Kotak Mahindra Bank Revises Fixed Deposit Rates; Check New Kotak Mahindra FD Interest Rates Here

Other lenders including HDFC Bank, ICICI Bank, Punjab National Bank, Canara Bank, and Bank of Baroda also revised interest rates on select term deposits in October.

After HDFC Bank has revised its fixed deposit rates, it’s time for Kotak Mahindra Bank, too, which has revised interest rate on fixed deposits (FD) on select maturities from 22nd October. Now, customers opting for FD will witness a change in interest rates range from 2.50% to 5% on maturities with different tenures. In case of FDs from 7 to 30 days, 31 to 90 days and 91 to 179 days, it will fetch you interest rate of 2.5%, 3% and 3.5% respectively. For term deposits maturing in 180 days to less than a year, you will get 4.50% interest. For deposits maturing in one year to 389 days, the bank gives 4.60%. For FDs maturing in 391 days to less than 23 months, the bank gives 4.90%. Those deposits maturing in 23 months to less than two years, Kotak Mahindra Bank will offer 5% interest rate. For term deposits maturing in 2 years to less than 4 years, the bank gives 4.90%. For deposits maturing in 4 years and above but less than 5 years, Kotak Mahindra Bank gives 4.75% interest rate. For FDs maturing in five years and above up to and inclusive of 10 years, the bank is offering 4.50%. Kotak Mahindra Bank FD rates (below ₹2 crore) for general public (effective October 22) 7 - 14 days 2.50% 15 - 30 days 2.50% 31 - 45 days 3.00% 46 - 90 days 3.00% 91 - 120 days 3.50% 121 - 179 days 3.50% 180 days 4.50% 181 days to 269 days 4.50% 270 days 4.50% 271 days to 363 days 4.50% 364 days 4.50% 365 days to 389 days 4.60% 390 days (12 months 25 days) 4.90% 391 days - Less than 23 months 4.90% 23 months 5% 23 months 1 day- less than 2 years 5% 2 years- less than 3 years 4.9% 3 years and above but less than 4 years 4.90% 4 years and above but less than 5 years 4.75% 5 years and above upto and inclusive of 10 years 4.50% Kotak Mahindra Bank latest FD rates (below ₹2 crore) for senior citizens Meanwhile senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3% to 5.5% on FDs maturing in 7 days to 10 years. Other lenders like HDFC Bank, ICICI Bank, Punjab National Bank, Canara Bank, and Bank of Baroda too revised interest rates on their term deposits this month.