Kotak Mahindra Bank has revised downwards its term deposit interest rates by up to 0.25%, or 25 basis points with effect from Monday, February 05, 2018. The new rates of interest shall be applicable to all fresh fixed deposits and renewals of maturing term deposits.
Kotak Mahindra Bank Limited – Current Term Deposit Interest Rates
New Delhi (Delhi, India), February 26, 2018
Kotak Mahindra Bank Revises Downwards Its Term Deposit Interest Rates by up to 0.25% (25 Basis Points)
The Kotak Mahindra Bank Limited has decreased its term deposit interest rates for Domestic, NRE, and NRO Term Deposits by up to 0.25 percent, or 25 basis points with effect from Monday, February 05, 2018.
The decision to decrease the fixed deposit interest rates was taken by the Asset and Liability Committee (ALCO) of Kotak Mahindra Bank Limited.
The new rates of interest shall be applicable to all fresh fixed deposits and on renewals of maturing term deposits.
Kotak Mahindra Bank’s Current Fixed Deposit Interest Rates for Amount Less Than Rs. 1 Crore
Last Revised On: February 05, 2018
1. For Resident Indians: Retail Domestic Term Deposits Interest Rates
7 Days to 14 Days FD Interest Rate: 3.50% Per Annum
15 Days to 30 Days FD Interest Rate: 4.00% Per Annum
31 Days to 45 Days FD Interest Rate: 5.00% Per Annum
46 Days to 90 Days FD Interest Rate: 5.40% Per Annum
91 Days to 120 Days FD Interest Rate: 6.00% Per Annum
121 Days to 179 Days FD Interest Rate: 6.25% Per Annum
180 Days FD Interest Rate: 6.60% Per Annum
181 Days to 364 Days FD Interest Rate: 6.70% Per Annum
365 Days to 389 Days FD Interest Rate: 6.80% Per Annum
390 Days (12 months 24 days) FD Interest Rate: 6.85% Per Annum
391 Days to 23 Months FD Interest Rate: 6.80% Per Annum
23 Months 1 Day to less than 3 Years FD Interest Rate: 6.70% Per Annum
3 Years to less than 5 Years FD Interest Rate: 6.50% Per Annum
3 Years to 10 Years FD Interest Rate: 6.25% Per Annum
2. For Resident Indian Senior Citizens: Retail Domestic Term Deposits Interest Rates
7 Days to 14 Days FD Interest Rate: 4.00% Per Annum
15 Days to 30 Days FD Interest Rate: 4.50% Per Annum
31 Days to 45 Days FD Interest Rate: 5.50% Per Annum
46 Days to 90 Days FD Interest Rate: 5.90% Per Annum
91 Days to 120 Days FD Interest Rate: 6.50% Per Annum
121 Days to 179 Days FD Interest Rate: 6.75% Per Annum
180 Days FD Interest Rate: 7.10% Per Annum
181 Days to 364 Days FD Interest Rate: 7.20% Per Annum
365 Days to 389 Days FD Interest Rate: 7.30% Per Annum
390 Days (12 months 24 days) FD Interest Rate: 7.35% Per Annum
391 Days to 23 Months FD Interest Rate: 7.30% Per Annum
23 Months 1 Day to less than 3 Years FD Interest Rate: 7.20% Per Annum
3 Years to less than 5 Years FD Interest Rate: 7.00% Per Annum
3 Years to 10 Years FD Interest Rate: 6.75% Per Annum
3. For Non-Resident External (NRE): Term Deposits Interest Rates
365 Days to 389 Days FD Interest Rate: 6.80% Per Annum
390 Days (12 months 24 days) FD Interest Rate: 6.85% Per Annum
391 Days to 23 Months FD Interest Rate: 6.80% Per Annum
23 Months 1 Day to less than 3 Years FD Interest Rate: 6.70% Per Annum
3 Years to less than 5 Years FD Interest Rate: 6.50% Per Annum
3 Years to 10 Years FD Interest Rate: 6.25% Per Annum
4. For Non-Resident Ordinary (NRO): Term Deposits Interest Rates
7 Days to 14 Days FD Interest Rate: 3.50% Per Annum
15 Days to 30 Days FD Interest Rate: 4.00% Per Annum
31 Days to 45 Days FD Interest Rate: 5.00% Per Annum
46 Days to 90 Days FD Interest Rate: 5.40% Per Annum
91 Days to 120 Days FD Interest Rate: 6.00% Per Annum
121 Days to 179 Days FD Interest Rate: 6.25% Per Annum
180 Days FD Interest Rate: 6.60% Per Annum
181 Days to 364 Days FD Interest Rate: 6.70% Per Annum
365 Days to 389 Days FD Interest Rate: 6.80% Per Annum
390 Days (12 months 24 days) FD Interest Rate: 6.85% Per Annum
391 Days to 23 Months FD Interest Rate: 6.80% Per Annum
23 Months 1 Day to less than 3 Years FD Interest Rate: 6.70% Per Annum
3 Years to less than 5 Years FD Interest Rate: 6.50% Per Annum
3 Years to 10 Years FD Interest Rate: 6.25% Per Annum
Definition of a Senior Citizen: A senior citizen is defined as a person above the age of 60 years. The interest rates for the Senior Citizens are applicable only to the Resident Indians on Domestic Fixed Deposits. In case of the Joint Account Holders, where one of the account holder is a Senior Citizen, the Senior Citizen Term Deposit Interest Rate will only be applicable if the Senior Citizen is the ‘First Holder’ on the said term deposit.
Bulk Term Deposits: Please contact to the nearest Kotak Mahindra Bank branch for interest rates on domestic bulk term deposits of Rs. 1 crores and above.
Non-Resident External (NRE) Term Deposits: The minimum tenure for Non-Resident External (NRE) term deposits is 1 year and no interest is payable for deposits prematurely withdrawn within the period of 1 year from the date of deposit.
Kotak Mahindra Bank Bulk Term Deposits: For terms and conditions or any other details about Kotak Mahindra Bank Fixed Deposit Interest Rates, please contact your nearest Kotak Mahindra Bank branch.
Kotak Mahindra Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Kotak Mahindra Bank Limited