Kotak Mahindra hikes term deposit rate

September 10th, 2008 - 9:56 pm ICT by IANS  

Ahmedabad, Sep 10(IANS) Private sector lender Kotak Mahindra Bank(KMB) has increased the interest rate on its term deposits in the general category to 10.35 percent, a bank statement said Wednesday.”I am confident that that this significant hike in interest rates will hugely benefit our retail customers given the current volatile market situation,” K.V.S. Manian, group head of retail liabilities and branch banking said in the statement.

“This facility reemphasizes our commitment to our customers to maximize return on their savings,” he said.

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