Compare Interest Rates Offered by Kotak Mahindra Bank

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#Simple interest rate
*Senior Citizens' rate is not applicable on NRO/NRE deposits
***101Days-120Days: Premature withdrawal of deposit is not permitted in this bucket for amount 1Cr and above.
No interest will be payable for NRE TDs staying less than 1 year.
For Term Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
Standalone Term 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 above.
For ActivMoney (2 way sweep deposits) Regular Term 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's Treasury.
Interest on Term Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per RBI directives
Kindly note that the above rates are applicable for mentioned dates only and are subject to change without prior notice

Important: Penal Charge on Pre-mature withdrawal of Term 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Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms &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 Term Deposit Accounts of the Bank, the penal charge on premature closure of term deposits including partial closure has been fixed by the bank as below on term deposits booked/ renewed on or after 1st November, 2012.

Tenure of Term Deposit Penalty
Less than 181 days Nil
181 days and above 0.50%

In addition to the above, no interest will be paid on the principal amount withdrawn from NRE term deposits before completion of one year.



Note: Interest rates are subject to periodic changes. The applicable interest rates will be offered based on the date and time of receipt of the funds by the bank.
*Recurring Deposit Advice will be dispatched to your registered mailing address with the bank within 3 - 4 working days of opening the RD account
Not available for Non Resident Indians / Persons Of Indian Origin

Penalty on delay in payment of RD installment

In case of delay in payment of any installment post grace period of 5 days, penal interest at the rate of RD interest rate (contracted rate of interest at the time of booking of the RD) + 2% p.a. or such other rate as may be specified by Bank from time to time, will be charged for the month of delay.
Fraction of a month will be treated as full month for the purpose of calculating such interest.
Even if the payment for the month is honoured, but the standing instruction towards installment recovery has failed, the Bank will recover a standing instruction failure charge from the current / savings bank account as per General Features and Schedule of Charges (GFSC)
The total penal interest chargeable shall be recovered from the total amount of interest payable by the bank and shall be recovered only at the time of maturity or premature closure of the account as the case may be.

Premature Withdrawal of RD

In case of premature closure of this deposit within a month, no interest shall be paid and only principal amount will be returned.
On premature withdrawal of RD. The interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower post deducting penal charge of 0.5% on premature withdrawal of deposit


  • Minimum tenure to book FCNR (B) deposit is 1 year & 1 day
  • No interest would be paid if the said deposit is pre-closed in less than a year.
  • Premature penalty of 0.5% of FCNR (B) deposit would be charged on withdrawal of FCNR (B) deposit.
  • It may not be advisable to withdraw the deposit, which is placed for original maturity of 3 years and above, prematurely


*Rates for Senior Citizen category not available for FCNR Deposits.
No interest will be payable for FCNR Deposits staying less than 1 year.
Interest rate subject to change without prior notice.