Indians are said to be natural savers! Even the world is transforming into fast-moving consumer trend, still there are certain section of people who prefer to do F.D’s(Fixed Deposits)!
As we all know that government banks have slashed their F.D rates with large margin, private bank fixed deposits have became a good alternative to the general public. Though their deposits carries little-bit risk, they are under the safeguard of RBI to protect the interests of the depositors.
We all know that private banks offers higher interest rates than the public sector banks, now it’s time to shift to private bank fixed deposits as they offer premium services without any inconvenience and delay in their services.
Recently on March9th,2022 Kotak Mahindra Bank revises interest rates to attract the depositors. The recent hike will come into immediate effect and are applicable on all deposits including NRE(Non Resident External)and NRO(Non Resident Ordinary Deposits).
Kotak Mahindra Bank Revised Fixed Deposit Interest Rates(with effect from March9th,2022)–
|Term Deposit Period||Rate of Interest Applicable|
|7 Days to 30 Days||2.5%|
|31 Days to 90 Days||2.75%|
|91 Days to 120 Days||3%|
|Above 6 Months to 363 Days||4.4%|
|Up to 364 Days||4.5%|
|1 Year to 2 Years||5.1%|
|2 Years to 3 Years||5.30%|
|3 Years to 5 Years||5.45%|
|Above 5 Years to 10 Years||5.50%|
So if you are interested to do fixed deposit, rush to your nearest kotak mahindra bank branch and avail the offer!