Bank of India Logo
BOI

Private Sector

vs
Kotak Mahindra Bank Logo
Kotak

Private Sector

Bank of India vs Kotak Mahindra Bank Fixed Deposit Comparison 2025

Compare interest rates, features, and returns between Bank of India (Private Sector) and Kotak Mahindra Bank (Private Sector).

BOI: Min ₹10,000
Kotak: Min ₹5,000
Compare Your FD Returns
10,000₹20,00,000
years
1 year10 years

Interest Rate Comparison

Interest Rates by Tenure

General rates across different tenures

Current selection: 3 years (1095 days) -BOI: % |Kotak: %

Side-by-Side Rate Comparison

Direct comparison of general rates

BOI
Kotak
Highlighted = Your selected tenure

Feature Comparison

Features
BOI
BOI
Private Sector
Kotak
Kotak
Private Sector
Minimum FD Amount
10,000
5,000
Current Interest Rate (Selected Tenure)
%
%
Premature Withdrawal Penalty
1%
1%
Official Rate Source
View Official RatesView Official Rates
Bank of India
Private Sector Bank

Key Advantages:

Government-owned bank with strong security
Established in 1906, nationalized in 1969
Wide branch network across India
Special Star Utsav FD scheme (777 days)
Green Deposit for sustainable investments
Tax-saving FD options available
Kotak Mahindra Bank
Private Sector Bank

Key Advantages:

Premium banking experience
Personalized service
Technology-driven
Wealth management focus
High-value customer service
Important: Fixed Deposit Safety & Insurance Coverage

₹5 Lakh Insurance Limit

The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This means if you deposit more than ₹5 lakhs in a single bank, only ₹5 lakhs is guaranteed by the government.

⚠️ Recommendation:

Never deposit more than ₹5 lakhs in a single bank. If you have larger amounts, distribute them across multiple banks to ensure full insurance coverage.

Smart Distribution Strategy

For ₹10 lakhs: Split between BOI (₹5L) + Kotak (₹5L)

For ₹15 lakhs: Add a third bank to the mix

💡 Pro Tip:

You can also open FDs in different family members' names in the same bank to get additional ₹5 lakh coverage for each account holder.

Key Insights & Recommendations

Choose BOI If:
  • • Minimum amount: ₹10,000
  • Private Sector banking preference
  • Government-owned bank with strong security
  • Established in 1906, nationalized in 1969
  • Wide branch network across India
Choose Kotak If:
  • • Minimum amount: ₹5,000
  • Private Sector banking preference
  • Premium banking experience
  • Personalized service
  • Technology-driven
Best Strategy:
  • • Split large amounts across both banks
  • • Keep ≤₹5L per bank for insurance
  • • Compare rates before investing
  • • Consider branch convenience
  • • Review rates periodically

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