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Kotak Mahindra Bank Limited is a private Indian banking and financial services company that provides banking financial services to corporate and retail customers in the areas of personal finance, investment banking, life insurance and wealth management.
Kotak Mahindra Bank Fixed Deposits (FD) or Term Deposits are one of the most important investment products offered by the bank, Kotak Mahindra Bank offers you the opportunity to open a Kotak Fixed Deposit Account with their customer, The bank offers a wide variety of fixed deposit tenures to choose from and the rate of return on deposits is also very attractive.
Kotak Bank FD Rates 2024
Kotak Bank offers interest rates of up to 7.2 per cent on fixed deposits with maturities of 390 days to two years, while for senior citizens, the interest rate is up to 7.5 per cent for the same tenure, Kotak Bank has hiked the fixed deposit interest rate by 50 basis points (bps) per term, effective May 11, 2024 to Rs. Revised rate of interest is applicable for deposits below 2 crores.
Kotak FD Interest Rates
- Kotak Bank offers an interest rate of 2.75% to 7.20% to general citizens.
- Offers interest rate between 3.25% to 7.70% for senior citizens.
- The bank has increased the interest rate for general citizens by 50 bps from 6.50% to 7% for a period of 180 days.
- Increased by 10 bps from 7% to 7.10% from 365 days to 389 days.
Kotak Bank FD Interest Rate For Domestic / NRO / NRE effective from 11th May 2024)
Regular | Senior Citizen* | |||
| Maturity Periods – Premature Withdrawal Allowed | Less than Rs.2 Crore# | Annualised Yield | Less than Rs.2 Crore# | Annualised Yield |
| 7 – 14 Days | 2.75% | 2.75% | 3.25% | 3.25% |
| 15 – 30 Days | 3.00% | 3.00% | 3.50% | 3.50% |
| 31 – 45 Days | 3.25% | 3.25% | 3.75% | 3.75% |
| 46 – 90 Days | 3.50% | 3.50% | 4.00% | 4.00% |
| 91 – 120 Days | 4.00% | 4.00% | 4.50% | 4.50% |
| 121 – 179 days | 4.25% | 4.25% | 4.75% | 4.75% |
| 180 Days | 7.00% | 7.00% | 7.50% | 7.50% |
| 181 Days to 269 Days | 6.00% | 6.09% | 6.50% | 6.61% |
| 270 Days | 6.00% | 6.09% | 6.50% | 6.61% |
| 271 Days to 363 Days | 6.00% | 6.09% | 6.50% | 6.61% |
| 364 Days | 6.50% | 6.61% | 7.00% | 7.12% |
| 365 Days to 389 Days | 7.10% | 7.29% | 7.60% | 7.82% |
| 390 Days (12 months 25 days) | 7.20% | 7.40% | 7.70% | 7.93% |
| 391 Days – Less than 23 Months | 7.20% | 7.40% | 7.70% | 7.93% |
| 23 Months | 7.20% | 7.40% | 7.70% | 7.93% |
| 23 months 1 Day- less than 2 years | 7.20% | 7.40% | 7.70% | 7.93% |
| 2 years- less than 3 years | 7.00% | 7.19% | 7.50% | 7.71% |
| 3 years and above but less than 4 years | 6.50% | 6.66% | 7.00% | 7.19% |
| 4 years and above but less than 5 years | 6.25% | 6.40% | 6.75% | 6.92% |
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.35% | 6.70% | 6.87% |
Kotak Bank FD Interest Rate For Domestic/ NRO / NRE effective from 01st July 2024
| Maturity Period – Premature Withdrawal Allowed | Rs. 2 Crore & above but below Rs. 5 Crores # | Rs. 5 Crores & above but below Rs. 10 Crores # | Rs. 10 Crores & above but below 25 Crores # | Rs. 25 Cr & above but below 100 cr # | Rs. 100 Cr and above # |
| 7 – 14 Days | 4.00% | 4.50% | 4.50% | 4.50% | 4.50% |
| 15 – 30 Days | 4.00% | 4.75% | 4.75% | 4.75% | 4.75% |
| 31 – 45 Days | 4.50% | 5.50% | 5.50% | 5.50% | 5.50% |
| 46 – 60 Days | 4.75% | 5.75% | 5.75% | 5.75% | 5.75% |
| 61 – 90 Days | 5.25% | 6.25% | 6.25% | 6.25% | 6.25% |
| 91 – 120 Days | 5.50% | 6.75% | 6.75% | 6.90% | 6.90% |
