KOTAK Bank FD Interest Rates 2024

KOTAK MAHINDRA is a Well-Known Promisent Bank in India, with its headquarters in mumbai, Maharashtra. Individuals, NRIS, and Senior Citizens Can Cho OSE from a variety of fixed deposit options at Kotak Bank. You can play surplus cash with kotak inA FIXED Deposit, Also Known as a Term DEPOSIT, for a Certain Period and Earn Interest on the Amount Deposite. , The Bank Offers Reasonable Interest Rates with Tenure Ranging from 7 Days to 10 Years.

Geeky takeaways:

KOTAK MAHINDRA IS A Well-Established Private Bank in India That Offers Various Financial Services Including Fixed DEPOSITS to his Customersers.

The Fixed DEPOSIT FACILITY Offered by Kotak Mahindra Can Be Opted for a Minimum of 7 Days and 10 Years as Will.

The fd carries benefits like tax savings, interest rate payments, loan availability aginst fd, and so on.

Customers can avail of FD FACILITIES at one click via internet banking and Kotak Mahindra Banking App if they almedy have an account with the same bank.

Table of content

KOTAK Bank FD Rates 2024

Features and Benefits of Kotak Bank Fixed DEPOSIT

Types of Kotak Bank FD Schemes

How to invest in Kotak Bank FD?

Eligibility to open an kotak bank fd account

DOCUMENTS Required to Open Kotak Bank FD

TAX On Kotak Bank Fixed DEPOSIT

Loan Against Kotak Bank FD

Premature Closure of Kotak Bank Fixed DEPOSIT

Frequently Asked Questions (FAQS)

Tenure

Rate of Interest for General Citizens

(Below 60 Years of Age)

Rate of Interest for Senior Citizens

(ABOVE 60 Years of Age)

7 - 14 Days

15 - 30 Days

31-45 Days

46-90 Days

91-120 Days

121 -179 Days

180 Days

181 Days to 269 Days

270 Days

271 Days to 363 Days

364 Days

365 Days to 389 Days

390 Days (12 Months 24 Days)

391 Days - Less than 23 MONTHS

23 MONTHS

23 MONTHS 1 Day-Less than 2 Years

2 Years-Less than 3 Years

3 Years and Above But Less than 4 Years

4 Years and Above But Less than 5 Years

5 Years and Above upto and Inclusion of 10 Years

Tenure

Rate of Interest for General Citizens

(Below 60 Years of Age)

Rate of Interest for Senior Citizens

(ABOVE 60 Years of Age)

7 - 14 Days

15 - 30 Days

31-45 Days

46 - 60 Days

61-90 Days

91-120 Days

121 -179 Days

180 Days

181 Days to 270 Days

271 Days to 279 Days

280Days 4 364 Days

365 Days s less than 15MONTHS

15 MONTHS -Less than 18 MONTHS

18 MONTHS -Less than 2 Years

2 Years and Above But Less than 3 year

3 Years and Above But Less than 4 Years

4 Years and Above But Less than 5 Years

5 Years and ABove Upto & Inclusion of 7 Years

1. Simple Investment with liquidity and Flexibility: Kotak Bank FIXED DEPOSIT is a Secure Investment that Provides Guaranteed RETURNS onVESTMENT. FIX. ED DEPOSIT RETURNS Are UnFFECTD by Any External Circumstances. Investors Can Start Investing with Minimum RS 5000.

2. Flexible Tenure: Customers Can Choose from a variety of terms raom 7 days to 10 Years with Kotak Bank Fixed DEPOSIT. Customers Will Not Only More Flexibility , But they Will Also Be Able to Plan their Investment Horizon Based on THEIR GOALS.

3. Premature/Partial withdrawal: Kotak Bank Fixed DEPOSITS are a very liquid Investment Option in Times of Emergeency. Fully Before their Maturity date and have funs credited to your account for emergecent use.

4. Additional Interest: Senior Citizens get an extra 0.50% Interest Rate On Top of the Regular Fixed DEPOSIT Interest Rate. TTERTEREST RATES on their Hard-Earned Money.

5. Overdraft Against FD: Overdraft Against Fixed DEPOSIT Is Also Available From Kotak Bank. This is a great way to get Instant Liquidity Against A FIXED DEPOSIT OUT BREAKING it.

6. Automatic Renewal Facility: You can open an Kotak Bank Fixed DEPOSIT that Will Automatical Renew. This Ensures that Your FD is AutomaticLly Renewed For T He say term on the maturity date, resulting in no interest loss.

Deposit

Minimum: 00 5,000

Maximum: no limit

Tenure

7 Days - 10 Years

SPECIAL CATEGORIES of Customers

Additional 0.50% P.A Interest Will Be Officed to Senior Citizen

Premature withdrawal facility

Premature facility is available

Loan facility

Available to get loan of some portion of fixed deposit.

Payment of interest

FD Opened with Monthly Interest Payout Would be paid at discountd rate.Indore Investment

Eligibility

A Regular Fixed DEPOSIT SCHEME Can Be Opened by A Resident Indian, a Public or Private Limited Company, a huf, a trust, or a partnership firm.

DEPOSITORS are eligible for a tax benefit under section.

Tenure

Minimum -5 years

Maximum - 10 year

Deposit amount

Minimum -, 1,000

Maximum -m 1,50,000 in a Financial year.

Lock in Period

5 years

Premature withdrawal facility

Premature of ForeClosure Not Allowed BeFore 5 Years

Nomination

This facility is available.

Loan facility

No loan facility available

This deposit is offered to Resident Senior Citizens AGED 60 Years and Above

Deposit

Minimum: 00 5,000

Maximum: no limit

Tenure

7 Days - 10 Years

Loan facility

Available to get loan of some portion of fixed deposit.

