Kotak Bank FD Rates for Senior Citizens

What is a Kotak Mahindra Bank Senior Citizen FD?

A Kotak Mahindra Bank Senior Citizen Fixed Deposit is a safe, time deposit account that offers guaranteed returns on investment to senior citizens. The account offers 0.50% higher returns than standard Kotak Mahindra Bank FD interest rates, helping retirees grow their savings safely. You can begin investing with an amount as low as ₹5,000 and may choose to receive the FD interest payout monthly, quarterly, or cumulatively. You can withdraw fixed deposit funds partially or prematurely, ensuring access to funds when you need them.

Kotak Mahindra Bank FD Interest Rates For Senior Citizens Highlights

Kotak Mahindra Bank FD Interest Rates for Senior Citizens

Kotak Bank Senior Citizen FD rates vary based on the tenure and deposit amount.

Kotak Bank FD Rates For Senior Citizens (₹3 crore to ₹10 crore)

*Kotak Mahindra Bank FD interest rates for senior citizens w.e.f. October 15, 2025

Kotak Bank FD Rates For Senior Citizens (₹10 crore to ₹25 crore)

*Kotak FD rates for senior citizens w.e.f. October 15, 2025

How to Open a Kotak Mahindra Bank Senior Citizen FD?

Opening a Kotak Mahindra Bank Senior Citizen Fixed Deposit is simple. You can do it online through net banking or by visiting the nearest branch, whichever is convenient.

1. Online Method

   Mobile Banking

   Step 1: Log in to your account
   Step 2: Go to ‘Banking’
   Step 3: Select ‘Fixed Deposits’
   Step 4: Fill in the required details, including personal information (ensure correct age is entered to avail senior citizen benefits)
   Step 5: Enter the investment amount, tenure, payout frequency, and other required information
   Step 6: Review the details, confirm the transaction; the amount will be debited from your linked savings account
   Step 7: You will receive an instant confirmation, and your FD will be created

   Kotak Net Banking

   Step 1: Go to the ‘Investment’
   Step 2: Click on ‘Deposits’’
   Step 3: Select ‘Open a Fixed Deposit’
   Step 4: Fill in all the required details
   Step 5: Make the payment using available options
   Step 6: Once the transaction is confirmed, your FD will be created

2. Offline Method

   New and existing customers can open a Kotak Mahindra Bank Senior Citizen FD account through the offline mode by following the steps given below:
   Step 1: You can visit the nearest Kotak Mahindra branch with all the necessary documents.
   Step 2: A representative from the bank will help you with the process of opening an FD account.
   Step 3: : Submit the documents along with the application form.
   Step 4: If all the details are correct, you can open an FD account with the bank.

Eligibility to Open a Kotak Mahindra Bank Senior Citizen FD Account

The following candidates are eligible to open an FD for senior citizens in Kotak Mahindra Bank:

• Must be 60 years or older
• Must be a resident of India
• Can open the account individually or jointly

Documents Required to Open a Kotak Mahindra Bank Senior Citizen FD Account

The documents required to open a Kotak Mahindra Bank Senior Citizen FD account are:

• Proof of Identity
• Proof of Address
• Proof of Age (Any document showing date of birth)
• Recent Passport-sized Photograph
• PAN Card

Key Benefits of Kotak Mahindra Bank Senior Citizen FD

Kotak Mahindra Bank offers several benefits to senior citizens, such as higher FD interest rates and many more. Read the content below to understand better:

• Attractive Interest Rates: The Kotak Bank FD rates for senior citizens are comparatively higher than those for regular citizens of 0.50%, they start from 4% to 6.9% per annum.
• Low Minimum Deposit Requirement: Kotak Mahindra Bank allows senior citizens to easily open a fixed deposit, requiring a minimum amount of just ₹5,000. This makes it convenient for retirees to begin saving without the pressure of a large initial investment.
• Auto-Renewal Facility: With Kotak Mahindra Bank’s auto-renewal option, senior citizens can ensure their deposits continue earning interest without manual intervention. This feature is especially helpful for senior and super-senior citizens who might not prefer to visit a bank or could be less savvy in digital banking.
• Kotak ActivMoney Feature: This auto sweep-in feature transfers balances exceeding a set threshold in the savings account into a fixed deposit, offering interest rates of up to 7% per annum. The funds remain accessible if required.
• Overdraft Facility Against FD: Senior citizens may avail of an overdraft facility of up to 85% of the deposit value, eliminating the need to close the deposit prematurely in case of urgent financial requirements. Interest is charged only on the utilised amount.

Taxation on Kotak Mahindra Bank Senior Citizen FD Interest

Interest earned on Kotak Mahindra Bank Senior Citizen Fixed Deposits is taxable and added to your total income, taxed according to the Income Tax Act. From April 1, 2025, TDS is deducted only if the total interest in a financial year exceeds ₹1 lakh. Senior citizens can submit Form 15H to avoid TDS if their income exceeds the taxable limit. Under Section 80TTB, senior citizens can claim a deduction of up to ₹50,000 on interest earned from Kotak Mahindra Bank FDs.

Key Takeaways

Kotak Mahindra Bank offers FD interest rates of up to 6.9% per annum for senior citizens, along with features like the sweep-in facility, flexible interest payout options, and both online and offline application modes. With minimal documentation and a secure investment environment, eligible customers can explore these options to meet their financial goals.