Kotak Mahindra Bank changes interest rates on FD below Rs. 2 Cr (Wef 27.01.22)

Kotak Mahindra Bank Fixed interest rates on deposits for regular customers

Regular customers would receive an interest rate of 2.50% on deposits below Rs. 2 Cr maturing in 7 to 30 days from 27 January 2022. now with an interest rate of 2.75%. The bank currently offers an interest rate of 3.00% on deposits maturing in 91 to 120 days. Regular customers will now earn 3.25% and 4.40% interest on deposits maturing in 121-179 days and 180 days to 363 days, respectively.

On term deposits maturing in 364 days and 365 days to 389 days, the general public will now receive interest rates of 4.50% and 4.90%, respectively. Fixed deposits maturing in 390 days (12 months 25 days) within 2 years and 2 years-under 3 years currently offer interest rates of 5.10% and 5.20%, respectively, of the Kotak Mahindra Bank. Deposits maturing in 3 years to less than 5 years and 5 years and more up to and including 10 years will now generate interest rates of 5.40% and 5.50%, respectively.

Tenor Interest rate per year Annualized return
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 4.40% 4.40%
181 days to 269 days 4.40% 4.45%
270 days 4.40% 4.45%
271 days to 363 days 4.40% 4.45%
364 days 4.50% 4.55%
365 days to 389 days 4.90% 4.99%
390 days (12 months 25 days) 5.10% 5.20%
391 days – less than 23 months 5.10% 5.20%
23 months 5.10% 5.20%
23 months 1 day – under 2 years 5.10% 5.20%
2 years – under 3 years 5.20% 5.30%
3 years and over but less than 4 years 5.40% 5.51%
4 years and over but less than 5 years 5.40% 5.51%
5 years and over up to and including 10 years 5.50% 5.61%
Source: Bank website
Kotak Mahindra Bank Fixed Deposit Interest Rates for Senior Citizens

Kotak Mahindra Bank Fixed Deposit Interest Rates for Senior Citizens

On term deposits of less than Rs. 2 Cr maturing in 7 days to 10 years, senior citizens would continue to receive an additional premium of 0.50%.

Tenor Interest rate per year Annualized return
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 4.90% 4.90%
181 days to 269 days 4.90% 4.96%
270 days 4.90% 4.96%
271 days to 363 days 4.90% 4.96%
364 days 5.00% 5.06%
365 days to 389 days 5.40% 5.51%
390 days (12 months 25 days) 5.60% 5.72%
391 days – less than 23 months 5.60% 5.72%
23 months 5.60% 5.72%
23 months 1 day – under 2 years 5.60% 5.72%
2 years – under 3 years 5.70% 5.82%
3 years and over but less than 4 years 5.90% 6.03%
4 years and over but less than 5 years 5.90% 6.03%
5 years and over up to and including 10 years 6.00% 6.14%
Source: Bank website
Kotak Mahindra Bank Recurring Deposit Interest Rates

Kotak Mahindra Bank Recurring Deposit Interest Rates

The bank has also adjusted its interest rates on recurring deposits below Rs. 2 crores. Kotak Mahindra Bank is giving the following interest rates on recurring deposits for resident individuals and HUFs only as of January 27, 2022.

Mandate Regular interest rate pa (%) Senior rates per year (%)
6 months 4.40% 4.90%
9 months 4.40% 4.90%
12 months 4.90% 5.40%
15 months 5.10% 5.60%
18 months 5.10% 5.60%
21 months 5.10% 5.60%
24months 5.20% 5.70%
27 months 5.20% 5.70%
30 months 5.20% 5.70%
33 months 5.20% 5.70%
3 years – under 4 years 5.40% 5.90%
4 years – under 5 years 5.40% 5.90%
5 years – 10 years 5.50% 6.00%
Source: Bank website

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