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Principal
Total Interest
Total Interest :
₹49,919
Maturity Amount :
₹1,19,80,558
Deposit Amount :
₹69,80,558
The Kotak Mahindra Bank FD Calculator on the CreditMantri website is an easy to use tool that can be used to compute the interest and the maturity value on your fixed deposit. You can therefore identify how much can be earned from the fixed deposit before investing.
How to Use CreditMantri’s Calculator for Kotak Mahindra FD?
- Step 1: Enter the amount that you desire to invest in the fixed deposit.
- Step 2: Enter the rate of interest offered by the bank on the FD
- Step 3: Enter the tenure of the deposit
- Step 4: The maturity amount and the interest accrued will be computed by the calculator and shown instantaneously.
Interest Rates on Kotak Mahindra Fixed Deposits
Kotak Mahindra FD interest rates across various deposit amounts are given in the tables below
Interest Rates for Domestic/NRO/NRE Fixed Deposits less than Rs. 2 crores.
(Premature withdrawal is allowed)
| Maturity Period | Regular Citizens | Senior Citizens | ||
|---|---|---|---|---|
| Interest Rates | Annualised Yield | Interest Rates | Annualised Yield | |
| 7 to 14 days | 2.75% | 2.75% | 3.25% | 3.25% |
| 15 to 30 days | 3.00% | 3.00% | 3.50% | 3.50% |
| 31 to 45 days | 3.25% | 3.25% | 3.75% | 3.75% |
| 46 to 90 days | 3.50% | 3.50% | 4.00% | 4.00% |
| 91 to 120 days | 4.00% | 4.00% | 4.50% | 4.50% |
| 121 to 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) | 7.40% | 7.61% | 7.90% | 8.14% |
| 391 days to less than 23 months | 7.40% | 7.61% | 7.90% | 8.14% |
| 23 months | 7.30% | 7.50% | 7.85% | 8.08% |
| 23 months 1 day - less than 2 years | 7.30% | 7.50% | 7.85% | 8.08% |
| 2 years to less than 3 years | 7.15% | 7.34% | 7.65% | 7.87% |
| 3 years and more but < 4 years | 7.00% | 7.19% | 7.60% | 7.82% |
| 4 years and over but < 5 years | 7.00% | 7.19% | 7.60% | 7.82% |
| 5 years and above upto and including 10 years | 6.20% | 6.35% | 6.70% | 6.87% |
Note : The rates given in the table below are effective from 27th February 2024.
Interest Rates for Domestic/NRO/NRE Fixed Deposits = or > Rs. 2 crores but < Rs. 10 crores.
(Premature withdrawal is allowed).
| Maturity Period | Interest Rates for Regular Citizens | Interest Rates for Senior Citizens |
|---|---|---|
| 7 to 14 days | 4.25% | 4.25% |
| 15 to 30 days | 4.40% | 4.40% |
| 31 to 45 days | 5.00% | 5.00% |
| 46 to 60 days | 5.25% | 5.25% |
| 61 to 90 days | 5.95% | 5.95% |
| 91 to 120 days | 6.15% | 6.15% |
| 121 to 179 days | 6.50% | 6.50% |
| 180 days | 7.00% | 7.00% |
| 181 days to 270 days | 6.85% | 6.85% |
| 271 days to 279 days | 5.75% | 5.75% |
| 280 days to 364 days | 7.00% | 7.00% |
| 365 days to less than 15 months | 7.50% | 7.90% |
| 15 months to less than 18 months | 7.40% | 7.75% |
| 18 months to less than 2 years | 7.30% | 7.65% |
| 2 years and more < 3 years | 7.10% | 7.10% |
| 3 years and more < 4 years | 6.65% | 6.65% |
| 4 years and over but < 5 years | 6.35% | 6.35% |
| 5 years and above up to and inclusive of 7 years | 6.25% | 6.25% |
Note : The rates given in the table below are effective from 19th April 2024.
