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Rupee Advantage Plan

Earn higher returns with an FCNR Deposit combined with a forward cover in INR under the Rupee Advantage Plan. Get this plan and add on to the benefits of the FCNR deposit.

 

What makes the Rupee Advantage Plan different?

  • Involves a forward contract on your FCNR Deposit in USD / GBP / EURO / JPY
  • Minimum USD 25,000 and 50,000 in any other currency available for booking FCNR with the bank
  • Deposit for a period of 1 year 1 day up to 5 years for higher interest
 

Please note: Rates and Yields offered are provisional and subject to change at any time without prior notice. Please contact your Branch or Relationship Manager to confirm the yield before actual placement of funds.


The forward contract deal locks in the Rupee Return on the deposit. Future movements in currency markets cannot affect returns once the forward contract deal has been booked. The booking of the forward contract, protects the depositor from unfavorable movements in the exchange rate. On the other hand it must also be noted that , once the forward contract is booked, the depositor cannot take advantage of any favorable movements in the currency markets either.

Max Yield NRO Deposit (DTAA)

Now you can earn more from your savings with a Kotak Mahindra Bank Max Yield NRO Deposit. Benefit from lower tax rates on your Kotak Max Yield NRO Fixed Deposit under the Double Taxation Avoidance Agreement (DTAA) of India with these countries.

 

What makes the Kotak Max Yield NRO deposit different?

  • Avail benefit of the lower TDS depending on the overseas country of resident by just filling up a declaration at the time of booking the deposit (along with standard KYC documentation).
  • Avail the DTAA benefit for 74 countries across the globe.
  • Deposits from any source in India and abroad are accepted subject to repatriation restrictions for foreign currency
  • Transfer amounts up to a limit of USD 1 million each financial year on completion of documentation subject to conditions.
  • The principal amount in DTAA TD is completely tax free, however the interest is taxed* as per the applicable agreement ( 10-15%) with the country of residence plus applicable surcharge and cess.

*Tax Deducted at Source (TDS) certificates are issued.

 
Some of countries with TDS details are as below:
Country Rate of TDS on interest for Max Yield NRO Deposit (with DTAA benefit) Rate of TDS on interest for Regular NRO Deposit(without DTAA benefit)
US 15% 30% plus surcharge and cess
UK 15% 30% plus surcharge and cess
Singapore 15% 30% plus surcharge and cess
South Africa 15% 30% plus surcharge and cess
Belgium 15% 30% plus surcharge and cess
Kenya 15% 30% plus surcharge and cess
Saudi Arabia 10% 30% plus surcharge and cess
UAE 12.5% 30% plus surcharge and cess
Australia 15% 30% plus surcharge and cess
Canada 15% 30% plus surcharge and cess

**Apart from basic account opening documentation, to avail of the DTAA benefit, a simple declaration stating that you are eligible for the DTAA provision will be required.

Click here for detailed list of other countries where you can avail DTAA benefit on your NRO deposit.

Existing  customers - Apply now New Customers - Apply now

FCNR Deposits

Enjoy attractive returns from a fully repatriable, zero tax liability FCNR Deposit account in various currencies. Protect your money from exchange rate fluctuations by maintaining your FCNR deposit in international currencies.

 

What makes the FCNR Deposit different?

  • Rupee conversion to Foreign currency before booking as an FCNR deposit
  • Deposits from a local source accepted only if repatriable
  • No charge deposits of funds received from abroad as Traveler's cheques or foreign currency brought through normal banking channels into your account
  • Accepts maturity proceeds of investments purchased from even NRE / FCNR Accounts
  • The principal and interest earned in an NRE Account are completely tax free and exempt from Income Tax in India
 

NRO Term Deposits

Maximize your earnings in India and get easy access to your funds anywhere with NRO TDs. Carry out your transactions in India through your Term Deposits held in Indian Rupees.

 

What makes the NRO Rupee Term Deposit different?

  • Deposits from any source in India and abroad are accepted subject to repatriation restrictions for foreign currency
  • Pension, dividend, rent, and other current income can be repatriated on completion of documentation
  • Transfer amounts up to a limit of USD 1 million each financial year on completion of documentation
  • Settle your International Credit Card dues through your NRO account for cards issued by banks in India
  • The principal amount in NRO TD is completely tax free, however the interest is taxed* at 30% plus applicable surcharge and cess.

*Tax Deducted at Source (TDS) certificates are issued.

 
Gain with the Kotak Max Yield NRO Deposit!

Now you can earn more from your savings with a Kotak Mahindra Bank Max Yield NRO Deposit. Benefit from lowered tax rates on your Kotak Max Yield NRO Fixed Deposit under the Double Taxation Avoidance Agreement (DTAA) of India with these countries.

Country Rate of TDS on interest for Max Yield NRO Deposit (with DTAA benefit) Rate of TDS on interest for Regular NRO Deposit(without DTAA benefit)
US 15% 30% plus surcharge and cess
UK 15% 30% plus surcharge and cess
Singapore 15% 30% plus surcharge and cess
South Africa 10% 30% plus surcharge and cess
Belgium 15% 30% plus surcharge and cess
Kenya 15% 30% plus surcharge and cess
Saudi Arabia 10% 30% plus surcharge and cess
UAE 12.5% 30% plus surcharge and cess
Australia 15% 30% plus surcharge and cess
Canada 15% 30% plus surcharge and cess

**Apart from basic account opening documentation, to avail of the DTAA benefit, a simple declaration stating that you are eligible for the DTAA provision will be required.

NRE Term Deposits

Benefit from NRE TDs with no tax liability, complete repatriability and a host of value added services. Invest in this term deposit to earn more from your India savings.

 

What makes the NRE Rupee Term Deposit different?

  • Deposits from a local source accepted only if repatriable
  • No charge deposits of funds received from abroad as Traveler's cheques or foreign currency brought through normal banking channels into your account
  • Accepts maturity proceeds of investments purchased from even NRE / FCNR Accounts
  • The principal and interest earned in an NRE Account are completely tax free and exempt from Income Tax in India
 

Compare Accounts

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Status Tracker
Foreign Exchange Rates -
  • USD $
  • Euro
  • GBP £
  • AUD $
  • CAD $
  • SGD $

*Indicative Bank sell rate -TeleTransfer

View all Forex Rates

Interest Rates -

Maturity Period: 3 Years

  • NRE/NRO SB 4% pa
  • NRO TD
  • NRE TD

Maturity Period : 1 year

  • FCNR (USD)
  • FCNR (GBP)
  • FCNR (EUR)
  • FCNR (YEN)

*Interest rates subject to change

View all Interest Rates


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