• Kotak Mahindra Bank RD Interest Rates

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    Tenure Interest Rate p.a. ( %) Senior Citizen Rates p.a. ( %)
    12 Months6.67.1
    15 Months6.57
    18 Months6.57
    21 Months6.57
    24 Months6.46.9
    27 Months6.46.9
    30 Months6.46.9
    33 Months6.46.9
    3 years - less than 4 years6.256.75
    4 years - less than 5 years6.256.75
    5 years - 10years66.5

    Get the Best Rates For a Kotak Mahindra Bank Recurring Deposit

    Kotak Mahindra Bank offers a regular recurring deposit scheme at competitive interest rates to Indian citizens and HUFs. Customers can make a small deposit every month and get maximum returns on their investments with a Kotak Mahindra recurring deposit plan. The PAN card has to be submitted as a mandatory document when a recurring deposit account is opened. The payment towards a Kotak Mahindra Bank recurring deposit can be done from the customer’s savings account. The interest will be paid to the customer during pre-closure or on maturity of the recurring deposit. Accounts can be opened with minors as the primary applicant and also as joint applications for a minimum time period of 12 months. The recurring deposit tenure can be increased in multiples of three months and the maximum tenure can go up to 10 years, i.e., 120 months. The minimum deposit amount required while opening an account is Rs. 100 and can go up to Rs. 50,000, every month, for tenures up to 10 years. The minimum amount required for tenures going up to 36 months would be Rs. 50,001 to Rs. 1, 00,000.

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    Kotak Mahindra Bank - Short Term RD Interest Rates

    Customers can open Kotak Mahindra recurring deposits with smaller tenures starting at 12 months and going up to 18 months. The interest rate offered for a recurring deposit with a tenure of 12 months is 7.50% and with tenures of either 15 months or 18 months, it is 7.50%.

    Kotak Mahindra Bank - Medium and Long Term RD Interest Rates

    As medium and long-term recurring deposits, Kotak Mahindra offers accounts with tenures ranging from 21 months, 24 months, 27 months, 30 months, 33 months and up to 4 years. The interest rate charged for tenures ranging from 21 months to 33 months is 7.50% and for tenures from 3 years to below 4 years, it is 7.25%. The longer tenures available are from 4 years to up to 10 years. The interest rate given for a tenure of 4 years to below 5 years is 7.25% and for tenures between 5 years and 10 years, the interest rate is 7.00%.

    Kotak Mahindra Bank - Senior Citizen RD Interest Rates

    Senior citizens can enjoy slightly higher interest rates on recurring deposits from Kotak Mahindra Bank. All senior citizen recurring deposit accounts get an additional 0.50% higher interest rate per annum. The interest rate offered on senior citizen recurring deposits with a 12-month tenure is 8.00% and with tenures ranging from 15 months to 33 months, it is 8.00%. For tenures ranging between 3 years to below 4 years, the interest rate offered would be 7.75%. A longer recurring deposit tenure from 5 years to up to 10 years, can be opened at an interest rate of 7.50%.

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    News About Kotak Mahindra Bank Recurring Deposit Interest Rates

    • Following SBI, Kotak Mahindra Bank Reduced Their Interest Rates On Deposits Between Rs.1 Crore and Rs.5 Crore

      Kotak Mahindra Bank is one of the leading private banks in India. Recently, after State Bank of India reduced their interest rates on their savings account deposits, many banks followed the trend. Kotak Mahindra Bank as well has dropped their interest rates on savings account above Rs. 1 lakh and up to Rs.1 crore.

      For savings account deposits above Rs. 1 crore and up to Rs.5 crores, the bank now offers rate of interest of 5.5% p.a, which was 6% previously. However, the interest rates for deposits below Rs.1 lakh and above Rs.5 crore hasn't changed and still stands at 5% p.a and 5.5% p.a, respectively. Please contact your bank for revised interest rates on savings and recurring deposits.

      18 August 2017

    • Kotak Mahindra Bank Will Not Reduce Their Rates oN Deposits

      Top executives at Kotak Mahindra Bank stated that they do not wish to cut their interest rate on their savings bank deposits anytime in the near future as it has helped them immensely to grow their base twice the industry rate in the past.

      Unlike State Bank of India who offer only 3.5% p.a on savings bank account, Kotak Mahindra Bank offers 6% p.a., which is very high than its peer banks.

      President for consumer banking at Kotak Mahindra Bank,

      Shanti Ekambaram, stated that by June 2017, when the quarter ended, the bank saw 44% growth in their savings account balance which was two times more than the industry average.

