Interest for 3 years
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 14 days||2.75%||3.25%|
|15 days - 1 month||3%||3.5%|
|1 month 1 day - 1 month 15 days||3.25%||3.75%|
|1 month 16 days - 2 months 29 days||3.5%||4%|
|2 months 30 days - 3 months 28 days||4%||4.5%|
|3 months 29 days - 5 months 26 days||4.25%||4.75%|
|5 months 27 days - 5 months 27 days||6.5%||7%|
|5 months 28 days - 11 months 28 days||6%||6.5%|
|11 months 29 days - 11 months 29 days||6.25%||6.75%|
|11 months 30 days - 1 year 23 days||7%||7.5%|
|1 year 24 days - 1 year 11 months 29 days||7.2%||7.7%|
|1 year 11 months 30 days - 2 years 11 months 29 days||7%||7.5%|
|2 years 11 months 30 days - 3 years 11 months 29 days||6.5%||7%|
|3 years 11 months 30 days - 4 years 11 months 28 days||6.25%||6.75%|
|4 years 11 months 29 days - 9 years 11 months 28 days||6.2%||6.7%|
Note: All interest rates shown above are as on 4th May 2023
Kotak Mahindra Bank Limited is part of the Kotak Group, which has a wide range of operations spanning commercial vehicle financing, consumer loans, corporate finance, and asset reconstruction. The bank was established in 1985 and is headquartered in Mumbai. The bank’s subsidiaries are involved in investment banking, equity broking, securities-based lending, and car finance. In 2003, Kotak Mahindra Finance Ltd. was India’s first non-banking finance company to convert into a commercial bank. In 2014, the bank merged with ING Vysa to become Kotak Mahindra Bank. As of March 31st 2022, Kotak bank has 1,700 branches across India and 2,705 ATMs. Kotak Bank Deposits stood at INR 3,10,087 crore as of March 2022. Kotak Bank’s Fixed Deposits have a AAA (Stable) Credit Rating.
2.75% - 7.2%
3.25% - 7.7%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 6.5%||For 5 years with interest of 6.2%|
|₹ 50,000||₹ 60,734||₹ 68,117|
|₹ 1 lakh||₹ 1,21,467||₹ 1,36,234|
|₹ 2 lakh||₹ 2,42,934||₹ 2,72,467|
|₹ 5 lakh||₹ 6,07,336||₹ 6,81,169|
|₹ 10 lakh||₹ 12,14,672||₹ 13,62,337|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 1,07,229||₹ 1,07,763|
|Total Investment Amount||₹ 1,00,000||₹ 1,00,000|
|Total Interest Gained||₹7,229||₹ 7,763|
|Bank Name||FD Interest Rates|
|DBS Bank FD||7.5% - 8%|
|Jammu And Kashmir Grameen Bank FD||6.5% - 7%|
|Central Bank of India FD||6.25% - 6.75%|
|IDBI Bank FD||6.5% - 7%|
|Madhyanchal Gramin Bank FD||5.3% - 5.8%|
|Mizoram Rural Bank FD||6.5% - 6.5%|
|Axis Bank FD||7% - 7.75%|
|Bangiya Gramin Vikash Bank FD||6.25% - 6.75%|
|Bandhan Bank FD||7.25% - 7.75%|
|LIC Housing Finance FD||7.75% - 8%|
The flexible & tax efficient alternative to FDs.
Kotak Mahindra Bank offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Kotak Mahindra Bank FDs is higher than their savings account. One can invest in Kotak Mahindra Bank FDs through both online and offline modes with a minimum investment of INR 10,000. This article covers Kotak Mahindra Bank FD, its features and interest rates in detail.
Following are the types of Kotak Bank fixed deposit schemes:
The regular fixed deposit account helps the depositor to earn higher returns when compared to holding the cash idle in the savings account.
Kotak Mahindra Tax Saving Fixed Deposit scheme investments quality for a tax deduction. Under Section 80 C of the Income Tax Act, depositors can claim a tax deduction for investments up to INR 1.5 lakhs.
The Kotak Mahindra Bank Senior Citizen FD scheme is specially designed for senior citizens of society.
One can open a Kotak Bank FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a Kotak Bank FD account through internet banking:
The following steps will guide in opening an FD account through Kotak Bank Mobile App:
To open a Kotak Bank FD account offline, one has to visit the nearest Kotak Bank branch. Fill the Kotak Bank FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, Kotak Bank will provide an FD receipt.
The documents required to open an FD in Kotak Bank are:
Only eligible investors can invest in Kotak Bank FD. The eligibility criteria to invest in Kotak Bank FD is:
Kotak Mahindra Bank offers recurring deposits to its depositors. Kotak Mahindra Bank recurring deposits have a minimum tenure of six months and a maximum tenure of 10 years. Depositors can open an RD account either by going to the Kotak Mahindra Bank branch or online using internet banking. The minimum investment in Kotak Mahindra Bank RD is INR 100, and the maximum investment is INR 25,000.
Only investment in Kotak Mahindra Bank Tax Saving FD qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other Kotak Mahindra Bank FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from Kotak Mahindra Bank FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from Kotak Mahindra Bank FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the Kotak Mahindra Bank, then the TDS rate will be 20%.
What is the highest Kotak Mahindra Bank FD rate today?
What is the highest interest rate on Kotak Mahindra Bank 1 year FD scheme?
What is Kotak Mahindra Bank FD scheme interest rate for 5 years?
How many years FD will double in Kotak Mahindra Bank?
What is Kotak Mahindra Bank FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in Kotak Mahindra Bank?
What are the available FD tenures in Kotak Mahindra Bank?
What is Kotak Mahindra Bank FD ROI for 10 lakh deposit for 1 year?
The interest from the Kotak Mahindra Bank FD calculator for 10 lakh deposit for 1 year will be INR 72,290. The maturity value will be INR 10,72,290. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Kotak Mahindra Bank?
How many FDs can be opened in Kotak Mahindra Bank?