Kotak Mahindra, DCB Bank hike fixed deposit rates. Check latest FD rates here

livemint.com:

Kotak Mahindra Bank and DCB Bank have hiked interest rates on fixed deposits (FDs),  under ₹2 crore. The increase comes at a time when most of the banks are cutting interest rates. 

The bank has increased interest rates on tenors ranging from three to five years. The last time Kotak Mahindra Bank changed interest rates was October 25, 2023. After the latest revision, Kotak Bank is offering an interest rate of 2.75% to 7.25% for general customers on deposits maturing in seven days to ten years, and 3.35% to 7.80% for senior citizens on these deposits. The bank is offering the highest FD interest rate on deposits maturing in 23 months 1 Day- less than 2 years.

7 — 14 Days 2.75%

15 — 30 Days 3.00%

31 — 45 Days 3.25%

46 — 90 Days 3.50%

91 — 120 Days 4.00%

121 — 179 days 4.25%

180 Days 7.00%

181 Days to 269 Days 6.00%

270 Days 6.00%

271 Days to 363 Days 6.00%

364 Days 6.50%

365 Days to 389 Days 7.10%

390 Days (12 months 24 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 7.00%

4 years and above but less than 5 years 7.00%

5 years and above up to and inclusive of 10 years 6.20%

DCB Bank has hiked fixed deposit interest rates on select tenors for deposits below ₹2 crore. The new rates are effective from 13 December as per the DCB Bank website.

The bank is offering the highest FD interest rate of 8% to general customers and 8.60% for senior citizens, after the revision.

After the latest hike, DCB Bank is offering an interest rate ranging from 3.75% to 8% on FDs maturing in seven days to ten years to general customers, and 4.25% to 8.60% to elderly people.

7 days to 45 days 3.75%

46 days to 90 days