Kotak Mahindra Bank has revised interest rate on fixed deposits (FD) on select maturities effective 22 nd October. Now, with the latest revision, Kotak Mahindra Bank FD interest rates range from 2.50% to 5% on maturities with different tenures.For FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 179 days, Kotak Mahindra Bank offers interest rate 2.5%, 3% and 3.5% respectively. For term deposits maturing in 180 days to less than a year, Kotak Mahindra Bank pays 4.50% interest. For deposits maturing in one year to 389 days, the bank gives 4.60%. For FDs maturing in 391 days to less than 23 months, the bank gives 4.90%.

For deposits maturing in 23 months to less than 2 years, Kotak Mahindra Bank will give 5% interest rate.

For term deposits maturing in 2 years to less than 4 years, the bank gives 4.90%. For deposits maturing in 4 years and above but less than 5 years, Kotak Mahindra Bank gives 4.75% interest rate.

For FDs maturing in 5 years and above upto and inclusive of 10 years, the bank gives 4.50%.

Kotak Mahindra Bank latest FD rates (below 2 crore) for general public

7 – 14 days 2.50%

15 – 30 days 2.50%

31 – 45 days 3.00%

46 – 90 days 3.00%

91 – 120 days 3.50%

121 – 179 days 3.50%

180 days 4.50%

181 days to 269 days 4.50%

270 days 4.50%

271 days to 363 days 4.50%

364 days 4.50%

365 days to 389 days 4.60%

390 days (12 months 25 days) 4.90%

391 days – Less than 23 months 4.90%

23 months 5%

23 months 1 day- less than 2 years 5%

2 years- less than 3 years 4.9%

3 years and above but less than 4 years 4.90%

4 years and above but less than 5 years 4.75%

5 years and above upto and inclusive of 10 years 4.50%

Kotak Mahindra Bank latest FD rates (below 2 crore) for senior citizens

Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3% to 5.5% on FDs maturing in 7 days to 10 years.

Other lenders like HDFC Bank, ICICI Bank, Punjab National Bank, Canara Bank, and Bank of Baroda too revised interest rates on their term deposits in this month.

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