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.

1. Kotak Mahindra Bank Fixed Deposit Rates
2. Kotak Mahindra Bank Interest Rates

Kotak Mahindra Bank Fixed Deposit Rates

Kotak Mahindra Bank Revises Fixed Deposit Rates. Kotak Mahindra Bank has revised their interest rates for fixed deposits which has been effective from 6 September 2019. The current rate of interest for fixed deposits ranges from 3.50% per annum to 6.80% per annum. For interest rates on deposits of Rs. 10 crore and above, please get in touch with the nearest Kotak Mahindra Bank branch - 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. Kotak Mahindra Bank 1 Year Fixed Deposit Rate. Type Fixed: Rate 7.75%: Currency: INR: Interest Rate indicated is based on NRE rates for a period between 12 to 15. Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms &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.

* Recurring Deposit Advice will be dispatched to your registered mailing address with the bank within 3 - 4 working days of opening the RD account

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

Kotak Mahindra Bank Interest Rates

• 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