Kotak Mahindra Bank Increases Fixed Deposit Interest Rates by Upto 25bps
Mumbai, February, 2023.
Kotak Mahindra Bank Limited (“KMBL”/“Kotak”) today announced an increase in fixed deposit interest rates across select amount and tenor buckets by upto 25bps.
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.
Virat Diwanji, Group President and Head – Consumer Bank, Kotak Mahindra Bank said, “With the RBI increasing key interest rates, we have passed on the benefit to our valuable customers offering them a higher return on their savings.” *