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Kotak Mahindra Bank FD Rates

Updated on November 17, 2019 , 2615 views

Kotak Mahindra Regular Fixed Deposit (FD) scheme is for people who have excess funds and want to stable returns out of it.

Fixed Deposit of FD refers to an investment avenue which is generally offered by banks and post office. In case of FD, people need to deposit a considerable amount as a one-time payment for a fixed time frame. Here, people get back their investment amount at the end of the tenure. However, people cannot break the FD during the tenure and if they try to break they need to pay some charges to the bank. The FD income earns interest on the investment. This interest income earned is taxable in the hands of investors.

Kotak Bank FD doesn’t just give you stable returns, financial safety and liquidity, but also the choice of when you want the interest on your principal – monthly or quarterly, depending upon your saving needs.

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Kotak Bank FD Interest Rates (Less than INR 1 Cr)

Here's a list of Kotak Mahindra FD Interest Rates for deposits less than INR 1 crore. The interest rates is for Domestic/NRO/NRE FDs.

Premature withdrawal allowed, interest rates w.e.f- 27th September 2018

Tenure Regular Senior Citizen
7 - 14 Days 3.50% 4.00%
15 - 30 Days 4.00% 4.50%
31 - 45 Days 5.00% 5.50%
46 - 90 Days 5.50% 6.00%
91 - 120 Days 6.00% 6.50%
121 - 179 days 6.25% 6.75%
180 Days 7.10% 7.60%
181 Days to 269 Days 7.10% 7.60%
270 Days 7.25% 7.75%
271 Days to 363 Days 7.25% 7.75%
364 Days 7.25% 7.75%
365 Days to 389 Days 7.40% 7.90%
390 Days (12 months 25 days) 7.50% 8.00%
391 Days - Less than 23 Months 7.50% 8.00%
23 Months 7.50% 8.00%
23 months 1 Day- less than 2 years 7.50% 8.00%
2 years- less than 3 years 7.25% 7.75%
3 years and above but less than 4 years 7.10% 7.60%
4 years and above but less than 5 years 7.00% 7.50%
5 years and above upto and inclusive of 10 years 6.50% 7.00%

Rates are subject to change from time to time

Kotak Bank FD Interest Rates (Above INR 1 Cr)

Interest Rates for Domestic/NRO/NRE Fixed Deposits effective from 3rd October 2018.

Maturity Period - Premature Withdrawal Allowed

Tenure INR 1 Crore - INR 5 Crores# INR 5 Crores - INR 10 crores# INR 10 Crores - INR 25 Crores# INR 25 Crores & Above#
7 - 14 Days 4.50% 4.25% 4.25% 4.25%
15 - 30 Days 4.75% 4.75% 4.75% 4.75%
31 - 45 Days 5.75% 6.25% 6.25% 6.25%
46 - 60 Days 6.25% 6.75% 6.75% 6.75%
61 - 90 Days 6.50% 6.75% 6.75% 6.75%
91 - 120 Days 6.75% 7.00% 7.00% 7.00%
121 - 179 Days 7.00% 7.00% 7.00% 7.00%
180 Days 7.10% 7.40% 7.40% 7.40%
181 Days to 270 Days 7.25% 7.15% 7.15% 7.15%
271 Days to 279 Days 6.25% 6.25% 6.25% 6.25%
280 Days to Less than 12 Months 7.30% 7.15% 7.15% 7.15%
12 months - less than 15 months 7.50% 7.80% 7.80% 7.80%
15 months - less than 18 months 7.50% 7.50% 7.50% 7.50%
18 months - less than 2 Years 7.50% 7.50% 7.50% 7.50%
2 years and above but less than 3 years 7.30% 7.00% 7.00% 7.00%
3 years and above but less than 4 years 7.00% 6.75% 6.75% 6.75%
4 years and above but less than 5 years 7.00% 6.75% 6.75% 6.75%
5 years and above upto & inclusive of 7 years 6.50% 6.00% 6.00% 6.00%

