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Kotak Mahindra Bank Modifies Interest Rates On Fixed Deposits (W.e.f. 29.12.2021)
The private sector lender Kotak Mahindra Bank has revised its interest rates on Domestic, NRO, and NRE fixed deposits of less than Rs. 2 Cr. According to the official website of the bank, the revised rates are effective as of 29th December 2021. The bank has also changed its interest rates on fixed deposits of Rs. 2 Crore to Rs. 25 Cr and above. Here we will discuss the new interest rates of the bank on various fixed deposits.
Kotak Mahindra Bank Domestic, NRO, NRE Fixed Deposits Interest Rates For Regular Customers
With effect from December 29, 2021, the bank is now offering a 2.50 percent interest rate on deposits maturing in 7 to 15 days and a 2.75 percent interest rate on deposits maturing in 31 to 90 days. On deposits maturing in 91-120 days and 121-179 days, Kotak Mahindra Bank is currently providing interest rates of 3.00 percent and 3.20 percent, respectively. Deposits maturing in 180 days and 181 days to 363 days will return 4.25 percent and 4.40 percent interest, respectively. Term deposits maturing in 364 Days, 365 Days to 389 Days, and 390 Days to 23 Months will fetch an interest rate of 4.50%, 4.75% and 5.00% respectively. Kotak Mahindra Bank is now offering an interest rate of 5.10%, 5.15% and 5.30% to the general public on their deposits of less than Rs. 2 Cr maturing in 23 months 1 Day- less than 2 years, 2 years- less than 3 years and 3 years to 10 years.
| Maturity | Interest Rates Per Annum | Annualised Yield |
|---|---|---|
| 7 - 14 Days | 2.50% | 2.50% |
| 15 - 30 Days | 2.50% | 2.50% |
| 31 - 45 Days | 2.75% | 2.75% |
| 46 - 90 Days | 2.75% | 2.75% |
| 91 - 120 Days | 3.00% | 3.00% |
| 121 - 179 days | 3.20% | 3.20% |
| 180 Days | 4.25% | 4.25% |
| 181 Days to 269 Days | 4.40% | 4.45% |
| 270 Days | 4.40% | 4.45% |
| 271 Days to 363 Days | 4.40% | 4.45% |
| 364 Days | 4.50% | 4.55% |
| 365 Days to 389 Days | 4.75% | 4.84% |
| 390 Days (12 months 25 days) | 5.00% | 5.09% |
| 391 Days - Less than 23 Months | 5.00% | 5.09% |
| 23 Months | 5.00% | 5.09% |
| 23 months 1 Day- less than 2 years | 5.10% | 5.20% |
| 2 years- less than 3 years | 5.15% | 5.25% |
| 3 years and above but less than 4 years | 5.30% | 5.41% |
| 4 years and above but less than 5 years | 5.30% | 5.41% |
| 5 years and above upto and inclusive of 10 years | 5.30% | 5.41% |
| Source: Bank Website. Effective from 29th December 2021 |
Kotak Mahindra Bank Domestic, NRO, NRE Fixed Deposits Interest Rates For Senior Citizens
Senior citizens will continue to get an additional rate of 0.50% over and above the card rate applicable to non-senior citizens across all the tenors. On deposits of less than Rs. 2 Cr, senior citizens will get the following interest rates as of now.
| Maturity | Interest Rates Per Annum | Annualised Yield |
|---|---|---|
| 7 - 14 Days | 3.00% | 3.00% |
| 15 - 30 Days | 3.00% | 3.00% |
| 31 - 45 Days | 3.25% | 3.25% |
| 46 - 90 Days | 3.25% | 3.25% |
| 91 - 120 Days | 3.50% | 3.50% |
| 121 - 179 days | 3.70% | 3.70% |
| 180 Days | 4.75% | 4.75% |
| 181 Days to 269 Days | 4.90% | 4.96% |
| 270 Days | 4.90% | 4.96% |
| 271 Days to 363 Days | 4.90% | 4.96% |
| 364 Days | 5.00% | 5.06% |
| 365 Days to 389 Days | 5.25% | 5.35% |
| 390 Days (12 months 25 days) | 5.50% | 5.61% |
| 391 Days - Less than 23 Months | 5.50% | 5.61% |
| 23 Months | 5.50% | 5.61% |
| 23 months 1 Day- less than 2 years | 5.60% | 5.72% |
| 2 years- less than 3 years | 5.65% | 5.77% |
| 3 years and above but less than 4 years | 5.80% | 5.93% |
| 4 years and above but less than 5 years | 5.80% | 5.93% |
| 5 years and above upto and inclusive of 10 years | 5.80% | 5.93% |
| Source: Bank Website. Effective from 29th December 2021 |
Kotak Mahindra Bank Interest Rates On Domestic / NRO / NRE Deposits of Rs. 2 Cr to Rs. 25 Cr & Above
Kotak Mahindra Bank is giving the following interest rates on fixed deposits (with premature withdrawal option) of Rs. 2 Cr to Rs. 25 Cr & Above maturing in 7 days to 5 years and above upto and including 7 years.
