KOTAK Bank FD Calculator
Kotak Mahindra Bank FD Rates for Below Rs. 2 crore - General Public
| Tenure | Interest rate p.a. (General citizens) |
| 7 to 14 Days | 2.5 |
| 15 to 30 Days | 2.65 |
| 31 to 45 Days | 3.25 |
| 46 to 90 Days | 3.25 |
| 91 – 120 Days | 3.75 |
| 121 to 179 days | 3.75 |
| 180 Days | 5 |
| 181 Days to 269 Days | 5 |
| 270 Days | 5 |
| 271 Days to 363 Days | 5 |
| 364 Days | 5.25 |
| 365 Days to 389 Days | 5.75 |
| 390 Days (12 months 25 days) | 6 |
| 391 Days to Less than 23 Months | 6 |
| 23 Months | 6.1 |
| 23 months 1 Day to less than 2 years | 6.1 |
| 2 years to less than 3 years | 6 |
| 3 years to less than 4 years | 6 |
| 4 years to less than 5 years | 6 |
| 5 years to 10 years | 6 |
Note: The interest rates mentioned in the table are as of 6 September 2022.
Kotak Mahindra Bank FD Rates for Below Rs. 2 crore - Senior Citizens
| Tenure | Interest rate p.a. (Senior citizens) |
| 7 to 14 Days | 3 |
| 15 to 30 Days | 3.15 |
| 31 to 45 Days | 3.75 |
| 46 to 90 Days | 3.75 |
| 91 – 120 Days | 4.25 |
| 121 to 179 days | 4.25 |
| 180 Days | 5.5 |
| 181 Days to 269 Days | 5.5 |
| 270 Days | 5.5 |
| 271 Days to 363 Days | 5.5 |
| 364 Days | 5.75 |
| 365 Days to 389 Days | 6.25 |
| 390 Days (12 months 25 days) | 6.5 |
| 391 Days to Less than 23 Months | 6.5 |
| 23 Months | 6.6 |
| 23 months 1 Day to less than 2 years | 6.6 |
| 2 years to less than 3 years | 6.5 |
| 3 years to less than 4 years | 6.5 |
| 4 years to less than 5 years | 6.5 |
| 5 years to 10 years | 6.5 |
Note: The interest rates mentioned in the table are as of 6 September 2022.
Kotak Mahindra Bank Tax Saver Deposit - General Public
| Tenure | Regular Citizens |
| 5 years to 10 years | 6.00% |
Kotak Mahindra Bank Tax Saver Deposit - Senior Citizens
| Tenure | Senior Citizens |
| 5 years to 10 years | 6.50% |
Interest Rates on NRE deposits of less than Rs 2 crore
| Tenure | Interest Rates (% p.a.) |
| 365 days to 389 days | 6 |
| 390 days (12 months 25 days) | 6.25 |
| 391 days to less than 23 months | 6.25 |
| 23 months | 6.25 |
| 23 months 1 day to less than 2 years | 6.25 |
| 2 years to less than 3 years | 6.25 |
| 3 years to less than 4 years | 6.25 |
| 4 years to less than 5 years | 6.25 |
| 5 years to 10 years | 6.25 |
Note: The interest rates mentioned in the table are as of 1 September 2022.
Interest Rates on FCNR (B) Deposits
Interest Rates (% p.a.)
| Maturity | USD (less than 0.5 million) | USD (0.5 million and above) | GBP | EURO | YEN | AUD | SGD |
| 1 year to less than 2 years | 3.75 | 3.75 | 2.5 | 0.49 | NA | 3.25 | 2.54 |
| 2 years to less than 3 years | 3.15 | 3.15 | 2.4 | 0.72 | NA | 3.35 | 2.43 |
| 3 years to less than 4 years | 2.85 | 2.85 | 2.21 | 0.8 | NA | 3.4 | 2.75 |
| 4 years to less than 5 years | 2.6 | 2.6 | NA | NA | NA | NA | NA |
| 5 years only | 2.6 | 2.6 | NA | NA | NA | NA | NA |
Note: The interest rates mentioned in the table are as of 1 September 2022.
