Get Kotak League Platinum Credit Card & earn 8X reward Points on your every spends of Rs.150 across all categories.
Know More
Interest rates for our personal banking products including terms deposits, loans and savings accounts. Select the type of product you're looking for.
Savings Bank A/c |
||
Nature |
Rate of Interest |
|
For balances upto Rs. 50 lakhs |
For balances above Rs. 50 lakhs |
|
A. Domestic (W.e.f. June 13, 2022) |
3.50% p.a. |
4% p.a. |
B. Non Resident (NRE/NRO) |
3.50% p.a. |
3.50% p.a. |
|
||
The bank offers floating rate linked savings deposit. Details of the same are as under :
Up to Rs. 50 Lakh |
3.5% p.a. |
Above Rs. 50 lakh and up to Rs 100 crore |
4% p.a. |
# Above Rs. 100 crore and up to Rs 600 crore* |
MIBOR + 5.2 bps p.a. |
# Above Rs. 600 crore and up to Rs 1000 crore* |
MIBOR + 50 bps p.a. |
# Above Rs. 1000 crore* |
MIBOR +70 bps p.a. |
*Note:
#The above rates are effective from 5th January’23
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.
Disclaimer : Premature withdrawal Not Allowed Deposit
#Simple interest rate
*Senior Citizens' rate is not applicable on Domestic/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
- 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.
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% |
Floating Rate Linked Term Deposits
The bank offers Floating Rate Linked Term Deposit for amount Rs. 5cr and above, details of the same are as under :
Maturity Periods |
Rate |
|---|---|
90 - 180 days |
Repo + 25 bps |
181 – 364 days |
Repo + 50 bps |
365 – 730 days |
Repo + 85 bps |
Note:
Disclaimer
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
| FCNR (B) Interest rates are effective from the date of 01 September 2023 | ||||||||||
| Maturity | USD (< 0.5 mio) |
USD (>= 0.5 mio) |
GBP | EURO | AUD | SGD | ||||
1 Year-Less than 2 Year |
5.65% |
5.65% |
5.50% |
3.85% |
4.55% |
3.85% |
||||
2 years -Less than 3 Year |
4.60% |
4.60% |
5.20% |
2.95% |
3.95% |
3.05% |
||||
3 Year-Less than 4 year |
3.90% |
3.90% |
4.55% |
2.40% |
3.50% |
No Quote |
||||
4 Year-Less than 5 Year |
3.50% |
3.50% |
No Quote |
No Quote |
No Quote |
No Quote |
||||
5 Years Only |
3.50% |
3.50% |
No Quote |
No Quote |
No Quote |
No Quote |
||||
* Rates for Senior Citizen category not available for FCNR Deposits.
No interest will be payable for FCNR Deposits staying less than 1 year.
Acceptance of deposits of USD 1 mio and above [or equivalent] is at the discretion of the Bank.
| RFC Deposit Interest rates are effective from the date of 01 September, 2023 | ||||||||||
RFC Deposit |
USD (< 0.5 mio) | USD (≥ 0.5 mio) | GBP |
EURO |
AUD |
SGD |
||||
30 days - Less than 6 months |
0.75% |
0.75% |
0.65% |
No Quote |
0.01% |
0.01% |
||||
6 months - Less than 1 Year |
1.50% |
1.50% |
1.50% |
No Quote |
0.01% |
0.01% |
||||
1 Year-Less than 2 years |
5.65% |
5.65% |
5.50% |
3.85% |
4.55% |
3.85% |
||||
2 year -Less than 3 Year |
4.60% |
4.60% |
5.20% |
2.95% |
3.95% |
3.05% |
||||
3 Years Only |
3.90% |
3.90% |
4.55% |
2.40% |
3.50% |
No Quote |
||||
Eligibility for RFC Deposit:
Please Note : For all RFC deposits [for maturity of less than and greater than 1 year], 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 [with floor of 0].
| Rate of Interest | Processing Fees (excluding GST) |
|||
|---|---|---|---|---|
| Customer Type | Effective Rate Of Interest | RR + Spread | ||
| Housing Loan* | Floating Category (Repo Rate: 6.50%) | |||
| For Salaried individuals | 8.75% - 9.35% |
- | Upto 0.50% |
|
| For Self Employed | 8.80% - 9.60% |
- | Upto 1.00% | |
| Business Loan | 16.00 % to 19.99% | - | Upto 2.00% | |
| Personal Loan | For Salaried Individuals | 10.25% to 24% | Fixed Rate | Upto 2.00% |
| Disclaimer: View the latest MCLR rates here *Terms and Conditions Apply |
||||
| 6. Click here for Master Facility Agreement Document | ||||
| 7. Click here Interest Rate Range of Contracted Loans for the past quarter to Individual Borrowers | ||||
| The Annual Percentage Rate (APR) is a method to compute annualized credit cost, which includes interest rate and processing fee. To calculate the same, please click here to download the APR calculator. | ||||
Loan Against Property
| SLAB | Women Borrower as Main Applicant | MCLR + Mark Up | Others | MCLR + Mark Up |
| Less than 2 cr | 9.5 - 11.55 | 6mclr + (1.15 + 3.20) | 9.6 - 11.65 | 6mclr + (1.25 + 3.30) |
| More than 2cr | 9.55 - 11.60 | 6mclr + (1.20 + 3.25) | 9.65 - 11.70 | 6mclr + (1.30 + 3.35) |
| SLAB | Women Borrower as Main Applicant | EBLR + Mark Up | Others | EBLR + Mark Up |
| Less than 2 cr | 9.5 - 11.55 | RR + (4.35 + 6.40) | 9.6 - 11.65 | RR + (4.45 + 6.50) |
| More than 2cr | 9.55 - 11.60 | RR + (4.40 + 6.45) | 9.65 - 11.70 | RR + (4.50 + 6.55) |
| Business | Rate of Interest |
| CV (Commercial Vehicle) Group |
24% |
| CE (Construction Equipment) |
24% |
| TFE (Tractor and Farm Equipment) |
26% |
| GLN (Gold Loan) |
8% to 17% depending on purpose & profile and discretion of bank |
