Kotak Mahindra Bank offers FD interest rates of 2.75-7.25% p.a. to the general public and 3.25-7.75% p.a. to senior citizens on tenures ranging from 7 days to 10 years. The interest rate on Kotak Mahindra Bank Tax Saving FDs is 6.20% p.a. for the general public and 6.70% p.a. for senior citizen depositors for tenures of 5 years to 10 years. The bank also offers various fixed deposit products for NRIs, such as NRO, NRE, and FCNR fixed deposits. Kotak Mahindra Bank accepts FCNR fixed deposits in US Dollars (USD), British Pound Sterling (GBP), Euro, Japanese Yen (YEN), Australian Dollar (AUD), and Singapore Dollar (SGD).
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FD Starts from Rs 2000
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*Rates are subject to change as per the bank's discretion.
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| Kotak Mahindra Bank Fixed Deposit (FD) Interest Rates (p.a.) Highlights 2023 | |
| Highest slab rate | 7.25% (for 23 months to less than 2 years) |
| For 1 year | 7.10% |
| For 2 years | 7.10% |
| For 3 years | 6.50% |
| For 4 years | 6.25% |
| For 5 years | 6.20% |
| Tax-Saving FD | 6.20% |
The interest rates are updated as of 4 December 2023
FDs of up to ₹5 lakhs insured by RBI
No hassle of opening a saving account
No documentation
| Tenure | Interest Rates (% p.a.) | |
| Regular Individuals | Senior Citizens | |
| 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) | 7.15 | 7.65 |
| 391 days to less than 23 months | 7.20 | 7.70 |
| 23 months | 7.25 | 7.75 |
| 23 months 1 day to less than 2 years | 7.25 | 7.75 |
| 2 years to less than 3 years | 7.10 | 7.60 |
| 3 years to less than 4 years | 6.50 | 7.00 |
| 4 years to less than 5 years | 6.25 | 6.75 |
| 5 years to 10 years | 6.20 | 6.70 |
Note: 1. Additional senior citizen’s interest rates will not be applicable for NRO or NRE Fixed Deposits
2. The minimum tenure for an NRE deposit is 365 days (1 year)
Card limit is 100% of FD Amount
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6.5%INTEREST ON FD
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years to 10 years | 6.20 | 6.70 |
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| Maturity | Interest Rates (% p.a.) | |||||
| USD (less than 0.5 million) | USD (0.5 million and above) | GBP | EURO | AUD | SGD | |
| 1 year | 5.95 | 5.95 | 5.85 | 4.25 | 5.30 | 4.30 |
| Above 1 year to less than 2 years | 5.65 | 5.65 | 5.55 | 4.00 | 5.00 | 4.00 |
| 2 years to less than 3 years | 4.60 | 4.60 | 4.60 | 3.00 | 4.40 | 3.00 |
| 3 years to less than 4 years | 4.00 | 4.00 | 4.00 | 2.40 | 4.05 | NA |
| 4 years to less than 5 years | 3.50 | 3.50 | NA | NA | NA | NA |
| 5 years only | 3.50 | 3.50 | NA | NA | NA | NA |
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| Maturity | Interest Rates (% p.a.) | |||||
| USD (less than 0.5 million) | USD (0.5 million and above | GBP | EURO | AUD | SGD | |
| 30 days to less than 6 months | 0.75 | 0.75 | 0.45 | NA | 0.01 | 0.01 |
| 6 months to less than 1 year | 1.50 | 1.50 | 1.30 | NA | 0.01 | 0.01 |
| 1 year | 5.95 | 5.95 | 5.85 | 4.25 | 5.30 | 4.30 |
| Above 1 year to less than 2 years | 5.65 | 5.65 | 5.55 | 4.00 | 5.00 | 4.00 |
| 2 years to less than 3 years | 4.60 | 4.60 | 4.60 | 3.00 | 4.40 | 3.00 |
| 3 years only | 4.00 | 4.00 | 4.00 | 2.40 | 4.05 | NA |
| Secured Credit Cards | Card Limit | Minimum FD | Annual Fee | Finance Charges |
| 811#DreamDifferent Credit Card | Up to 90% of FD
( Rs 9,000 to Rs 16 lakhs) |
Rs 10,000 | NIL | 42% p.a. |
| NRI Royale Signature Credit Card | Up to 80% of FD | Rs 1 lakh | Rs 1,000 | 37.2% p.a. |
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Interest will be paid after deducting the penal rate from the applicable rate. The applicable rate would be the interest rate applicable for the period of deposit for which the FD remained with the Bank at the time of FD opening or at the contracted rate, whichever is lower.
The penal charge on premature closure of FDs including partial closure has been fixed by the Kotak Mahindra bank as mentioned below on FDs booked/ renewed on or after 20th May 2022:
| Tenure of Fixed Deposit | Penalty |
| Less than equal to 181 days | NIL |
| Greater than 180 days to 364 days | 0.50% |
| 365 days and above | 1.00% |
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Account-holders can make use of the Kotak FD calculator to check the amount they would receive on maturity. This online tool is available at Paisabazaar.com and can be used without any charge or fee. Customers who want to invest in Kotak Mahindra Bank Fixed Deposit can check the maturity amount and interest earned by providing details like:
Using this FD Calculator, depositors can check and compare maturity amounts for different tenure & corresponding FD rates.
Q. What is the minimum & maximum tenure option of Kotak Bank Fixed Deposit Account?
A. The minimum and maximum tenure option of Kotak Bank Fixed Deposit Account is 7 days and 10 years respectively.
Q. What is the highest Kotak Bank FD rate?
A. Currently, the highest Kotak Bank FD rate is 7.25% for regular individuals and 7.75% for senior citizens. Rates can change at any time without prior notice.
Q. Who all are eligible for Kotak Bank Regular Fixed Deposit Scheme?
A. The deposit scheme is available to all resident individuals, HUFs, minors, and senior citizens above 60 years of age.
Q. Is premature withdrawal available for Kotak Bank Tax Saving Fixed Deposit?
A. No, premature withdrawal is not available for Kotak Bank Tax Saving Fixed Deposit. The minimum lock-in period for Kotak Mahindra Bank Tax Saver FD is 5 years.
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