Interest rates on RFC Deposits
Interest Rates (% p.a.)
| Maturity | USD (less than 0.5 million) | USD (0.5 million and above | GBP | EURO | YEN | AUD | SGD |
| 30 days to less than 6 months | 1.28 | 1.28 | 0.56 | NA | NA | 0.96 | 0.96 |
| 6 months to less than 1 year | 1.52 | 1.52 | 0.58 | NA | NA | 1.27 | 0.94 |
| 1 year to less than 2 years | 3.75 | 3.75 | 2.5 | 0.49 | NA | 3.25 | 2.54 |
| 2 years to less than 3 years | 3.15 | 3.15 | 2.4 | 0.72 | NA | 3.35 | 2.43 |
| 3 years only | 2.85 | 2.85 | 2.21 | 0.8 | NA | 3.4 | 2.75 |
Note: The interest rates mentioned in the table are as of 1 September 2022.
Kotak Mahindra Bank FD Rates (Above Rs.2 crore)
| Maturity Period – Premature Withdrawal Allowed | Rs. 2 Crore & above but below Rs. 5 Crores | Rs. 5 Crores & above but below Rs. 10 Crores |
| 7 – 14 Days | 3.25% | 3.25% |
| 15 – 30 Days | 3.25% | 3.50% |
| 31 – 45 Days | 3.50% | 3.75% |
| 46 – 60 Days | 3.65% | 4.00% |
| 61 – 90 Days | 4.00% | 4.25% |
| 91 – 120 Days | 4.75% | 4.85% |
| 121 – 179 Days | 4.85% | 5.00% |
| 180 Days | 5.15% | 5.35% |
| 181 Days to 270 Days | 5.15% | 5.35% |
| 271 Days to 279 Days | 3.25% | 3.25% |
| 280Days to less than 12 Months | 5.00% | 5.15% |
| 12 months to less than 15 months | 5.75% | 5.75% |
| 15 months – less than 18 months | 5.85% | 6.00% |
| 18 months – less than 2 Years | 5.85% | 6.00% |
| 2 years and above but less than 3 years | 5.85% | 5.85% |
| 3 years and above but less than 4 years | 5.90% | 5.85% |
| 4 years and above but less than 5 years | 5.90% | 5.85% |
| 5 years and above upto & inclusive of 7 years | 5.90% | 5.85% |
Note: The interest rates mentioned in the table are as of 26 July 2022.
Kotak Mahindra Bank on term deposits above Rs.10 crore
| Maturity Period – Premature Withdrawal Allowed | Rs. 2 Crore & above but below Rs. 5 Crores | Rs. 5 Crores & above but below Rs. 10 Crores |
| 7 – 14 Days | 3.25% | 3.25% |
| 15 – 30 Days | 3.50% | 3.50% |
| 31 – 45 Days | 3.75% | 3.75% |
| 46 – 60 Days | 4.00% | 4.00% |
| 61 – 90 Days | 4.00% | 4.00% |
| 91 – 120 Days | 4.65% | 4.65% |
| 121 – 179 Days | 4.85% | 4.85% |
| 180 Days | 5.15% | 5.15% |
| 181 Days to 270 Days | 5.15% | 5.15% |
| 271 Days to 279 Days | 3.25% | 3.25% |
| 280Days ? to less than 12 Months | 5.15% | 5.15% |
| 365 days ? Less Than 15Months | 5.75% | 5.75% |
| 15 months – less than 18 months | 5.75% | 5.75% |
| 18 months – less than 2 Years | 5.75% | 5.75% |
| 2 years and above but less than 3 years | 5.85% | 5.85% |
| 3 years and above but less than 4 years | 5.85% | 5.85% |
| 4 years and above but less than 5 years | 5.85% | 5.85% |
| 5 years and above up to & inclusive of 7 years | 5.85% | 5.85% |
Note: The interest rates mentioned in the table are as of 10 June 2022.
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Kotak Bank FD Calculator
Fixed deposits are one of India’s most widely used investment instruments as it is safer compared to other options. So, if you want to expand your wealth with the minimal risk you opt for fixed deposits. Kotak fixed deposit scheme offers substantial return at the end of the tenure given the considerable FD interest rate it offers.
Besides, if you want to calculate the interest earnings before investing, an online Kotak FD calculator can be of great help. It allows you to easily calculate the interest earned on your principal amount without any hassle. Let’s find out more.
Kotak Bank Fixed Deposit (FD) Calculator
Kotak Mahindra offers multiple fixed deposit options to individuals with different interest rates. Kotak fixed deposit interest rates range from 2.75% to 7% p.a. for the general public and 3.25% to 7.50% p.a. for senior citizens for investments below ₹2 crore. In fixed deposits, the interest rate varies according to the selected tenure.
