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Kotak Mahindra Bank Changes Interest Rates On FD & RD: Latest Rates Here

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Kotak Mahindra Bank today has revised interest rates on its fixed deposit and recurring deposit account. After the most recent revision, this private sector bank is now promising a higher interest rate of 5.25% to the general public and 5.75% to senior citizens on deposits maturing in 5 years and above upto and inclusive of 10 years. With effect from 30th September 2021, Kotak Mahindra Bank is offering the following interest rates on recurring and fixed deposits of less than Rs 2 Cr.

 

Kotak Mahindra Bank Recurring Deposit Interest Rates

Kotak Mahindra Bank Recurring Deposit Interest Rates

On recurring deposits, Kotak Mahindra Bank is offering the below-mentioned interest rates to resident individuals and HUF only.

TenureInterest Rate p.a. (%)Senior Citizen Rates p.a. (%)
6 Months4.25%4.75%
9 Months4.40%4.90%
12 Months4.50%5.00%
15 Months4.75%5.25%
18 Months4.75%5.25%
21 Months4.75%5.25%
24 Months5.00%5.50%
27 Months5.00%5.50%
30 Months5.00%5.50%
33 Months5.00%5.50%
3 years - less than 4 years5.20%5.70%
4 years - less than 5 years5.20%5.70%
5 years - 10years5.25%5.75%
Source: Bank Website, Recurring Deposit rates effective from 30th September-2021

Kotak Mahindra Bank Fixed Deposit Interest Rates
 

Kotak Mahindra Bank Fixed Deposit Interest Rates

For a deposit amount of less than Rs 2 Cr with a premature withdrawal option, Kotak Mahindra Bank is now promising the below-listed interest rates on fixed deposits.

TenureInterest Rate p.a. (%)Annualised YieldSenior Citizen Rates p.a. (%)Annualised Yield
7 - 14 Days2.50%2.50%3.00%3.00%
15 - 30 Days2.50%2.50%3.00%3.00%
31 - 45 Days2.75%2.75%3.25%3.25%
46 - 90 Days2.75%2.75%3.25%3.25%
91 - 120 Days3.00%3.00%3.50%3.50%
121 - 179 days3.20%3.20%3.70%3.70%
180 Days4.20%4.20%4.70%4.70%
181 Days to 269 Days4.25%4.30%4.75%4.81%
270 Days4.40%4.45%4.90%4.96%
271 Days to 363 Days4.40%4.45%4.90%4.96%
364 Days4.40%4.45%4.90%4.96%
365 Days to 389 Days4.50%4.58%5.00%5.09%
390 Days (12 months 25 days)4.75%4.84%5.25%5.35%
391 Days - Less than 23 Months4.75%4.84%5.25%5.35%
23 Months4.90%4.99%5.40%5.51%
23 months 1 Day- less than 2 years4.90%4.99%5.40%5.51%
2 years- less than 3 years5.00%5.09%5.50%5.61%
3 years and above but less than 4 years5.20%5.30%5.70%5.82%
4 years and above but less than 5 years5.20%5.30%5.70%5.82%
5 years and above upto and inclusive of 10 years5.25%5.35%5.75%5.88%
Source: Bank Website, INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 30th September 2021

Kotak Mahindra Bank Interest Rates On Savings Account

Kotak Mahindra Bank Interest Rates On Savings Account

Daily balances in Savings Accounts up to Rs. 1 lakh will fetch 3.50 percent p.a. interest as of September 20, 2021. The interest rate on daily savings account balances above Rs. 1 lakh has been raised to 3.50 percent per annum. Only Resident Accounts are eligible for these interest rates.

NatureNormalSenior Citizen
A. Domestic (W.e.f. Sep 20, 2021)3.50% p.a.3.50% p.a.
B. Basic Savings Bank Deposit Account/Small Account (W.e.f. Sep 20, 2021)3.50% p.a.3.50% p.a.
C. Non Resident (NRE/NRO)3.50% p.a.3.50% p.a.
Source: Bank Website, (W.e.f. Sep 20, 2021)

Story first published: Thursday, September 30, 2021, 16:31 [IST]
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