Kotak Mahindra Bank Latest FD Rates Effective From Today, Offer Highest 7.70% On This Tenure

On April 10, 2023, the lKotak Mahindra Bank's latest fixed deposit (FD) interest rates became effective, according to the Kotak Mahindra Bank website. For deposits maturing in 7 days to 10 years, Kotak Mahindra Bank now offers interest rates that range from 2.75% to 7.20% for the general public and from 3.25% to 7.70% for senior citizens.

The maximum interest rate for deposits maturing in 390 days (12 months 25 days) to less than 2 years is 7.20% for non-senior citizens and 7.70% for senior citizens.

These Fixed deposits come with a premature withdrawal facility, which allows the depositor to close the FD before the date of maturity arrives.

Interest Rates for Domestic/NRO/NRE Fixed Deposits effective from 10th April 2023

Maturity Periods	Regular FD Rates	Senior Citizen* FD Rates
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	6.50%	7.00%
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	6.25%	6.75%
365 Days to 389 Days	7.00%	7.50%
390 Days (12 months 25 days)	7.20%	7.70%
391 Days - Less than 23 Months	7.20%	7.70%
23 Months	7.20%	7.70%
23 months 1 Day- less than 2 years	7.20%	7.70%
2 years- less than 3 years	7.00%	7.50%
3 years and above but less than 4 years	6.50%	7.00%
4 years and above but less than 5 years	6.25%	6.75%
5 years and above upto and inclusive of 10 years	6.20%	6.70%

Source - Kotak.com

According to the Kotak Mahindra Bank, "No interest will be payable for NRE TDs staying less than 1 year. For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest. Standalone Fixed Deposits of tenure 181 days and above linked to saving / current account will be treated as per the regular sweep deposit functionality and penal charge will be applicable as below mentioned in premature withdrawal penalty section."