FD Hike Alert: Kotak Mahindra Bank Hikes FD Rates For This Tenor

Kotak Mahindra Finance Ltd (KMFL), the Group's flagship company in February 2003 received banking license from Reserve Bank of India and emerged the first non-banking finance company in the country to convert into a bank namely Kotak Mahindra Bank Ltd. On April 1, 2015, ING Vysya Bank Ltd. merged with Kotak Mahindra
Bank Ltd.

Kotak Mahindra Bank offers fixed deposit interest rates along with a range of terms to choose from so that customers can accomplish their money saving goals with better flexibility and security.

Now the bank has hiked fixed deposit interest rates, It is worth noting that the bank has raised the FD interest rate for one specific tenor for amount below Rs 2 crore. The new rates have become effective starting from July 26, 2022. The interest rate for fixed deposits with the tenor of 365 days to 389 days has got a raise of 10 basis points to 5.60%. Earlier, customers were fetching an interest rate of 5.5%. The bank has kept interest rate of other FD tenors untouched.

The bank has decided to raise its FD interest rates after several other leading lenders including ICICI Bank, SBI Bank, PNB Bank recently introduced a hike in the fixed deposit interest rates. Many leading private and public lenders have hiked interest rate on fixed deposits after RBI's Monetary Policy Committee (MPC) raised the repo rate by 50 bps to 4.90% in its meeting held on June 8 in an effort to contain the surging inflation.

Check the interest rate of Kotak Mahindra Bank:

	Regular		Senior Citizens*
Maturity Periods - Premature Withdrawal Allowed	Less than Rs.2 Crore#	Annualised Yield	Less than Rs.2 Crore#	Annualised Yield
7 - 14 Days	2.50%	2.50%	3.00%	3.00%
15 - 30 Days	2.50%	2.50%	3.00%	3.00%
31 - 45 Days	3.00%	3.00%	3.50%	3.50%
46 - 90 Days	3.00%	3.00%	3.50%	3.50%
91 - 120 Days	3.50%	3.50%	4.00%	4.00%
121 - 179 days	3.50%	3.50%	4.00%	4.00%
180 Days	4.75%	4.75%	5.25%	5.25%
181 Days to 269 Days	4.75%	4.81%	5.25%	5.32%
270 Days	4.75%	4.81%	5.25%	5.32%
271 Days to 363 Days	4.75%	4.81%	5.25%	5.32%
364 Days	5.25%	5.32%	5.75%	5.83%
365 Days to 389 Days	5.60%	5.72%	6.10%	6.24%
390 Days (12 months 25 days)	5.75%	5.88%	6.25%	6.40%
391 Days - Less than 23 Months	5.75%	5.88%	6.25%	6.40%
23 Months	5.75%	5.88%	6.25%	6.40%
23 months 1 Day- less than 2 years	5.75%	5.88%	6.25%	6.40%
2 years- less than 3 years	5.75%	5.88%	6.25%	6.40%
3 years and above but less than 4 years	5.90%	6.03%	6.40%	6.56%
4 years and above but less than 5 years	5.90%	6.03%	6.40%	6.56%
5 years and above upto and inclusive of 10 years	5.90%	6.03%	6.40%	6.56%

How can you calculate your returns from FD Deposits:
The Kotak FD returns Calculator is an easy way to calculate your returns. It just takes the following inputs from you:

Types Of Interest Payout: You get to choose from 4 options - Cumulative, Quarterly Payout, Monthly Payout, and Short Term FD

Deposit Amount: How much amount you would wish to invest?

Tenure: After how long you would like to receive the matured amount

When you fill in the above mentioned fields, the FD calculator displays to you the maturity amount, interest rate and aggregate interest value instantly! Get hands on with our easy-to-use online FD calculator and calculate your returns.