Kotak Mahindra Bank FD Rates
The bank will offer interest rate of 7% in the 390 Days (12 months 25 days), 391 Days-less than 23 months and the 23 months tenors.
On FDs maturing 365 days to 389 days the new interest rate will be at 6.75 per cent. Kotak Mahindra Bank increased the interest rate on fixed deposits maturing in 390 days (12 months 25 days) to less than 23 months to 7 per cent.
Similarly for 23 months the revised interest rate is at 7 per cent.
In order to start a fixed deposit account, the depositor must have a minimum deposit of Rs. 5,000. Kotak Mahindra Bank offers fixed deposit alternatives with terms ranging from 7 days to 10 years. You may pick from cumulative, monthly, or quarterly pay-out alternatives for the FD interest amount with Kotak Mahindra Bank. Additionally, the bank permits customers to partially or prematurely withdraw fixed deposits. An Indian national or an NRI, a senior citizen or a member of HUF; can invest in a fixed deposit with Kotak Mahindra Bank.
"With the RBI increasing key interest rates, we have passed on the benefit to our valuable customers. This is a savers' market! Locking money in fixed deposits will help customers earn higher return on their savings," said Virat Diwanji, Group President and Head – Consumer Bank, Kotak Mahindra Bank.
The company's scrip ended 0.24 per cent up at ₹1,873.05 on BSE.
