Note: Interest rates are subject to periodic changes. The applicable interest rates will be offered based on the date and time of receipt of the funds by the bank.
* Recurring Deposit Advice will be dispatched to your registered mailing address with the bank within 3 - 4 working days of opening the RD account
Standalone Fixed Deposits of tenure 181 days and above linked to saving / current account will be treated as per the regular sweep deposit functionality and penal charge will be applicable as above. For ActivMoney (2 way sweep deposits) Regular Fixed Deposit rates will be applicable for all customers including Senior Citizen's / Bank Staff. For interest rates on deposits of Rs. 10 crore and above, please get in touch with the nearest Kotak Mahindra Bank branch - The calculation of interest is basis 365 days in a year for deposits booked in a non-leap year and 366 days in a year for Fixed Deposits booked in a leap (calendar) year. Factors Influencing Kotak Bank FD Rates. Interest rates are the most critical part of fixed deposits, apart from the security it provides to depositors.These rates depend primarily on the following factors: Age of the depositor – Individuals above the age of 60 years, i.e. Senior citizens are eligible for a higher rate of interest on their deposits compared to general citizens.
Penalty on delay in payment of RD installment
Fixed Deposit Rates Sri Lanka
About Kotak Mahindra Bank Fixed Deposit. Kotak Mahindra Bank, a leading Indian Private Sector bank, deals in fixed deposits to cater the diverse needs of the depositors. These deposit plans are for both existing and new customers. The bank offers the interest rate of up to 6.75% to the general public and 7.25% to the senior citizens. Fixed Deposit - Get fixed deposits with high interest rates at Kotak Mahindra Bank to earn good returns on your investment. Click here to know more about the fixed deposit interest rates so that you can pick wisely the fixed deposit that best suits your needs.
Kotak Bank Fixed Deposit Rates
- In case of delay in payment of any installment post grace period of 5 days, penal interest at the rate of RD interest rate (contracted rate of interest at the time of booking of the RD) + 2% p.a. or such other rate as may be specified by Bank from time to time, will be charged for the month of delay.
- Fraction of a month will be treated as full month for the purpose of calculating such interest.
- Even if the payment for the month is honoured, but the standing instruction towards installment recovery has failed, the Bank will recover a standing instruction failure charge from the current / savings bank account as per General Features and Schedule of Charges (GFSC)
- The total penal interest chargeable shall be recovered from the total amount of interest payable by the bank and shall be recovered only at the time of maturity or premature closure of the account as the case may be.
Premature Withdrawal of RD
Kotak Mahindra Fixed Deposit Rates
- In case of premature closure of this deposit within a month, no interest shall be paid and only principal amount will be returned.
- On premature withdrawal of RD. The interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower post deducting penal charge of 0.5% on premature withdrawal of deposit