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Kotak Mahindra Bank Revises Interest Rates On FD, Check New Rates Here

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Kotak Mahindra Bank has adjusted the interest rate on fixed deposits (FDs) for amounts more than Rs 2 crore to Rs 25 crore and beyond, with effect from May 24, 2021. Kotak Mahindra Bank provides interest rates of 2.5 per cent, 2.75 per cent, and 3.00 per cent on FDs maturing in 7 to 30 days, 31 to 90 days, and 91 to 179 days, respectively. Kotak Mahindra Bank gives a 3.80% return on term deposits maturing in 280 days to less than 12 months. The bank is now giving 4.00 per cent and 4.15 per cent interest rates on FDs expiring in 12 months - less than 15 months and 15 months - less than 18 months. The bank is currently offering interest rates of 4.25 per cent and 4.50 per cent for deposits maturing in 18 months - less than 2 years and 2 years and above but less than 3 years. Similarly, the bank is currently offering 4.60 per cent and 4.75 per cent on FDs maturing in 3 years and above but less than 4 years and 4 years and above but less than 5 years, respectively. Following the most recent revision, the bank is currently offering the maximum interest rate of 5.00 per cent on FDs maturing in 5 years and above, up to and including 7 years. These rates are effective from 24 May 2021.

 

Kotak Mahindra Bank FD Rates
 

Kotak Mahindra Bank FD Rates

TenureRs 2 Cr & above but below Rs. 5 CrRs. 5 Cr & above but below Rs. 10 CrRs. 10 Cr & above but below 25 CrRs. 25 Cr & above
7 - 14 Days 2.50% 2.75% 2.75% 2.75%
15 - 30 Days 2.50% 2.75% 2.75% 2.75%
31 - 45 Days 2.75% 3.00% 3.00% 3.00%
46 - 60 Days 2.75% 3.00% 3.00% 3.00%
61 - 90 Days 3.00% 3.25% 3.25% 3.25%
91 - 120 Days 3.00% 3.35% 3.35% 3.35%
121 - 179 Days 3.00% 3.50% 3.50% 3.50%
180 Days 3.75% 3.55% 3.55% 3.55%
181 Days to 270 Days 3.75% 3.65% 3.65% 3.65%
271 Days to 279 Days 2.90% 2.75% 2.75% 2.75%
280 Days to Less than 12 Months 3.80% 3.65% 3.65% 3.65%
12 months - less than 15 months 4.00% 3.85% 3.85% 3.85%
15 months - less than 18 months 4.15% 4.10% 4.10% 4.10%
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% 4.25% 4.25% 4.25%
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 4.75% 4.50% 4.50% 4.50%
5 years and above up to & inclusive of 7 years 5.00% 4.50% 4.50% 4.50%
Source: Kotak Mahindra Bank, W.e.f. 24th May 2021

Kotak Mahindra Bank FD Rates (Below Rs 2 Cr)

Kotak Mahindra Bank FD Rates (Below Rs 2 Cr)

Kotak Mahindra Bank provides interest rates of 2.5 per cent, 2.75 per cent, and 3.25 per cent for FDs maturing in 7 to 30 days, 31 to 90 days, and 91 to 179 days, respectively. Kotak Mahindra Bank provides 4.40 per cent interest on term deposits that mature in 180 days to less than a year. The bank offers 4.50 per cent on deposits with a maturity period of one year to 389 days. The bank will pay 4.80 per cent on FDs maturing in 390 days to less than 23 months. Kotak Mahindra Bank would provide a 5% interest rate on deposits maturing in 23 months to less than 3 years. The bank will pay 5.10 per cent on term deposits with a maturity period of three years or more but less than four years. Kotak Mahindra Bank pays a 5.25 per cent interest rate on deposits with a maturity period of four years or more but less than five years. The bank offers 5.30 per cent on FDs maturing in 5 years and above, up to and including 10 years. Senior folks continue to get interest rates that are 50 basis points higher than the regular customers. On FDs maturing in 7 days to 10 years, the bank provides interest rates ranging from 3% to 5.8%. The current Kotak Mahindra Bank FD rates (below Rs 2 crore) are listed below and are effective as of April 26, 2021.

TenureRegular FD RatesSenior Citizen FD Rates
7 - 14 Days 2.50% 3.00%
15 - 30 Days 2.50% 3.00%
31 - 45 Days 2.75% 3.25%
46 - 90 Days 2.75% 3.25%
91 - 120 Days 3.00% 3.50%
121 - 179 days 3.25% 3.75%
180 Days 4.40% 4.90%
181 Days to 269 Days 4.40% 4.90%
270 Days 4.40% 4.90%
271 Days to 363 Days 4.40% 4.90%
364 Days 4.40% 4.90%
365 Days to 389 Days 4.50% 5.00%
390 Days (12 months 25 days) 4.80% 5.30%
391 Days - Less than 23 Months 4.80% 5.30%
23 Months 5.00% 5.50%
23 months 1 Day- less than 2 years 5.00% 5.50%
2 years- less than 3 years 5.00% 5.50%
3 years and above but less than 4 years 5.10% 5.60%
4 years and above but less than 5 years 5.25% 5.75%
5 years and above up to and inclusive of 10 years 5.30% 5.80%
Source: Kotak Mahindra Bank, W.e.f. 26th April 2021

Note

Note

HDFC Bank, the leading private sector lender, has also changed its FD interest rates with effect from May 21, 2021. On deposits maturing between 7 days and 10 years, HDFC Bank currently provides interest rates ranging from 2.50 per cent to 5.50 per cent. Senior folks continue to get interest rates that are 50 basis points higher than the general public. Senior folks will get interest rates ranging from 3% to 6.25 per cent on FDs with terms ranging from 7 days to 10 years. HDFC Senior Citizen Care is a special FD scheme offered by HDFC Bank for senior citizens. On these deposits, the bank gives a 75 basis point higher interest rate. The interest rate on a fixed deposit made by a senior citizen under the HDFC Bank Senior Citizen Care FD would be 6.25 per cent. Click here for more details.

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