Before discussing about Kotak bank recurring deposit interest rates let us have a look at its historical background. Kotak Mahindra group has been one of India’s most reputed financial Institution established in 1985. In February 2003, Reserve Bank of India has given the license to carry on banking business in India. Kotak Mahindra Finance Ltd. Created banking history as it is the first non–banking finance company in India to convert itself in to a bank as Kotak Mahindra Bank Ltd. Bank has a headquarter in Mumbai.
Kotak Mahindra Bank Ltd. (KMBL) provides various services like commercial banking, stock broking, mutual funds, life insurance and investment banking. The bank has its subsidiary office in London, New York, Dubai, Mauritius, San Francisco and Singapore. The main purpose of these offices is to provide services to overseas investors seeking to invest into India. In the year 2011, Kotak Mahindra Bank launches interbank mobile payment service. KMBL acquired ING Vysya Bank in Rs. 150 billion in the year 2015.
Now let us come to Kotak Mahindra Recurring deposit interest rates and Fixed deposit interest rates
Kotak Mahindra Fixed deposit Interest rates
| Tenure | Normal rates for Public | Rates for Senior Citizens |
| 7 – 14 Days | 3.00% | 3.50% |
| 15 – 45 Days | 3.50% | 4.00% |
| 46 – 90 Days | 4.50% | 5.00% |
| 91 – 179 Days | 4.75% | 5.25% |
| 180 Days | 5.10% | 5.60% |
| 181 Days to 3899 Days | 5.25% | 5.75% |
| 1 Year to less than 2 Year | 5.25% | 5.75% |
| 2 years- less than 3 years | 5.00% | 5.50% |
| 3 years to 5 years and above | 5.00% | 5.50% |
Kotak Mahindra Fixed deposit Interest rates
| Tenure | Normal rates for Public | Rates for Senior Citizens |
| 3 Months | 5.25% | 5.25% |
| 6 Months | 5.25% | 5.75% |
| 1 Year | 5.25% | 5.75% |
| 2 Year | 5.00% | 5.50% |
| 3 Year | 5.00% | 5.50% |
| 5 Year | 5.00% | 5.50% |
| 10 Year | 5.00% | 5.50% |
Kotak Mahindra Savings Bank deposit Interest rates
| Quantum of Deposit | Rate of Interest |
| Up to Rs.1 lakh | 3.50% p.a. |
| Above Rs.1 lakh and up to Rs. 1 crore | 4.00% p.a. |
| Above Rs.1 crore | 4.00% p.a. |
That’s all for Kotak bank recurring deposit interest rates, Fixed deposit and Savings deposit interest rates. Thanks for visiting us !