Kotak Mahindra Bank FD Rates 2020

Fixed Deposits (FDs) or Term Deposits are one of the most important investment products offered by Kotak Mahindra Bank. Kotak Mahindra Bank offers you the option of opening an fixed deposit account with them. The bank offer a variety of tenures to choose from and the rate of return on the deposits are quite attractive as well.

Kotak Mahindra Bank FD Rates (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 rate p.a. (General citizens) Interest rate p.a. (Senior citizens)
7 - 14 Days 3.00% 3.50%
15 - 30 Days 3.50% 4.00%
31 - 45 Days 3.50% 4.00%
46 - 90 Days 4.50% 5.00%
91 - 120 Days 4.50% 5.00%
121 – 179 Days 4.75% 5.25%
180 Days 5.10% 5.60%
181 Days to 269 Days 5.25% 5.75%
270 Days 5.25% 5.75%
271 Days to 363 Days 5.25% 5.75%
364 Days to 389 Days 5.25% 5.75%
390 Days 5.60% 6.10%
391 Days - less than 2 years 5.25% 5.75%
2 years - less than 3 years 5.00% 5.50%
3 years - 10 years 5.00% 5.50%

Note: The interest rates mentioned in the table are as of 29 April 2020.

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

For deposits above Rs.2 crore, the rate of return provided by the bank on fixed deposits are listed in the table below:

Tenure Interest rate p.a. (Rs.2 crore to Rs.5 crore) Interest rate p.a. (Above Rs.5 crore)
7 - 14 Days 3.00% 2.50%
15 - 30 Days 3.00% 3.00%
31 - 45 Days 3.50% 3.25%
46 - 60 Days 3.75% 3.50%
61 - 90 Days 3.75% 3.75%
91 - 120 Days 4.00% 3.75%
121 - 179 Days 4.25% 4.00%
180 Days 5.00% 4.00%
181 Days to 270 Days 5.00% 4.25%
271 Days to 279 Days 3.50% 3.25%
280 Days to Less than 12 Months 5.00% 4.40%
12 months - less than 15 months 5.25% 4.40%
15 months - less than 18 months 5.25% 4.40%
18 months – less than 2 years 5.00% 4.35%
2 years and above but less than 3 years 5.00% 4.35%
3 years and above but less than 5 years 5.00% 4.50%
5 years and above 5.00% 4.50%

Note: The interest rates mentioned in the table are as of 29 April 2020.

Kotak Mahindra Bank NRE and NRO FD Rates

When it comes to NRE and NRO Fixed deposits, the interest offered by Kotak Mahindra Bank is the same as the domestic fixed deposit rates.

Term-wise Kotak Mahindra Bank FD Interest Rates

Kotak Mahindra Bank Short-term Term Deposits

You can opt to open a short-term fixed deposit with Kotak Mahindra Bank. The tenure of a short-term FD ranges between 7 days to less than 12 months. The interest paid on such deposits is between 3.00% p.a. to 5.00% p.a. when the deposit amount is below Rs.2 crore.

Kotak Mahindra Bank Medium-term Deposits

The bank also offers the option of opening a medium-term fixed deposit. The tenure for such deposits range between 12 months to less 60 months. The rate of return on medium-term FDs is between 5.25% p.a. to 5.00% p.a.

Kotak Mahindra Bank Long-term Deposits

The interest paid on long-term fixed deposits by Kotak Mahindra Bank is 5.00% p.a. The tenure for long-term FDs is between 5 years and 10 years.

Kotak Mahindra Bank Fixed Deposit Interest Rates for Senior Citizens

Citizens who fall in the bracket of senior citizens are offered additional interest of 0.50% by the bank for opening an FD account with them. The payable interest is in the range of 3.50% p.a. to 5.50% p.a.

Know how to Link Your KYC Dcuments to Kotak Mahindra Bank Account

News About Kotak Mahindra Bank Fixed Deposit

  • Kotak Mahindra Bank Cuts Down Interest Rates on Fixed Deposits

    Kotak Mahindra Bank revised its interest rates being offered on the fixed deposits of selected maturities which were effective from 18 October 2019. Previously, the bank had revised the interest rates on 13 September 2019. The interest rate for different maturities ranges from 3.50% to 6.75% per annum.

    For the fixed deposits maturing in 7 to 14 days, 15 to 30 days and 31 to 45 days, Kotak Mahindra Bank is offering an interest rate of 3.5%, 4.00% and 5.00% per annum respectively. After the latest revision, on FDs between 46-90 days, Kotak Mahindra Bank is offering an interest rate of 5.25% per annum.

