Fixed Deposit Rate of Kotak Mahindra Bank: The Reserve Bank of India (RBI) in the Monetary Policy Committee (MPC) increased the repo rate by 25 basis points to 6.50 percent. To curb inflation, RBI has been increasing the repo rate since May. After increasing the repo rate of RBI, most of the banks are increasing the interest rates on Fixed Deposit.
Fixed Deposit Rate of Kotak Mahindra Bank: The Reserve Bank of India (RBI) in the Monetary Policy Committee ( MPC ) increased the repo rate by 25 basis points to 6.50 percent. To curb inflation, RBI has been increasing the repo rate since May. After increasing the repo rate of RBI, most of the banks are increasing the interest rates on Fixed Deposit. Kotak Bank had recently increased the FD interest rates on February 10, but yesterday on February 17, the bank has increased the interest on FDs of 390 days i.e. 12 months 25 days. The bank is now getting 7.20 per cent interest for common people and 7.70 per cent interest for senior citizens on this FD.
Now getting this much interest
Kotak Bank is offering FDs ranging from 7 days to 10 years to its customers. It is offering 2.75 per cent to 7.20 per cent interest to general customers. At the same time, the maximum interest of 7.70 per cent is being given to senior citizens. This interest is available on FD of 390 days.
These are the new rates of Kotak Bank
7 days to 14 days – For general public: 2.75 per cent; For Senior Citizen: 3.25 percent
15 days to 30 days – For general public: 3.00 per cent; For Senior Citizen: 3.50 percent
31 days to 45 days – For general public: 3.25 per cent; For Senior Citizen: 3.75 percent
46 days to 90 days – For general public: 3.50 per cent; For Senior Citizen: 4.00 percent
91 days to 120 days – For general public: 4.00 per cent; For Senior Citizen: 4.50 percent
121 days to 179 days – For general public: 4.25 per cent; For Senior Citizen: 4.75 percent
180 days – For general public: 5.50 per cent; For Senior Citizen: 6.00 percent
181 days to 269 days – For the general public: 6 percent; For Senior Citizen: 6.50 percent
270 days – For general public: 6 percent; For Senior Citizen: 6.50 percent
271 days to 363 days – For general public: 6 percent; For Senior Citizen: 6.50 percent
364 days – For general public: 6.25 per cent; For Senior Citizen: 6.75 percent
365 days to 389 days – For general public: 6.90 per cent; For Senior Citizen: 7.40 percent
390 days (12 months 25 days) – For general public: 7.20 per cent; For Senior Citizen: 7.70 percent
391 days to less than 23 months – For the general public: 7 percent; For Senior Citizen: 7.50 percent
23 months – For the general public: 7 percent; For Senior Citizen: 7.50 percent
23 months 1 day to less than 2 years – For general public: 7.10 per cent; For Senior Citizen: 7.60 percent
2 years to less than 3 years – For general public: 6.75 per cent; For Senior Citizen: 7.25 percent
3 years and above but less than 4 years – For general public: 6.50 per cent; For Senior Citizen: 7 percent
4 years and above but less than 5 years – For general public: 6.25 per cent; For Senior Citizen: 6.75 percent
5 years and above and up to and including 10 years – For general public: 6.20 per cent; For Senior Citizen: 6.70 percent.
