Kotak Bank Increases FCNR(B) Deposit Rates Up to 6.15% for 3 to 5 Years

On June 11, 2026, Kotak Mahindra Bank announced an increase in interest rates for dollar-denominated foreign currency non-resident (FCNR) deposits.  

The revised rates apply to tenures ranging from 3 to 5 years, with the new rates set between 6.00% and 6.15%. 

This adjustment marks an increase of up to 315 basis points and is effective from Thursday. Rates for deposits with tenures of up to 3 years remain unchanged. 

Revised FCNR Deposit Rates 

The updated interest rates for FCNR(B) deposits in USD are now 6.00% for amounts less than $1 million and 6.15% for amounts equal to or exceeding $1 million, applicable to tenures of 3 to 5 years.  

For deposits of 1 year to less than 2 years, the rate is 4.40%, and for 2 years to less than 3 years, the rate is 3.70%. 

Read More: AU Small Finance Bank Adjusts FD, RD, and FCNR Rates, Providing Up to 7.90% Returns! 

Unchanged Rates for Shorter Tenures 

While the rates for longer tenures have been adjusted, Kotak Mahindra Bank has kept the interest rates unchanged for FCNR deposits with tenures of up to 3 years.  

The rates for these shorter tenures remain at 4.40% for 1 year to less than 2 years and 3.70% for 2 years to less than 3 years. 

Kotak Mahindra Bank Share Price Performance  

As of June 11, 2026, at 2:46 PM, Kotak Mahindra Bank share price on NSE was trading at ₹394.75 up by 1.71% from the previous closing price. 

Conclusion 

Kotak Mahindra Bank has revised its FCNR deposit rates for 3 to 5-year tenures to 6.00%-6.15%, effective Thursday. The rates for shorter tenures remain unchanged, with 1 to 2-year deposits at 4.40% and 2 to 3-year deposits at 3.70%. 

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