Kotak Mahindra Bank has recently revised the interest rates on fixed deposits (FD) of less than Rs 2 crore across various tenors. The revised rates are applicable from January 6, 2022.
After the recent revision, for fixed deposits (FDs) maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days, Kotak Mahindra Bank is offering an interest rate of 2.5 percent, 2.75 percent and 3 percent respectively.
Here are the latest interest rates offered by Kotak Mahindra Bank on fixed deposits (FDs) of up to Rs 2 crore:
| Regular | Senior Citizen* | |
| 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 | 2.75% | 2.75% | 3.25% | 3.25% |
| 46 - 90 Days | 2.75% | 2.75% | 3.25% | 3.25% |
| 91 - 120 Days | 3.00% | 3.00% | 3.50% | 3.50% |
| 121 - 179 days | 3.25% | 3.25% | 3.75% | 3.75% |
| 180 Days | 4.30% | 4.30% | 4.80% | 4.80% |
| 181 Days to 269 Days | 4.40% | 4.45% | 4.90% | 4.96% |
| 270 Days | 4.40% | 4.45% | 4.90% | 4.96% |
| 271 Days to 363 Days | 4.40% | 4.45% | 4.90% | 4.96% |
| 364 Days | 4.50% | 4.55% | 5.00% | 5.06% |
| 365 Days to 389 Days | 4.90% | 4.99% | 5.40% | 5.51% |
| 390 Days (12 months 25 days) | 5.00% | 5.09% | 5.50% | 5.61% |
| 391 Days - Less than 23 Months | 5.00% | 5.09% | 5.50% | 5.61% |
| 23 Months | 5.10% | 5.20% | 5.60% | 5.72% |
| 23 months 1 Day- less than 2 years | 5.10% | 5.20% | 5.60% | 5.72% |
| 2 years- less than 3 years | 5.15% | 5.25% | 5.65% | 5.77% |
| 3 years and above but less than 4 years | 5.30% | 5.41% | 5.80% | 5.93% |
| 4 years and above but less than 5 years | 5.30% | 5.41% | 5.80% | 5.93% |
| 5 years and above up to and inclusive of 10 years | 5.30% | 5.41% | 5.80% | 5.93% |
The key thing to note here is that interest rates offered on FDs are subject to change from time to time.
Fixed deposit (FD) is a fixed income instrument that provides guaranteed returns over a pre-defined period of lock-in. According to experts, it is one of the best options for people looking for an assured income as they are risk-free.
(Edited by : Anshul)
First Published: Jan 13, 2022 5:40 PM IST
