Kotak Mahindra Bank Changes Interest Rates On FD & RD: Latest Rates Here
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Kotak Mahindra Bank Recurring Deposit Interest Rates
On recurring deposits, Kotak Mahindra Bank is offering the below-mentioned interest rates to resident individuals and HUF only.
| Tenure | Interest Rate p.a. (%) | Senior Citizen Rates p.a. (%) |
|---|---|---|
| 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% |
| 24 Months | 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 – 10years | 5.25% | 5.75% |
| Source: Bank Website, Recurring Deposit rates effective from 30th September-2021 |
Kotak Mahindra Bank Fixed Deposit Interest Rates
For a deposit amount of less than Rs 2 Cr with a premature withdrawal option, Kotak Mahindra Bank is now promising the below-listed interest rates on fixed deposits.
| Tenure | Interest Rate p.a. (%) | Annualised Yield | Senior Citizen Rates p.a. (%) | Annualised Yield |
|---|---|---|---|---|
| 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 above but less than 4 years | 5.20% | 5.30% | 5.70% | 5.82% |
| 4 years and above but less than 5 years | 5.20% | 5.30% | 5.70% | 5.82% |
| 5 years and above upto and inclusive of 10 years | 5.25% | 5.35% | 5.75% | 5.88% |
| Source: Bank Website, INTEREST RATES FOR Domestic / NRO / NRE FIXED DEPOSITS effective from 30th September 2021 |
Kotak Mahindra Bank Interest Rates On Savings Account
Daily balances in Savings Accounts up to Rs. 1 lakh will fetch 3.50 percent p.a. interest as of September 20, 2021. The interest rate on daily savings account balances above Rs. 1 lakh has been raised to 3.50 percent per annum. Only Resident Accounts are eligible for these interest rates.
| Nature | Normal | Senior Citizen |
|---|---|---|
| A. Domestic (W.e.f. Sep 20, 2021) | 3.50% p.a. | 3.50% p.a. |
| B. Basic Savings Bank Deposit Account/Small Account (W.e.f. Sep 20, 2021) | 3.50% p.a. | 3.50% p.a. |
| C. Non Resident (NRE/NRO) | 3.50% p.a. | 3.50% p.a. |
| Source: Bank Website, (W.e.f. Sep 20, 2021) |
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