Kotak Bank FD Rates
The bank is now giving an interest rate of 2.75% on deposits maturing in the next 7 to 14 days, while Kotak Mahindra Bank is presently offering an interest rate of 3.00% on deposits maturing in the next 15 to 30 days. Deposits that mature in 31 to 45 days now earn 3.25% interest, while those that mature in 46 to 90 days now earn 3.50% interest.
On FDs maturing in the next 91 to 120 days, Kotak Mahindra Bank is now offering an interest rate of 4.00%, and on those maturing in the next 121 to 179 days, the bank is now offering an interest rate of 4.25%. The bank now offers an interest rate of 5.75% on deposits maturing in 180 days to 363 days, while Kotak Mahindra Bank now offers an interest rate of 6.00% on deposits maturing in 364 days.
On deposits maturing in 365 days to 389 days, Kotak Mahindra Bank is now giving an interest rate of 6.75%, and the bank is promising an interest rate of 7% on deposits maturing in 390 days (12 months 25 days) to 23 months. Deposits maturing in 23 months and one day to less than 2 years now earn 6.50% interest, while those maturing in 2 years to less than 3 years now earn 6.40% interest.
The bank now offers an interest rate of 6.30% on FDs maturing in 3 years or more but less than 4 years, while Kotak Mahindra Bank now offers an interest rate of 6.25% on FDs maturing in 4 years or more but less than 5 years. Deposits maturing in five years or more, up to and including ten years, will now earn interest at a rate of 6.20%.
A fixed deposit can be opened by an Indian resident, an NRI, a senior citizen, or a member of a HUF. The depositor must have a minimum deposit of Rs. 5,000 with Kotak Mahindra Bank in order to open a fixed deposit account. With Kotak Mahindra Bank, you may choose between cumulative, monthly, or quarterly pay-out options for the FD interest amount. The bank provides fixed deposit options with terms ranging from 7 days to 10 years.
