This private bank has increased the interest rates of FD, will earn tremendously

TV9 Bharatvarsh | Edited By: Saurabh Sharma

Updated on: Jan 24, 2023 | 8:16 PM

The new interest rates will be applicable on both new and existing FDs. Kotak Mahindra Bank customers can open an FD account with a minimum lump sum deposit of Rs.5000.

This private bank has increased the interest rates of FD, will earn tremendously

Fixed Deposit

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Kotak Mahindra Bank increased the interest rates of fixed deposits (Fixed Deposit Interest Rate Hike) have make. The new rates have become effective from today i.e. 24 January 2023. The new interest rates will be applicable on both new and existing FDs. Kotak Mahindra Bank customers can open an FD account with a minimum lump sum deposit of Rs.5000. Let us also tell you how much Kotak Mahindra Bank has increased the interest rates on FDs.

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Kotak Bank FD Rates

  1. The bank is giving an interest rate of 2.75 per cent on FDs of 7 to 14 days.
  2. Kotak Mahindra Bank is paying 3% interest on FDs of 15 to 30 days.
  3. Kotak Mahindra Bank now offers an interest rate of 3.25 per cent on deposits of 31 to 45 days duration.
  4. Kotak Mahindra Bank is paying 3.50 percent interest on FDs of 46 to 90 days.
  5. The bank will give 4 percent interest on FDs of 91 to 120 days.
  6. The bank will pay 4.25 percent interest on FDs of 121 to 179 days.
  7. Kotak Mahindra Bank is offering interest rates of 5.75 per cent and 6.00 per cent respectively on FDs of 180 days to 363 days and 364 days.
  8. Kotak Mahindra Bank is offering an interest rate of 6.75 per cent and 7 per cent, respectively, on deposits of 365 days to 389 days to 390 days (12 months 25 days) to 23 months 1 day – less than 2 years.
  9. Deposits maturing in two to three years will get interest at the rate of 6.75%.
  10. FDs of three years or more but less than four years will get interest at the rate of 6.50%.
  11. Kotak Bank will offer an interest rate of 6.25 per cent and 6.20 per cent respectively on FDs of 4 years or more but less than 5 years and 5 years or more but not including 10 years.

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