Kotak Bank Fixed Deposit (FD) Interest Rates 2023

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Kotak Bank FD Rates for Senior Citizens & Non-Senior Citizens

The Kotak Bank FD interest rates are competitive and attractive for investors. Depending on the tenor chosen and the amount deposited, the Kotak FD interest rates can range from 2.50% per annum to 6.90% per annum. In addition to the attractive fixed deposit rates at Kotak Mahindra Bank, you can also choose an investment tenor ranging from 7 days to 10 years. To plan your FD investment better, you can even make use of the Kotak FD calculator, which is a free online tool.

Before you make your FD investment, check out the table below for more details on the Kotak Bank FD interest rates. As you can see, the Kotak Bank FD rates for senior citizens are higher than the rates offered on regular deposits by non-senior citizens.

Maturity Period	Interest rates on deposits less than ₹2 Crore
Maturity Period	General	Senior Citizen
7 to 14 days	2.50%	3.00%
15 to 30 days	2.75%	3.25%
31 to 45 days	3.25%	3.75%
46 to 90 days	3.25%	3.75%
91 to 120 days	3.75%	4.25%
121 to 179 days	4.00%	4.50%
180 days	5.00%	5.50%
181 to 269 days	5.00%	5.50%
270 days	5.00%	5.50%
271 days to 363 days	5.25%	5.75%
364 days	5.50%	6.00%
365 days to 389 days	6.00%	6.50%
390 days	6.10%	6.60%
391 days to less than 23 months	6.10%	6.60%
23 months	6.20%	6.70%
23 months and 1 day to less than 2 years	6.20%	6.70%
2 years to less than 3 years	6.20%	6.70%
3 years and above but less than 4 years	6.10%	6.60%
4 years and above but less than 5 years	6.10%	6.60%
5 years and above up to and inclusive of 10 years	6.10%	6.60%

Maturity Period	Interest rates on deposits of ₹2 Crores and above but less than ₹5 Crores	Interest rates on deposits of ₹5 Crores and above but less than ₹10 Crores	Interest rates on deposits of ₹10 Crores and above but less than ₹25 Crore	Interest rates on deposits of ₹25 Crores and above
7 to 14 days	3.75%	4.25%	4.25%	4.25%
15 to 30 days	3.75%	4.25%	4.25%	4.25%
31 to 45 days	4.00%	4.75%	4.75%	4.75%
46 to 60 days	4.75%	5.00%	5.00%	5.00%
61 to 90 days	5.25%	5.40%	5.40%	5.40%
91 to 120 days	5.50%	6.00%	6.00%	6.00%
121 to 179 days	5.50%	6.00%	6.00%	6.00%
180 days	5.75%	6.10%	6.10%	6.10%
181 to 270 days	5.75%	6.25%	6.25%	6.25%
271 to 279 days	4.00%	4.50%	4.50%	4.50%
280 to 364 days	6.00%	6.50%	6.50%	6.50%
365 days to less than 15 months	6.50%	6.75%	6.75%	6.90%
15 months to less than 18 months	6.50%	6.75%	6.75%	6.75%
18 months to less than 2 years	6.50%	6.75%	6.75%	6.75%
2 years and above but less than 3 years	6.50%	6.50%	6.50%	6.50%
3 years and above but less than 4 years	6.25%	6.40%	6.40%	6.40%
4 years and above but less than 5 years	6.25%	6.40%	6.40%	6.40%
5 years and above upto and inclusive of 7 years	6.00%	6.25%	6.25%	6.25%

Note: The above interest rates are as of October, 2022 and are applicable for retail domestic fixed deposits. They are subject to change from time to time depending on the bank’s policies.

Deposit Amount

₹

Tenure

Months

Interest Rate

Interest Payout

Your Total Maturity Amount is

Total Investment

Total Interest Earned

Features and Benefits of Kotak Bank Fixed Deposit

Attractive Rates of Interest

Kotak Bank FD interest rates are highly competitive, so you can rest assured that you will get guaranteed and attractive returns on your fixed deposit investment with the bank.

Low Deposit Amounts

You need not wait to save up lakhs of rupees before opening a fixed deposit. In fact, you can invest in a fixed deposit with Kotak Mahindra Bank with as little as ₹5,000.

Flexible Maturity Period

The maturity period for your Kotak Bank fixed deposit is also highly flexible. You can choose an investment tenor ranging from 7 days to 10 years, based on your financial requirements.

Convenient Interest Payout Options

You can even choose to reinvest the interest till maturity or have it paid out on a regular basis. The payout frequency can be monthly or quarterly, depending on your income needs.

