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.