Interest Rates for Domestic/NRO/NRE Fixed Deposits of Rs. 10 Crores and above
(Premature withdrawal is allowed)
| Maturity Period | Rs. 10 crores and more but below 25 crores | Rs. 25 crores and more but below 100 crores | Rs. 100 crores and above but below 300 crores | Rs. 300 crores and above |
|---|---|---|---|---|
| 7 to 14 days | 4.50% | 4.50% | 4.50% | 4.50% |
| 15 to 30 days | 5.00% | 5.00% | 5.00% | 5.00% |
| 31 to 45 days | 5.50% | 5.50% | 5.50% | 5.50% |
| 46 to 60 days | 5.75% | 5.75% | 5.75% | 5.75% |
| 61 to 90 days | 6.60% | 6.60% | 6.60% | 6.60% |
| 91 to 120 days | 7.00% | 7.00% | 7.00% | 7.00% |
| 121 to 179 days | 7.05% | 7.05% | 7.05% | 7.05% |
| 180 days | 7.10% | 7.10% | 7.10% | 7.10% |
| 181 days to 270 days | 7.20% | 7.20% | 7.20% | 7.20% |
| 271 days to 279 days | 5.90% | 5.90% | 5.90% | 5.90% |
| 280 days to 364 days | 7.45% | 7.25% | 7.25% | 7.25% |
| 365 days to less than 15 months | 7.60% | 7.40% | 7.40% | 7.40% |
| 15 months to less than 18 months | 7.30% | 7.30% | 7.30% | 7.30% |
| 18 months to less than 2 years | 7.25% | 7.25% | 7.25% | 7.25% |
| 2 years and over but < than 3 years | 7.15% | 7.15% | 7.15% | 7.15% |
| 3 years and over but less than 4 years | 7.00% | 7.00% | 7.00% | 7.00% |
| 4 years and over but < 5 years | 6.50% | 6.50% | 6.50% | 6.50% |
| 5 years to 7 years (including 7 years) | 6.25% | 6.25% | 6.25% | 6.25% |
Note : The rates given in the table below are effective from 19th April 2024.
Interest Rates for Domestic/NRO/NRE Fixed Deposits of Rs. 2 Crores and above - Premature withdrawal not allowed
| Maturity Period | Rs. 2 crores and above but < Rs. 10 crores | Rs. 10 crores and above but < Rs. 25 crores | Rs. 25 crores and above but < Rs. 100 crores | Rs. 100 crores and above but < Rs. 300 crores | Rs. 300 crores and above |
|---|---|---|---|---|---|
| 91 to 120 days | NA | 7.15% | 7.15% | 7.15% | 7.15% |
| 121 to 179 days | NA | 7.20% | 7.20% | 7.20% | 7.20% |
| 180 days | NA | 7.25% | 7.25% | 7.25% | 7.25% |
| 181 days to 270 days | 7.05% | 7.40% | 7.40% | 7.40% | 7.40% |
| 271 days to 279 days | 5.95% | 6.30% | 6.30% | 6.30% | 6.30% |
| 280 days to 364 days | 7.20% | 7.45% | 7.45% | 7.45% | 7.45% |
| 365 days to less than 15 months | 7.70% | 7.60% | 7.60% | 7.60% | 7.60% |
| 15 months to less than 18 months | 7.60% | 7.50% | 7.50% | 7.50% | 7.50% |
| 18 months to less than 2 years | 7.50% | 7.45% | 7.45% | 7.45% | 7.45% |
| 2 years and more < 3 years | 7.30% | 7.35% | 7.35% | 7.35% | 7.35% |
| 3 years and more but < 4 years | NA | NA | NA | NA | NA |
| 4 years and over but < 5 years | NA | NA | NA | NA | NA |
Note : The rates given in the table below are effective from 19th April 2024.
Disclaimer:The interest rates in all the tables given above are as of 10th May 2024 when this page was written and are subject to change. For exact rates, contact the bank or refer to the bank’s website.
Features and Benefits of Kotak Mahindra Fixed Deposits
-
Kotak Mahindra Fixed Deposits are safe to invest in.
-
Kotak Mahindra FDs come with attractive interest rates.
