Kotak Bank Interest Rates on FD, Dec 2016

Fixed Deposit Interest Rate of Kotak Bank

Last Updated 10th Dec 2016
Tenure General Rates Senior Citizen Rates
7 days to 14 days 4.00% 4.50%
15 days to 30 days 4.25% 4.75%
31 days to 45 days 5.25% 5.75%
46 days to 90 days 5.75% 6.25%
91 days to 120 days 6.00% 6.50%
121 days to 179 days 6.25% 6.75%
180 days 6.50% 7.00%
181 days to 269 days 6.50% 7.00%
270 days 6.50% 7.00%
271 days to 363 days 6.50% 7.00%
364 days 6.50% 7.00%
365 days to 389 days 6.75% 7.25%
390 days 6.75% 7.25%
391 days to 22 months 29 days 6.50% 7.00%
23 months 6.50% 7.00%
23 months 1 day to 1 year 364 days 6.50% 7.00%
2 years to 2 years 364 days 6.25% 6.75%
3 years to 3 years 364 days 6.25% 6.75%
4 years to 4 years 364 days 6.25% 6.75%
5 years to 10 years 6.25% 6.75%
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  • Kotak Bank offers FD interest rates upto 6.75% per annum.
  • Interest on deposits with Kotak Bank is typically compounded quarterly.
  • Kotak Bank accepts deposits starting at Rs. 10000 for various tenures.
  • For senior citizens (age more than 60 years), Kotak Bank offers higher interest rate over and above rates mentioned below.
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FD Maturity Amount

Kotak Bank Fixed Deposit – Premature Withdrawl

  • You may break you FD and withdraw your money subject to minimum moratorium requirements.
  • However, in case of premature withdrawal, Kotak Bank pays applicable ROI for actual duration of deposit and charges 0.50% penalty for deposits upto 181 days and nil penalty for deposits above 181 days.

Loan against Kotak Bank FD

  • Kotak Bank offers loan upto 85% against its own deposit. Note that you cannot obtain a loan against FD from another bank.
  • Applicable rate of interest on loan against FD is typically 0.5% to 2% over the fixed deposit rate.

Kotak Bank Interest Rates in your city. How and where to apply?

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • In case you already hold an account with Kotak Bank, you don’t need to submit KYC documents again.
  • To know more or apply, contact any of the branches of Kotak Bank in your city - Find Kotak Bank Branches here

About Kotak Bank

Kotak Mahindra Bank is an Indian bank and financial service firm established in 1985. It was previously known as Kotak Mahindra Finance Limited, a non-banking financial company. In February 2003, Kotak Mahindra Finance Ltd, the group's flagship company was given the license to carry on banking business by the Reserve Bank of India (RBI). Kotak Mahindra Finance Ltd. is the first company in the Indian banking history to convert to a bank. Kotak Mahindra Bank Ltd is one of the fastest growing bank and among the most admired financial institutions in India. The bank have one of the largest and most respected Wealth Management teams in India, providing the widest range of solutions to high net worth individuals, entrepreneurs, business families and employed professionals. Kotak Mahindra Bank Limited offers transaction banking, operates lending verticals, manages initial public offerings (IPOs) and provides working capital loans. The Bank operates in four segments: Treasury and BMU, Corporate / Wholesale Banking, Retail Banking and Other Banking business. During the year 2010-11, the Bank added 72 branches and 246 ATMs and ended the year with 321 Branches and 710 ATMs, and thereby increasing their presence to 183 locations. The market capitalization of Kotak Mahindra bank stood at Rs. 83015.81 crores. For FY14, Kotak Mahindra Bank reported higher net profit of Rs.1, 503 crores on 16% growth in its net interest income. Total assets managed / advised by the Group as on March 31, 2014 are Rs. 56,564 crores (March 31, 2013 Rs. 55,243 crores).

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News - Dec 2016
09th Dec 16 Kotak Mahindra Bank to launch Kona Kona Cashfree, a nationwide digital banking initiative
Kotak Mahindra Bank has announced the launch of a pan India digital banking initiative with Kona Kona Cashfree. The idea is to promote cash free transactions by giving incentives, educating and making people aware of various digital payment options available. The initiative is taken to complement the vision of Digital India. The bank has already launched a range of digital banking apps such as Kaypay, an UPI based application and Kotak Bharat, first of its kind multi lingual app in India that does not require internet connectivity.
02nd Dec 16 Kotak Mahindra Bank cuts MCLR up to 30 basis points
Kotak Mahindra Bank has reduced its six months and one year marginal cost of lending rate to 9.05 and 9.20 percent from 9.20 and 9.45 percent respectively. The bank has reduced its three year lending rate by 30 basis points to 9.25 percent from 9.55 percent earlier. Revised rates are effective from 1st December, 2016.
18th Nov 16 Kotak Mahindra Bank fixed deposit rate cut to 7 percent
Kotak Mahindra Bank has reduced its one year fixed deposits rate by 25 basis points to 7 percent. Fixed deposit rates for two to three years are also reduced by 50 basis points to 6.75 percent from 7.25 percent. The revised rates will be applicable to new deposits and renewal of maturing deposits.
12th Nov 16 Kotak Mahindra Bank gets RBI approval to open branch in Dubai International Finance Centre
Kotak Mahindra Bank received approval from Reserve Bank of India to start its maiden international branch in DIFC (Dubai International Finance Centre). This will be the first international branch of Kotak in DIFC. Kotak already has international offices in London, New York, Texas, California, Dubai, Abu Dhabi, Mauritius and Singapore.
27th Oct 16 Kotak Mahindra Bank net profit in second quarter rises by 43 percent, NPA reduces marginally
Kotak Mahindra Bank reported an increase in its net profit by 43 percent to Rs. 813 crore in the June to September quarter as compared to the net profit of Rs. 570 crore during the same corresponding period a year ago. The gross non performing assets are reduced to 2.49 percent in September as compared to 2.50 percent in June.
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