Kotak Mahindra Bank Increases Interest Rates On Fixed Deposits, Here Are New Interest Rates

An increase in interest rates on fixed deposits has been frequent in most private and public sector banks because of the hike in interest rates by the central bank. Kotak Mahindra Bank is the third largest private sector bank by market capitalization and asset management, and just recently, the bank increased the interest rates on its fixed deposits.

As with most banks, the tenure of Fixed Deposit on Kotak Mahindra Bank ranges from 7 days to 10 years or more. The interest rate change has increased 10 basis points on Fixed Deposits.

Here is the list of new interest rates on fixed deposits of less than 2 crores.

Tenors	Interest rates (in %)	Annualized Yield (in %)
7 Days to 14 Days -	2.50
15 Days to 30 Days	2.65	2.65
31 Days to 90 Days	3.25	3.25
91 Days to 179 Days	3.75	3.75
180 Days	5	5.06
181 Days to 269 Days	5	5.06
270 Days	5	5.06
271 Days to 363 Days	5.00	5.06
364 Days	5.25	5.32
365 Days to 389 Days	5.75	5.88
390 Days	6	6.14
391 Days to less than 23 months	6	6.14
23 Months -10 years	6.10	6.24