Nomination Facility

With a Kotak Mahindra Bank fixed deposit, you can also assign a nominee to your FD investment account. This makes it easier for your legal heirs to access the funds in case of your absence.

Better Returns for Senior Citizens

The Kotak senior citizen FD rates are higher than the rates offered on regular deposits for non-senior citizens. So, if you are over 60 years of age, you can earn higher interest on your deposit.

Kotak Bank FD Interest Rates for Senior Citizens and Others for up to 5 Years

The Kotak Mahindra Bank FD rates vary based on the category of investor and the tenor chosen. Check out the table below to get a better idea of the Kotak Bank FD interest rates, the interest earned and the maturity amount if you invest ₹1 Lakh for various tenors from 1 year to 5 years.

Tenor	Non-Senior Citizen			Senior Citizen
Tenor	Interest Rate	Interest Earned	Maturity Amount	Interest Rate	Interest Earned	Maturity Amount
1 year	6.00%	₹6,136	₹1,06,136	6.50%	₹6,660	₹1,06,660
2 years	6.20%	₹13,094	₹1,13,094	6.70%	₹14,212	₹1,14,212
3 years	6.10%	₹19,916	₹1,19,916	6.60%	₹21,699	₹1,21,699
4 years	6.10%	₹27,400	₹1,27,400	6.60%	₹29,933	₹1,29,933
5 years	6.10%	₹35,351	₹1,35,351	6.60%	₹38,723	₹1,38,723

Note: The above interest rates are as of October, 2022 and are applicable for retail domestic fixed deposits. They are subject to change from time to time depending on the bank’s policies.

Eligibility Criteria and Documents Required for Opening FD in Kotak Bank

Before you open an FD with the bank, it is not just important to know the Kotak interest rates on fixed deposits. You also need to check if you satisfy the eligibility criteria to open an FD with Kotak Mahindra Bank, and be aware of the documents needed to complete the application process. Check out these details below.

1. Eligibility Criteria

You are eligible to open a fixed deposit with Kotak Bank if you belong to any of the following categories of persons.

Indian nationals
NRIs (non-resident Indians)
Senior citizens
Members of a Hindu Undivided Family (HUF)
Minors under guardianship

2. Documents Required

If you meet the eligibility criteria, you can apply to invest in a Kotak Bank fixed deposit. Make sure you have the following documents ready to submit along with your application.

Identity proof (like your PAN card, driving licence, passport, voter's ID, Aadhaar card etc.)
Address proof (like your passport, driving licence, voter's ID, Aadhaar card, utility bill, bank statement etc)
Signature proof (like your PAN card, driving licence or passport)
4 copies of your latest passport size photographs

How to Open FD in Kotak Bank

You can open a fixed deposit with Kotak Mahindra Bank online or offline. If you choose to do this online, you can opt for mobile banking or internet banking. Check out the details of opening an FD with Kotak Bank below.

1. Via Mobile Banking

Here is a step-by-step guide to opening a fixed deposit on Kotak Bank’s mobile app.

Step 1: Log into the mobile banking app.
Step 2: Head to the ‘Banking’ section.
Step 3: Click on the ‘Fixed/Recurring Deposits’ option.
Step 4: Click on ‘Open Fixed Deposit.’
Step 5: Enter the particulars of your investment, like the amount, the tenor and the interest payout options to book your FD.

2. Via Internet Banking

If you wish to open a fixed deposit via Kotak Bank’s internet banking portal, you need to follow the steps listed below.

Step 1: Log into the internet banking portal using your user ID and password.
Step 2: Head to the ‘Investment’ section.
Step 3: Click on the ‘Deposits’ option.
Step 4: Select ‘Open a Fixed/Recurring Deposit.’
Step 5: Enter the details of your deposit, like the investment amount, the tenor and the interest payout to invest in the FD plan.

3. Via a Kotak Bank Branch

If you wish to book your fixed deposit offline, you can follow the procedure given below to book an FD in person at the nearest bank branch.

Step 1: Visit the nearest Kotak Mahindra Bank branch.
Step 2: Fill out the FD application form.
Step 3: Submit any paperwork that may be required along with the application form.
Step 4: Your FD will then be booked after your application is processed.

Conclusion

As you can see, a Kotak Bank fixed deposit can be beneficial in many ways. If you are looking for a safe investment option that offers guaranteed returns, you can consider investing in a fixed deposit offered by Kotak Mahindra Bank. The attractive Kotak fixed deposit rates ensure that you earn competitive returns over your preferred tenor of investment. To plan your investment diligently, you can always make use of a Kotak FD calculator.

