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Kotak Mahindra Bank Revises Interest Rates On Fixed Deposit: Latest Rates Here

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Kotak Mahindra Bank Limited, India's leading private sector lender offers a range of fixed deposit schemes such as regular deposits, tax saving deposits, senior citizens deposits, and so on to its debt investors. With a minimum deposit amount of Rs, 5000 one can open a fixed deposit account at Kotak Mahindra Bank to witness a plethora of benefits such as, attractive and assured returns, flexible maturity period of 7 to 10 years, flexible interest withdrawal option, online account opening and managing option, overdraft facility against fixed deposit, premature withdrawal facility, etc. Despite all such features, let me make you aware that the bank has revised interest rates on its fixed deposits which are now in force from 8th September 2021. To know more about the new rates, please keep on reading to make a conclusion whether to invest or not.

 

Kotak Mahindra Bank Regular Fixed Deposit Rates
 

Kotak Mahindra Bank Regular Fixed Deposit Rates

For a deposit amount of less than Rs 2 Cr, regular customers will get an interest rate of 2.50% and 2.75% for deposits maturing in 7 to 30 days and 31 to 90 days. For deposits maturing in 91 - 120 Days and 121 - 179 days, the bank is now offering an interest rate of 3.00% and 3.25%. For FDs maturing in 180 days to 269 days and 270 days to 364 days, Kotak Mahindra Bank is offering an interest rate of 4.25% and 4.40%. The bank is now promising an interest rate of 4.50% and 4.75% on FDs maturing in 365 Days to 389 Days and 390 Days to less than 23 months.

For domestic term deposits maturing in 23 months to less than 2 years and 2 years to less than 3 years, the bank is now promising an interest rate of 4.90% and 5.00% respectively. Kotak Mahindra Bank is now promising an interest rate of 5.10% on deposits maturing in 3 years and above but less than 4 years. On long-term deposits of 4 years and above but less than 5 years and 5 years and above upto and inclusive of 10 years, the bank is offering an interest rate of 5.20% and 5.25% post latest revision.

TenorInterest Rate In % (p.a.)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 3.25% 3.25%
180 Days 4.25% 4.25%
181 Days to 269 Days 4.25% 4.30%
270 Days 4.40% 4.45%
271 Days to 363 Days 4.40% 4.45%
364 Days 4.40% 4.45%
365 Days to 389 Days 4.50% 4.58%
390 Days (12 months 25 days) 4.75% 4.84%
391 Days - Less than 23 Months 4.75% 4.84%
23 Months 4.90% 4.99%
23 months 1 Day- less than 2 years 4.90% 4.99%
2 years- less than 3 years 5.00% 5.09%
3 years and above but less than 4 years 5.10% 5.20%
4 years and above but less than 5 years 5.20% 5.30%
5 years and above upto and inclusive of 10 years 5.25% 5.35%
Source: Bank Website, W.e.f. 8th September 2021

Kotak Mahindra Bank FD Rates For Senior Citizens

Kotak Mahindra Bank FD Rates For Senior Citizens

Senior citizens will continue to get the following interest rates on their deposits of less than Rs 2 Cr.

TenorInterest Rate In % (p.a.)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 3.75% 3.75%
180 Days 4.75% 4.75%
181 Days to 269 Days 4.75% 4.81%
270 Days 4.90% 4.96%
271 Days to 363 Days 4.90% 4.96%
364 Days 4.90% 4.96%
365 Days to 389 Days 5.00% 5.09%
390 Days (12 months 25 days) 5.25% 5.35%
391 Days - Less than 23 Months 5.25% 5.35%
23 Months 5.40% 5.51%
23 months 1 Day- less than 2 years 5.40% 5.51%
2 years- less than 3 years 5.50% 5.61%
3 years and above but less than 4 years 5.60% 5.72%
4 years and above but less than 5 years 5.70% 5.82%
5 years and above upto and inclusive of 10 years 5.75% 5.88%

Fixed Deposits Interest Rates for Domestic / NRO / NRE effective from 8th September 2021 (For Rs 2 Cr and above)

Fixed Deposits Interest Rates for Domestic / NRO / NRE effective from 8th September 2021 (For Rs 2 Cr and above)

Maturity PeriodRs. 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% 3.30% 3.30% 3.30%
121 - 179 Days 3.00% 3.35% 3.35% 3.35%
180 Days 3.60% 3.50% 3.50% 3.50%
181 Days to 270 Days 3.60% 3.50% 3.50% 3.50%
271 Days to 279 Days 2.80% 2.75% 2.75% 2.75%
280 Days to Less than 12 Months 3.75% 3.65% 3.65% 3.65%
12 months - less than 15 months 3.90% 3.70% 3.70% 3.70%
15 months - less than 18 months 4.00% 3.95% 3.95% 3.95%
18 months - less than 2 Years 4.10% 4.10% 4.10% 4.10%
2 years and above but less than 3 years 4.40% 4.25% 4.25% 4.25%
3 years and above but less than 4 years 4.50% 4.50% 4.50% 4.50%
4 years and above but less than 5 years 4.50% 4.50% 4.50% 4.50%
5 years and above upto & inclusive of 7 years 4.50% 4.50% 4.50% 4.50%

Fixed Deposits Interest Rates for Domestic / NRO / NRE (Premature Withdrawal Not Allowed)

Fixed Deposits Interest Rates for Domestic / NRO / NRE (Premature Withdrawal Not Allowed)

Maturity PeriodRs. 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
91 - 120 Days NA 3.40% 3.40% 3.40%
121 - 179 Days NA 3.45% 3.45% 3.45%
180 Days NA 3.60% 3.60% 3.60%
181 Days to 270 Days 3.70% 3.60% 3.60% 3.60%
271 Days to 279 Days 2.90% 2.85% 2.85% 2.85%
280 Days to Less than 12 Months 3.85% 3.75% 3.75% 3.75%
12 months - less than 15 months 4.00% 3.80% 3.80% 3.80%
15 months - less than 18 months 4.10% 4.05% 4.05% 4.05%
18 months - less than 2 Years 4.20% 4.20% 4.20% 4.20%
2 years and above but less than 3 years 4.50% 4.35% 4.35% 4.35%

Story first published: Friday, September 10, 2021, 19:09 [IST]
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