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Kotak Mahindra Bank FD Rates

Support Head
  • Updated

For Resident Indians

Deposit Amount Range Tenure Range Interest Rate
Up to ₹2Cr 7 Days to 10 Years

3.5% - 7.30%

(Monthly Compounding)

Features: Premature withdrawal

                Online facilities

                Partial withdrawal 

                Tax savings 

Documents

Credit Rating: FAAA

Number of Nominees: 1

Institution type: Indian Private Sector Bank

 

Kotak Mahindra is a well-known name in the world of finance. It was first a non-banking finance company that became a commercial bank in 2003. The bank currently has a wide number Fixed Deposit (FD) schemes to choose from. Kotak offers attractive interest rates on all its term deposit schemes.

 

Kotak Bank Short-term FD Rates

  • Maturities available: 7 days to 12 months
  • Highest FD rate: 7.00% p.a.

Kotak Bank Medium-term Deposit Rates

  • Tenure range: 12 months to 60 months
  • Highest Kotak Bank FD rate: 7.30% p.a.

Kotak Bank Long-term Fixed Deposit Interest Rates

  • Maturity period: Above 60 months to 120 months
  • FD interest rate: 6.50% p.a.

Kotak Bank Term Deposits For Senior Citizens

  • Range of FD rates: 4.00% p.a. to 7.80% p.a.
  • Highest interest rate for Senior Citizens: 7.80% p.a.
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL ALLOWED
INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 26th March 2019. (Rates are subject to change from time to time)
  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 3.50% 3.50% 4.00% 4.00%
15 - 30 Days 4.00% 4.00% 4.50% 4.50%
31 - 45 Days 5.00% 5.00% 5.50% 5.50%
46 - 90 Days 5.50% 5.50% 6.00% 6.00%
91 - 120 Days 6.25% 6.25% 6.75% 6.75%
121 - 179 days 6.25% 6.25% 6.75% 6.75%
180 Days 6.50% 6.50% 7.00% 7.00%
181 Days to 269 Days 6.60% 6.71% 7.10% 7.23%
270 Days 6.60% 6.71% 7.10% 7.23%
271 Days to 363 Days 7.00% 7.12% 7.50% 7.64%
364 Days 7.00% 7.12% 7.50% 7.64%
365 Days to 389 Days 7.00% 7.19% 7.50% 7.71%
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 7.10% 7.29% 7.60% 7.82%
3 years and above but less than 4 years 7.00% 7.19% 7.50% 7.71%
4 years and above but less than 5 years 7.00% 7.19% 7.50% 7.71%
5 years and above upto and inclusive of 10 years 6.50% 6.66% 7.00% 7.19%
Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 26th March 2019. (Rates are subject to change from time to time)
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 Crores & above #
7 - 14 Days 4.50% 4.25% 4.25% 4.25%
15 - 30 Days 4.50% 4.75% 4.75% 4.75%
31 - 45 Days 5.75% 6.25% 6.25% 6.25%
46 - 60 Days 6.25% 7.00% 7.00% 7.00%
61 - 90 Days 6.50% 7.00% 7.00% 7.00%
91 - 120 Days 6.75% 7.00% 7.00% 7.00%
121 - 179 Days 6.75% 7.10% 7.10% 7.10%
180 Days 7.00% 7.10% 7.10% 7.10%
181 Days to 270 Days 7.00% 7.20% 7.20% 7.20%
271 Days to 279 Days 5.75% 5.75% 5.75% 5.75%`
280 Days to Less than 12 Months 7.25% 7.20% 7.20% 7.20%
12 months - less than 15 months 7.25% 7.25% 7.25% 7.25%
15 months - less than 18 months 7.25% 7.25% 7.25% 7.25%
18 months - less than 2 Years 7.25% 7.25% 7.25% 7.25%
2 years and above but less than 3 years 7.00% 7.00% 7.00% 7.00%
3 years and above but less than 4 years 7.00% 6.75% 6.75% 6.75%
4 years and above but less than 5 years 7.00% 6.75% 6.75% 6.75%
5 years and above upto & inclusive of 7 years 6.50% 6.00% 6.00% 6.00%
#Simple interest rate
*Senior Citizens' rate is not applicable on NRO/NRE deposits
- No interest will be payable for NRE TDs staying less than 1 year.
- For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
- Standalone Fixed Deposits of tenure 181 days and above linked to saving / current account will be treated as per the regular sweep deposit functionality and penal charge will be applicable as above.
- For ActivMoney (2 way sweep deposits) Regular Fixed Deposit rates will be applicable for all customers including Senior Citizen's / Bank Staff
- Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank.
- Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per RBI directives
- Above rates are applicable for mentioned dates only and are subject to change without prior notice
- The calculation of interest is basis 365 days in a non-leap year and 366 days in a leap (calendar) year.
 
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL NOT ALLOWED
Interest Rates for Domestic / NRO / NRE Fixed Deposits effective from 26th March 2019 (Rates are subject to change from time to time)
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 Crores & Above #
91 - 120 Days NA 7.10% 7.10% 7.10%
121 - 179 Days NA 7.20% 7.20% 7.20%
180 Days NA 7.20% 7.20% 7.20%
181 Days to 270 Days 7.10% 7.30% 7.30% 7.30%
271 Days to 279 Days 5.85% 5.85% 5.85% 5.85%
280 Days to Less than 12 Months 7.35% 7.30% 7.30% 7.30%
12 months - less than 15 months 7.35% 7.35% 7.35% 7.35%
15 months - less than 18 months 7.35% 7.35% 7.35% 7.35%
18 months - less than 2 Years 7.35% 7.35% 7.35% 7.35%
2 years and above but less than 3 years 7.10% 7.10% 7.10% 7.10%
#Simple interest rate
- Premature withdrawal of this deposit is not allowed till maturity.
- No interest will be payable for NRE TDs staying less than 1 year.
- For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
- ActivMoney/ Sweep in Facility is not available on this deposit
- Auto Renew option is not available.
- Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank
- Monthly Interest Payout option is not available.
- Above rates are applicable for mentioned dates only and are subject to change without prior notice
- Bank will not extend any kind of facility including OD against Fixed Deposits booked under No Premature Withdrawal scheme;
- Bank will not book Fixed Deposits in respect of funds lying in Escrow account / arrangement
- The calculation of interest is basis 365 days in a non-leap year and 366 days in a leap (calendar) year.
 
Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE)
Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms & Conditions of the bank.

As per Terms & Conditions of Fixed Deposit Accounts of the Bank, the penal charge on premature closure of fixed deposits including partial closure has been fixed by the bank as below on fixed deposits booked/ renewed on or after 1st November, 2012.
Tenure of Fixed Deposit Penalty
Less than 181 days Nil
181 days and above 0.50%

For erstwhile ING Vysya Bank customers the above premature withdrawal penalty slabs will be applicable for Tem Deposits booked/ Renewed on or after 1st April 2015.

In addition to the above, no interest will be paid on the principal amount withdrawn from NRE fixed deposits before completion of one year.

 

*Source: Kotak Bank Official Website

*Last Updated: 28/03/2019 

 

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