So, naturally, when you select a longer period, you can earn a higher interest rate and vice versa. Calculating the total interest amount manually, depending on its tenure, can be a tedious task. In this regard, you can take assistance from an online Kotak FD calculator.
This calculator can conveniently compute all details of your investment return without any hitch. All you need to do is enter different variables like deposit amount, tenure and applicable Kotak FD rates and instantly get an accurate estimation.
How Does the Online Kotak Bank FD Calculator Work?
Using this calculator is simple and involves no complicated procedure. One can simply follow these easy steps:
1. Fill in an investment amount in the “Total Investment” space.
2. Drag the cursor to draw a purple line until it reaches the desired tenure, or you can enter the number of years in the box provided.
3. Now enter the interest rate.
4. Finally, the right of the page will display the “Estimated Return” and “Total Value” against your FD investment within a fraction of a second.
You can also alter fields as per the variations in interest rate, deposit amount, and tenure to get different results.
Fixed deposit interest is calculated in two ways: Simple interest and compound interest.
In the case of compound interest, the required formula is,
A = P (1 + r/n) ^ n*t, where
- “P” represents your fixed deposit investment amount
- “n” denotes the frequency of compounding interest
- “t” represents your investment tenure
- “r” stands for annual Kotak Fixed Deposit rate of interest
Let’s consider an example to learn this calculation effectively.
If you invest ₹10,000 for a tenure of 5 years at an annual interest
rate of 7% in an FD scheme. Here your fixed deposit interest will be:
P = ₹10,000
r = 7%
t = 5
So, A = 10,000 (1 + 7%/1) ^ 1×5
A = ₹14,148.
And the interest earned is A – P, i.e., 14,148-10,000 = ₹4,148.
On the contrary, the formula used for simple interest is:
M= P+ (PXRXT/100)
Here,
- M is your maturity amount
- P denotes the investment amount
- T represents tenure of investment, and
- R is the rate of interest.
Benefits of An Online Kotak FD calculator
Here are some notable advantages of using an online Kotak FD calculator:
- Since manual calculations are error-prone, taking the assistance of these online calculators will eliminate such issues. Upon entering different figures, it will provide a precise estimation.
- You can choose a suitable tenure after comparing the rates that are offered in different tenures.
- Kotak fixed deposit calculator is a viable option for planning your long-term and short-term investment goals. The maturity and interest amount will help you choose a suitable FD scheme as per your financial goals.
- Using this online calculator does not include any additional charges. This tool is readily available on various websites; you can simply visit these websites to access them. Also, you can use it as many times as you want.
With Upstox Kotak fixed deposit calculator, it is now simple to calculate and compare maturity amounts for different tenures and corresponding FD rates without any hiccups. This calculator is a great tool to plan your investment goals and make informed financial decisions.
Frequently Asked Questions
What are the minimum and maximum tenure options of Kotak Bank FDs?
One can choose a deposit tenure from 7 days to as long as 10 years while investing in the Kotak Bank FDs.
What are the minimum and maximum deposit amount to start a fixed deposit?
At Kotak Bank, you can start a fixed deposit with a minimum amount ₹5000. However, Kotak has not set any maximum FD investment amount.
What is the highest interest rate on Kotak FD?
Right now, the highest FD rate for Kotak Bank is 7% for general citizens and 7.50% for the senior citizens for investments below ₹2 crore.
Does Kotak Bank provide Tax Saver Fixed Deposits?
Yes, the bank provides tax saver fixed deposits. With its tax saving term or fixed deposit, you can earn higher returns along with the benefit of saving tax. The minimum booking period is 5 years while the maximum tenure is 10 years. You cannot withdraw before the lock-in period of 5 years.
Is there any penalty for premature withdrawal for FDs in Kotak?
This bank does not charge any penalty fee for premature withdrawal in less than 181 days. Moreover, for 181 days or more, the bank charges 0.5% as a penalty fee for premature withdrawal.
In how many years will my FD investment double in Kotak Bank?
The maturity value depends on your tenure chosen and rate of interest. Using the rule of 72, you can calculate the number of years it will need to double Kotak FD investment amount. To calculate it, you need to divide 72 by rate of interest levied on your investment amount. Let’s say the interest offered on FD is 7.05%; then it will take 72/7.05= 10.21 years to double your deposit amount.
Does Kotak provide loans against FDs?
Yes, this bank provides loans to depositors against their FDs opened with Kotak Bank. Additionally, it offers loans against deposit standing to minors. You need to provide the necessary documents in support of your application.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.