Payment of interest

The Minimum Term for Monthly Payout FDS is 181 Days, and Internet Payout will be discounted in accountance with the applicable rate.

Interest can be payable Monthly, quaterly or at maturity

Liquidity

With the Sweep-in Feature, Depositors Can Experience Liquidity by Linking their Current or Savings Account to their Fixed DEPOSIT.

Sweep-in Facility

The Sweep-in Facility will only take the principal amount into considration.

Intert Rate

With the Relevant Internet Rates of a Fixed DEPOSIT, The Sweep-in Service Allows You to Earn Substantial Return, ccount.

There are several ways to create an kotak bank fd account, influding office, Internet banking, and using a mobile app.

To Start An Kotak Bank FD Account userNet Banking, Follow the Procedures Outlined Below:

1. Login to your kotak bank networking account.

2. SELECT The ‘DEPOSIT Opening’ OPTION from the ‘Online Term deposit’ menu.

3. Read and Thoroughly Review All of the ‘Terms & Conditions’ Before Proceeding to Fill Out All of the Required Information.

4. USING A One-Time Password (OTP), Authenticate the Transaction.

5. The fd account will be opened after successful login. Its acKnowledgement Slip Will Also be accesible for download.

To create an fd account using the kotak bank mobile app, follow the procedures outlined below:

1Lucknow Wealth Management. Sign in to the kotak bank app after downloading it.

2. To proced, select the term deposits option.

3. Fill Out All of the Information, Including Personal Information, Nominee Information, and Maturity Instructures.

4. USING A One-Time Password (OTP), Authenticate the Transaction.

5. The fd account will be opened after successful login. Its acKnowledgement Slip Will Also be accesible for download.

To open an Kotak BANK FD Account Office Follow the Steps Given:

1. VISIT Your Local Kotak Bank Branch.

2. Fill Up the Kotak Bank FD Application Form and Submit It Together with All Required Papers and the Deposit amount.

3. The Application is Properly Processed, The Kotak Bank Will Provideo An FD Receipt.

When considering to invested in kotak bank fds, Investors have to fulfil the following criteria:

1. You Must have an indicting fd account with the bank.

2. NRIS Can only invest Through Nre and Nro Accounts.

3. Incase of hindu undivided family account, Investor Should be meteber of huf.

4Hyderabad Stocks. MINORS Can Invest in These FDS As Well, but they must be accoming by their parents or Guardians.

5. For the Sort of Investments, Trusts, Public and Private Limited Companies, Partnerships, and Sole Proprietors Are Also Eligible.

For Opening An fd in Kotak Bank, Investors Must Ensure that they have the following documents with them:

Pan Card

Voter ID

Aadhaar card

Ration Card Including a Photography

Driving License

Senior Citizen ID

Passport

Electricity Bill

Telephone BillMumbai Investment

Bank statement with cheque

Passport

Identity Card ISSUD by Post Office

CUSTOMOMERS ALSO NEENE THIR THEIR TWO PASSSPORT-SIZED Photographs at the Time of Opening the Deposit Acount.

The tax applications are:

1. Individuals Under The Age of 60 Are Taxed on the Interest Earnet on their Fixed DEPOSITS. The Tax is Charge with The Standard THE Standard THERAB Applicab. le to such people.

2. Section 80ttb Allows A Deduction of up to ₹ 50,000 for Senior Citizens (Over The Age of 60).

3. Under Section 80C of the Income Tax Act, you are eligible for a depatting in the case of a five-year tax-saving fixed deposit. T to the amount deposite during the finish years, with a maximum threshold limitOF 0 1,50,000. This benefit is not available to this who opt for a new tax regime.

Customers with Kotak Bank FDS May Take Loans Against Their Investments Under Following Conditions:

1. The Limit is set at 90% of the fd ’s value.

2. The Interest Rate Charges from 5% to 7.5%.

3. The Maximum Period for Such a loan is the same as the maturity term for the fd.

The Premature Closure of Kotak Bank Fixed DEPOSIT Are Subject to PENALTY on the Basis of the Tenure of the DEPOSITE. Uding Partial Closure, Has Been Determined by the Kotak Mahindra Bank as Shown Below:

Tenure of fixed deposit

Penalty

Less than 181 days

Greater than 180 Days to 364 Days

365 Day and Above

1. Who is Eligible For Kotak Bank ’s Regular Fixed DEPOSIT Scheme?

ANSWER:

The deposit scheme is open to All Resident Persons, HUFS, Minor, Senior Citizens, PUBLIC and Private Limited Companies, PARTNERSHIPS, and Sole IPS

2. Can I make a premature withdrawal from my kotak bank tax saving fixed deposit?

ANSWER:

Premature withdrawal is not permitted for Kotak Bank Tax Saving Fixed DEPOSITS. The minimum Lock-in time for the kotak mahindra bank fd is 5 years.

3. Are There any Penalties if I Close My Loan Against FD Early?

ANSWER:

NO, Kotak Mahindra Bank Does Not Apply Prepayment Penalties for Loans Against FDS.

4. IS It Required TO Have A Saves/Current Account with The Bank Before Opening An FD Account?

ANSWER:

According to Bank Regulations, in order to open an fd account, you must first have a savings/CURRENTACCOUNT With the BANK. Ady Had An Excellent Experience with the Bank and Can Now An Academnet banking or mobile banking channels.

5. Do Senior Citizens Receive A Higher Interest Rate on Fixed DEPOSITS?

ANSWER:

Yes. Senior Persons are given an extra interest rate of 0.50% on fd.

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