Kotak Mahindra Bank vs. Axis Bank FD Rates

Investment schemes in India have given significant returns over the years; however, when it comes to guaranteed returns, Fixed Deposits (FD) remain the most valued by the investors who are looking to invest a portion of their income for a fixed period of time and with no risk. Investors looking to invest in FD often prefer banks, and to be more particular, they prefer government banks such as State Bank of India (SBI), Punjab National Bank (PNB) and similar others.

On February 7, 2025, the Reserve Bank of India (RBI) reduced the repo rate by 25 basis points, bringing it down to 6.25%. This marks the first rate cut in nearly five years. The last time the repo rate was slashed was in 2020. The decision was made during a three-day Monetary Policy Committee (MPC) meeting. The repo rate plays a crucial role in determining the FD rates, loan rates, and other things in India.

Following a recent reduction in the repo rate by RBI, FD interest rates across India are seeing some adjustments. While some banks have reduced their FD interest rates, others are still offering attractive rates, particularly small finance banks (SFBs). These changes highlight the importance of comparing rates across different banks to maximize returns on FD investments.

Here we compared two big private sector banks FD rates, Kotak Mahindra Bank and Axis Bank.

Kotak Mahindra Bank

Kotak Mahindra Bank offers a range of FD interest rates depending on the tenure and whether the depositor is a senior citizen.

Kotak Mahindra Bank FD rates (Domestic) below Rs 3 Crore w.e.f. June 14, 2024

Maturity Period	General Rates (In % P.A.)	Senior Citizens Rates (In % P.A.)
7 – 14 Days	2.75%	3.25%
15 – 30 Days	3.00%	3.50%
31 – 45 Days	3.25%	3.75%
46 – 90 Days	3.50%	4.00%
91 – 120 Days	4.00%	4.50%
121 – 179 days	4.25%	4.75%
180 Days	7.00%	7.50%
181 Days to 269 Days	6.00%	6.50%
270 Days	6.00%	6.50%
271 Days to 363 Days	6.00%	6.50%
364 Days	6.50%	7.00%
365 Days to 389 Days	7.10%	7.60%
390 Days (12 months 25 days)	7.40%	7.90%
391 Days – Less than 23 Months	7.40%	7.90%
23 Months	7.30%	7.85%
23 months 1 Day- less than 2 years	7.30%	7.85%
2 years- less than 3 years	7.15%	7.65%
3 years and above but less than 4 years	7.00%	7.60%
4 years and above but less than 5 years	7.00%	7.60%
5 years and above upto and inclusive of 10 years	6.20%	6.70%

Source: kotak.com

Note: Premature Withdrawal Allowed

The highest interest rate offered by Kotak Mahindra Bank is 7.40% for a tenure of 390 days and 390 days to less than 23 months. While senior citizens can earn up to 7.90% for the same period.

Axis Bank

Axis Bank also provides competitive FD interest rates in multiple tenures, giving multiple tenure choices to the investor or depositor.

Axis Bank FD Rates (Domestic) below Rs 3 Crore w.e.f. January 31, 2025

Maturity Period	General Rates (In % P.A.)	Senior Citizens Rates (In % P.A.)
7 – 14 days	3%	3.50%
15 – 29 days	3%	3.50%
30 – 45 days	3.50%	4%
46 – 60 days	4.25%	4.75%
61 days – 87 days	4.50%	5%
88 days – 3 months 24 days	4.75%	5.25%
3 months 25 days < 4 months	4.75%	5.25%
4 months < 5 months	4.75%	5.25%
5 months < 6 months	4.75%	5.25%
6 months < 7 months	5.75	6.25%
7 months < 8 months	5.75	6.25%
8 months < 9 months	5.75	6.25%
9 months < 10 months	6%	6.50%
10 months < 11 months	6%	6.50%
11 months – 11 months 24 days	6%	6.50%
11 months 25 days < 1 year	6%	6.50%
1 year – 1 year 4 days	6.70%	7.20%
1 year 5 days – 1 year 10 days	6.70%	7.20%
1 year 11 days – 1 year 24 days	6.70%	7.20%
1 year 25 days < 13 months	6.70%	7.20%
13 months < 14 months	6.70%	7.20%
14 months < 15 months	6.70%	7.20%
15 months < 16 months	7.25%	7.75%
16 months < 17 months	7.25%	7.75%
17 months < 18 months	7.25%	7.75%
18 Months < 2 years	7.25%	7.75%
2 years < 30 months	7.10%	7.60%
30 months < 3 years	7.10%	7.60%
3 years < 5 years	7.10%	7.60%
5 years to 10 years	7%	7.75%

Source: axisbank.com

The highest rate offered by Axis Bank is around 7.10%, applicable for a tenure of less than 2 years, with senior citizens receiving slightly better rates.

Summary

Kotak Mahindra Bank offers higher FD rates compared to Axis Bank, especially for tenures around one year and below two years. Senior citizens benefit from even higher rates at both banks, but Kotak Mahindra leads in this category as well.

This comparison highlights the competitive nature of FD offerings between these two banks, making it essential for potential investors to consider their options based on tenure and interest rates available at the time of investment.

Disclaimer: The above information is based on the latest research and development available. However, it may not fully reflect all the current aspects of the subject matter. Moneydaily.in advises readers to visit the respective bank’s official website for further information.