Kotak Mahindra Bank hikes interest rates on fixed deposits of less than ₹2 Cr

New Interest rates on fixed deposits below ₹2 Cr have been hiked by the private sector lender Kotak Mahindra Bank. 

The bank increased interest on fixed deposits with terms ranging from 1 year to 10 years as a result of the revision. 

The bank will continue to offer interest rates of 2.65% for fixed deposits maturing in 15 to 30 days 

Kotak Mahindra Bank will continue to pay an interest rate of 5.00% on fixed deposits maturing in 180 days to 363 days 

Fixed deposits that mature in 365 days to 389 days will continue to earn interest at a rate of 5.75%. 

Fixed deposits with maturities between 23 months and less than two years at an interest rate of 6.10% 

The depositor needs to open a fixed deposit account with at least a minimum amount for Fixed Deposit, which is Rs. 5,000 for Kotak Mahindra Bank 

Senior Citizen Get Extra 0.50% points while on Fixed Deposit