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Kotak FD Calculator

Kotak Bank Fixed Deposit Calculator 2022

Last Updated 19th Jan 2022

Kotak Bank FDs have tenures ranging from 3 years to 10 years with maximum rate of interest of 5.30%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.80%.

Tenure Interest Rate for General Public Interest Rate for Senior Citizens Max Maturity Amount per Lakh
7 days to 14 days 2.50% 3.00% ₹ 1,00,048 - ₹ 1,00,115
15 days to 30 days 2.50% 3.00% ₹ 1,00,103 - ₹ 1,00,247
31 days to 45 days 2.75% 3.25% ₹ 1,00,234 - ₹ 1,00,401
46 days to 90 days 2.75% 3.25% ₹ 1,00,347 - ₹ 1,00,801
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Kotak Bank Fixed Deposit Calculator

Kotak Bank fixed deposit calculator helps you calculate maturity value of your deposited amount at the interest rate which is compounded quarterly. The amount of fixed deposits, interest rates on FD, deposit tenure and compounding frequency of interest together determine the maturity amount of the FD at the end of the tenure.

  • Deposit amount – This is the initial amount deposited by a customer in Kotak Bank. Banks may allow a higher interest rate on larger deposits. Kotak Bank offers a deposit amount in the range of Rs. 1,000 to No Limit.
  • Rate of Interest - Interest rate is the rate charged by the bank on your fixed deposit. Kotak Bank offers a higher rate of interest on fixed deposits of longer tenure and lower interest rate on deposits of less than a year. Highest interest rate offered by Kotak Bank is 5.30% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 3 years to 10 years.
  • Period of deposit - Bank offers low interest rate for short tenure FDs and higher interest rate for long tenure FDs. Bank offers a rate of 2.50% for a 3 years FD and a rate of 5.30% for a 10 years FD.
  • Interest Compounding Frequency - This determines the frequency at which interest is compounded. Compounding frequency can be monthly, quarterly, half yearly or annual frequency.
  • TDS applicability and TDS rate - A TDS of 10% of interest amount is applicable if you earn more than Rs 40,000 in a year from FD, which is called FD income. If you do not submit the PAN Card to the bank then TDS rate will be 20% of interest amount.
    • Illustration: Mr. A opens a FD account of ₹ 1,00,000 with a tenure of 7 days at an interest rate of 2.50%. In this case, the maturity amount at the end of 7 days will be ₹ 1,00,671 which includes the principal of ₹ 1,00,000 and interest of ₹ 671 is earned on the principal amount during the period. Similarly, you can calculate the interest and maturity amount for higher tenures by using FD calculators.

      Kotak Bank calculates quarterly interest on its fixed deposits. You can also opt for a tax saving scheme to save tax on fixed deposit.

How to Use MyLoanCare FD Calculator

Here is a simple procedure to use MyLoanCare FD calculator:-

  • Go to the FD Calculator.
  • Fill the fields like Deposit Amount, Rate of Interest, Period of Deposit (In years or months), Interest compound frequency.
  • Click Calculate.
  • Result will be shown, which will consist of total maturity amount and total interest earned

Kotak Bank Fixed Deposit Interest Rate Calculator – Interest Payment Options

  • Non Cumulative- In a periodic interest payout option, Kotak Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • Cumulative- In case you opt for a Kotak Bank cumulative deposit on maturity you would get a credit for the principal and interest earned net of TDS.

How is Kotak Bank FD Rate Calculated?

Kotak Bank calculates fd interest in two ways, one is cumulative and non-cumulative as discussed above. It is a decision made by you whether you want interest payout at the end of the tenure or monthly, quarterly, half-yearly or yearly. To earn more money you can go for a cumulative method because interest earned throughout the tenure is added to the principal amount and is compounded then. However, if you are looking for monthly income or so then you can go for non-cumulative.

Kotak Bank FD Maturity Calculation for 5 Year

The interest earned on a fixed deposit in Kotak Bank depends on the deposit amount, interest applicable, deposit tenure and the type of interest calculation frequency. Interest on Kotak Bank FD can be calculated monthly, quarterly, half-yearly and annually.

Let’s understand how much interest you will earn if you invest ₹ 1,00,000 in Kotak Bank FD for a 5-year tenure at an interest rate of 5.30% for depositors below 60 years and 5.80% for senior citizens.The maturity schedule of Kotak Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 5.30% for Citizens below 60 years and at 5.80% for Senior Citizens for 5 years

Year Citizens below 60 Years of Age Senior Citizens above 60 Years
Interest Earned Closing Balance Interest Earned Closing Balance
2022 ₹ 5,406 ₹ 1,05,406 ₹ 5,927 ₹ 1,05,927
2023 ₹ 5,699 ₹ 1,11,105 ₹ 6,279 ₹ 1,12,206
2024 ₹ 6,007 ₹ 1,17,112 ₹ 6,651 ₹ 1,18,857
2025 ₹ 6,331 ₹ 1,23,443 ₹ 7,045 ₹ 1,25,902
2026 ₹ 6,674 ₹ 1,30,117 ₹ 7,463 ₹ 1,33,365

Kotak Bank FD Calculator Formula

Along with an online FD Calculator, you can use the formula to do the mathematical calculation of the maturity amount and interest earned on Kotak Bank FD.

