Kotak Mahindra Bank Fixed Deposit FD Interest Rate For Public and Senior Citizens [Updated]
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Kotak Mahindra Bank FD Interest Rate 2025: The Kotak Mahindra Bank has released its new updated Interest Rate on Fixed Deposits (FD). Recently, the Reserve Bank of India (RBI) has reduced the repo rate to 6%. Due to this, interest rate on FD has been decreased by all the banks in India. Along with FD, interest rates on Loans have also been decreased. The revised interest rates are as under (Rates in % p.a):
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS – PREMATURE WITHDRAWAL ALLOWED
| Fixed Deposits Interest Rates for Domestic/ NRO / NRE effective from 9th Apr 2025. (Rates are subject to change from time to time) | ||||||||||
| Regular | Senior Citizen* | |||||||||
| Maturity Periods – Premature Withdrawal Allowed | Less than Rs.3 Crore# | Annualised Yield | Less than Rs.3 Crore# | Annualised Yield | ||||||
| 7 – 14 Days | 2.75% | 2.75% | 3.25% | 3.25% | ||||||
| 15 – 30 Days | 3.00% | 3.00% | 3.50% | 3.50% | ||||||
| 31 – 45 Days | 3.25% | 3.25% | 3.75% | 3.75% | ||||||
| 46 – 90 Days | 3.50% | 3.50% | 4.00% | 4.00% | ||||||
| 91 – 120 Days | 4.00% | 4.00% | 4.50% | 4.50% | ||||||
| 121 – 179 days | 4.25% | 4.25% | 4.75% | 4.75% | ||||||
| 180 Days | 7.00% | 7.00% | 7.50% | 7.50% | ||||||
| 181 Days to 269 Days | 6.00% | 6.09% | 6.50% | 6.61% | ||||||
| 270 Days | 6.00% | 6.09% | 6.50% | 6.61% | ||||||
| 271 Days to 363 Days | 6.00% | 6.09% | 6.50% | 6.61% | ||||||
| 364 Days | 6.50% | 6.61% | 7.00% | 7.12% | ||||||
| 365 Days to 389 Days | 7.10% | 7.29% | 7.60% | 7.82% | ||||||
| 390 Days (12 months 25 days) | 7.25% | 7.45% | 7.75% | 7.98% | ||||||
| 391 Days – Less than 23 Months | 7.30% | 7.50% | 7.80% | 8.03% | ||||||
| 23 Months | 7.25% | 7.45% | 7.75% | 7.98% | ||||||
| 23 months 1 Day- less than 2 years | 7.15% | 7.34% | 7.65% | 7.87% | ||||||
| 2 years- less than 3 years | 7.15% | 7.34% | 7.65% | 7.87% | ||||||
| 3 years and above but less than 4 years | 7.00% | 7.19% | 7.50% | 7.71% | ||||||
| 4 years and above but less than 5 years | 7.00% | 7.19% | 7.50% | 7.71% | ||||||
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.35% | 6.70% | 6.87% | ||||||
| Fixed Deposits Interest Rates for Domestic/ NRO / NRE effective from 11th Apr 2025. (Rates are subject to change from time to time) | ||||||||||
| Maturity Period – Premature Withdrawal Allowed | Rs. 3 Crore & above but below Rs. 10Crores # | Rs. 10 Crores & above but below 25 Crores # | Rs. 25 Cr & above but below 100 cr # | Rs. 100 Cr & above but below 300 Cr # | Rs. 300 Cr and above # | |||||
| 7 – 14 Days | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | |||||
| 15 – 30 Days | 4.25% | 5.00% | 5.00% | 5.00% | 5.00% | |||||
| 31 – 45 Days | 5.00% | 5.75% | 5.75% | 5.75% | 5.75% | |||||
| 46 – 60 Days | 5.00% | 6.00% | 6.00% | 6.00% | 6.00% | |||||
| 61 – 90 Days | 5.50% | 6.50% | 6.50% | 6.50% | 6.50% | |||||
| 91 – 120 Days | 6.00% | 6.60% | 6.60% | 6.60% | 6.60% | |||||
| 121 – 179 Days | 6.00% | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 180 Days | 7.00% | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 181 Days to 270 Days | 6.00% | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 271 Days to 279 Days | 5.75% | 5.50% | 5.75% | 5.75% | 5.75% | |||||
| 280Days ‐ 364 days | 6.50% | 7.10% | 7.10% | 7.10% | 7.10% | |||||
| 365 days ‐ Less Than 15Months | 7.10% | 7.10% | 7.10% | 7.10% | 7.10% | |||||
| 15 months – less than 18 months | 7.10% | 7.10% | 7.10% | 7.10% | 7.10% | |||||
| 18 months – less than 2 Years | 6.90% | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 2 years and above but less than 3 years | 6.80% | 6.75% | 6.75% | 6.75% | 6.75% | |||||
| 3 years and above but less than 4 years | 6.50% | 6.50% | 6.50% | 6.50% | 6.50% | |||||
| 4 years and above but less than 5 years | 6.35% | 6.25% | 6.25% | 6.25% | 6.25% | |||||
| 5 years and above upto & inclusive of 7 years | 6.20% | 6.25% | 6.25% | 6.25% | 6.25% | |||||
Disclaimer
#Simple interest rate
*Senior Citizens’ rate is not applicable on NRO/NRE deposits
– No interest will be payable for NRE TDs staying less than 1 year.