      14 August 2017

    • Rate of 1 year Fixed Deposit Reduced By Kotak Mahindra Bank to 7%

      Kotak Mahindra Bank, one of the country’s leading private-sector lender has brought down the interest rates on fixed-deposits of one year by 25 basic points to 7% - visibly lower than 7.05% offered by the State Bank of India on the same. This new rate will come into effect on Monday. This move by Kotak Mahindra Bank comes close on the heels of a similar lowering of interest rates by its larger competitor HDFC. Earlier, the State Bank of India had rolled back interest rates by 10bps – starting on October 24 – bringing it to a six-year low. HDFC had followed suit - cutting interest rates by 25 bps – starting November 8. Kotak has also slashed interest rates on two and three year deposits by 50bps each - bringing it down to 6.75%. Meanwhile, SBI’s rates for the same are at 7% and 6.5% respectively – and HDFC offers the same at the rate of 7% for both terms. Meanwhile, private sector competitors ICICI Bank and Axis Bank continue to offer interest rates of one, two and three year deposits at 7.25%.

      With the recent demonetization move undertaken by the government and the resulting stoppage of 500 and 1000 rupee notes, the average quantum of deposits in banks have witnessed a significant rise.

      16 November 2016

    • Kotak Mahindra Releases Revised Recurring Deposit Rates

      Kotak Mahindra bank has revised the interest rates with effect from 25th August 2016. The new rates offer senior citizens an additional 0.50% interest p.a. across all tenures. The general interest rates offered for tenures ranging from 12 months to 33 months is 7.50% p.a. and senior citizens avail an interest of 8% p.a. for the same tenures. Tenures of three years and above but less than five years attract a general interest of 7.25% p.a. and senior citizen interest of 7.75% p.a. For tenures ranging between 5 to 10 years the interest rates available are 7% p.a. for general and 7.50% p.a. for senior citizens.

      25 August 2016

       
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    Kotak Mahindra Bank RD Rates Reviews

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    • Page 1 of 2 1 2
    • Kotak Recurring Deposit
      "Satisfactory & happy"
      KOTAK MAHINDRA BANK
      0.5 4.5/5 "Excellent!"
      They are giving 6% interest rate for the Recurring Deposit. It was a very good service with Kotak. The request has been placed online. I have chosen Kotak because they are giving more benefits and high potentials. The customer service and response is good.
      Was this review helpful? 2

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      , kolkata
      Reviewed on Nov 16, 2017
    • Kotak Recurring Deposit
      "not good"
      KOTAK MAHINDRA BANK
      0.5 1.0/5 "Really Bad"
      Bad service and experience i had with KOTAK MAHENDRA Bank for holding my recurring deposit account over there . I availed it for rupees 20,000 and i was paying monthly EMI 3,000 . When i asked them can i have a plan for 4 years they informed me that i can only take for 11 months and after that i need to renew it . The rate of interest was good they were providing .
      Was this review helpful? 1

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      , hyderabad
      Reviewed on Sep 28, 2017
    • Kotak Recurring Deposit
      "Good "
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      I am having recurring deposit account with the Kotak mahindra bank and the interest rate is around 6.79%, which is not really okay. Total tenure is for one year of time. Customer service is good one with them and the response is also a good one. There is no option to withdraw the money in between the tenure.
      Was this review helpful? 9

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      , bangalore
      Reviewed on May 18, 2017
    • Kotak Recurring Deposit
      "Better Response"
      KOTAK MAHINDRA BANK
      0.5 3.0/5 "Satisfactory"
      For my recurring deposit account , I pay thousand rupees every month for one year with Kotak mahindra. I will get some good amount at the end of the year with good interest. Customer service is not that much good but it is better. They are giving response whenever I approach them.
      Was this review helpful? 6

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      , indore
      Reviewed on May 04, 2017
    • Kotak Recurring Deposit
      "Its Good"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      I have opened a Recurring deposit in Kotak through their mobile application. I got confirmation immediately and there is an option in netbanking to view everything in one click. I have selected the premium of Rs.3000 to make every month its for the period of one year, after that period I will be getting 7.5% of interest total I will get the amount around Rs.38,700.
      Was this review helpful? 5

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      , chandigarh
      Reviewed on Mar 30, 2017
    • Kotak Recurring Deposit
      "Nice experience"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      It was not a difficult task to open a recurring deposit at Kotak Mahindra bank. I could do it online and I can also close the same online. There has been no delay in me getting the funds though in my account. They offer a good interest rate. Good overall.
      Was this review helpful? 4

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      , thane
      Reviewed on Dec 22, 2016
    • Kotak Recurring Deposit
      "Easy way"
      KOTAK MAHINDRA BANK
      0.5 3.0/5 "Satisfactory"
      Kotak offers Recurring deposits comes with an interest rate of around 8%. There is no locking period or freezing time applied by kotak. In case of closure we can make a call to the branch and they credit the amount within 2days of time which was the best part about KOTAK.
      Was this review helpful? 4

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      , pune
      Reviewed on Jul 28, 2016
    • Kotak Recurring Deposit
      "Good form of savings"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      I have taken a recurring deposit with Kotak Mahindra Bank. I pay approximately 1k+ every month and this goes from my account. I have taken the deposit for 15 months. They pay a rate of interest of approximately 9%. I had booked the deposit for savings purpose when they introduced the scheme about 2 years back. They do not charge for breaking the deposit and this helps during emergency situations.
      Was this review helpful? 0