Fixed Deposit Rates for Other Banks
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Axis Bank FD Rates	PNB FD Interest Rates	Union Bank FD Rates
HDFC FD Interest Rates	Indusind Bank FD Rates	Bank of Baroda Fixed Deposit Interest Rate
Bandhan Bank FD Rates	Bank of India FD Rates	Karnataka Bank FD Interest Rates
IDFC First Bank FD Rates	RBL FD Rates	UCO Bank FD Rates
Indian Bank FD Rates	Federal Bank FD Rates	Central Bank FD Interest Rate
IDBI FD Interest Rates	Punjab and Sind Bank FD Rates	DCB Bank FD Rates
Bank of Maharashtra FD Rates	KVB FD Interest Rates	Utkarsh Small Finance Bank FD Rates
IOB FD Interest Rates	Ujjivan Bank FD Rates	Saraswat Bank FD Rates
AU Bank FD Rates	YES Bank FD Rates	-

Disclaimer

The information provided by BFDL herein above is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort.

The information including interest rates with regard to fixed deposit, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any investment or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.

Latest Bank FD News

Kotak Mahindra Bank revises their Fixed Deposit rates w.e.f. 8th March,2023

Kotak Mahindra Bank has raised its interest rates on FDs less than Rs.2 crores. The bank has increased its interest rates on select tenures by up to 50 bps. Non-senior citizens can now earn interest rates ranging from 2.75% p.a. to 6.20% p.a. for deposits across maturity periods that range from 7 days to 10 years. Senior citizens can get 3.25% p.a. - 6.70% p.a. for the same tenors. The maximum interest rate that the private sector bank now provides is 7.20% p.a and 7.70% p.a. for senior citizens for deposits that mature in 390 days to less than two years.

- Mar 21 , 2023

Kotak Mahindra Bank hikes FD rates

Kotak Mahindra Bank announced on Wednesday that the interest rate for fixed deposit will be increased across various tenors on FDs under Rs.2 crores. The new interest rates will come into effect from the 15th of December, 2022. Kotak bank will offer an interest rate of 7% in the 390 days, 391 days to less than 23 months and the 23 months tenors. On FDs that mature in 365 days to 389 days, the new interest rate will stand at 6.75%. The bank increased its interest rate on FDs that mature in 390 days to less than 23 months to 7%. Similarly, the revised interest rate for the 23-month tenor is at 7%.

- Dec 22 , 2022

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Monthly Interest on FD

Yes. FD investments in Kotak Bank come with the facility of premature withdrawal, which can be done anytime upon the payment of a minor penalty levied at 0.50% on the Kotak Bank FD interest rate.

Extending the FD investment period is possible. You can do this using the online internet banking facility or by applying for the same at the nearest Kotak Bank branch.

Yes. The Kotak Mahindra Tax Saving Fixed Deposit is a type of FD investment offered by the bank. It offers tax benefits under section 80C of the Income Tax Act, 1961.

To make an FD investment, you can opt for an online form (via the internet banking portal or the app) or an offline form (to be submitted at the nearest branch).

Yes. According to the Income Tax Act, 1961 TDS is deducted by Kotak Bank if the annual interest amount exceeds ₹40,000 for non-senior citizens and ₹50,000 for senior citizens.

To claim a refund for the tax deducted on your fixed deposit interest, you need to file your income tax return and raise the refund request via this ITR form.

The verification and the processing of the refund request can take approximately 3 to 6 months.

Yes. Kotak Bank offers the facility to add nominees for your FD investments through the official internet banking portal, the mobile app or via a branch visit.

Yes. Kotak Bank offers a loan against fixed deposits of ₹50,000 and above with a tenor of 181 days or more. The limit for this loan or overdraft will be decided by the bank.

Yes, Kotak bank FD investment provides FD-backed credit cards. You can get this facility with fixed deposits as low as ₹10,000.

Kotak Mahindra Bank fixed deposit rates range from 2.50% to 6.50% for non-senior citizens, depending on the FD amount and the investment tenor.

Kotak Bank FD interest rates for senior citizens range from 3.00% to 6.90%. The rate depends on the FD amount and the investment tenor.

You can choose an investment tenor ranging from 7 days to 10 years.

The highest Kotak Bank FD interest rate is 6.90% (as of October 2022). This rate of interest is applicable for domestic deposits of ₹25 Crore and above, for a tenor ranging from 365 days to less than 15 months.

Indian residents, NRIs, senior citizens, members of HUF can all invest in a fixed deposit with Kotak Mahindra Bank. FDs for minors can also be opened by the parent or guardian.

Yes. The Kotak Mahindra Bank FD rates for senior citizens are higher than the rates applicable for non-senior citizens.