Kotak Mahindra Bank hikes fixed deposit rates. Check latest FD rates here

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Exciting news! Mint is now on WhatsApp Channels. Subscribe today by clicking the link and stay updated with the latest financial insights! Click here 7 - 14 days 2.75% 15 - 30 days 3% 31 - 45 days 3.25% 46 - 90 days 3.50% 91 - 120 days 4% 121 - 179 days 4.25% 180 days 7% 181 days to 269 days 6% 270 days 6% 271 days to 363 days 6% 364 days 6.50% 365 days to 389 days 7.10% 390 days (12 months 25 days) 7.15% 391 days - Less than 23 months 7.20% 23 months 7.25% 23 months 1 day- less than 2 years 7.25% 2 years- less than 3 years 7.10% 3 years and above but less than 4 years 6.50% 4 years and above but less than 5 years 6.25% 5 years and above up to and inclusive of 10 years 6.20% Senior citizens continue to get 50 basis points higher interest rates than the general public.

The bank offers interest rates from 3.25% to 7.75% on FDs maturing in 7 days to 10 years. Meanwhile, on Saturday, the lender also said the Reserve Bank of India (RBI) has approved Ashok Vaswani, an external candidate, to lead it and succeed its founder Uday Kotak, as the managing director and chief executive officer.

Bank of Baroda, and Unity Bank also increased interest rates on FDs for selected tenors. On the other hand, Yes Bank, and HDFC Bank slashed term deposit interest rates on selected tenure in October 2023.