#Simple interest rate

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Kotak Bank FD Interest Rates- Premature Withdrawal Not Allowed

Here's a list of Interest Rates for Domestic/NRO/NRE Fixed Deposits

w.e.f 3rd October 2018

Tenure INR 1 Crore - INR 5 Crores# INR 5 Crores - INR 10 Crores# INR 10 Crores - INR 25 Crores# INR 25 Crores & Above#
91 - 120 Days NA 7.10% 7.10% 7.10%
121 - 179 Days NA 7.10% 7.10% 7.10%
180 Days NA 7.50% 7.50% 7.50%
181 Days to 270 Days 7.35% 7.25% 7.25% 7.25%
271 Days to 279 Days 6.35% 6.35% 6.35% 6.35%
280 Days to Less than 12 Months 7.40% 7.25% 7.25% 7.25%
12 months - less than 15 months 7.60% 7.90% 7.90% 7.90%
15 months - less than 18 months 7.60% 7.70% 7.70% 7.70%
18 months - less than 2 Years 7.60% 7.65% 7.65% 7.65%
2 years and above but less than 3 years 7.40% 7.10% 7.10% 7.10%

#Simple interest rate. Rates are subject to change from time to time

FD Penal Charge on Pre-mature

The penal charge on premature closure of FDs including partial closure has been fixed by the bank as below-

Tenure of Fixed Deposit Penalty
Less than 181 days Nil
181 days and above 0.50%

Interest will be paid at the rate prevailing on the date of deposit for the period the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms & Conditions of the bank.

Features of Kotak Bank Fixed Deposit

  • One can make a deposit of an amount as low as INR 5,000
  • The booking period of FD is from 7 days to 10 years
  • A user can choose to receive interest either monthly, quarterly, or keep it invested till the maturity
  • Kotak Bank customer can book FD scheme online through net banking
  • The bank offers nomination facility
  • Partial/premature withdrawal is allowed in the FD scheme

Kotak Bank FD Eligibility

The following groups and individuals are eligible to open an FD account with Kotak Mahindra Bank.

  • Individuals
  • Joint accounts for 2 or more individuals
  • Partnership firms
  • Trusts
  • Minors
  • Blind persons
  • Illiterate persons
  • Joint Hindu families
  • Limited companies and partnership firms
  • Municipalities and panchayats
  • Charitable, religious, and educational institutions
  • Associations, societies, clubs etc.
  • Sole proprietary concerns

Are you Looking for Alternative to Banks Savings Account in Mutual Funds?

Investors who are thinking of parking their money for the short term, you can also consider liquid Mutual Funds. Liquid Funds are an ideal alternative to FDs as they invest in low-risk debt and money market securities.

Here are some features of liquid funds you should know:

  • These funds come with no lock-in period
  • The money is invested in money market instruments like a certificate of deposits, commercial papers, treasury bills, and term deposits
  • You can exit from the scheme anytime you want. Also, the funds have no entry load and exit loads
  • The underlying assets have low maturity period and provide you low-interest rates
  • Most times, you may also get returns higher than bank Savings Account

Best Liquid Funds to Invest 2019

FundNAVNet Assets (Cr)1 MO (%)3 MO (%)6 MO (%)1 YR (%)3 YR (%)5 YR (%)2018 (%)
DHFL Pramerica Insta Cash Fund Growth ₹252.117
↑ 0.04
₹4680.41.43.2777.57.4
JM Liquid Fund Growth ₹53.0196
↑ 0.01
₹1,1090.41.43.16.977.57.4
Indiabulls Liquid Fund Growth ₹1,888.21
↑ 0.27
₹5450.41.43.16.86.97.57.3
Principal Cash Management Fund Growth ₹1,718.13
↑ 0.23
₹1970.41.42.96.43.75.5-1.8
Reliance Liquid Fund  Growth ₹4,729.22
↑ 0.75
₹28,8620.41.43.2777.47.4
Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 19 Nov 19

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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