| 121 – 179 Days | 6.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 180 Days | 7.00% | 7.00% | 7.00% | 7.00% | 7.00% |
| 181 Days to 270 Days | 6.50% | 7.05% | 7.10% | 7.10% | 7.10% |
| 271 Days to 279 Days | 5.50% | 5.75% | 5.75% | 5.75% | 5.75% |
| 280Days ‐ 364 days | 6.75% | 7.10% | 7.10% | 7.20% | 7.20% |
| 365 days ‐ Less Than 15Months | 7.25% | 7.35% | 7.35% | 7.35% | 7.35% |
| 15 months – less than 18 months | 7.25% | 7.30% | 7.30% | 7.30% | 7.30% |
| 18 months – less than 2 Years | 7.25% | 7.10% | 7.10% | 7.10% | 7.10% |
| 2 years and above but less than 3 years | 7.00% | 7.10% | 7.10% | 7.10% | 7.10% |
| 3 years and above but less than 4 years | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% |
| 4 years and above but less than 5 years | 6.25% | 6.40% | 6.40% | 6.40% | 6.40% |
| 5 years and above upto & inclusive of 7 years | 6.25% | 6.25% | 6.25% | 6.25% | 6.25% |
Kotak Bank FD Interest Rate for Domestic/ NRO / NRE Fixed Deposits effective from 01st July 2024
| Maturity Period – Premature Withdrawal Not Allowed | Rs. 2 Crore & above but below Rs. 5 Crores # | Rs. 5 Crores & above but below Rs. 10 Crores # | Rs. 10 Crores & above But below 25 Crores # | Rs. 25 Cr & above but below 100 cr # | Rs. 100 Cr and above # |
| 91 – 120 Days | NA | 7.10% | 7.10% | 7.10% | 7.10% |
| 121 – 179 Days | NA | 7.15% | 7.15% | 7.15% | 7.15% |
| 180 Days | NA | 7.20% | 7.20% | 7.20% | 7.20% |
| 181 Days to 270 Days | 6.80% | 7.25% | 7.25% | 7.25% | 7.25% |
| 271 Days to 279 Days | 6.00% | 6.25% | 6.25% | 6.25% | 6.25% |
| 280Days ‐ 364 days | 7.15% | 7.35% | 7.35% | 7.35% | 7.35% |
| 365 days ‐ Less Than 15Months | 7.55% | 7.55% | 7.55% | 7.55% | 7.55% |
| 15 months – less than 18 months | 7.50% | 7.50% | 7.50% | 7.50% | 7.50% |
| 18 months – less than 2 Years | 7.40% | 7.30% | 7.30% | 7.30% | 7.30% |
| 2 years and above but less than 3 years | 7.20% | 7.25% | 7.25% | 7.25% | 7.25% |
NOTE – Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE).
| Tenure of Fixed Deposit | Penalty |
|---|---|
| Less than 181 days | Nil |
| 181 days and above | 0.50% |
NOTE – Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE) with effective from 20th May, 2022.
| Tenure of Fixed Deposit | Penalty |
| Less than equal to 180 days | Nil |
| Greater than 180 days to less than or equal to 364 days | 0.50% |
| Greater than or equal to 365 days | 1.00% |
Floating Rate Linked Term Deposits – The bank offers Floating Rate Linked Term Deposit for amount Rs. 5 cr and above, details of the same are as under.
| Maturity Periods | Rate |
|---|---|
| 90 – 180 days | Repo + 25 bps |
| 181 – 364 days | Repo + 50 bps |
| 365 – 730 days | Repo + 85 bps |
Note – Kotak Mahindra Bank Fixed Deposit Rates are subject to change at the discretion of the bank, the information given here is only the current interest rates given by the bank, when you want to make a fixed deposit in the bank, you should This Url https://www.kotak.com/en/personal-banking/deposits/fixed-deposit/fixed-deposit-interest-rate.html visit the official website of Kotak Mahindra Bank for confirmation.
What is Kotak Mahindra Bank FD scheme interest rate for 5 years?
6.2% p.a is the interest rate on Kotak Mahindra Bank FD scheme for 5 years.
What is the highest Kotak Mahindra Bank FD rate today?
Kotak Mahindra Bank has the highest FD rates for general citizens at 7.2% p.a. and 7.7% p.a. For Senior Citizens.
Is Mahindra Finance safe for FD?
Yes, Mahindra Finance is a good place to put your money. It has a Crisil FAAA rating.