Kotak Mahindra Bank hikes FD interest rates by 10 basis points
Kotak Mahindra Bank has increased Rate of interest On fixed deposits of less than Rs 2 crore. According to the official website of the bank, the new rates are effective from September 19, 2022.
Kotak Mahindra Bank FD The tenure ranges between 7 days and 10 years and earns an interest rate in the range of 2.5%-6.1% for regular investors, and in the range of 3%-6.6% for senior citizens.
According to the website, “In case of premature closure of this deposit within one month, no interest will be paid, and only the principal amount will be refunded.
On premature withdrawal of RD. Interest shall be paid on premature withdrawal of deposit by deducting a penal fee of 0.5% for the period the deposit has remained with the Bank or at the contracted rate, whichever is lower.
