Interest rate of FDs with tenor of 390 days has been increased by ten basis points to 5.75 percent from earlier 5.65 percent. For the 391 Days – less than 23 months FD tenor, the bank has hiked interest rates to 5.75 from 5.65 percent. Interest rates of other FD tenors have been kept unchanged. The interest rates on FDs having a term of 3-10 years will continue to fetch 5.90 percent
Kotak Mahindra FD interest rates
The bank had hiked fixed deposit interest rates in June for select tenors.
Recurring deposit interest rates
The bank offers 4.75 percent to 5.90 percent on recurring deposits for terms ranging from 6 months to 10 years.
The bank offers 4 percent interest rate for savings account deposits over Rs 50 lakh. For deposits under 50 lakh, however, the annual percentage is 3.5 percent. These rates were applicable from June 13, 2022.