The bank will give 5.10 percent for term deposits maturing in 3 years and above but less than 4 years. Kotak Mahindra Bank gives a 5.25 percent interest rate for deposits maturing in 4 years and above but less than 5 years. The bank gives 5.30 percent for FDs maturing in 5 years and above up to and inclusive of 10 years. These rates are applicable from March 25, 2021.
Kotak Mahindra Bank | The board of directors approved the dividend on 100 crore Nos. 8.10 percent non-convertible perpetual non-cumulative preference shares of face value of Rs 5 each for FY21. The record date for the purpose of payment of this dividend would be March 19, 2021.
The bank will give 4.90 percent for FDs maturing in 390 days to less than 23 months. Kotak Mahindra Bank will give a 5 percent interest rate for deposits maturing in 23 months to less than 3 years. The bank will give 5.10 percent for term deposits maturing in 3 years and above but less than 4 years. Kotak Mahindra Bank gives a 5.25 percent interest rate for deposits maturing in 4 years and above but less than 5 years. The bank gives 5.30 percent for FDs maturing in 5 years and above up to and inclusive of 10 years. These rates are applicable from March 25, 2021.
Senior citizens continue to get 50 basis points higher interest rates than the general public. The bank offers interest rates from 3 percent to 5.8 percent on FDs maturing in 7 days to 10 years.
Here are the latest interest rates on fixed deposit by Kotak Mahindra Bank
| MATURING PERIOD | INTEREST RATES |
| 7 – 30 days | 2.50% |
| 31 – 90 days | 2.75% |
| 91 – 179 days | 3.25% |
| 180 – 364 days | 4.40% |
| 365 -389 days | 4.50% |
| 390 – Less than 23 months | 4.90% |
| 23 months – less than 3 years | 5% |
| 3 years and above but less than 4 years | 5.10% |
| 4 years and above but less than 5 years | 5.25% |
| 5 years and above up to and inclusive of 10 years | 5.30% |
