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Kotak Mahindra Bank Recurring Deposit Interest Rate
On recurring deposits, Kotak Mahindra Bank offers the interest rates mentioned below to resident individuals and HUF only.
| Mandate | Interest rate per year (%) | Senior rates per year (%) |
|---|---|---|
| 6 months | 4.25% | 4.75% |
| 9 months | 4.40% | 4.90% |
| 12 months | 4.50% | 5.00% |
| 15 months | 4.75% | 5.25% |
| 18 months | 4.75% | 5.25% |
| 21 months | 4.75% | 5.25% |
| 24months | 5.00% | 5.50% |
| 27 months | 5.00% | 5.50% |
| 30 months | 5.00% | 5.50% |
| 33 months | 5.00% | 5.50% |
| 3 years – less than 4 years | 5.20% | 5.70% |
| 4 years – less than 5 years | 5.20% | 5.70% |
| 5 years – 10 years | 5.25% | 5.75% |
| Source: Bank website, recurring deposit rates in effect from September 30, 2021 |
Kotak Mahindra Bank Fixed Deposit Interest Rate
For deposit amount less than Rs 2 Cr with premature withdrawal option, Kotak Mahindra Bank now promises interest rates below on fixed deposits.
| Mandate | Interest rate per year (%) | Annualized return | Senior rates per year (%) | Annualized return |
|---|---|---|---|---|
| 7 – 14 days | 2.50% | 2.50% | 3.00% | 3.00% |
| 15 – 30 days | 2.50% | 2.50% | 3.00% | 3.00% |
| 31 – 45 days | 2.75% | 2.75% | 3.25% | 3.25% |
| 46 – 90 days | 2.75% | 2.75% | 3.25% | 3.25% |
| 91 – 120 days | 3.00% | 3.00% | 3.50% | 3.50% |
| 121 – 179 days | 3.20% | 3.20% | 3.70% | 3.70% |
| 180 days | 4.20% | 4.20% | 4.70% | 4.70% |
| 181 days to 269 days | 4.25% | 4.30% | 4.75% | 4.81% |
| 270 days | 4.40% | 4.45% | 4.90% | 4.96% |
| 271 days to 363 days | 4.40% | 4.45% | 4.90% | 4.96% |
| 364 days | 4.40% | 4.45% | 4.90% | 4.96% |
| 365 days to 389 days | 4.50% | 4.58% | 5.00% | 5.09% |
| 390 days (12 months 25 days) | 4.75% | 4.84% | 5.25% | 5.35% |
| 391 Days – Less than 23 Months | 4.75% | 4.84% | 5.25% | 5.35% |
| 23 months | 4.90% | 4.99% | 5.40% | 5.51% |
| 23 months 1 day – less than 2 years | 4.90% | 4.99% | 5.40% | 5.51% |
| 2 years – less than 3 years | 5.00% | 5.09% | 5.50% | 5.61% |
| 3 years and over but less than 4 years | 5.20% | 5.30% | 5.70% | 5.82% |
| 4 years and over but less than 5 years | 5.20% | 5.30% | 5.70% | 5.82% |
| 5 years and over up to 10 years inclusive | 5.25% | 5.35% | 5.75% | 5.88% |
| Source: Bank website, INTEREST RATES FOR DOMESTIC FIXED DEPOSITS / NRO / NRE from September 30, 2021 |
Kotak Mahindra Bank Interest Rate on Savings Account
Daily balances in savings accounts up to Rs. 1 lakh will earn 3.50% pa interest as of September 20, 2021. The interest rate on daily savings account balances above Rs. 1 lakh was increased to 3.50% per annum. Only resident accounts are eligible for these interest rates.
| Nature | Normal | Old person |
|---|---|---|
| A. Domestique (Sep 20, 2021) | 3.50% pa | 3.50% pa |
| B. Basic Savings Bank Deposit Account / Small Account (Sep 20, 2021) | 3.50% pa | 3.50% pa |
| C. Non-resident (NRE / NRO) | 3.50% pa | 3.50% pa |
| Source: Bank website, (Wef 20 Sept. 2021) |
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