INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL ALLOWED

Domestic & NRO Fixed Deposit Rates

Retail Fixed Deposit Rates for Domestic & NRO Fixed Deposits - w.e.f. 27-Feb-24
Less than
Maturity Periods Annualised Yield
Rs.2 Crore#
7 - 14 Days 2.75% 2.75%
15 - 30 Days 3.00% 3.00%
31 - 45 Days 3.25% 3.25%
46 - 90 Days 3.50% 3.50%
91 - 120 Days 4.00% 4.00%
121 - 179 Days 4.25% 4.25%
180 Days 7.00% 7.00%
181 Days to 269 Days 6.00% 6.09%
270 Days 6.00% 6.09%
271 Days - 363 Days 6.00% 6.09%
364 Days 6.50% 6.61%
365 Days - 389 Days 7.10% 7.29%
390 Days (12months 25Days) 7.40% 7.61%
391 Days -Less than 23 Months 7.40% 7.61%
23 months 7.30% 7.50%
23 months 1 Day- less than 2 years 7.30% 7.50%
2 years- less than 3 years 7.15% 7.34%
3 years and above but less than 4 years 7.00% 7.19%
4 years and above but less than 5 years 7.00% 7.19%
5 years and above upto and inclusive of 10 years 6.20% 6.35%

Domestic Retail Sr. Citizen Fixed Deposit Rates w.e.f. 27-Feb-24

Less than Rs.2
Maturity Periods Annualised Yield
Crore#
7 - 14 Days 3.25% 3.25%
15 - 30 Days 3.50% 3.50%
31 - 45 Days 3.75% 3.75%
46 - 90 Days 4.00% 4.00%
91 - 120 Days 4.50% 4.50%
121 - 179 Days 4.75% 4.75%
180 Days 7.50% 7.50%
181 Days to 269 Days 6.50% 6.61%
270 Days 6.50% 6.61%
271 Days - 363 Days 6.50% 6.61%
364 Days 7.00% 7.12%
365 Days - 389 Days 7.60% 7.82%
390 Days (12months 25Days) 7.90% 8.14%
391 Days -Less than 23 Months 7.90% 8.14%
23 months 7.85% 8.08%
23 months 1 Day- less than 2 years 7.85% 8.08%
2 years- less than 3 years 7.65% 7.87%
3 years and above but less than 4 years 7.60% 7.82%
4 years and above but less than 5 years 7.60% 7.82%
 5 years and above upto and inclusive of 10 years 6.70% 6.87%

NRE Fixed Deposit Rates

NRE Term Deposit Rates with effect from 27-Feb-24

Less than
Maturity Periods
Rs.2 Crore#
365 Days - 389 Days 7.10%
390 Days (12 months 25 days) 7.40%
391 Days -Less than 23 Months 7.40%
23 months 7.30%
23 months 1 Day- less than 2 years 7.30%
2 years- less than 3 years 7.15%
3 years and above but less than 4 years 7.00%
4 years and above but less than 5 years 7.00%
5 years and above upto and inclusive of 10 years 6.20%

Recurring Deposit Rates

Recurring Deposit Rates effective from 27-Feb-24

Senior
Maturity Periods for Recurring Deposit Regular
Citizens
6 Months 6.00% 6.50%
9 Months 6.00% 6.50%
12 months 7.10% 7.60%
15 months 7.40% 7.90%
18 months 7.40% 7.90%
21 months 7.40% 7.90%
24 months 7.15% 7.65%
27 months 7.15% 7.65%
30 months 7.15% 7.65%
33 months 7.15% 7.65%
3 years and above but less than 4 years 7.00% 7.60%
4 years and above but less than 5 years 7.00% 7.60%
5 years and above upto and inclusive of 10 years 6.20% 6.70%

Disclaimer
#
Simple interest rate. *Senior Citizens' rate is not applicable on NRO/NRE deposits. 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.
 No interest will be payable for NRE FDs 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
Citizens / Bank Staff.
 Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest pay out) 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. For latest rates
 please refer the bank’s website www.kotak.com
The calculation of interest is basis 365 days in a non-leap year and 366 days in a leap (calendar) year.
 Recurring Deposits not available for Non Resident Indians / Persons of Indian Origin.
 Minimum Tenure of Recurring Deposit will be 6 months and in multiples of 3 months up to a maximum of 10 years
 TDS will be applicable on the interest earned at prevailing rate
 Maximum Value of RD per month for tenor greater than 36 months is restricted to Rs.25,000/- For Tenor up to 36
months the Maximum RD value per month is restricted to Rs.1,00,000/-
 For details on penalty applicable for premature withdrawal of Recurring Deposit & penalty on delay in payment of
recurring deposit instalment please refer the Recurring Deposit section at www.kotak.com.
 For detailed terms and conditions with respect to fixed deposits and recurring deposits please refer the terms and
conditions section at the bank’s website.

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 revised by the bank w.e.f 20th May 2022 for Fixed Deposits booked/
renewed on or after 20th May, 2022.

Tenure of Fixed Deposit Penalty

Less than 181 days Nil
Greater than 180 days to less than 12 months 0.50%
Greater than 12 months 1.00%