Kotak Mahindra Bank offers an interest rate between 2.75% to 7.25% to general citizens and 3.25% to 7.75% for senior citizens.
3 banks special FDs with higher interest rates ending on December 31
The bank has increased the interest rate by 50 bps on 3 years and above but less than 4 years from 6.50% to 7% and 75 bps increase on tenure of 4 years and above but less than 5 years from 6.25% to 7%.
Latest Kotak Mahindra Bank FD rates
| Maturity Periods | Less than Rs.2 Crore# | Less than Rs.2 Crore# |
| 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 24 days) | 7.15% | 7.65% |
| 391 Days – Less than 23 Months | 7.20% | 7.70% |
| 23 Months | 7.25% | 7.80% |
| 23 months 1 Day- less than 2 years | 7.25% | 7.80% |
| 2 years- less than 3 years | 7.10% | 7.65% |
| 3 years and above but less than 4 years | 7.00% | 7.60% |
| 4 years and above but less than 5 years | 7.00% | 7.60% |
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.70% |
Kotak Mahindra RD interest rates
Kotak Mahindra Bank offers interest rate between 6% to 7.20% for general citizens and 6.50% to 7.70% to senior citizens from tenure ranging from 6 months to 10 years.
| Tenure | Interest Rate p.a. ( %) | Senior Citizen Rates p.a. ( %) |
| 6 Months | 6.00% | 6.50% |
| 9 Months | 6.00% | 6.50% |
| 12 Months | 7.10% | 7.60% |
| 15 Months | 7.20% | 7.70% |
| 18 Months | 7.20% | 7.70% |
| 21 Months | 7.20% | 7.70% |
| 24 Months | 7.10% | 7.65% |
| 27 Months | 7.10% | 7.65% |
| 30 Months | 7.10% | 7.65% |
| 33 Months | 7.10% | 7.65% |
| 3 years – less than 4 years | 7.00% | 7.60% |
| 4 years – less than 5 years | 7.00% | 7.60% |
| 5 years – 10years | 6.20% | 6.70% |
Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits
According to the website, “Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms &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.”
| Tenure of Fixed Deposit | Penalty |
| Less than equal to 180 days | Nil |
| Greater than 180 days to less than or equal to 364 days | 0.50% |
| Greater than or equal to 365 days | 1.00% |
