How to find the best rates for Kotak Mahindra Bank Fixed Deposit
Kotak Mahindra is one of the leading private banks of the country. The bank was established in the year 1985 and since then has progressed one of the favourite banks of customers.
Kotak Mahindra Bank recently took over ING Vysya with merger formalities completed in April 2015 after receiving RBI approval. Under the merged entity, ING Vysya Bank will function under the Kotak brand. Post the takeover, ING Vysya Bank will hold 6.5% in the newly merged entity.
Kotak Mahindra Bank provides a host of banking services to its customers and has expertise in private banking, corporate banking, investment banking as well as asset management. The bank also indulges in a lot of social activities and aims to be the most trusted financial service provider of the country.
Kotak Mahindra Short-Term Fixed Deposit Rates
Kotak Mahindra has very short-term fixed deposits also that have a period of 7-14 days and fetch an interest rate of 4% per annum which is 0.5% less than the rate earned by deposits ranging from 15-30 days. Deposits with a period of 31-45 days are rewarded at a rate of 6% while the rate earned by deposits of 46-90 days is considerably higher at 7.5% per annum. An extremely attractive rate of 8.25% is offered for deposits that have a tenure of 91-179 days. Fixed deposits with a deposit period of exactly 180 days earn the same competitive interest rate of 8.25% per year. A 0.5% higher rate is offered on term deposits of 181-269 days and is 8.5% per annum. The rate of interest remains the same at 8.5% for deposits with tenures of 270 days as well as for deposits with deposit period between 271-363 days. The highest interest rate of 8.75% is fetched by fixed deposits with a tenure of 364 days.
Kotak Mahindra Mid-Term Fixed Deposit Rates
The rate of interest remains the same at 8.75% for deposits that have a deposit period between 365 days to 700 days. Deposits ranging between 701 days to less than 4 years fetch a slightly lower rate of 8.50% per annum as compared to the deposits with a tenure of less than 700 days.
Kotak Mahindra Long-Term Fixed Deposit Rates
Kotak Mahindra fixed deposits that have a deposit period of 4 years and above but less than 5 years are pegged at 8.25%.
Kotak Mahindra Fixed Deposit Rates for Senior Citizens
Senior citizen customers of Kotak Mahindra have a great opportunity of investing in fixed deposits which can earn them great rates of interest. These deposits are pegged at 0.50% more, over and above the regular rates offered on each of the fixed deposit schemes.
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