Banking Q&A

Kotak Mahindra Bank FD Rates, April 2019

Kotak Mahindra Bank FD Rates, April 2019

Fixed Deposits in Kotak Mahindra Bank are fixed-income saving tools. The customers can deposit an amount for a definite period and at a predetermined rate of interest.

FDs in Kotak Mahindra Bank is a safe medium for investment. If the interest is paid out to the customer regularly, creating an income stream, this plan is called a Simple Fixed Deposit scheme. Alternatively, Kotak Mahindra Bank also lets clients reinvest the interest in the FD in a compounded manner to maximize returns.

Using the tenure, principal amount, and interest rates on FDs in Kotak Mahindra Bank, customers can calculate their maturity value.

Since the plan is term restricted, any premature withdrawal of the funds might or might not be allowed, depending on the particulars of the scheme availed. If allowed, it might be paid out with reduced interests.

Additionals benefits of Kotak Mahindra Bank’s Fixed Deposits involve tax saving plans, senior citizen advantages, recurring deposits with monthly investments, and nomination services. The Bank also allows sweep-in facility. By linking the FD(one or more) to a savings account, this provision allows the customers to enjoy liquidity and overdraft facility.

Tenure Interest Rates for Regular Deposit Interest Rates for Senior Citizen
7 days to 14 days 3.50% 4.00%
15 days to 30 days 4.00% 4.50%
31 days to 45 days 5.00% 5.50%
46 days to 90 days 5.50% 6.00%
91 days to 120 days 6.25% 6.75%
121 days to 179 days 6.25% 6.75%
180 days to 269 days 7.00% 7.50%
270 days to 363 days 7.00% 7.50%
364 days 7.25% 7.75%
365 days to 389 days 7.30% 7.80%
390 days to 1 year 364 days 7.40% 7.90%
2 years to 2 years 364 days 7.25% 7.75%
3 years to 3 years 364 days 7.10% 7.60%
4 years to 4 years 364 days 7.00% 7.50%
5 years to 10 years 6.50% 7.00%

This will be updated whenever there’s a change in the deposit rates.