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Kotak Mahindra Bank FD Interest Rates 2024
Kotak Mahindra Bank FD Rates on Domestic/NRO/NRE deposits of less than Rs 2 crore w.e.f. 27th February 2024
| Tenure | Interest Rates (% p.a.) | |
| Regular Individuals | Senior Citizens | |
| 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) | 7.40 | 7.90 |
| 391 Days to less than 23 Months | 7.40 | 7.90 |
| 23 Months | 7.30 | 7.85 |
| 23 months 1 Day to less than 2 years | 7.30 | 7.85 |
| 2 years to 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 upto and inclusive of 10 years | 6.20 | 6.70 |
Note: 1. Additional senior citizen’s interest rates will not be applicable for NRO or NRE Fixed Deposits
- The minimum tenure for an NRE deposit is 365 days (1 year)
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Kotak Mahindra Bank Tax Saver Deposit
| Tenure | Interest Rates (% p.a.) | |
| Regular Citizens | Senior Citizens | |
| 5 years to 10 years | 6.20 | 6.70 |
Note: Interest rates as of 1st May 2024
Comparison of Top 20 Scheduled Banks based on FD Rates
Banks | Highest FD rate (% p.a.) | 1-year FD rate (% p.a.) | 3-year FD rate (% p.a.) | 5-year FD rate (% p.a.) | Additional interest rate for senior citizens (% p.a.) |
| Unity Small Finance Bank | 9.00 | 7.85 | 8.15 | 8.15 | 0.50 |
| North East Small Finance Bank | 9.00 | 7.00 | 9.00 | 6.25 | 0.50 |
| Suryoday Small Finance Bank | 8.60 | 8.05 | 8.60 | 8.25 | 0.50 |
| Shivalik Small Finance Bank | 8.55 | 6.00 | 7.50 | 6.50 | 0.50 |
| Utkarsh Small Finance Bank | 8.50 | 8.00 | 8.50 | 7.75 | 0.60 |
| Jana Small Finance Bank | 8.25 | 8.25 | 8.25 | 8.20 | 0.50 |
| Ujjivan Small Finance Bank | 8.25 | 8.25 | 7.20 | 7.20 | 0.50 |
| ESAF Small Finance Bank | 8.25 | 6.00 | 6.75 | 6.25 | 0.50 |
| Equitas Small Finance Bank | 8.25 | 8.20 | 8.00 | 7.25 | 0.50 |
| SBM Bank | 8.25 | 7.05 | 7.30 | 7.75 | 0.50 |
| RBL Bank | 8.10 | 7.50 | 7.50 | 7.10 | 0.50 |
| DCB Bank | 8.05 | 7.10 | 7.55 | 7.40 | 0.50 |
| Bandhan Bank | 8.05 | 8.05 | 7.25 | 5.85 | 0.50-0.75 |
| AU Small Finance Bank | 8.00 | 7.25 | 7.50 | 7.25 | 0.50 |
| IDFC First Bank | 7.90 | 6.50 | 6.80 | 6.75 | 0.50 |
| YES Bank | 7.75 | 7.25 | 7.25 | 7.25 | 0.50-0.75 |
| Induslnd Bank | 7.99 | 7.75 | 7.25 | 7.25 | 0.50 |
| Central Bank of India | 7.45 | 7.00 | 6.00 | 5.75 | 0.50 |
| Punjab & Sind | 7.45 | 6.30 | 6.00 | 6.00 | 6.00 |
| HDFC Bank | 7.40 | 6.60 | 7.00 | 7.00 | 0.50 |
The rates are updated as of 1st May 2024
The actual maturity value of your FD depends on factors like your Kotak Mahindra Bank FD interest rates, tenure, principal amount invested and the type of FD chosen by you, i.e. cumulative or non-cumulative FD.
Under non-cumulative FD, Kotak Mahindra Bank offers monthly and quarterly interest payout options under its traditional and tax saving plans. In the quarterly interest pay-out option, the interest amount is credited to the current/saving account of the depositor on a quarterly basis. In the monthly pay-out option, the total interest amount is paid out to the depositor each month at a discounted rate. Prospective depositors can also choose to keep the interest amount invested in their Kotak Mahindra Bank Cumulative FD till maturity by opting for reinvestment/cumulative FD option.
Kotak Mahindra Bank FD monthly payout option is best suited for depositors who need fixed monthly income on a regular basis to meet their expenses. Depositors who opt for the cumulative investment option can benefit from compounding of the interest component as it remains invested in the term deposit account and starts generating interest income as well.
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Advantages of Using Kotak Mahindra Bank FD Calculator
Using the online Kotak Mahindra Bank FD Calculator come with the following benefits:
Free of Cost
FD applicants can use the Kotak Mahindra Bank FD calculator tool more than once, free of charge. They can use it to compare and analyse the returns for different combinations of FD interest rates, principal amount and tenures.
Saves Time
Calculating the total maturity value manually can be laborious and time consuming, which can also lead to human errors. FD calculator uses an automated calculation process to help save time while providing relatively error free results.
Know Your Returns in Advance
You can fetch relatively accurate estimates of your total earnings by using the Kotak Mahindra Bank FD calculator. Thus, FD applicants can use the Kotak Mahindra Bank FD calculator to make prudent financial decisions based on their cash flows and liquidity requirements before investing in fixed deposits.
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