CHANDIGARH/LUDHIANA: 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:

TD rates as on 13th Dec, 22 TD rates as on 14th Dec, 22 TD rates as on 15th Dec, 22
365 Days – 389 Days 6.25% 6.75% 6.75%
390 Days (12 months 25 days) 6.50% 6.75% 7.00%
391Days- Less than 23 Months 6.50% 6.75% 7.00%
23 Months 6.50% 6.75% 7.00%

Senior citizen Interest rates:
TD rates as on 13th Dec, 22 TD rates as on 14th Dec, 22 TD rates as on 15th Dec, 22
365 Days – 389 Days 6.75% 7.25% 7.25%
390 Days (12 months 25 days) 7.00% 7.25% 7.50%
391Days- Less than 23 Months 7.00% 7.25% 7.50%
23 Months 7.00% 7.25% 7.50%