A = P (1 + r/n) ^ n*t
In the above formula –

  • A - Amount received on maturity
  • P - Deposit amount
  • r - Annual interest rate
  • n - Number of times the interest is compounded
  • t is Investment tenure

Other Investment Calculators

FAQs

What is the highest interest earned on Kotak Bank fixed deposit?

You can earn a maximum interest of 5.30% on Kotak Bank fixed deposits.

How many years FD will double in Kotak Bank?

The growth of Kotak Bank FD depends on the rate of interest and tenure. There is a method called Rule 72, which computes the number of years it will take to double one’s amount invested in Kotak Bank FD.You can also use Kotak Bank fd calculator to calculate the maturity amount. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 7.05%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/7.05 = 10.21. So it will take a little more than 14 years for one’s investment to get doubled in Kotak Bank.

What are the minimum and maximum amounts that I can invest in an Kotak Bank FD?

The minimum investment limit in Kotak Bank Fixed deposit account is ₹ 1,000 and there is no maximum investment limit on FD.

Can I withdraw my premature FD from Kotak Bank?

Yes, you can withdraw your premature FD amount if you want money before the tenure ends. However, you might have to pay a penalty fee ranging from 0.50% for deposits held for more than 181 days of FD amount for premature withdrawal.

How can I calculate Kotak Bank premature FD amount?

To calculate premature FD amount you can use Kotak Bank bank fd calculator. All you have to put is the value of the invested amount, tenure, interest rate and premature penalty rate (if any).


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Kotak News - Jan 2022
  • 2022-01-12 : Kotak Mahindra Bank Increases Fixed Deposit Rates
    Kotak Mahindra Bank has increased the fixed interest rate across various tenors. As a result, the rates for FDs maturing in 7 to 30 days, 31 to 90 days and 91 to 120 days are 2.5%, 2.75% and 3%, respectively.
  • 2021-09-13 : Kotak Mahindra Bank Revises Fixed Deposit Rates
    Kotak Mahindra Bank has revised fixed deposit rates for different tenures. Now, the bank is offering interest rate of 3% on fd’s maturing in 91-121 days and 3.25% for 121-179 days tenure. Bank is offering highest rate of 5.40% on a tenure of 23 months and 2 years.
  • 2021-03-03 : Kotak Bank revised its FD rates
    With effect from 25 february 2021, Kotak Bank changed its FD rates. The FD rates for 7 to 30 days is 2.50% and 31 to 90 days it is 2.75%. The rate for short tenors for 91 to 179 days is 3.25% and it is 4.40% for 180 to 364 days. FD rate for long tenors of 12 months to 389 days is 4.50%, for 390 days to 22 months 29 days the rate is 4.75%, for 23 months to 23 months 1 day to 1 year 11 months 29 days the rate is 5% and for two years to 2 years 364 days the rate is 5% , for 3 years to 3 years 364 days it is 5.10%. Further, the rate for 4 years to 4 years 364 days is 5.20% and stands at 5.25% for 5 years to 10 years.
  • 2021-02-16 : Kotak Bank revised its FD rate
    With effect from 4 february 2021, Kotak Bank changed its FD rates. The FD rates for 7 to 30 days is 2.50% and 31 to 90 days it is 2.75%. The rate for short tenors for 91 to 179 days is 3.25% and it is 4.40% for 180 to 364 days. FD rate for long tenors of 12 months to 389 days is 4.50%, for 390 days to 23 months 1 day to 1 year 11 months 29 days is 4.75% and for two years to 2 years 364 days the rate is 5% , for 3 years to 3 years 364 days it is 5.10%. Further, the rate for 4 years to 4 years 364 days is 5.20% and stands at 5.25% for 5 years to 10 years.
  • 2020-11-06 : New FD rates for Kotak Bank
    Kotak Bank changed its FD rates. The FD rates for 7 to 30 days is 2.50% and 31 to 90 days it is 2.75%. The fixed deposit rate for short tenor for 91 to 179 days it is 3.50% and it is 4.50% for 180 to 364 days. Fixed deposit rate for long tenors of 12 months to 389 days is 4.60%, for 369 days to less than four years is 4.90% and for four years one day to less than 5 years is 4.75%. The revised rates are in effect from 4 November 2020.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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