Kotak Mahindra Bank has hiked the fixed deposit interest rates of various tenures for amounts less than 2 crore. The bank has updated the new rates on its official website which are effective from April 12, 2022.
For tenures between 121 days and 179 days for 364 days, Kotak Mahindra Bank has hiked the interest rate by 25 basis points. The interest earned on these fixed deposits will be 4.50 percent and 4.75 percent interest respectively. For tenures 180 days, 181 days to 269, 270 days, 271 days to 263, FD rates have been hiked by 10 basis points and will now earn interest of 4.50 percent from 4.40 percent. Tenures between 365 days and 389 days will fetch FB rates of 5.10 percent. The fixed deposits with 390 days to less than 23 months will earn 5.20 percent.
The interest rates of FD with tenure of 23 months and 23 months 1 day- less than 2 years have been hiked by 15 basis points. These fixed deposits will now earn 5.25 percent.
