Kotak Mahindra Bank revises fixed deposit rates: New FD rates effective today. Check here

Kotak Mahindra Bank has announced its fixed deposit (FD) interest rates for general and senior citizens on deposits of less than ₹3 crore, effective January 14. The revised rates apply to FDs where premature withdrawal is allowed, covering a wide range of maturity periods from 7 days to 10 years.

For general citizens, FD interest rates now range from 2.75% to 6.70%, while senior citizens can earn higher returns ranging between 3.25% and 7.20%, depending on the tenure.

Short-term deposits of 7 to 30 days offer an interest rate of 2.75% for general citizens and 3.25% for senior citizens. For tenures between 31 and 90 days, rates increase up to 3.50% for general citizens and 4.00% for senior citizens.

For longer tenures, deposits of one year to less than 15 months carry an interest rate of 6.50% for general citizens and 7.00% for senior citizens. The highest rate of 6.70% for general citizens and 7.20% for senior citizens is offered on deposits with maturities between 15 months and less than two years.

For deposits of two to three years, the bank offers 6.50% for general citizens and 7.00% for senior citizens. Rates gradually ease for longer tenures, with deposits of five years to 10 years earning 6.25% for general citizens and 6.75% for senior citizens.

These rates are applicable to retail fixed deposits below ₹3 crore and are subject to change at the bank’s discretion.

Fixed deposit interest rates witnessed a notable downward trend through 2025, largely influenced by successive reductions in the policy repo rate by the Reserve Bank of India (RBI). Over the course of the year, the central bank cut the repo rate by a total of 125 basis points, easing funding costs for banks and allowing them to lower lending rates for customers.