KOTAK MAHINDRA BANK UPS DEPOSIT RATES BY UP TO 0.50 PC

Kotak Mahindra Bank has upped interest rates on its term deposits by up to 0.50 per cent with effect from December 9.

Deposits with a maturity of one-year and above up to and inclusive of 699-days will now carry a rate of 8 per cent as against the earlier 7.50 per cent.

For 701-days and above but less two-years, the new rate is 8 per cent as against the earlier 7.50 per cent.

For two years and above but less than three years and three years and above but less than five years, the rate has been increased to 8.25 per cent from the earlier 8.10 per cent.

For five years and above up to and inclusive of 10 years, the new rate is 8.25 per cent as against the earlier 8.10 per cent.

Senior citizens enjoy an additional 0.50 per cent across maturities.

SOURCE: http://economictimes.indiatimes.com/news/news-by-industry/banking/finance/banking/Kotak-Mahindra-Bank-ups-deposit-rates-by-up-to-050-pc/articleshow/7076852.cms