Kotak Mahindra Bank has issued an alert for its customers about certain services being unavailable on the 5th and 12th of February.
The bank is conducting maintenance work to enhance its services, which means some services will be temporarily suspended during this time. Customers have been notified through an email.
Service Interruptions on 5th and 12th February
According to the bank’s email, they are updating their systems to improve customer experience. As a result, services linked to Kotak VISA Debit Cards and Spendz Cards will be unavailable for some time.
The affected period will be from 1:00 AM to 5:00 AM on Wednesday, 5th February, and Wednesday, 12th February.
During these hours, customers will not be able to make in-store POS transactions, online payments, or international ATM transactions.
Kotak Mahindra Bank advises customers to complete any important transactions in advance to avoid inconvenience.
What is Kotak Spendz?
Kotak Spendz is a prepaid card designed to help users manage daily and small expenses. It allows users to track their spending, helping them stick to a budget and avoid unnecessary costs.
Updated FD Rates of Kotak Mahindra Bank
Here are the new fixed deposit (FD) rates offered by Kotak Mahindra Bank:
7 to 14 days: General public: 2.75%, Senior citizens: 3.25%
15 to 30 days: General public: 3.00%, Senior citizens: 3.50%
31 to 45 days: General public: 3.25%, Senior citizens: 3.75%
46 to 90 days: General public: 3.50%, Senior citizens: 4.00%
91 to 120 days: General public: 4.00%, Senior citizens: 4.50%
121 to 179 days: General public: 4.25%, Senior citizens: 4.75%
180 days: General public: 7.00%, Senior citizens: 7.50%
181 to 269 days: General public: 6.00%, Senior citizens: 6.50%
270 days: General public: 6.00%, Senior citizens: 6.50%
271 days to 363 days: General public: 6.00%, Senior citizens: 6.50%
364 days: General public: 6.50%, Senior citizens: 7.00%
365 to 389 days: General public: 7.10%, Senior citizens: 7.60%
390 days (12 months 25 days): General public: 7.40%, Senior citizens: 7.90%
391 days to less than 23 months: General public: 7.40%, Senior citizens: 7.90%
23 months: General public: 7.30%, Senior citizens: 7.85%
23 months 1 day to less than 2 years: General public: 7.30%, Senior citizens: 7.85%
2 years to less than 3 years: General public: 7.15%, Senior citizens: 7.60%
3 to 4 years: General public: 7.00%, Senior citizens: 7.60%
4 to 5 years: General public: 7.00%, Senior citizens: 7.60%
5 years to 10 years: General public: 6.20%, Senior citizens: 6.70%
