%, 2.75% and three% respectively. These charges are relevant from 6 January 2022.

The financial institution had final revised FD charges on 30 September 2021.

For time period deposits maturing in 121-179 days and 180 days, the financial institution has hiked the charges by 5 foundation factors (bps). These deposits will fetch rates of interest of three.25% and 4.3% respectively. FDs with tenure 181 and 363 days will give 4.40% and time period deposits maturing in 364 days will now give 10 bps extra i.e, 4.5%.

Deposits maturing in one year to 389 days will now give 4.9%. FDs maturing in 390 days to Less than 23 months will give 5%

For time period deposits maturing in 3 years and above however lower than 5years, the financial institution has hiked charges by 10 bps. These deposits will now give 5.3%. For deposits maturing in 5 years and above as much as and inclusive of 10 years, the financial institution has hiked rate of interest by 5 bps, these deposits will now give 5.3%

Kotak Mahindra Bank newest FD charges (under ₹2 crore) for most of the people efficient 6 January 2022

7 – 14 days 2.50%

15 – 30 days 2.50%

31 – 45 days 2.75%

46 – 90 days 2.75%

91 – 120 days 3%

121 – 179 days 3.25%

180 days 4.3%

181 days to 269 days 4.40%

270 days 4.40%

271 days to 363 days 4.40%

364 days 4.5%

one year to 389 days 4.9%

390 days (12 months 25 days) 5%

391 days – Less than 23 months 5%

23 months 5.10%

23 months 1 day- lower than 2 years 5.10%

2 years- lower than 3 years 5.15%

3 years and above however lower than 4 years  5.3%

4 years and above however lower than 5 years 5.3%

5 years and above as much as and inclusive of 10 years 5.3%

Kotak Mahindra Bank newest FD charges (under ₹2 crore) for senior residents

Senior residents proceed to get 50 foundation factors greater rates of interest than most of the people. The financial institution gives rates of interest from 3% to five.8% on FDs maturing in 7 days to 10 years.

Last month, HDFC Bank and Ujjivan Small Finance Bank introduced a hike in FD charges.

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