Kotak Mahindra Bank has raised interest rates on fixed deposits for chosen tenors. These amended interest rates will become effective from July 1, 2022.
Interest rates of FDs with tenor of 390 days has been expanded by ten premise focuses to 5.75 percent from prior 5.65 percent. For the 391 Days – under 23 months FD tenor, the bank has climbed interest rates to 5.75 from 5.65 percent. Loan fees of other FD tenors have been kept unaltered. The interest rates on FDs having a term of 3-10 years will keep on bringing 5.90 percent.
Kotak Mahindra FD interest rates
The bank had hiked fixed deposit interest rates in June for select tenors.
Recurring deposit interest rates
The bank offers 4.75 percent to 5.90 percent based on recurring deposits for conditions going from a half year to 10 years.
Savings account
The bank offers 4% interest rate for savings account deposits over Rs 50 lakh. For deposits under 50 lakh, notwithstanding, the yearly rate is 3.5 percent. These rates were effetive from June 13, 2022.