| Tenor | Rs. 2 Cr & above but below Rs. 5 Cr | Rs. 5 Cr & above but below Rs. 10 Cr | Rs. 10 Cr & above but below 25 Cr | Rs. 25 Cr & above |
|---|---|---|---|---|
| 7 - 14 Days | 2.50% | 2.75% | 2.75% | 2.75% |
| 15 - 30 Days | 2.50% | 2.90% | 2.90% | 2.90% |
| 31 - 45 Days | 2.75% | 3.10% | 3.10% | 3.10% |
| 46 - 60 Days | 2.75% | 3.10% | 3.10% | 3.10% |
| 61 - 90 Days | 3.00% | 3.25% | 3.25% | 3.25% |
| 91 - 120 Days | 3.00% | 3.30% | 3.30% | 3.30% |
| 121 - 179 Days | 3.00% | 3.60% | 3.60% | 3.60% |
| 180 Days | 4.00% | 3.75% | 3.75% | 3.75% |
| 181 Days to 270 Days | 4.00% | 4.00% | 4.00% | 4.00% |
| 271 Days to 279 Days | 2.90% | 2.90% | 2.90% | 2.90% |
| 280 Days to Less than 12 Months | 4.00% | 4.05% | 4.05% | 4.05% |
| 12 months - less than 15 months | 4.15% | 4.05% | 4.05% | 4.05% |
| 15 months - less than 18 months | 4.15% | 4.15% | 4.15% | 4.15% |
| 18 months - less than 2 Years | 4.25% | 4.25% | 4.25% | 4.25% |
| 2 years and above but less than 3 years | 4.50% | 4.30% | 4.30% | 4.30% |
| 3 years and above but less than 4 years | 4.60% | 4.50% | 4.50% | 4.50% |
| 4 years and above but less than 5 years | 4.60% | 4.50% | 4.50% | 4.50% |
| 5 years and above upto & inclusive of 7 years | 4.60% | 4.50% | 4.50% | 4.50% |
| Source: Bank Website. Effective from 29th December 2021 |
Kotak Mahindra Bank Interest Rates On Domestic / NRO / NRE Deposits of Rs. 2 Cr to Rs. 25 Cr & Above (Without premature withdrawal)
The bank is now giving the below-listed interest rates on Domestic / NRO / NRE Deposits of Rs. 2 Cr to Rs. 25 Cr & Above (Without Premature Withdrawal).
| Tenor | Rs. 2 Cr & above but below Rs. 5 Cr | Rs. 5 Cr & above but below Rs. 10 Cr | Rs. 10 Cr & above but below 25 Cr | Rs. 25 Cr & above |
|---|---|---|---|---|
| 91 - 120 Days | NA | 3.45% | 3.45% | 3.45% |
| 121 - 179 Days | NA | 3.75% | 3.75% | 3.75% |
| 180 Days | NA | 3.90% | 3.90% | 3.90% |
| 181 Days to 270 Days | 4.20% | 4.20% | 4.20% | 4.20% |
| 271 Days to 279 Days | 3.10% | 3.10% | 3.10% | 3.10% |
| 280 Days to Less than 12 Months | 4.20% | 4.25% | 4.25% | 4.25% |
| 12 months - less than 15 months | 4.35% | 4.25% | 4.25% | 4.25% |
| 15 months - less than 18 months | 4.35% | 4.35% | 4.35% | 4.35% |
| 18 months - less than 2 Years | 4.45% | 4.45% | 4.45% | 4.45% |
| 2 years and above but less than 3 years | 4.70% | 4.50% | 4.50% | 4.50% |
| Source: Bank Website. Effective from 29th December 2021 |
