Kotak Mahindra Bank Fixed Deposit Interest Rate

Fixed Deposit or FD is a good interest rate investment option. Kotak Mahindra Bank offers a Fixed Deposit Account with a high interest rate. Fixed Deposit can open for the duration of a minimum of 7 days and a maximum of ten years. Fixed Deposit gives you a high-interest rate on your deposit amount. The Deposit minimum amount is depending upon the bank.

Benefits of Allahabad Bank Fixed Deposit

  • You get a higher interest rate on your fixed Deposit while comparing with saving accounts.
  • Multiple fixed deposits can open.
  • Kotak Mahindra Bank also gives a loan on your fixed Deposit so that, you don’t need to break your Deposit for your need.
  • You can get an Rs.1.5 lakh exemption under Section 80 C of the Income Tax Act, 1961.
  • If you are a senior citizen, then you will get a high-interest rate on your Fixed Deposit account.

Fixed Deposit Eligibility

  • Fixed Deposits can open the name of Individual, Joint, Society, Company, Partnership, etc.
  • The applicant must have a savings account in the bank.

Income Tax Facts on Kotak Mahindra Bank Fixed Deposit Interest

If you are looking for income tax fact on Fixed Deposit interest, then you can check below:

  • If Fixed Deposit interest is less then Rs. 40, 000/-, then the Kotak Mahindra Bank will deduct TDS on interest.
  • Interest earned on Fixed Deposit is taxable. It will treat as Income from Other Sources.
  • If you don’t want to pay any TDS on Fixed Deposit, then you have to submit Form 15G and Form 15H in Kotak Mahindra Bank.
See also  Lakshmi Vilas Bank Fixed Deposit Interest Rate

Kotak Mahindra Bank Tax Benefit Fixed Deposit

  • Interest Rate is 6.5% for 5 years term deposits.
  • The amount can not withdraw before five years.
  • The deposit account can not transfer to another bank.

Kotak Mahindra Bank Fixed Deposit Interest Rate

Maturity Periods – Premature Withdrawal AllowedLess than Rs.2 Crore#Annualised Yield
7 – 14 Days3.50%3.50%
15 – 30 Days4.00%4.00%
31 – 45 Days4.50%4.50%
46 – 90 Days5.10%5.10%
91 – 120 Days5.25%5.25%
121 – 179 days5.40%5.40%
180 Days5.75%5.75%
181 Days to 269 Days5.80%5.88%
270 Days5.80%5.88%
271 Days to 363 Days6.05%6.14%
364 Days6.05%6.14%
365 Days to 389 Days6.20%6.35%
390 Days (12 months 25 days)6.20%6.35%
391 Days – Less than 23 Months6.20%6.35%
23 Months6.20%6.35%
23 months 1 Day- less than 2 years6.20%6.35%
2 years- less than 3 years6.20%6.35%
3 years and above but less than 4 years6.10%6.24%
4 years and above but less than 5 years6.10%6.24%
5 years and above upto and inclusive of 10 years6.00%6.14%
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Fixed Deposits Interest Rates for Domestic

Maturity Period – Premature Withdrawal AllowedRs. 2 Crore & above but below Rs. 5 Crores #Rs. 5 Crores & above but below Rs. 10 Crores #Rs. 10 Crores & above but below 25 Crores #Rs. 25 Crores & above #
7 – 14 Days4.00%3.80%3.80%3.80%
15 – 30 Days4.00%4.00%4.00%4.00%
31 – 45 Days4.50%4.50%4.50%4.50%
46 – 60 Days5.00%5.00%5.00%5.00%
61 – 90 Days5.00%5.00%5.00%5.00%
91 – 120 Days5.10%5.30%5.30%5.30%
121 – 179 Days5.20%5.30%5.30%5.30%
180 Days5.50%5.50%5.50%5.50%
181 Days to 270 Days5.80%5.60%5.60%5.60%
271 Days to 279 Days4.35%4.25%4.25%4.25%
280 Days to Less than 12 Months5.85%5.60%5.60%5.60%
12 months – less than 15 months6.00%5.60%5.60%5.60%
15 months – less than 18 months6.00%5.60%5.60%5.60%
18 months – less than 2 Years6.00%5.60%5.60%5.60%
2 years and above but less than 3 years6.00%5.60%5.60%5.60%
3 years and above but less than 4 years5.90%5.60%5.60%5.60%
4 years and above but less than 5 years5.90%5.60%5.60%5.60%
5 years and above upto & inclusive of 7 years5.90%5.60%5.60%5.60%
See also  Allahabad Bank Fixed Deposit Interest Rate

INTEREST RATES FOR DOMESTIC

Maturity Period – Premature Withdrawal Not AllowedRs. 2 Crore & above but below Rs. 5 Crores #Rs. 5 Crores & above but below Rs. 10 Crores #Rs. 10 Crores & above But below 25 Crores #Rs. 25 Crores & Above #
91 – 120 DaysNA5.40%5.40%5.40%
121 – 179 DaysNA5.40%5.40%5.40%
180 DaysNA5.60%5.60%5.60%
181 Days to 270 Days5.90%5.70%5.70%5.70%
271 Days to 279 Days4.45%4.35%4.35%4.35%
280 Days to Less than 12 Months5.95%5.70%5.70%5.70%
12 months – less than 15 months6.10%5.70%5.70%5.70%
15 months – less than 18 months6.10%5.70%5.70%5.70%
18 months – less than 2 Years6.10%5.70%5.70%5.70%
2 years and above but less than 3 years6.10%5.70%5.70%5.70%

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