Kotak Mahindra Bank FD Interest Rates

About Kotak Mahindra Bank FD

Kotak Mahindra Bank Limited is part of the Kotak Group, which has a wide range of operations spanning commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. The bank was established in 1985 and is headquartered in Mumbai. The bank’s subsidiaries are involved in investment banking, equity broking, securities-based lending, and car finance. In 2003, Kotak Mahindra Finance Ltd. was India’s first non-banking finance company to convert into a commercial bank. In 2014, the bank merged with ING Vysa to become Kotak Mahindra Bank. As of March 31st 2022, Kotak bank has 1,700 branches across India and 2,705 ATMs. Kotak Bank Deposits stood at INR 3,10,087 crore as of March 2022. Kotak Bank’s Fixed Deposits have a AAA (Stable) Credit Rating.

2.75% - 7.2%

FD Rate

3.25% - 7.7%

FD Rate for Seniors

₹ 10000

Minimum Deposit

₹ 2 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AAA (Stable)

CRISIL Rating 

Kotak Mahindra Bank FD Rates for Below Rs. 2 crore

Listed in the table below are the interest rates offered by Kotak Mahindra Bank on term deposits below Rs.2 crore.

Tenure	Interest Rates for General Public (p.a.)	Interest Rates for Senior Citizens (p.a.)
7 - 14 Days	2.75%	3.25%
15 - 30 Days	3.00%	3.50%
31 - 45 Days	3.25%	3.75%
46 - 90 Days	3.50%	4.00%
91 - 120 Days	4.00%	4.50%
121 - 179 days	4.25%	4.75%
180 Days	7.00%	7.50%
181 Days to 269 Days	6.00%	6.50%
270 Days	6.00%	6.50%
271 Days to 363 Days	6.00%	6.50%
364 Days	6.50%	7.00%
365 Days to 389 Days	7.10%	7.60%
390 Days (12 months 25 days)	7.20%	7.70%
391 Days - Less than 23 Months	7.20%	7.70%
23 Months	7.20%	7.70%
23 months 1 Day- less than 2 years	7.20%	7.70%
2 years- less than 3 years	7.00%	7.50%
3 years and above but less than 4 years	6.50%	7.00%
4 years and above but less than 5 years	6.25%	6.75%
5 years and above upto and inclusive of 10 years	6.20%	6.70%

Note: The interest rates mentioned in the table are as of 11 May 2023.

Kotak Mahindra Bank FD Rates (Above Rs.2 crore)

Listed in the table below are the interest rates offered by Kotak Mahindra Bank on term deposits above Rs.2 crore but less than Rs.10 crore.

Tenure	Rs. 2 Crore & above but below Rs. 5 Crores	Rs. 5 Crores & above but below Rs. 10 Crores
7 - 14 Days	4.00%	4.50%
15 - 30 Days	4.00%	4.75%
31 - 45 Days	4.50%	5.50%
46 - 60 Days	4.75%	5.75%
61 - 90 Days	5.25%	6.25%
91 - 120 Days	5.50%	6.75%
121 - 179 Days	6.00%	7.00%
180 Days	7.00%	7.00%
181 Days to 270 Days	6.50%	7.05%
271 Days to 279 Days	5.50%	5.75%
280Days ‐ 364 days	6.75%	7.10%
365 days ‐ Less Than 15Months	7.25%	7.35%
15 months - less than 18 months	7.25%	7.30%
18 months - less than 2 Years	7.25%	7.10%
2 years and above but less than 3 years	7.00%	7.10%
3 years and above but less than 4 years	6.50%	6.50%
4 years and above but less than 5 years	6.25%	6.40%
5 years and above upto & inclusive of 7 years	6.25%	6.25%

Note: The interest rates mentioned in the table are as of 21 June 2023.

Kotak Mahindra Bank on term deposits above Rs.10 crore

Tenure	Rs. 10 Crores & above but below 25 Crores	Rs. 25 Crores & above
7 - 14 Days	4.50%	4.50%
15 - 30 Days	4.75%	4.75%
31 - 45 Days	5.50%	5.50%
46 - 60 Days	5.75%	5.75%
61 - 90 Days	6.25%	6.25%
91 - 120 Days	6.75%	6.75%
121 - 179 Days	7.00%	7.00%
180 Days	7.00%	7.00%
181 Days to 270 Days	7.10%	7.10%
271 Days to 279 Days	5.75%	5.75%
280Days ‐ 364 days	7.10%	7.10%
365 days ‐ Less Than 15Months	7.35%	7.35%
15 months - less than 18 months	7.30%	7.30%
18 months - less than 2 Years	7.10%	7.10%
2 years and above but less than 3 years	7.10%	7.10%
3 years and above but less than 4 years	6.50%	6.50%
4 years and above but less than 5 years	6.40%	6.40%
5 years and above upto & inclusive of 7 years	6.25%	6.25%

Note: The interest rates mentioned in the table are as of 21 June 2023.

Types of Kotak Mahindra Bank FD Schemes

 Regular Fixed Deposit

• Minimum amount of deposit: Rs 5,000
• Tenure: 7 years – 10 years
• Additional 0.50% p.a. interest rate over the regular FD rates is offered to senior citizen FD depositors
• Premature withdrawal of deposits is allowed
• Simple interest will be used for calculating interest on deposits for below 181 days
• Interest in case of FD opened with monthly interest payout would be paid at discounted rates

Tax Saving Fixed Deposit

• Deposits are eligible for deduction of up to Rs 1.5 lakhs under section 80C of the Income Tax Act
• Tenure: 5 years – 10 years
• Lock in period: 5 years
• Partial or premature withdrawals are not allowed before the lock in period
• Nomination facility is available
• Depositors have the option to receive interest quarterly or at maturity

Sweep-In Facility

• This Sweep-In facility enables depositors to link their existing fixed deposit to their current or savings to enjoy liquidity
• Only the principal amount will be considered for the sweep-in facility
• Multiple FDs can be linked to a savings account