Kotak Mahindra Bank Latest FD Rates Effective From Today, Offers Maximum 7.70% To Senior Citizens

Kotak Mahindra Bank, a leading private sector bank, hikes the interest rates on fixed deposits of less than Rs 2 crore. The interest rate hike will come into effect from April 6, 2023, according to Kotak Mahindra Bank's official website.

The Bank offers interest rates on deposits from 2.75% to 7.20% for the general public and 3.25% to 7.70% for senior citizens. The interest rates on FDs are applicable on the maturity period ranging from 7 days to 10 years.

On Fixed Deposits maturing in 390 days (12 months 25 days) to less than 2 years, the bank offers a maximum interest rate of 7.20% to the general public and 7.70% to senior citizens These interest rates on Fixed Deposits come with premature withdrawal facility.

Interest Rates For Domestic/NRO/NRE FD Less Than Rs 2 Crore - Premature Withdrawal Allowed

Maturity Periods	Regular Interest Rates (% p.a.)	Senior Citizen Interest Rates (% p.a.)
7 - 14 Days	2.75%	3.25%
15 - 30 Days	3.00%	3.50%
31 - 45 Days	3.25%	3.75%
46 - 90 Days	3.50%	4.00%
91 - 120 Days	4.00%	4.50%
121 - 179 days	4.25%	4.75%
180 Days	6.50%	7.00%
181 Days to 269 Days	6.00%	6.50%
270 Days	6.00%	6.50%
271 Days to 363 Days	6.00%	6.50%
364 Days	6.25%	6.75%
365 Days to 389 Days	7.00%	7.50%
390 Days (12 months 25 days)	7.20%	7.70%
391 Days - Less than 23 Months	7.20%	7.70%
23 Months	7.20%	7.70%
23 months 1 Day- less than 2 years	7.20%	7.70%
2 years- less than 3 years	7.00%	7.50%
3 years and above but less than 4 years	6.50%	7.00%
4 years and above but less than 5 years	6.25%	6.75%
5 years and above upto and inclusive of 10 years	6.20%	6.70%

Please Note - Senior Citizens' rate is not applicable on NRO/NRE deposits. No interest will be payable for NRE TDs staying less than 1 year. For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.

Source - Kotak.com