Kotak Mahindra Bank changes fixed deposit rates.

BANKING AND CREDIT NEWS-March 29, 2021--Kotak Mahindra Bank changes fixed deposit rates

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Global Banking News - 29 March 2021

Kotak Mahindra Bank has revised the interest rate on fixed deposits (FD), effective March 25, 2021, an online report said.

The bank will offer an interest rate of 2.5 percent, 2.75 percent and 3.25 percent for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 179 days, respectively. For term deposits maturing in 180 days to less than a year, the bank will pay 4.40 percent interest. The bank will give 4.50 percent for deposits maturing in one year to 389 days, the report said.

In case of FDs maturing in 390 days to less than 23 months, the bank will offer an interest rate of 4.90 percent. Kotak Mahindra Bank will give a 5.0 percent interest rate for deposits maturing in 23 months to less than three...

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