The private sector bank has
revised interest rates on its rupee term deposits of less than Rs. 1 Cr for
select maturity buckets by up to 25 bps, with effect from February 6, the bank
said in a statement. The bank now offers 9.25% interest (9% earlier) for the
390-day deposit and 9% (8.75%) for deposits in the 181-269 day tenor. Kotak Bank
is the first lender to hike its deposit rates after the central bank increased
the repo rate by 25 bps to 8% in its third quarter Monetary Policy Review.
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