Kotak Mahindra Bank has revised its fixed deposit (FD) interest rates, reducing them by up to 15 basis points (bps) on select tenures. This marks the bank’s first FD rate cut since June 14, 2024. The revised rates are effective from April 9, 2025.Following the latest revision, Kotak Mahindra Bank now offers FD interest rates ranging from 2.75% to 7.30% for general citizens and 3.25% to 7.80% for senior citizens. Earlier, the bank offered interest rates between 2.75% and 7.40% for regular customers and 3.25% and 7.90% for senior citizens.
Also read: After YES Bank, this bank cuts FD interest rate; check details
This revision comes at a time when interest rate movements are being closely monitored by investors and depositors amid evolving economic conditions.The Reserve Bank of India (RBI) has reduced the repo rate by 25 basis points, which could potentially lead to a further decline in interest rates on fixed deposits.
Kotak Mahindra Bank: Tenures on which FD interest rates have been cut
On the 390-day tenure (12 months and 25 days), Kotak Mahindra Bank has reduced the FD interest rate by 15 basis points (bps), bringing it down from 7.40% to 7.25%. For tenures ranging from 391 days to less than 23 months, the FD rate has been cut by 10 bps—from 7.40% to 7.30%. On the exact 23-month tenure, the FD interest rate has been lowered by 5 bps, from 7.30% to 7.25%. For the tenure of 23 months and 1 day to less than 2 years, the bank has implemented a 15 bps cut, reducing the FD rate from 7.30% to 7.15%.
| Regular | Senior Citizen* | |
| Maturity Periods – Premature Withdrawal Allowed | Less than Rs.3 Crore# | Less than Rs.3 Crore# |
| 7 – 14 Days | 2.75% | 3.25% |
| 15 – 30 Days | 3.00% | 3.50% |
| 31 – 45 Days | 3.25% | 3.75% |
| 46 – 90 Days | 3.50% | 4.00% |
| 91 – 120 Days | 4.00% | 4.50% |
| 121 – 179 days | 4.25% | 4.75% |
| 180 Days | 7.00% | 7.50% |
| 181 Days to 269 Days | 6.00% | 6.50% |
| 270 Days | 6.00% | 6.50% |
| 271 Days to 363 Days | 6.00% | 6.50% |
| 364 Days | 6.50% | 7.00% |
| 365 Days to 389 Days | 7.10% | 7.60% |
| 390 Days (12 months 25 days) | 7.25% | 7.75% |
| 391 Days – Less than 23 Months | 7.30% | 7.80% |
| 23 Months | 7.25% | 7.75% |
| 23 months 1 Day- less than 2 years | 7.15% | 7.65% |
| 2 years- less than 3 years | 7.15% | 7.65% |
| 3 years and above but less than 4 years | 7.00% | 7.50% |
| 4 years and above but less than 5 years | 7.00% | 7.50% |
| 5 years and above upto and inclusive of 10 years | 6.20% | 6.70% |
#Simple interest rate
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According to the bank, “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.”
| 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% |
