1 week Ago
Kotak Mahindra Bank has revised its fixed deposit (FD) interest rates, reducing them by up to 15 basis points (bps) across select tenures. The revised rates are effective from April 9, 2025. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.
80% Invest Now Equity: Large Cap 0.12% Axis Nifty 100 Index Fund +38.59% Invest Now Equity: Large Cap 0.
21% Axis Nifty Next 50 Index Fund +71.83% Invest Now Equity: Large Cap 0.25% Axis Nifty 500 Index Fund -- Invest Now Equity: Flexi Cap 0.
10% Axis Nifty Midcap 50 Index Fund +46.03% Invest Now Equity: Mid Cap 0.28% The move coincides with the Reserve Bank of India's decision earlier today to cut the repo rate by 25 bps, bringing the benchmark rate to 6%.
The RBI’s rate action is aimed at supporting economic growth amid easing inflation, and banks often adjust deposit and lending rates accordingly. Key revisions in FD rates Following the revision, Kotak Mahindra Bank now offers interest rates ranging from 2.75% to 7.
30% for regular depositors and from 3.25% to 7.80% for senior citizens.
FD tenure-wise rate cuts: FD Tenure Previous Rate Revised Rate Change 390 Days (12 months 25 days) 7.40% 7.25% -15 bps 391 Days to less than 23 Months 7.
40% 7.30% -10 bps 23 Months 7.30% 7.
25% -5 bps Revised FD interest rates (below ₹3 crore) Tenure Regular Senior Citizen 7 - 14 Days 2.75% 3.25% 180 Days 7.
00% 7.50% 390 Days 7.25% 7.
75% 391 Days - Less than 23 Months 7.30% 7.80% 23 Months 7.
25% 7.75% 2 Years - Less than 3 Years 7.15% 7.
65% 5 Years - Up to 10 Years 6.20% 6.70% The rate cuts, although limited to a few specific tenures, indicate that banks are beginning to align deposit rates with the softer interest rate outlook signaled by the RBI.
Experts believe that further adjustments could follow if the RBI maintains an accommodative stance in upcoming policy meetings..
