Kotak Mahindra Bank increases Fixed Deposit Interest Rates Up to 7%

Kotak Mahindra Bank Limited ("KMBL" / "Kotak") today announced an increase in fixed deposit interest rates across various tenors. The bank will offer interest rate of 7% in the 390 Days (12 months 25 days), 391 Days-Less than 23 Months and the 23 Months tenors. The increase in rates on fixed deposits will come into effect on 15th December, 2022.

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. This is a savers' market! Locking money in fixed deposits will help customers earn higher return on their savings."*

KMBL's Revised Fixed Deposit Interest Rates:

Less than Rs. 2 crores

365 Days - 389 Days - 6.75%
390 Days (12 months 25 days) - 7.00%
391 Days- Less than 23 Months - 7.00%
23 Months - 7.00%

Shares of Kotak Mahindra Bank Limited was last trading in BSE at Rs. 1873.05 as compared to the previous close of Rs. 1868.55. The total number of shares traded during the day was 48711 in over 4556 trades.

The stock hit an intraday high of Rs. 1876.10 and intraday low of 1864.50. The net turnover during the day was Rs. 91159283.00.

*Terms & Conditions apply

Source : Equity Bulls

Keywords

KotakMahindraBank INE237A01028 InterestRate Increase Revision FD