Kotak Bank Interest Rates on FD, Jan 2017

Fixed Deposit Interest Rate of Kotak Bank

Last Updated 19th Jan 2017
Tenure General Rates Senior Citizen Rates
7 days to 14 days 4.00% 4.50%
15 days to 30 days 4.00% 4.50%
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 6.00% 6.50%
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 6.25% 6.75%
23 months 6.25% 6.75%
23 months 1 day to 1 year 364 days 6.25% 6.75%
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 6.00% 6.50%
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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

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  • Kotak Bank FD rates with other banks in India

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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).
News - Jan 2017
17th Jan 17 Kotak Mahindra Bank acquires 19.9 percent stake in Airtel M Commerce Services
Kotak Mahindra Bank Limited has bought a 19.9 percent stake in Airtel M Commerce Services Limited for Rs. 98.38 crore to set up payments bank. AMSL provides electronic payment services to the customers under the Airtel Money brand name.
17th Jan 17 Gold demand in India tumbled by 24 percent 2016, lowest in seven year
Kotak Mahindra Bank in its report has highlighted a decline of 24 percent in gold demand during 2016. Gold demand in India in 2016 was approx 750 metric tons as compared to 858 tons in 2015. The report presents a cautious outlook on the future demand of gold on global bullion and expects a further decline in gold demand to 400 metric tons in 2017 as compared to 575 tons in 2016.
13th Jan 17 Kotak Mahindra Bank reduces savings account deposit rates
Kotak Mahindra Bank has reduced its saving account deposit rates for deposits above Rs. 5 crores to 5.5 percent as compared to 6 percent earlier. The revised saving account deposit rate for deposits up to Rs. 1 lakh now stands at 5 percent. The rates are effective from 6th January, 2017.
07th Jan 17 Kotak Mahindra Bank cuts base rate to 9.30 percent
Kotak Mahindra Bank has reduced its base rate by 10 basis points to 9.30 percent as compared to 9.40 percent earlier. The rate is effective from 6th January, 2017.
02nd Jan 17 Kotak Mahindra Bank reduces MCLR rate by up to 45 basis points
Kotak Mahindra Bank has reduced its overnight and six months marginal cost of lending rates to 8.20 and 8.65 percent respectively. The revised MCLR for one year now stands at 9.20 percent. The bank has reduced its two and three year MCLR by 25 basis points to 9 percent as compared to 9.25 percent earlier. The new rates are effective from 1st January, 2017.
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