Interest rate on FD for the third time in seven days !
Private sector bank Kotak Mahindra increased the interest received on FD for the third time in the last 07 days.
Interest rate on FD for the third time in seven days, know the whole story.......
Tell that the bank has increased the interest rate received on FD first on December 10 and then on December 14 and then on December 15.
At present, Kotak Mahindra Bank is giving interest rate of 2.75 percent to its customers on 7 to 14 days, 3.25 percent to senior citizens and 3 percent to common people for 15 to 30 days and 3.50 percent to senior citizens.
Whereas on FD of 12 months 25 days, 7 percent interest rate is being offered to the common people while 7.50 percent interest rate is being offered to senior citizens.
Whereas for FDs between 5 years and 10 years, an interest rate of 6.20 percent is being given for the general public and 6.70 percent for senior citizens.
This is the third time in the last 07 days that Kotak Bank has increased the interest rates on FDs.
What is the new rule of FD?!
For example, if there is an FD with a maturity of 05 years, which has now matured and you are not withdrawing this money, then there will be two situations under the new rule: -
1. If the interest received on FD is less than the interest received from the savings account of that bank, then you will get the interest of FD only.
2 But if the interest received on FD is more than the savings account, then you will get only the interest received after maturity on the savings account.