Fixed Deposits (FD) remain one of the most reliable investment avenues for Indian savers. Kotak Mahindra Bank offers competitive interest rates tailored for various tenures, ranging from 7 days to 10 years. Using our Kotak Bank FD Rates Calculator, you can instantly estimate the returns on your savings before visiting the branch or using the Net Banking portal.
How the Kotak FD Interest is Calculated
Kotak Mahindra Bank follows the standard industry practice for interest calculation:
Short-term Deposits (Less than 180 days): Interest is calculated as Simple Interest at maturity.
Long-term Deposits (180 days and above): Interest is compounded quarterly. This means your interest earns interest every three months, significantly boosting your maturity value.
Senior Citizen Benefit: Individuals aged 60 and above typically receive an additional 0.50% interest rate across all slabs.
Kotak FD Rate Slabs (Indicative)
Tenure Bucket
Regular Rates (p.a.)
Senior Citizen Rates (p.a.)
7 – 30 Days
2.75%
3.25%
180 – 364 Days
6.00%
6.50%
390 Days (Special)
7.40%
7.90%
3 Years – 10 Years
6.25%
6.75%
Example Calculation
If you invest ₹2,00,000 for a tenure of 390 days as a regular citizen:
Principal: ₹2,00,000
Interest Rate: 7.40% p.a.
Compounding: Quarterly
Maturity Amount: Approximately ₹2,16,245
Wealth Gained: ₹16,245
Key Features of Kotak FDs
Flexible Tenure: Choose between a few days to a whole decade.
Partial Withdrawal: Kotak allows "sweep-in" facilities where you can withdraw parts of your FD in multiples of ₹1 while the rest continues to earn interest.
Safety: Being a leading private sector bank, your deposits are highly secure and insured by DICGC up to ₹5 Lakh.
Frequently Asked Questions
1. Is TDS applicable on Kotak FD?
Yes, if the interest earned exceeds ₹40,000 (₹50,000 for senior citizens) in a financial year, TDS at 10% is deducted by the bank. You can submit Form 15G/15H to avoid this if your income is below the taxable limit.
2. Can I change the tenure after opening an FD?
No, the tenure is fixed at the time of booking. You would need to close the existing FD (premature withdrawal) and open a new one with the desired tenure.
function calculateFD() {
var p = parseFloat(document.getElementById('principal').value);
var y = parseInt(document.getElementById('years').value) || 0;
var m = parseInt(document.getElementById('months').value) || 0;
var type = document.getElementById('customerType').value;
var payout = document.getElementById('payoutType').value;
if (isNaN(p) || p <= 0) {
alert("Please enter a valid investment amount.");
return;
}
var totalMonths = (y * 12) + m;
var totalDays = (y * 365) + (m * 30.44); // Simplified average month
if (totalMonths === 0) {
alert("Please enter a valid tenure.");
return;
}
// Dynamic Rate Logic (Approximate Kotak Mahindra Bank Slabs)
var rate = 0;
if (totalDays <= 30) rate = 2.75;
else if (totalDays <= 90) rate = 3.50;
else if (totalDays <= 179) rate = 4.00;
else if (totalDays = 389 && totalDays <= 391) rate = 7.40; // 390 days special
else if (totalDays < 730) rate = 7.10;
else if (totalDays < 1095) rate = 7.00;
else rate = 6.25;
// Senior Citizen Premium
if (type === 'senior') {
rate += 0.50;
}
var maturity = 0;
var interest = 0;
// Calculation Logic
// For FDs < 6 months, simple interest is applied
if (totalMonths = 6 months
// Formula: A = P(1 + r/n)^(nt) where n = 4 (quarterly)
var t = totalDays / 365;
var n = 4; // Quarterly
maturity = p * Math.pow((1 + (rate / (n * 100))), (n * t));
interest = maturity – p;
}
// Adjustments for Payout type (Approximate display)
if (payout === 'quarterly') {
// Payout doesn't compound
interest = (p * (rate/100) * (totalDays/365));
maturity = p; // Principal returned at end
} else if (payout === 'monthly') {
// Discounted monthly interest
interest = (p * (rate/100) * (totalDays/365)) * 0.98; // simplified discount factor
maturity = p;
}
// Display results
document.getElementById('results-box').style.display = 'block';
document.getElementById('appliedRate').innerText = rate.toFixed(2) + "%";
document.getElementById('totalInterest').innerText = "₹" + Math.round(interest).toLocaleString('en-IN');
if(payout === 'cumulative') {
document.getElementById('maturityValue').innerText = "₹" + Math.round(maturity).toLocaleString('en-IN');
} else {
document.getElementById('maturityValue').innerText = "₹" + Math.round(p).toLocaleString('en-IN') + " + Payouts";
}
}