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Kotak Bank FD Calculator

Kotak Bank Fixed Deposit Calculator 2021

Last Updated 19th Dec 2020

Kotak Bank FDs have tenures ranging from 1 year 25 days to 4 years 11 months 4 days with maximum rate of interest of 4.75%. Interest rates for senior citizens are higher than the normal rates and ranges upto 5.25%.

Tenure Rates Maturity Amount for ₹ 1 Lakh
7 days to 14 days 2.50% to 3.00% ₹ 1,00,048 - ₹ 1,00,115
15 days to 30 days 2.50% to 3.00% ₹ 1,00,103 - ₹ 1,00,247
31 days to 45 days 2.75% to 3.25% ₹ 1,00,234 - ₹ 1,00,401
46 days to 90 days 2.75% to 3.25% ₹ 1,00,347 - ₹ 1,00,801
Kotak Bank FD Maturity Calculator
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Kotak Bank Fixed Deposit Calculator

Kotak Bank fixed deposit calculator helps you to calculate maturity value of your deposited amount at the interest rate offered compounded at 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. Bank may allow higher interest rate on larger deposits. Kotak Bank offers deposit amount in the range of 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 4.75% for deposit amount below Rs. 1 crore corresponding to a deposit tenure of 1 year 25 days to 4 years 11 months 4 days.
  • 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 1 year 25 days FD and a rate of 4.75% for a 4 years 11 months 4 days 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
    • 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 tax saving scheme to save tax on fixed deposit.

Kotak Bank Fixed Deposit Interest Calculator – Interest Payment Options

  • 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.
  • 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.
  • Calculate the FD maturity amount using the FD calculator.

FD Maturity Calculator

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. The interest rates for senior citizens are higher than normal rates of Kotak Bank FD.

Suppose if you make an investment of ₹ 1,00,000 in Kotak Bank FD for a 5-year tenure at an interest rate of 4.75% for depositors below 60 years and 5.25% for senior citizens. The maturity amount for this deposit amount is ₹ 1,26,630 and the total interest earned is ₹ 26,630 for below 60 years age citizens. However, the interest earned for senior citizens is ₹ 29,796 which is higher. The maturity schedule of Kotak Bank FD for 5 years is explained below in the table –

Maturity Schedule for ₹ 1,00,000 FD at 4.75% for Citizens below 60 years and at 5.25% 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
2021 ₹ 4,835 ₹ 1,04,835 ₹ 5,354 ₹ 1,05,354
2022 ₹ 5,069 ₹ 1,09,904 ₹ 5,641 ₹ 1,10,995
2023 ₹ 5,314 ₹ 1,15,218 ₹ 5,943 ₹ 1,16,938
2024 ₹ 5,571 ₹ 1,20,789 ₹ 6,261 ₹ 1,23,199
2025 ₹ 5,840 ₹ 1,26,629 ₹ 6,596 ₹ 1,29,795

Kotak Bank FD Calculator Formula

Along with 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 4.75% on Kotak Bank fixed deposit.

How is Kotak Bank FD interest calculated?

The formula to calculate interest on Kotak Bank FD is
A = P(1+r/n)^nt
Here: A = Maturity amount
P = Invested amount
r = Interest rate as decimal
n = number of times interest is compunded
t = tenure of deposit
However, you can use online FD calculator to estimate the value of interest earned on the deposited amount.

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. Now to apply the rule, one needs the rate of interest we get on FD. Let’s say the interest offered on FD is 6.95%. Now applying the rule, just divide the number 72 by the rate of interest. So 72/6.95 = 10.36. 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.

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Kotak News - Jan 2021
  • 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.
  • 2020-07-27 : Kotak Mahindra Bank Q1 net dips 8.5% to Rs. 1,244 cr
    Kotak Mahindra Bank reported a fall of 8.5% in its standalone net profit at Rs.1,244 crores for the quarter ending 30 June 2020. It was Rs. 1,360 crores in the year-ago period. The net interest income backed by retail loans home, personal, gold, car loans and two-wheeler loans along with business and mudra loans increased by 17.81% to Rs. 3,723.85 crore.
  • 2020-04-08 : Kotak Mahindra Bank Q4 deposits grew by 20%
    Kotak Mahindra Bank reported 20% year on year increase in its FD and RD base to Rs 2.59 trillion in the quarter ending March 2020 against Rs 2.16 trillion in the corresponding quarter of the preceding year. In addition to this, advances of the bank reported an increase of 6.7 per cent in Q4 FY20 to Rs 2.2 trillion compared to Rs 2.05 trillion a year ago.
  • 2020-03-05 : New FD rates for Kotak Bank
    Kotak Bank changed its FD rates. The FD rates for 7 to 14 days is 3.50%, for 15 to 30 days it is 4% and 31 to 45 days it is 4.50%. The fixed deposit rate for short tenor of 46 to 90 days is 5.10%, for 91 to 120 days it is 5.25% and it is 5.30% for 121 to 179 days. Further, FD rates for 180 days is 5.75%, for 181 to 270 days it is 5.80% and it is 6.05% for 271 to 364 days. Fixed deposit rate for long tenors of 12 to 23 months is 6.20%, for 23 months one day to less than four years is 6.10% and for four years one day to 10 years is 6%. The revised rates are in effect from 5 March 2020.
  • 2020-02-13 : Revised FD rates for Kotak Bank
    With effect from today, Kotak Bank has revised its FD rates. The revised rates for a tenure of 7 days to 14 days is 3.50, for 15-30 days the rate is 4.00%; the rate for 31 days to 45 days is 4.50%, for 46 days to 3 months the revised rate is 5.10%, for 91 days to 120 days the rate is 5.25% and for 121 days to 179 days the rate is 5.40%. The revised rates for 180 days is 5.75%, for a tenure of 181 days to 270 days the rate is 5.80%, for 271 days to 364 days the rate is 6.05 % and for 365 days to less than 3 years, the rate is 6.20%. For tenure of 3 years and less than 5 years, the interest rate is 6.10%, and the rate of interest is 6.00% for above 5 years to 10 years.
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More
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