Kotak NRI FD Rates 2021: Book your NRI FD Today

Kotak NRI FD Rates 2021: NRI Fixed Deposits are one of the best investment options for Non-Resident Indians to multiply their savings. Kotak Mahindra Bank offers primarily three types of NRI Fixed Deposits – NRE, NRO and FCNR – for its NRI customers. These FD accounts offer greater returns at attractive NRI interest rates. Here is the full description of prevailing Kotak Mahindra Bank NRI FD interest rates 2021.

In this Article:

Kotak NRI FD Rates 2021: Book your NRI FD Today
Kotak NRI FD Rates 2021: Book your NRI FD Today

Kotak Mahindra Bank NRI Fixed Deposit Interest Rates 2021

Customers can check out the current Kotak Mahindra Bank NRI FD rates for different FD accounts as under:

Kotak NRE FD Rates – Premature Withdrawal Allowed

Maturity period Rs. 2 Cr to below Rs. 5 CrRs. 5 Cr to below Rs. 10 CrRs. 10 Cr to below Rs. 25 CrRs. 25 Cr & above
1 year – less than 15 months3.90% 3.85%3.85%3.85%
15 months – less than 18 months3.90% 4.00%4.00%4.00%
18 months – less than 2 years4.00% 4.00%4.00%4.00%
2 years – less than 3 years4.25% 4.25%4.25%4.25%
3 years – less than 4 years4.25%4.25%4.25%4.25%
4 years – less than 5 years4.25%4.25%4.25%4.25%
5 years – up to & equal to 7 years4.25%4.25%4.25%4.25%
Kotak NRE FD Rates – Premature Withdrawal Allowed

Kotak NRE FD Rates – Premature Withdrawal Not Allowed

Maturity period Rs. 2 Cr to below Rs. 5 CrRs. 5 Cr to below Rs. 10 CrRs. 10 Cr to below Rs. 25 CrRs. 25 Cr & above
1 year – less than 15 months4.00% 3.95%3.95%3.95%
15 months – less than 18 months4.00% 4.10%4.10%4.10%
18 months – less than 2 years4.10% 4.10%4.10%4.10%
2 years – less than 3 years4.35% 4.35%4.35%4.35%
Kotak NRE FD Rates – Premature Withdrawal Not Allowed

Kotak NRO FD Rates – Premature Withdrawal Allowed

Maturity period Rs. 2 Cr to below Rs. 5 CrRs. 5 Cr to below Rs. 10 CrRs. 10 Cr to below Rs. 25 CrRs. 25 Cr & above
7 – 14 days2.50%2.50% 2.50%2.50%
15 – 30 days2.50%2.75% 2.75%2.75%
31 – 45 days2.75%2.90% 2.90%2.90%
46 – 60 days2.75%3.05%3.05% 3.05%
61 – 90 days3.00%3.10%3.10% 3.10%
91 – 120 days3.00%3.40%3.40% 3.40%
121 – 179 days3.00%3.40%3.40% 3.40%
180 days3.50%3.50%3.50% 3.50%
181 – 270 days3.50%3.75%3.75% 3.75%
271 – 279 days2.90%2.75%2.75% 2.75%
280 days – less than 12 months3.65%3.75%3.75%3.75%
1 year – less than 15 months3.90% 3.85%3.85%3.85%
15 months – less than 18 months3.90% 4.00%4.00%4.00%
18 months – less than 2 years4.00% 4.00%4.00%4.00%
2 years – less than 3 years4.25% 4.25%4.25%4.25%
3 years – less than 4 years4.25%4.25%4.25%4.25%
4 years – less than 5 years4.25%4.25%4.25%4.25%
5 years – up to & equal to 7 years4.25%4.25%4.25%4.25%
Kotak NRO FD Rates – Premature Withdrawal Allowed

Penal charges for premature withdrawal of Kotak Mahindra Bank NRE FD

FD TenurePenalty
Less than 1 yearNil
1 year & above0.50%
Penal charges for premature withdrawal of Kotak Mahindra Bank NRE FD

Kotak NRO FD Rates – Premature Withdrawal Not Allowed

Maturity period Rs. 2 Cr to below Rs. 5 CrRs. 5 Cr to below Rs. 10 CrRs. 10 Cr to below Rs. 25 CrRs. 25 Cr & above
91 – 120 daysNA3.50%3.50% 3.50%
121 – 179 daysNA3.50%3.50% 3.50%
180 daysNA3.60%3.60% 3.60%
181 – 270 days3.60%3.85%3.85% 3.85%
271 – 279 days3.00%2.85%2.85% 2.85%
280 days – less than 12 months3.75%3.85%3.85%3.85%
1 year – less than 15 months4.00% 3.95%3.95%3.95%
15 months – less than 18 months4.00% 4.10%4.10%4.10%
18 months – less than 2 years4.10% 4.10%4.10%4.10%
2 years – less than 3 years4.35% 4.35%4.35%4.35%
Kotak NRO FD Rates – Premature Withdrawal Not Allowed

Penal charges for premature withdrawal of Kotak Mahindra Bank NRO FD

FD TenurePenalty
Less than 180 daysNil
181 days & above0.50%
Penal charges for premature withdrawal of Kotak Mahindra Bank NRO FD

Kotak FCNR (B) FD Rates

Maturity/currencyUSD (<0. 5 mio)USD (>=5 mio)GBPEUROYENAUDSGD
1 year – less than 2 years0.10%0.05%0.01%0.00% 0.00% 0.01% 0.01% 
2 years – less than 3 years0.10%0.05%0.01%0.00%0.00% 0.01% 0.01% 
3 years – less than 4 years0.01%0.01%0.01%NANANANA
4 years – less than 5 years0.01%0.01%NANANANANA
5 years only0.01%0.01%NANA NANANA
Kotak FCNR (B) FD Rates

