Kotak Bank hikes deposit rate to 10.6%

Kotak Mahindra Bank has announced an upward revision of interest rates on its term deposit in the general category.

Customers will now be able to earn a retail term deposit rate of 10.60 per cent per annum (annualized yield – 11.02 per cent) for the 390 day period. The FCNR and NRE interest rates have also been increased.