FD rates: Yes Bank, Kotak Mahindra Bank revise rates, check latest rates

Yes Bank will now pay interest on deposits held for seven to fourteen days at a rate of 3.25 per cent, while the interest on deposits held for fifteen to forty-five days will be 3.70 per cent. Deposits maturing in 46 days to 90 days will get an interest rate of 4.10 per cent.
Fixed deposit.

FD rates: Yes Bank, Kotak Mahindra Bank revise rates, check latest rates

Private lenders Kotak Mahindra Bank and Yes Bank have revised their interest rates on fixed deposits under Rs 2 crores. The new rates will be effective from August 10, 2022 for both the lenders. Kotak Mahindra has increased its FD interest rates by up to 25 basis points across tenures.
Kotak Mahindra Bank FD rates
Now, Kotak Mahindra Bank FDs maturing in 15 days to 30 days will attract an interest rate of 2.65 per cent, while term deposits maturing in 31 days to 90 days will attract 3.25 per cent interest rate. The lender will now offer a 3.75 per cent interest rate on deposits that mature in 91 to 179 days.
For FDs maturing in 180 to 363 days, the interest rate will be 5 per cent, while it will be 5.25 per cent for FDs with a one-year term. For a tenure of 365 days to 389 days, the bank will now offer 5.75 per cent after the latest hike.
Long duration FDs like those maturing between 390 days to 3 years will now fetch an interest rate of 5.85 per cent, while term deposits with maturities between 3 years to 10 years will continue to get 5.90 per cent.
Yes Bank FD rates
The private lender will now pay interest on deposits held for seven to fourteen days at a rate of 3.25 per cent, while the interest on deposits held for fifteen to forty-five days will be 3.70 per cent. Deposits maturing in 46 days to 90 days will get an interest rate of 4.10 per cent.
A 4.75 per cent interest rate will be offered on deposits maturing in 3 months to less than 6 months. For deposits between 9 months and one year, the bank will offer 5.75 per cent interest. Further, the bank will offer a 6.25 per cent interest rate on deposits with maturities of one year to less than 18 months.
The bank has revised the interest rate on term deposits maturing in 18 months to less than 3 years and 3 years to less than 10 years to 6.75 per cent.
Premature withdrawal penalty in Yes Bank
The lender, with effect from August 8, 2022, has hiked the penalty amount on premature FD withdrawals. The following penalties will be levied as of August 8:
- If the duration of the FD (Completed) is less than 181 days, a penalty of 0.50 per cent (up from 0.25 per cent) will be assessed.
- If tenure is 182 days or longer, there will be an increase in the penalty to 0.75 per cent from 0.50 per cent. It should be noted that Yes Bank does not charge an early penalty to its senior citizens.
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