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Kotak Mahindra Bank Hikes FD Rates Upto On 2 Crore Fd By 10 Basis Points New Rates Applicable From 26 July 2022

Kotak Mahindra Bank FD Rates: To curb rising inflation in...

Kotak Mahindra Bank FD Rates: To curb rising inflation in the country, the Central Reserve Bank of India has increased its repo rate a total of two times. At present the repo rate is 4.90 percent. Since doing this, the process of increasing the interest on FD of banks, ie Fixed Deposit Scheme, continues. Kotak Mahindra Bank has once again decided to increase the interest rates of its FDs below Rs 2 crore. These new rates have been implemented from tomorrow i.e. 26 July 2022.

Explain that the bank has increased 10 basis points on FDs from 365 to 389 days. Earlier this interest rate was 5.50 percent, which has now been increased to 5.60 percent. If you are also planning to get FD in the bank, then we are telling you about the interest rate available by Kotak Mahindra Bank (Kotak Mahindra Bank FD Rates) on different tenures-

Interest accrued on FDs of less than 2 crores-

  • 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 – 4.75%
  • 181-269 days- 4.75%
  • 270 days – 4.75%
  • 271-363 days – 4.75%
  • 364 days-5.25%
  • 365-389 days-5.60%
  • 391 days to 23 months – 5.75%
  • 23 months- 5.75%
  • 23 months 1 day – less than 2 years – 5.75%
  • Less than 2 to 3 years – 5.75%
  • Less than 3 to 4 years – 5.90%
  • Less than 4 to 5 years – 5.90%
  • 5 to 10 years – 5.90%

The bank also changed the interest rates of RD
Let us tell you that apart from the FD of less than Rs 2 crore, the bank has also changed the interest rate available on its recurring deposit scheme. The bank has increased the interest rate on RD for 12 months by 10 basis points. We are telling you about the interest rate available on RD-

  • 6 months-4.75%
  • 9 months-4.75%
  • 12 months-5.60%
  • 15 months-5.65%
  • 18 months-5.65%
  • 21 months-5.65%
  • 24 months-5.75%
  • 27 months-5.75%
  • 30 months-5.75%
  • 33 months-5.75%
  • 3 to 4 years – 5.90%
  • 4 to 5 years – 5.90%
  • 5 to 10 years – 5.90%

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