Penal rates for premature withdrawal of Kotak Mahindra Bank FCNR FD Account

For premature withdrawal of FD after 1 year, customers will have to pay penalty as under:

USD (<0. 5 mio)USD (>=5 mio)GBPEUROYENAUDSGD 
0.10%0.05%0.01%0.00%0.00%0.50%0.50%
Penal rates for premature withdrawal of Kotak Mahindra Bank FCNR FD Account

Note: All the interest rates mentioned above are subject to change without prior notice. We update the latest interest rates on NRE FD and Savings Bank Account as well as the interest rates for FCNR Deposit every month with the banks on our blog. You can head there to check out the latest rates. (The above tables were updated on 01/02/2021)

Types of NRI FDs by Kotak Mahindra Bank

Kotak Mahindra Bank offers fixed deposit accounts under three categories for Non-Resident Indians.   

  • Kotak Mahindra NRE FD
  • Kotak Mahindra NRO FD
  • Kotak Mahindra FCNR FD

Kotak Mahindra Bank Non-Resident External (NRE) Fixed Deposit

 NRIs and PIOs can invest in NRE FDs to earn high returns from their income earned in foreign countries.

Kotak Mahindra Bank NRE FD Key Highlights

Flexible tenure1 to 10 years 
CurrencyINR 
EligibilityNRIs, PIOs & Students 
Min deposit amountINR 50,000 
TaxabilityInterest earned not taxable in India 
Premature withdrawalAllowed with penalty
RepatriationFull repatriability (principal + interest) 
Other benefits– Auto-renewable of FD on maturity
– Interests are compounded quarterly
– NRE account can be opened jointly by eligible NRIs/PIOs

Kotak Mahindra Bank Non-Resident Original (NRO) Fixed Deposit 

By investing in Kotak Mahindra NRO deposits, NRIs and PIOs can enjoy safe and guaranteed returns from their income earned through foreign or domestic sources.

Kotak Mahindra Bank NRO FD Key Highlights

Flexible tenure7 days to 10 years 
EligibilityNRIs, PIOs & Students 
Min deposit amountINR 50,000 
TaxabilityInterest earned is subject to a tax(30)% 
Premature withdrawalAllowed with penalty
RepatriationInterest earned is fully repatriable after payment of tax 
Other benefits– Interests are compounded quarterly
– Principal amount of the deposit is exempt from tax in India.
– Auto-renewal facility on maturity
– NRO account can be opened jointly by eligible NRIs/PIOs and resident Indian

Kotak Mahindra Bank Foreign Currency Non-Resident (FCNR) Fixed Deposits

Kotak Mahindra FCNR FD allows NRI customers to deposit their foreign income in up to 6 currencies. Customers can book FCNR deposits by debiting funds from their NRE account. 

Kotak Mahindra Bank FCNR (B) FD Key Highlights

Tenure1 – 5 years
Deposit amountDeposit of USD 1 mio and above is at the discretion of the bank
CurrencyUSD, EURO, GBP, YEN, AUD and SGD
TaxationBoth principal and interest earned are exempted from tax in India
Premature withdrawalAllowed; penalty applicable to USD, GBP, AUD and SGD 
Benefits– Auto-renewal on maturity
– Both principal and interest fully and freely repatriable
– Interest is compounded on 180 days
– No foreign currency exchange risk
– Account can be opened jointly by NRIs/PIOs

Click on the button below to instantly book an NRI FD

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Get Expert Advisory and Assistance with Kotak Mahindra Bank NRI Fixed Deposits

Documents required for Kotak Mahindra Bank NRI FD account application

Here is the checklist of documents that NRIs have to provide while submitting the account opening form:

  • Duly filled FD account opening form
  • Self-attested colored photographs
  • Photocopy of current passport
  • Photocopy of valid visa (work permit or resident permit )
  • Indian address proof (whenever applicable)
  • PIO or OCI card (if applicable)
  • Nominee application (if applicable)
  • Specimen signature of the account holder

How to apply for Kotak Mahindra Bank NRI Fixed Deposit Account 

SBNRI is an online one-stop platform for expert services and advisory on all major NRI specific products including FD accounts for NRIs.

To get end-to-end assistance with NRI Account Opening and booking other Fixed Deposits and info about the latest Kotak NRI FD Rates, you can connect with our expert using the button at the end of the article. You can also browse through the NRI Account Opening grid that we have prepared specially for NRIs and get expert advisory and assistance seamlessly and complete the entire process at the comfort of your homes.

Kotak Mahindra Bank NRI Fixed Deposit Calculator

You can take the help of an expert to compute returns on your Kotak NRI FD and much more. At SBNRI, you get direct access to field experts who will take care of your individual process personally and assist you throughout the way. Just click on the button below to get in touch with our expert now. Also, visit our blog and Youtube Channel for more details.

Ask SBNRI Expert Now

FAQs

Is there any benefit for an existing customer of Kotak Mahindra Bank?

Yes, existing customers of Kotak Mahindra Bank can enjoy preferential NRI interest rates, faster processing, doorstep services, etc.

Can I open both Non-Resident and Resident savings account with Kotak Mahindra Bank?

No, a user can have only one account either a Non-Resident (NRE/ NRO) account or a Resident savings account.

What are the NRE fixed deposit rates offered by Kotak Mahindra Bank?

Kotak Mahindra Bank NRE FD rates vary based on NRE FD tenure and amount, ranging from 3.90% to 4.25% per annum.   

What is the minimum tenure for NRE and FCNR accounts?

Customers are required to maintain these accounts for a minimum tenure of 1 year so as to get interests on the deposit.

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