Kotak Mahindra Bank offers three different types of Fixed Deposit (FD) accounts at lucrative rates of interest. These are General Fixed Deposit, Senior Citizen Fixed Deposit, and Tax Saving Fixed Deposit. The tenure of the FD accounts ranges from 7 days to 10 years.
If you intend to invest in a fixed deposit offered by Kotak Mahindra Bank, you can use the FD calculator offered by the bank or by BankBazaar to find out the details of the investment and the earnings from the account. Using a FD calculator helps you save time and find accurate details about your investment.
The benefits of using a fixed deposit calculator can be summed up as follows:
Other Banks FD Calculator
The process to use the FD calculator offered by Kotak Mahindra Bank is mentioned below:
The procedure to use BankBazaar’s FD calculator is mentioned below:
The interest rates offered by Kotak Mahindra Bank for deposits of up to Rs.2 crore are mentioned below:
|Tenure||Interest rate offered to general citizens (per annum)||Interest rate offered to senior citizens (per annum)|
|7 to 14 Days||2.50%||3.00%|
|15 to 30 Days||2.50%||3.00%|
|31 to 45 Days||2.75%||3.25%|
|46 to 90 Days||2.75%||3.25%|
|91 to 120 Days||3.00%||3.50%|
|121 to 179 days||3.25%||3.75%|
|181 Days to 269 Days||4.40%||4.96%|
|271 Days to 363 Days||4.40%||4.96%|
|365 Days to 389 Days||4.50%||5.09%|
|390 Days (12 months 25 days)||4.80%||5.41%|
|391 Days to Less than 23 Months||4.80%||5.41%|
|23 months 1 Day to less than 2 years||5.00%||5.61%|
|2 years to less than 3 years||5.00%||5.61%|
|3 years and above but less than 4 years||5.10%||5.72%|
|4 years and above but less than 5 years||5.25%||5.88%|
|5 years and above up to and inclusive of 10 years||5.30%||5.93%|
Note: The rates of interest mentioned above are effective as of 26 April 2021.
The interest rates offered by Kotak Mahindra Bank for tax saving fixed deposits of up to Rs.2 crore are mentioned below:
|Tenure||Rate of Interest – General Citizens||Rate of Interest - Senior Citizens|
|5 years and above up to and inclusive of 10 years||5.30%||5.80%|
Note: The rates of interest mentioned above are effective as of 26 April 2021
The minimum tenure for Kotak Mahindra Tax Saving Fixed Deposit is 5 years.
The minimum tenure for Kotak Mahindra Tax Saving Fixed Deposit is 10 years.
Yes, you can open an FD account online.
Yes, nominees can be added to the FD account.
Yes, senior citizens are provided an additional interest rate for deposits made towards an FD account.
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