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Kotak mahindra bank marathi news: Kotak Mahindra Bank has made changes to interest rates (FD) interest rates. The interest rates on the selected FD have been reduced to 3 basis points. These new interest rates have been implemented from today, April 1st.

The bank has made this change after the Reserve Bank of India (RBI) announced the reduction of 5 basis points in the repo rate, which has now increased from 5.5 per cent to 5 percent. The RBI step has been taken to control inflation and boost economic development.

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The bank will pay the interest of 8.5 percent to 5.5 percent to the regular depositors

After improving interest rates, Kotak Mahindra Bank is paying interest rates from 8.5% to 5.5% for regular depositors and 5.5% to 5.5% for senior citizens. However, the interest rate has been deducted on a selected deadline deposit, which shows that banks have now started adjusting the interest rate on fixed deposits at the rate reduced by the Reserve Bank. Now let's learn about new interest rates.

According to the rate of interest on term deposits

The old interest rate on the FD (6 months 6 days) (6 months 3 days) was 8.5 percent, which has been reduced to 8.5 percent.

The old interest rate on FD less than 199 days to 6 months to 6 months was 8.5 percent, which will now be 8.5 percent.

The old interest rate on FD for a period of 6 months was 8.5 percent while the new interest rate will be 5.5 percent.

Other banks will also reduce interest on FD

Although Kotak Mahindra Bank has not cut interest rates on FD much, there have been indications that banks have started changing interest rates on FD after the repo rate is reduced. In the future, other banks may also announce the reduction on interest rates on FD. Also, interest rates on home loan and vehicle loans can be reduced.

Expert advice

Experts say that if you want to do FD in the bank, you have to do this work soon. Banks will reduce interest rates on FDs after the repo rate is deducted. If a customer does the FD before the bank reduces interest rates, it will get the benefit of the current interest rate of the bank.