Kotak Mahindra Bank NRE FD Rates

Note: Rates as of 31 March 2026

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Kotak Mahindra Bank NRE FD Interest Rates 

Kotak NRE FD Interest Rates w.e.f  11 February 2026 

Book FDs at Interest rate upto 8.00% p.a

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Features & Benefits of Kotak Mahindra Bank NRE FDs

• Deposit Amount –  The minimum deposit amount required for investing is Rs. 50,000.

• Tenure –  1 to 10 years 

• Interest payout –  Interest will be compounded quarterly. 

• Repatriation –  Principal and interest amounts are fully repatriable.  

• Premature withdrawal –  Premature withdrawal is permitted. However, no interest will be paid if the deposit is withdrawn before completing one year.

• Renewal on Maturity – Auto- renewal facility is available.

Eligibility Criteria for Opening Kotak Bank NRE FD Account

As per FEMA guidelines, NRIs and PIOs are eligible to open an NRE account with Kotak Mahindra Bank, including Indian seafarers employed with overseas shipping companies, government employees holding diplomatic passports and students pursuing education abroad. 

Documents Required for Opening KotakBank NRE FD Account

Documents required for opening NRE FD account from Kotak bank branch in India and from overseas are as below: 

For NRIs

• A photocopy of Indian Passport (including details such as name, photograph, date and place of birth, specimen signature, date of issue and expiry and address).
•  A copy of a valid Visa/Work Permit/Residence Permit (this may be endorsed in the passport or issued separately).
• A proof of mailing address (either local or overseas, as selected in the account opening form).
• Latest passport-sized colour photograph.

For PIOs

• Photocopy of foreign passport (including details such as name, photograph, date and place of birth, specimen signature, date of issue and expiry, and address).
• Copy of a valid Visa / Work Permit / Residence Permit (this may be endorsed in the passport or issued separately).

Additional requirement (if place of birth is outside India):

Provide any one of the following:

• Copy of spouse’s Indian passport
• Copy of Indian passport held by self, parents, or grandparents (at any time)
• PIO Card
• OCI (Overseas Citizen of India) Card
• Proof of mailing address (either local or overseas, as selected in the account opening form)
• Latest passport-sized colour photograph

Attestation Requirements for NRIs & PIOs:

In addition to the above, the documents must be attested by any one of the following:

• An overseas bank official
• Any branch of an Indian Scheduled Commercial Bank with an overseas presence
• A Notary Public or equivalent authority
• The Indian diplomatic mission in the applicant’s country of residence

Self-Attestation Option for NRIs & PIOs:

If opting for self-attestation, all submitted documents must be signed by the respective account holder with the words “TRUE COPY.” Additionally, the following must be provided:

• A signed cheque in favour of Kotak Mahindra Bank A/c – (your name) from your existing bank account (in India or abroad)
• Any one of the following (original, not older than 3 months):       
  • Bank account statement
  • Credit card statement
  • Utility bill (electricity, piped gas, telephone, or water)

For Seafarers Employed on Foreign Vessels

When submitting documents at Kotak Bank branches in India:

• A photocopy of passport pages containing details such as name, photograph, date and place of birth, specimen signature, date of issue/expiry and address.
• A copy of a valid Transit Visa/Work Visa (this may be endorsed in the passport or issued separately) or a copy of the Continuous Discharge Certificate (CDC).
• The CDC must reflect the latest discharge stamp or last date of arrival in India or include a declaration stating that you are sailing for the first time.
• A valid copy of employment contract or an original letter issued on the letterhead of the agent/principal (with logo and address), containing the following details:
  • Name of the employee
  • Name and address of the principal shipping company
  • Name of the vessel and its flag
  • Name of the port
  • Contract commencement date
  • Contract tenure
  • Salary in foreign currency
  • Passport number
  • Merchant Navy Declaration (as per the format provided in the account opening form)
  • Proof of mailing address (Indian address only)
  • Latest passport-sized colour photograph

Premature Withdrawal 

Premature withdrawal of retail fixed deposits is permitted. However, interest will be calculated at the rate applicable on the date of deposit for the actual period the deposit remained with the bank or at the contracted rate, whichever is lower. No interest will be payable on fixed deposits withdrawn before the completion of one year.

Additionally, the bank will apply a penalty for premature withdrawal, as prescribed from time to time, for fixed deposits booked or renewed on or after 1st November 2012.

FAQs

What is the minimum and maximum tenure of an NRE fixed deposit?
You can invest in an NRE fixed deposit with Kotak Mahindra Bank for a minimum of 1 year and a maximum of 10 years.

Is the interest earned on an NRE fixed deposit taxable in India?
Yes, the interest earned on an NRE deposit is fully repatriable and tax-free in India.

Can I open an NRE Fixed Deposit jointly?
Yes, you can open an NRE Fixed Deposit jointly with another NRI/PIOs.

Can I make a premature withdrawal?
Yes, premature withdrawal is allowed. Interest will be paid at the lower of the applicable rate for the actual tenure or the contracted rate, along with applicable penalties. For deposits withdrawn in less than 1-year, the penalty is nil. If the deposits are withdrawn on completing 1 year or above, then premature withdrawal penalty of 1% will be applicable. 

What is the highest Kotak Mahindra Bank NRE FD interest rate?

The highest interest rate offered on Kotak Mahindra Bank NRE FD is 6.70% p.a for the tenure of 15 months to less than 3 years.