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

After HDFC Bank and ICICI Bank, one of the most well-known private lenders, Kotak Mahindra Bank, has also entered the bandwagon on interest rate revisions for fixed deposits. According to the bank's official website, the new revised interest rates on Domestic / NRO / NRE Deposits and Recurring Deposits are in force from December 10, 2021.

Kotak Mahindra Bank Fixed Deposit Interest Rates

The general public will now receive interest rates of 2.50 percent, 2.75 percent, and 3.00 percent on deposits maturing in 7 - 30 days, 31 - 90 days, and 91 - 120 days, respectively, as a result of the most recent interest rate modification. Kotak Mahindra Bank is currently giving 3.20 percent and 4.25 percent interest rates on deposits maturing in 121 days to 179 days and 180 days to 269 days, respectively. The bank is currently giving interest rates of 4.40 percent and 4.50 percent on deposits maturing in 270 days to 363 days and 364 days. On deposits maturing in 365 days to 389 days and 390 days to less than 23 months, regular customers will now receive interest rates of 4.75 percent and 4.90 percent, respectively.

The bank is currently giving 5.00 percent, 5.10 percent, and 5.15 percent interest rates to the general public on deposits maturing in 23 months, 23 months 1 day-less than 2 years, and 2 years less than 3 years. Regular customers will now get a 5.30 percent interest rate on deposits maturing in 3 years and above, up to and including 10 years. Senior citizens will continue to get a 0.50 percent premium on their deposits across all tenors. Here are the bank's updated fixed deposit interest rates per annum for deposits of less than Rs 2 crore.

Tenor	Regular	Senior Citizen
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	3.20%	3.70%
180 Days	4.25%	4.75%
181 Days to 269 Days	4.25%	4.75%
270 Days	4.40%	4.90%
271 Days to 363 Days	4.40%	4.90%
364 Days	4.50%	5.00%
365 Days to 389 Days	4.75%	5.25%
390 Days (12 months 25 days)	4.90%	5.40%
391 Days - Less than 23 Months	4.90%	5.40%
23 Months	5.00%	5.50%
23 months 1 Day- less than 2 years	5.10%	5.60%
2 years- less than 3 years	5.15%	5.65%
3 years and above but less than 4 years	5.30%	5.80%
4 years and above but less than 5 years	5.30%	5.80%
5 years and above upto and inclusive of 10 years	5.30%	5.80%
Source: Bank Website

Kotak Mahindra Bank FD Rates For Deposits of Rs 2 Cr & Above

On deposits of Rs 2 Cr and above with a premature withdrawal option, Kotak Mahindra Bank is now offering the following interest rates effective from 10th December 2021.

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	3.90%	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	4.10%	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

Kotak Mahindra Bank Recurring Deposit Interest Rates

The bank is providing the following interest rates on recurring deposits made by Resident Individuals and HUFs only, effective date December 10, 2021.

Tenure	Interest Rate p.a. (%)	Senior Citizen Rates p.a. (%)
6 Months	4.25%	4.75%
9 Months	4.40%	4.90%
12 Months	4.75%	5.25%
15 Months	4.90%	5.40%
18 Months	4.90%	5.40%
21 Months	4.90%	5.40%
24 Months	5.15%	5.65%
27 Months	5.15%	5.65%
30 Months	5.15%	5.65%
33 Months	5.15%	5.65%
3 years - less than 4 years	5.30%	5.80%
4 years - less than 5 years	5.30%	5.80%
5 years - 10years	5.30%	5.80%
Source: Bank Website