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      , pune
      Reviewed on Jul 02, 2016
    • Kotak Recurring Deposit
      "Good. If there is an online option for opening a RD"
      KOTAK MAHINDRA BANK
      0.5 2.0/5 "Expected more"
      I had a recurring deposit account with Kotak Mahindra Bank. The services and response is good. The only drawback is that I am not able to open this account online. I need to call the customer care for it. The rate of interest is good. There are no charges too.
      Was this review helpful? 2

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      , bangalore
      Reviewed on Apr 16, 2016
    • Kotak Recurring Deposit
      "Satisfactory"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      I do have the recurring deposit with the Kotak mahindra bank and the interest rate is a nominal one with them. I have opened this account through online banking services, also I would like to say that the services are good one with the Kotak mahindra bank.
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      , bangalore
      Reviewed on Mar 10, 2016
    • Kotak Recurring Deposit
      "Need to improve "
      KOTAK MAHINDRA BANK
      0.5 3.0/5 "Satisfactory"
      I have closed the recurring deposit with Kotak Mahindra.The tenure for the recurring deposit is around 2years but I have closed within a years time.They give lesser rates for the recurring deposit applied.They have not applied any charges in the account.
      Was this review helpful? 5

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      , bangalore
      Reviewed on Feb 25, 2016
    • Kotak Recurring Deposit
      "Average service "
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      The service provided was good and simple in recurring deposit with Kotak Mahindra bank.Since I hold the salary account the process was very simple.The interest rate applied on the recurring deposit was around 8.75% for the recurring account.The returns provided was good.
      Was this review helpful? 0

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      , hyderabad
      Reviewed on Feb 15, 2016
    • Kotak Recurring Deposit
      "good benefits..."
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      Due to the benefits I have chosen Kotak Mahindra bank. Previously the interest rate for recurring deposit was 9% where now it is about 7.3%. Kotak might be providing over draft basis this recurring deposit. In regards to service, no doubt the Kotak is the best.
      Was this review helpful? 1

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      , chennai
      Reviewed on Jan 05, 2016
    • Kotak Recurring Deposit
      "Good rates "
      KOTAK MAHINDRA BANK
      0.5 5.0/5 "Blown Away!"
      The recurring deposit service provided was really good with Kotak Mahindra Bank.Its a normal service and they apply interest rate around 9% in the recurring deposit service.There net banking system is really good and the features available are very good with Kotak.
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      , bangalore
      Reviewed on Dec 17, 2015
    • Kotak Recurring Deposit
      "Phenomenal..."
      KOTAK MAHINDRA BANK
      0.5 5.0/5 "Blown Away!"
      On recurring deposit the interest rate is 7% and this keep changing as I open the deposit every three months with Kotak Mahindra bank. Probably the rate would be compounding. If I am going to break the plan the penalty would be 50 to 100 rupees.
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      , new delhi
      Reviewed on Nov 27, 2015
    • Kotak Recurring Deposit
      "Very Good!!!"
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      Recurring deposit is in Kotak Bank. I used to invest certain amount every month and at the end we can get a good amount out of savings. I used to get an interest around 8.1% annually. I used to get very good interest . I had a very good facility from Kotak so it is a good bank.
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      , bangalore
      Reviewed on Nov 13, 2015
    • Kotak Recurring Deposit
      "Growing with Kotak"
      KOTAK MAHINDRA BANK
      0.5 3.0/5 "Satisfactory"
      Recurring deposit with the Kotak Mahindra Bank giving the rate of interest as 8%. Everything is good with them like they are giving the high rate of interest for my salary account also. I would like to say that they need to improve in the online banking system and their mobile application is complicated. Interest will be added to my account on monthly basis. The minimum lock in period to have recurring deposit is around one year of time. I would not suggest this bank because they are having very less number of branches.
      Was this review helpful? 0

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      , bangalore
      Reviewed on Oct 27, 2015
    • Kotak Recurring Deposit
      "Always..good for me...."
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      For the first year Kotak bank offered 9.5% interest. After the deductions of tax I am getting 6.5% interest for my Recurring deposit. I am maintain this account for the past 1.6years. Customer service really good I would say they are very supportive.
      Was this review helpful? 0

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      , bangalore
      Reviewed on Oct 12, 2015
    • Kotak Recurring Deposit
      "Very fine to have the deposit..."
      KOTAK MAHINDRA BANK
      0.5 5.0/5 "Blown Away!"
      At any time I can withdraw the recurring deposit where Kotak Mahindra bank will not charge anything like penalty. If I do have extra balance in my account automatically that amount would be transferred to this deposit where I get interest of 4 to 5%.
      Was this review helpful? 0

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      , new delhi
      Reviewed on Oct 10, 2015
    • Kotak Recurring Deposit
      "Kotak is good..."
      KOTAK MAHINDRA BANK
      0.5 4.0/5 "Great!"
      I opened two recurring deposits where one is going to mature by next month. One was offered by the Kotak Mahindra bank and the rate was 9% but when I opened the second one by myself the rate was 8.5%. We can withdraw the amount in middle but the charge would be 12%.
      Was this review helpful? 1

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      , bangalore
      Reviewed on Oct 07, 2015
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