Private sector lender Kotak Mahindra Bank hiked interest rates on its term deposits for various maturities on Monday.
Giving the details on the hike in term deposit rates the K V S Manian, Group Head - Retail Liabilities and Branch banking said, "This hike in interest rates would benefit the retail customers given the current volatile market situation."
He added that from this hike the customers will be able to earn retail term deposit rates of 8.50 per cent pa for term deposits of 271 days to less than one year and 9.25 per cent pa for one year to less than five years.
On the hike in term deposit rates, K V S Manian, Group Head - Retail Liabilities and Branch banking, said, "This hike in interest rates would benefit the retail customers given the current volatile market situation."
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