2 weeks Ago
Kotak Mahindra Bank has reduced the interest rate on savings accounts by 25 basis points (bps) for certain balance slabs. The new rates are effective from April 25, 2025. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.
80% Invest Now Equity: Large Cap 0.12% Axis Nifty 100 Index Fund +38.59% Invest Now Equity: Large Cap 0.
21% Axis Nifty Next 50 Index Fund +71.83% Invest Now Equity: Large Cap 0.25% Axis Nifty 500 Index Fund -- Invest Now Equity: Flexi Cap 0.
10% Axis Nifty Midcap 50 Index Fund +46.03% Invest Now Equity: Mid Cap 0.28% Account holders with balances between ₹5 lakh and ₹50 lakh will now earn 4.
75% per annum, down from 5%. The bank continues to offer differential interest rates based on the account balance. For balances up to ₹50,000, the interest rate remains unchanged at 3.
50% per annum. For balances above ₹50 lakh, the rate continues to be 5.50% per annum.
The bank had also reduced its fixed deposit interest rates earlier this month. Other banks have made similar moves. IDBI Bank and Ujjivan Small Finance Bank have recently cut fixed deposit rates on select tenures while extending deadlines or modifying associated schemes.
IDBI Bank has reduced interest rates on its Utsav Special Fixed Deposit scheme while extending the last date to invest from April 30 to June 30, 2025. The bank has adjusted rates across three special tenures—444 days, 555 days, and 700 days. On the other hand, Ujjivan Small Finance Bank has reduced FD interest rates by up to 20 basis points (bps) on select tenures for deposits below ₹3 crore, effective April 24, 2025.
For FDs between 12 months and less than 18 months, the rate has been revised to 7.90% from 8.10%.
The 18-month FD now fetches 8.05%, down from 8.25%.
Senior citizens continue to receive an additional 0.50% interest on all tenures..