| For Savings Accounts | Issue (INR) | Rs. 2.5 per 1000 Min Rs. 50 Max Rs. 10, 000 |
| Cancellation (INR) | Rs. 100 | |
| For Current Accounts | Issue (INR) | At Branch Locations - Re 1/1000 (Min 40 Max 5000) & at Non - branch locations Rs. 2/1000 (Min 40 Max 5000); Foreign Currency DD - Rs 500 per DD + Foreign Currency Conversion Charge. |
| Cancellation (INR) | Rs 100 per INR DD; for Foreign currency DD Rs 500 + Foreign currency conversion charge |
| Savings Account | For Branch Locations (Non-Speed clearing locations): Free |
| For Non Branch Locations (Non- Speed clearing locations) : Free | |
| Current Account | INR cheques upto Rs. 10000: Rs. 50 per cheque; Rs. 10001 - Rs. 100000: Rs. 100 per cheque; Rs. 100001 & above: Rs. 150 per cheque. For foreign currency cheques Rs 500 per cheque |
| Charges for Outstation INR Cheque Collection are exclusive of service tax. | |
| For Savings Accounts | Inward | Free |
| Outward | Free (Through MobileBanking & Net Banking) and Through Branch - Up to 10000: 2.50, 10001 to 100000:5; 100001 to 200000:15; > 200000 : 25 (Small account holder can do NEFT upto 10000) |
|
| For Current Accounts | Inward | Free |
| Outward | Upto Rs. 1 Lakh: Rs. 5 per Txn; Rs. 1 Lakh & above: Rs. 25 per Txn | |
| Charges for NEFT are exclusive of service tax. | ||
| Savings Accounts | Inward | Free |
| Outward | Free (Through MobileBanking & Net Banking) and Through Branch - Rs. 200001- 500000: Rs 25 per Txn; > 500000: Rs 50 per Txn; |
|
| Current Accounts | Inward | Free |
| Outward | Free (If done through Net banking); Charged - if done through branch @ Rs. 1- 5 Lakhs: Rs 25 per Txn; Rs. 5 Lakhs & Above: Rs 50 per Txn; | |
| Charges for NEFT are exclusive of service tax. | ||
| Cheque Return Charges | Outward Returns | Inward Returns |
|---|---|---|
| For Savings Account (INR) | Rs. 100/- per instance | Rs. 500/- per instance |
| For Current Accounts / Overdraft, Cash Credit Accounts | Rs.100/ cheque. For out-station cheques, corr bank charges shall be extra | Financial Reason: upto 3 returns - 350 /instance; 4th return onward 750/instance |
| Savings Account | For BSBDA & Small Account, first cheque book of 5 leaves Free, thereafter charged @ Rs. 5 per cheque leaf. Edge, Nova and Synergy Savings Account 25 leaves per quarter Free thereafter it is charged @ Rs. 1.5 per leaf. For all other Accounts it is Free. |
| Current Account | Free for all accounts except Neo, Edge & Synergy A/c where beyond free limit it is charged @ Rs.2/- per leaf. Default cheque book is at-par cheque book. |
Rupee Floating Rate personal loans, retail loans and loans to Micro and Small Enterprises [MSE] - sanctioned and / or renewed on or after October 1, 2019 and loans to Medium Enterprises sanctioned and/or renewed on or after April 1, 2020 will be linked to the RBI Policy Repo Rate. Other Rupee Floating rate loans [excluding exceptions permitted by RBI] will, at the discretion of the Bank, be linked to either internal benchmark rate/s [K-MCLRs] or the external benchmarks [as per loan categories]
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
At your request, you are being re-directed to a third party site - https://www.billdesk.com/pgmerc/kotakcard/ wherein you can make your payment from a different bank account. Kotak Cards does not guarantee or warrant the accuracy or completeness of the information, materials, services or the reliability of any service, advice, opinion statement or other information displayed or distributed on the third party site. You shall access this site solely for purposes of payment of your bills and you understand and acknowledge that availing of any services offered on the site or any reliance on any opinion, advice, statement, memorandum, or information available on the site shall be at your sole risk. Kotak Cards and its affiliates, subsidiaries, employees, officers, directors and agents, expressly disclaim any liability for any deficiency in the services offered by BilIDesk whose site you are about to access. Neither Kotak Cards nor any of its affiliates nor their directors, officers and employees will be liable to or have any responsibility of any kind for any loss that you incur in the event of any deficiency in the services of BiIIDesk to whom the site belongs, failure or disruption of the site of BilIDesk, or resulting from the act or omission of any other party involved in making this site or the data contained therein available to you, or from any other cause relating to your access to, inability to access, or use of the site or these materials.
Note: Available in select banks only. Kotak Cards reserves the right to add/delete banks without prior notice. © Kotak Mahindra Bank. All rights reserved
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
By clicking on the hyper-link, you will be leaving www.kotak.com and entering website operated by other parties. Kotak Mahindra Bank does not control or endorse such websites, and bears no responsibility for them.