-
Senior citizens get an additional interest rate of 0.50% on FDs.
-
The minimum amount required to start a fixed deposit is as low as Rs. 5000.
-
Under Section 80C, you can earn tax savings of upto Rs. 1.5 lakhs per financial year.
-
Flexibility is offered in the tenure of FDs, and the options range from 7 days to 10 years.
-
The interest payout option is flexible and can be received quarterly, monthly, or only at the time of maturity.
-
Partial or premature withdrawal of fixed deposit is allowed.
-
Kotak FDs provide a nomination facility.
-
Kotak FDs allow liquidity through sweep-in facility.
-
Overdraft facility can be availed against Kotak Mahindra Bank FDs.
-
Kotak Mahindra Bank has a flexible eligibility criteria. You can either be an Indian national, an NRI, a senior citizen, or a member of HUF to qualify for investing in Kotak FDs.
-
FDs for minors can also be opened under the supervision of a guardian
Read all about senior citizen FDs here
Penalties for pre-mature Withdrawal of Fixed Deposits (Domestic/NRO/NRE)
Premature closure of fixed deposits both full and partial is allowed. However, the interest will be paid at the rate present on the deposit date for the time the deposit remained with the bank or at the contracted rate, whichever is lesser after reducing the penal charges applicable according to the terms and conditions of the bank.
The penal charges for fixed deposits booked or renewed on or after 20th May, 2022 are as given below:
| Duration of Fixed Deposit | Penalty |
|---|---|
| Less than or equal to 180 days | Nil |
| Greater than 180 days - less than or equal to 364 days | 0.50% |
| Greater than or equal to 365 days | 1.00% |
Disclaimer:The penal charges are as of 10th May 2024 when this page was written and are subject to change. For exact charges, contact the bank or refer to the website of the bank.
How to Compute the Maturity Value and the Interest on Kotak Mahindra FD?
The formula used for computing the maturity value of a Kotak Mahindra FD is given by
M = P (1 + r/n) ^ n*t
Where M is the maturity value
P is the amount invested monthly
R is the annual rate of interest
N is the number of times the interest is compounded. If the interest is compounded quarterly, n is 4. If the interest is compounded half-yearly, it is 2, and so on.
t is the tenure of the deposit.
Let us take an example: Say you have invested Rs. 7000 in an SBI Bank FD for 2 years at an interest rate of 3% compounded yearly, then,
The maturity value is computed as follows:
Maturity value = 7000 (1 + 3%/1) ^ (1*2)
= 7000 (1 + 0.03)^(2)
= 50,000 (1.04)^0.333
= 50657.30
Interest accrued = 50,657.30 - 50,000
= Rs. 657.30
The task of computing the maturity amount and the interest accrued from the Kotak Mahindra Bank FD manually can be hectic and may require a lot of time and energy. However, if you use the Kotak Mahindra Bank FD calculator, the results will be displayed in a few seconds.
Kotak Bank Fixed Deposit Calculator FAQs
1) What is the tax deducted on Kotak fixed deposit?
If the interest accrued by you on all your fixed deposits in a year is more than Rs. 40,000, the TDS deducted will be at the rate of 10%. If your PAN is not updated with Kotak Bank, twice the TDS will be deducted at the rate of 20%. So, it is important to update your PAN details on your FD. The taxable income for the year is the sum of the interest earned across all Kotak Bank FDs and other FDs. The income tax payable is based on the income bracket under which this taxable income falls.
2) What are the term-wise fixed deposit interest rates for Kotak?
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Short-term FD rate: Kotak Mahindra Bank's short-term FDs have a tenure ranging from 7 days to 365 days. The tenure is less than 1 year. The interest rate offered is between 2.50% p.a. to 4.40% p.a.
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Medium-term FD rate: Medium-term fixed deposits have a tenure ranging from 1 year to 5 years. The interest rate offered is in the range of 4.50% p.a. to 5.25% p.a.
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Long-term FD rate: Long-term fixed deposits have a tenure ranging from 5 years to 10 years. The interest rate offered is 5.30% p.a.
Disclaimer : This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.