Kotak Mahindra Bank is among the latest to join the bandwagon of revising fixed deposit interest rates after RBI’s 35 basis points hike in policy repo rate to 6.25%. The leading private banker now offers a maximum 6.50% rate to the general category, while senior citizens are in for a treat as they will get to earn interest rates on their FD accounts to as high as 7%. The interest rates for elderlies are inflation-beating currently. Notably, the rates are revised on both FDs below ₹2 crore and bulk deposits with effect from December 9.
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