Kotak vs SBI FD Rates October 2026

Kotak offers up to 6.65% p.a. · SBI up to 6.45% p.a. · Side-by-side across all tenures, general & senior citizen rates.

FD Rate Comparison — All Tenures

Highlighted cells show the higher rate for each tenure. Dataset refreshed 1 Oct 2026.

1-year FD winner Kotak 6.35% vs 6.25%
Savings account SBI 2.50% vs 2.70%
Tenure Kotak SBI
GeneralSenior GeneralSenior
6 months 5.50% 6.00% 6.25% 6.75%
1 year 6.35% 6.85% 6.25% 6.25%
2 years 6.65% 7.15% 6.45% 6.40%
3 years 6.40% 6.90% 6.30% 6.30%
5 years 6.25% 6.75% 6.05% 6.05%

Rates for retail deposits below ₹3 crore. Senior citizen rate typically +0.25–0.50% p.a. Green cells show the higher general rate for each tenure. Calculate your maturity amount →

Savings Account Rates

Kotak
2.50% p.a.
vs
SBI
2.70% p.a.

Which bank should you choose?

Kotak is a private sector bank; SBI is a public sector bank. Both are RBI-regulated with DICGC deposit insurance up to ₹5 lakh. Kotak holds a slim rate advantage right now. For most depositors the difference is modest; branch proximity and existing banking relationships are equally worth weighing.

This is informational only — always verify the current rate on the bank's official website and consult a financial adviser for personalised guidance.

About These Banks

Kotak Mahindra Bank

Type
Private Sector Bank
HQ
Mumbai
Est.
2003
Best FD rate
6.65% p.a.
DICGC insured
Yes (up to ₹5 lakh)
Full profile
Kotak deposit rates →

State Bank of India

Type
Public Sector Bank
HQ
Mumbai
Est.
1955
Best FD rate
6.45% p.a.
DICGC insured
Yes (up to ₹5 lakh)
Full profile
SBI deposit rates →

Frequently Asked Questions

Which bank gives a higher FD interest rate — Kotak Mahindra Bank or State Bank of India?

Kotak Mahindra Bank currently offers a higher maximum FD rate of 6.65% p.a., compared to 6.45% p.a. from State Bank of India (as of 1 Oct 2026).

What is Kotak Mahindra Bank's current 1-year FD interest rate?

Kotak Mahindra Bank offers 6.35% p.a. for general depositors on 1-year FDs, and 6.85% p.a. for senior citizens (as of 1 Oct 2026). Confirm the current rate on Kotak Mahindra Bank's official website before investing.

What is State Bank of India's current 1-year FD interest rate?

State Bank of India offers 6.25% p.a. for general depositors on 1-year FDs, and 6.25% p.a. for senior citizens (as of 1 Oct 2026). Confirm the current rate on State Bank of India's official website before investing.

Are fixed deposits with Kotak Mahindra Bank and State Bank of India safe?

Yes. Both Kotak Mahindra Bank and State Bank of India are regulated by the Reserve Bank of India (RBI). Deposits at both banks are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5,00,000 per depositor per bank, covering principal and interest combined. Amounts above ₹5 lakh are not covered by deposit insurance.

Do Kotak Mahindra Bank and State Bank of India offer higher FD rates for senior citizens?

Yes, both banks offer additional interest for senior citizens (aged 60 and above), typically 0.25%–0.50% p.a. above the general rate. Kotak Mahindra Bank's 1-year senior rate: 6.85% p.a. State Bank of India's 1-year senior rate: 6.25% p.a.

What is the highest FD rate available between Kotak Mahindra Bank and State Bank of India?

The highest rate between the two is 6.65% p.a. from Kotak Mahindra Bank for the 2 years- less than 3 years tenure (general public, retail deposits below ₹3 crore, as of 1 Oct 2026).