Know newest FD rates of interest of Kotak Mahindra Bank.
Kotak Mahindra FD Interest Rates: For tenures starting from 23 months to 2 years, senior residents can earn as much as 7.80 per cent
Kotak Mahindra Bank on Monday introduced a rise in rates of interest on mounted deposits (FDs) beneath Rs 2 crore as much as 7.80 per cent, for senior residents. The FD charges have been elevated by as much as 85 foundation factors (bps) throughout varied tenures.
For tenures starting from 23 months to 2 years, senior residents can earn as much as 7.80 per cent. The upward revision extends to tenures of two to three years, providing 7.65 per cent, the personal sector lender stated.
Regular prospects investing lower than Rs 2 crore additionally profit as a result of 50 bps improve for FDs with tenures of three to 4 years, now offering a powerful 7 per cent. Additionally, tenures of 4-5 years see a outstanding hike to 7 per cent, up from the sooner 6.25 per cent.
Virat Diwanji, group president and head (client financial institution) at Kotak Mahindra Bank, stated, “Fixed deposits are considered safe and low-risk investments, particularly by senior citizens. Our increased FD rates enhance their regular source of income.”
Kotak Mahindra Bank’s Revised FD Interest Rates:
23 Months: For General Public – 7.25 per cent; For Senior Citizens – 7.80 per cent
23 months 1 day to lower than 2 years: For General Public – 7.25 per cent; For Senior Citizens – 7.80 per cent
2 years and above to lower than 3 years: For General Public – 7.10 per cent; For Senior Citizens – 7.65 per cent
3 years and above to lower than 4 years: For General Public – 7.00 per cent; For Senior Citizens – 7.60 per cent
4 years and above to lower than 5 years: For General Public – 7.00 per cent; For Senior Citizens – 7.60 per cent.