    The interest rate given is 5.50% on fixed deposits maturing between 46 and 90 days. Kotak Mahindra Bank will be offering an interest rate of 5.60% on FDs maturing between 121 and 179 days. For the term deposits maturing in 180 to 270 days, an interest rate of 6.25% is given by the bank. For the FDs maturing in 271 days to 363 days, the bank offers an interest rate of 6.35% per annum. For deposits maturing in 364 days (less than 1 year), the Kotak Mahindra offers an interest rate of 6.75% per annum.

    Senior citizens will be receiving 50 basis points higher interest rates than the general public. The bank offers interest rates ranging between 4.00% and 7.25% on the fixed deposits maturing in 7 days to 10 years.

    Apart from Kotak Mahindra Bank, State Bank of India (SBI), HDFC Bank, Axis Bank, Punjab National Bank (PNB), IndusInd are some of the other banks which revised interest rates for FDs in the month of October.

    22 October 2019

  • Kotak Mahindra Bank Revises Fixed Deposit Rates

    Kotak Mahindra Bank has revised their interest rates for fixed deposits which has been effective from 6 September 2019. The current rate of interest for fixed deposits ranges from 3.50% per annum to 6.80% per annum.

    For the fixed deposits which are maturing in 7 to 14 days, 15 to 30 days and 31 to 45 days, Kotak Mahindra Bank offers interest rate 3.5%, 4.00% and 5% respectively.

    After their latest revision, the Bank is offering 5.25% interest on the fixed deposits maturing between 46-90 days. For a tenure of 91 to 120 days, the interest rate which is offered is 5.50%.

    Kotak Mahindra Bank is offering an interest rate of 5.60% for the fixed deposits maturing between 121 and 179 days. For term deposits maturing in 3 months to 9 months, Kotak Mahindra Bank is offering a 6.25% interest.

    For FDs maturing in 271 days to less than 1 year, Kotak Mahindra Bank offers an interest rate of 6.35%. The highest rate of interest for deposits maturing in less than a year is for a duration of 364 days with an interest rate of 6.75% per annum.

    For the fixed deposits maturing between one year to 389 days, an interest rate of 6.75% is given. For deposits maturing in 390 days, the interest rate offered is 6.80%.

    Fixed deposits which are maturing in 391 days to less than 23 months, Kotak Mahindra Bank gives 6.70% interest. For deposits maturing in 23 months to less than 2 years, the bank is offering a 6.70% interest. After the latest revision, fixed deposits maturing within a period 390 days will be given the highest interest rate of 6.80%.

    13 September 2019

  • Kotak Mahindra Latest Bank to Revise Interest Rates

    Kotak Mahinda Bank has revised their fixed deposit rates, joining other private sector banks in revising their rates.

    Fixed deposits maturing in 7 to 45 days will attract interest between 3% and 5%. Tenors of 46-90 days will attract interest at 5.25% while deposits between 91 to 120 days will attract 5.75%.

    Interest on FD’s with a tenor of 121 and 179 days will be 6% while deposits maturing between 180 to 270 days will attract 6.40% interest. Deposits maturing from 271 to 364 days will see a 6.75% interest rate payout.

    For deposits maturing between 365 to 389 days, deposit holders will receive 6.75% interest. Deposits maturing in 390 days but in less than 23 months will receive 6.80% interest.

    20 August 2019

  • FD rates revised by kotak mahindra bank

    Kotak Mahindra Bank has revised the fixed deposit (FD) rates with effect from July 11. The bank is the latest lender to have tweaked the FD rates after Bandhan Bank, Yes Bank, HDFC Bank, Punjab National Bank, ICICI Bank, Canara Bank, and Axis Bank. As per the bank’s website, the interest rates offered on various tenures range between 3.5% and 7.2% per annum.

    The bank offers interest in the range of 3.50% to 5.50% p.a. on deposits having a tenure between 7 days to 90 days. FDs opened for a tenure of 91 days to 270 days attract interest in the range of 6% to 6.50% p.a. For opening a FD having a maturity period of 271 days to 10 years, the interest offered to customers is in the range of 6.50% to 7.20% p.a.

    The highest interest rate offered by the lender can be availed for opening a FD having a tenure of 390 days to less than 23 months. It needs to be mentioned here that banks have been revising the FD rates after Reserve Bank of India (RBI) on June 6 cut the key policy rate by another 25 basis points and asked banks to do more.

    16 July 2019

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