Kotak Mahindra Bank, one of India’s fastest-growing private banks, offers fixed deposits (FDs) starting from just ₹5,000. Interest rates on these FDs vary based on a few factors, including:
- Investment period
- Deposit type (regular or special schemes)
- Investor’s age (senior citizen benefits)
Below are the latest applicable rates and important details to help you decide.
Kotak Mahindra Bank FD Rates for Deposits Less Than ₹2 Crores
The current interest rates for Kotak Mahindra Bank fixed deposits with premature withdrawal facility are shown by maturity period and investor category:
| Maturity Periods | For Regular Investors (in p.a.) | For Senior Citizens (in p.a.) |
|---|---|---|
| 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 | 7.00% | 7.50% |
| 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 | 6.50% | 7.00% |
| 365 Days to 389 Days | 7.10% | 7.60% |
| 390 Days (12 months 24 days) | 7.15% | 7.65% |
| 391 Days – Less than 23 Months | 7.20% | 7.70% |
| 23 Months | 7.25% | 7.80% |
| 23 Months 1 Day – Less than 2 Years | 7.25% | 7.80% |
| 2 Years – Less than 3 Years | 7.15% | 7.65% |
| 3 Years and Above but Less than 4 Years | 7.00% | 7.60% |
| 4 Years and Above but Less than 5 Years | 7.00% | 7.60% |
| 5 Years and Above Up to and Inclusive of 10 Years | 6.20% | 6.70% |
Key points to remember:
- Rates are subject to change based on market and internal bank decisions. Verify current rates before investing.
- Separate rates may apply for deposits above ₹2 crores; check the bank’s official rate schedule for large deposits.
Benefits of Choosing Kotak Mahindra Bank FDs
Kotak Mahindra Bank fixed deposits offer several advantages that make them a viable option for conservative investors:
- Attractive returns and safety
FDs earn competitive interest and Kotak’s deposits carry high safety ratings from credit agencies, making them suitable for risk-averse savers.
- Flexible interest payout options
You can choose monthly or quarterly interest payouts if you need regular income. Alternatively, a cumulative FD compounds interest and pays the total at maturity, which is useful for long-term goals.
- Wide range of tenures
Tenures range from 7 days to 10 years, allowing you to match short-term liquidity needs or long-term savings plans.
- Liquidity and borrowing options
Partial or full premature withdrawal is possible under the bank’s terms, though penalties or adjusted rates may apply. You can also take an overdraft or loan against your FD for short-term cash needs without breaking the deposit.
With these features, Kotak FDs can serve both emergency and planned saving objectives. If you need funds without breaking an FD, consider bank lending solutions that let you borrow against your deposit.
FAQs on Fixed Deposit Rates of Kotak Mahindra Bank
What is the interest rate for FDs at Kotak?
Rates vary by tenure and investor category; they can go up to around 7.70% for deposits up to ₹2 crores, depending on the specific term chosen.
How can I get 6% interest at Kotak Mahindra Bank?
Interest depends on the selected term. For example, currently a tenure in the range of about 181 to 263 days offers approximately 6.00% for regular investors. Check the exact tenure bands before investing.
What is the maximum FD amount at Kotak Bank?
There is no fixed upper limit for deposits, but interest rates and terms can differ for very large deposits, so consult the bank for bespoke rates above ₹2 crores.
What is the interest rate for an FD of ₹1 lakh at Kotak Mahindra Bank?
For a ₹1 lakh deposit, rates follow the published tenure-based schedule and range approximately from 2.75% to 7.80% depending on the chosen term and whether you qualify for senior citizen rates.
Is Kotak Bank safe for fixed deposits?
Kotak Mahindra Bank is generally considered a safe option for FDs due to strong credit ratings and regulatory protection. Deposits are also covered by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to applicable limits.
Can a Kotak FD be withdrawn?
Yes, premature withdrawals are allowed but may attract penalties or lead to a revised interest rate. Review the bank’s premature withdrawal policy before locking in funds.