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Kotak Mahindra Bank: Kotak Mahindra Bank increases FD interest rates by up to 25 bps: Senior citizens can earn 7.6% on this tenure
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Kotak Mahindra Bank FD rates
The bank is offering 7.10% for deposits up to Rs. 2 crore in the 12months 25days to 2 years tenor bucket. Additionally, a rate of 7.60% is now available to senior citizens for deposits up to Rs. 2 crore in the same tenor.
According to the Kotak Mahindra Bank press release, “In the 15months to 2 years tenor bucket the Bank now offers 7.25% for deposit amounts Rs.2crs to 5crs and 7.10% for deposit amounts upto Rs.2 crs in the 12months 25days to 2 years tenor bucket. Additionally, Senior Citizens are now offered a rate of 7.60% for deposit amounts of upto Rs.2 crs in the same tenor. The revised rates will be effective 10th Feb, 2023.”
Also read: Latest Bank Fixed Deposit (FD) Interest Rates in India for 2023
| Tenor Buckets | Regular | Senior Citizens |
| 180days to 363 days | 6% | 6.50% |
| 364 days | 6.25% | 6.75% |
| 365days to 389days | 6.90% | 7.40% |
| 12months 25days to | 7.10% | 7.60% |
Source: Bank press release
Fixed Deposit interest rates full list
| Regular | Senior Citizen* | |
| Maturity Periods | Less than Rs.2 Crore# | Less than Rs.2 Crore# |
| 7 – 14 Days | 2.75% | 3.25% |
| 15 – 30 Days | 3.00% | 3.50% |
| 31 – 45 Days | 3.25% | 3.75% |
| 46 – 90 Days | 3.50% | 4.00% |
| 91 – 120 Days | 4.00% | 4.50% |
| 121 – 179 days | 4.25% | 4.75% |
| 180 Days | 6.00% | 6.50% |
| 181 Days to 269 Days | 6.00% | 6.50% |
| 270 Days | 6.00% | 6.50% |
| 271 Days to 363 Days | 6.00% | 6.50% |
| 364 Days | 6.25% | 6.75% |
| 365 Days to 389 Days | 6.90% | 7.40% |
| 390 Days (12 months 25 days) | 7.10% | 7.60% |
| 391 Days – Less than 23 Months | 7.10% | 7.60% |
| 23 Months | 7.10% | 7.60% |
| 23 months 1 Day- less than 2 years | 7.10% | 7.60% |
| 2 years- less than 3 years | 6.75% | 7.25% |
| 3 years and above but less than 4 years | 6.50% | 7.00% |
| 4 years and above but less than 5 years | 6.25% | 6.75% |
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.70% |
Source: Bank website