– For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
– Standalone Fixed Deposits of tenure 181 days and above linked to saving / current account will be treated as per the regular sweep deposit functionality and penal charge will be applicable as below mentioned in premature withdrawal penalty section.
– For ActivMoney (2 way sweep deposits) Regular Fixed Deposit rates will be applicable for all customers including Senior Citizen’s / Bank Staff
– Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank.
– Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per RBI directives
– Above rates are applicable for mentioned dates only and are subject to change without prior notice
– The calculation of interest is basis 365 days in a non-leap year and 366 days in a leap (calendar) year.
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS – PREMATURE WITHDRAWAL NOT ALLOWED
| Interest Rates for Domestic/ NRO / NRE Fixed Deposits effective from 11th Apr 2025 (Rates are subject to change from time to time) | ||||||||||
| Maturity Period – Premature Withdrawal Not Allowed | Rs. 3 Crore & above but below Rs. 10Crores # | Rs. 10 Crores & above But below 25 Crores # | Rs. 25 Cr & above but below 100 cr # | Rs. 100 Cr & above but below 300 Cr # | Rs. 300 Cr and above # | |||||
| 91 – 120 Days | NA | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 121 – 179 Days | NA | 7.00% | 7.00% | 7.00% | 7.00% | |||||
| 180 Days | NA | 7.00% | 7.00% | 7.00% | 7.00% | |||||
| 181 Days to 270 Days | 6.60% | 7.00% | 7.00% | 7.00% | 7.00% | |||||
| 271 Days to 279 Days | 6.00% | 6.25% | 6.25% | 6.25% | 6.25% | |||||
| 280Days ‐ 364 days | 7.00% | 7.20% | 7.20% | 7.20% | 7.20% | |||||
| 365 days ‐ Less Than 15Months | 7.25% | 7.25% | 7.25% | 7.25% | 7.25% | |||||
| 15 months – less than 18 months | 7.20% | 7.20% | 7.20% | 7.20% | 7.20% | |||||
| 18 months – less than 2 Years | 7.20% | 7.00% | 7.00% | 7.00% | 7.00% | |||||
| 2 years and above but less than 3 years | 6.90% | 6.90% | 6.90% | 6.90% | 6.90% | |||||
| 3 years and above but less than 4 years | 6.65% | 6.65% | 6.65% | 6.65% | 6.65% | |||||
| 4 years and above but less than 5 years | NA | NA | NA | NA | NA | |||||
Disclaimer : Premature withdrawal Not Allowed Deposit
#Simple interest rate
*Senior Citizens’ rate is not applicable on NRO/NRE deposits
– Premature withdrawal of this deposit is not allowed till maturity.
– No interest will be payable for NRE TDs staying less than 1 year.
– For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
– ActivMoney/ Sweep in Facility is not available on this deposit
– Auto Renew option is not available.
– Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank
– Monthly Interest Payout option is not available.
– Above rates are applicable for mentioned dates only and are subject to change without prior notice
– Bank will not extend any kind of facility including OD against Fixed Deposits booked under No Premature Withdrawal scheme;
– Bank will not book Fixed Deposits in respect of funds lying in Escrow account / arrangement
– The calculation of interest is basis 365 days in a year for deposits booked in a non-leap year and 366 days in a year for Fixed Deposits booked in a leap (calendar) year.
Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE)
Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms & Conditions of the bank.
As per Terms & Conditions of Fixed Deposit Accounts of the Bank, the penal charge on premature closure of Fixed Deposits including partial closure has been fixed by the bank as below on Fixed Deposits booked/ renewed on or after 1st November, 2012 till 19th May,2022.
| Tenure of Fixed Deposit | Penalty |
|---|---|
| Less than 181 days | Nil |
| 181 days and above | 0.50% |
For erstwhile ING Vysya Bank customers the above premature withdrawal penalty slabs will be applicable for Fixed Deposits booked/ Renewed on or after 1st April 2015 till 19th May, 2022.
Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE) with effective from 20th May, 2022
Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms & Conditions of the bank.
As per Terms & Conditions of Fixed Deposit Accounts of the Bank, the penal charge on premature closure of Fixed Deposits including partial closure has been fixed by the bank as below on Fixed Deposits booked/ renewed on or after 20th May, 2022.
| Tenure of Fixed Deposit | Penalty |
| Less than equal to 180 days | Nil |
| Greater than 180 days to less than or equal to 364 days | 0.50% |
| Greater than or equal to 365 days | 1.00% |
Disclosure:
Resident
As per section 194A of Income Tax Act,1961, any person, not being an individual or a Hindu undivided family, who is responsible for paying to a resident any income by way of interest other than income by way of interest on securities, shall, at the time of credit of such income to the account of the payee or at the time of payment thereof in cash or by issue of a cheque or draft or by any other mode, whichever is earlier, deduct income-tax thereon at the rates in force. Accordingly, bank also deducts TDS on interest accrued but not due i.e. for period of last interest paid date till end of financial year and reports the same as per guidelines to Income Tax authority.
Non Resident:
As per section 195 of Indian Income Tax Act, 1961, where any interest is credited in the books of account of the person liable to pay such income, or paid to any account, the tax is required to be deducted at rates in force. Accordingly, bank also deducts TDS on interest accrued but not due i.e. for period of last interest paid date till end of Indian financial year and reports the same as per guidelines to Income Tax authority. On availing DTAA facility, the TDS rate would be applicable as per the country of residence based on the prevailing DTAA Agreement from time to time, subject to proper documents submitted for the same.
