Report Wire - Kotak Mahindra Bank hikes fastened deposit charges. Latest FD rates of interest right here

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Kotak Mahindra Bank hikes fastened deposit charges. Latest FD rates of interest right here

2 min read
Kotak Mahindra Bank latest FD interest rates are applicable from 6 January 2022.

Kotak Mahindra Bank has hiked the rate of interest on fastened deposits (FD) throughout numerous tenors. After the most recent revision, for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank gives an rate of interest of two.5%, 2.75% and three% respectively. These charges are relevant from 6 January 2022.

The financial institution had final revised FD charges on 30 September 2021.

For time period deposits maturing in 121-179 days and 180 days, the financial institution has hiked the charges by 5 foundation factors (bps). These deposits will fetch rates of interest of three.25% and 4.3% respectively. FDs with tenure 181 and 363 days will give 4.40% and time period deposits maturing in 364 days will now give 10 bps extra i.e, 4.5%.

Deposits maturing in one year to 389 days will now give 4.9%. FDs maturing in 390 days to Less than 23 months will give 5%

For time period deposits maturing in 3 years and above however lower than 5years, the financial institution has hiked charges by 10 bps. These deposits will now give 5.3%. For deposits maturing in 5 years and above as much as and inclusive of 10 years, the financial institution has hiked rate of interest by 5 bps, these deposits will now give 5.3%

Kotak Mahindra Bank newest FD charges (under ₹2 crore) for most of the people efficient 6 January 2022

7 – 14 days 2.50%

15 – 30 days 2.50%

31 – 45 days 2.75%

46 – 90 days 2.75%

91 – 120 days 3%

121 – 179 days 3.25%

180 days 4.3%

181 days to 269 days 4.40%

270 days 4.40%

271 days to 363 days 4.40%

364 days 4.5%

one year to 389 days 4.9%

390 days (12 months 25 days) 5%

391 days – Less than 23 months 5%

23 months 5.10%

23 months 1 day- lower than 2 years 5.10%

2 years- lower than 3 years 5.15%

3 years and above however lower than 4 years  5.3%

4 years and above however lower than 5 years 5.3%

5 years and above as much as and inclusive of 10 years 5.3%

Kotak Mahindra Bank newest FD charges (under ₹2 crore) for senior residents

Senior residents proceed to get 50 foundation factors greater rates of interest than most of the people. The financial institution gives rates of interest from 3% to five.8% on FDs maturing in 7 days to 10 years.

Last month, HDFC Bank and Ujjivan Small Finance Bank introduced a hike in FD charges.

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