After a change in the repo rate by Reserve Bank of India, now the interest rates of fixed deposits are being changed by banks. Recently, many banks including SBI, HDFC Bank, ICICI Bank, Yes Bank have changed the interest rates of fixed deposits.
Kotak Mahindra Bank changed the interest rates of fix deposits
Let us tell you that according to the official website of the bank, Kotak Mahindra Bank has changed the interest rates of fixed deposits. The bank has announced a cut of 30 Basis Points (BPS) on select tenure.
How long will it be implemented on new interest?
According to the official website, the new interest rate will be implemented from 23 April 2025. The bank has announced a 30 -basis point cut in interest rates from 365 days to 389 days. Customers will get 6.80% interest rate on this tenure. Customers are getting 7.00% interest rate on 390-day tenure and customers are getting 7.15% interest rates at tenure from 391 days to 23 months.
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