Recurring Deposit

1860 266 2666

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Kotak Recurring Deposit is a type of a deposit which allows you to choose a Term & Amount you wish to invest every month and earn Guaranteed Return at applicable interest rate.

A small saving made every month can bring you one step closer to your dreams. Make the smarter choice, save with Kotak Recurring Deposits and maximize the returns from your savings.

Our Recurring Deposits (RD) Calculator will help know how much you to save every month to achieve your planned goal.

Features of Recurring Deposit

  • You can save significant amount by making smaller investments each month.
  • Enjoy easy payment options from your Savings Account at attractive recurring deposit interest rates
  • To make your calculations hassle free, we have designed the recurring deposit calculator. Just enter the amount you want to invest monthly and the calculator will provide the maturity amount that you can get at the time of maturity of the Recurring Deposit. Click here to calculate your RD amount.

Recurring Deposit helps to

  • Fulfill your child's education dreams
  • Plan a Vacation.
  • Home improvement/purchase
  • Save for Annual payment towards Insurance Premium/ Taxation.

To open RD now: Click here

Only Resident Individuals (including Minors) & HUF customers are eligible for Recurring Deposit.

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What is Recurring Deposit (RD)?

Recurring Deposit (RD) is a monthly saving option which allows you to choose a Term & Amount you wish to invest each month and earn Guaranteed Return at applicable interest rate.

How can I open Recurring Deposit with Kotak Bank?

Recurring Deposit can be booked by the below means

  • Book online via Kotak Net Banking
  • Call 24 x 7 - 1860 266 2666
  • Visiting to the nearest Kotak Mahindra bank branch

What is an eligibility of Kotak Recurring Deposit?

Any individual resident (including Minor) & HUF can book recurring deposit with Kotak Bank.

Is it mandatory to have SA account with the bank in order to open Recurring Deposit?

Yes, SA account is mandatory requirement to open Recurring Deposit with Kotak.

How much can I invest each month?

You can open a Recurring Deposit with minimum of Rs. 100/- per month to Rs. 25, 000/- per month for tenure upto 10 years and Rs. 1, 00,000 for tenure upto 36 months.

What are the interest rates of a Recurring Deposit?

Interest rates are same applicable for term deposits and can vary from time to time. Click here to view Interest Rates

Are there any extra benefits for Senior Citizens?

Yes, senior citizen customers get an additional 0.50% p.a. rate of interest over and above the interest payable to regular customers

Is there any TDS on Recurring Deposit?

Yes TDS on Recurring Deposit would be deducted as per the income tax guidelines under Section 194A wef 01st June 2015

Can the first applicant for a Recurring Deposit be a minor?

Yes, the first applicant can be a minor. SI will be set up on minor's account.

Can Recurring Deposit be opened in joint names?

Yes, you can open a Recurring Deposit in joint names.

For what period can I open a Recurring Deposit?

You can open a Recurring Deposit account for a minimum period of 12 months and thereafter in multiples of 3 months up to a maximum period of 120 months (10 years).

What will be the instalments date of my Recurring Deposit?

The date of your monthly Recurring Deposit instalment will be same as on the date of your first installment debit.

Can I change the tenure and installment due date, (auto debit date) of my Recurring Deposit?

No, the tenure and instalment due date, (auto debit date) of an existing Recurring Deposit cannot be changed once set.

Can I make premature withdrawal of my Recurring Deposit?

Yes, premature withdrawals are allowed, but partial withdrawals are not permitted.

Will I get the interest if all I do the premature closure of Recurring Deposit within the month of Booking?

No interest shall be paid if the RD is withdrawn within a month only principal amount will be returned

What is the premature withdrawal penalty in Recurring Deposit?

On premature withdrawal of Recurring Deposit, the interest will be paid at the lower of rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate.  On the lower of the above two interest rates,  additional penal interest rate of 0.5% p.a will be reduced.

What will be the delayed penalty charge if I delay the installment?

If the customer delays the installment beyond the stipulated due date + grace period of 5 days, penal interest for the entire month will be levied. The delayed penalty charge will be at the applicable Recurring Deposit rate + 2%

Is there a monthly or quarterly interest pay-out option?

No. The interest will be paid on maturity or on premature closure of the Recurring Deposit.

Can I close my Recurring Deposit online?

Yes you can close your Recurring Deposit Online

Is an overdraft facility allowed?

Currently there is no overdraft facility on Recurring Deposits.

Is PAN mandatory to book Recurring Deposit?

Yes PAN is mandatory to book RD, else TDS will apply as per IT Rules

If Recurring Deposit is booked today, when the next SI will hit in the account?

SI will hit same date every month.

Is there any option for customer to select SI date for the period?

No, the SI will hit the account every month on the date of 1st installment debit.

How can I regularize the RD?

You can regularize the RD online through Kotak Net Banking or by visiting nearest Kotak Mahindra bank branch

Where can I find the option to regularize RD on Net banking?

RD Regularize option is available under the Service Request tab on net banking



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
Not available for Non Resident Indians / Persons Of Indian Origin

Penalty on delay in payment of RD installment

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

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

 RegularSenior CitizenRegularSenior Citizen
12 Months12445124793733637437
24 Months25685258207705577459
36 Months3966939980119007119941
48 Months5461955194163857165581
60 Months7006470991210191212972
120 Months164429168988493287506964

Recurring Deposit Calculator

To calculate the RD on your own - Click here

To open RD now - Click here. You can also, Call us or visit nearest Branch


Interest rates applicable are the same as that for Term Deposits, and are subject to change from time to time. Senior Citizens earn an additional 0.50%. Maturity amounts have been rounded off to the nearest rupee.
  • This offer is brought to you by (Travel Partner) and Kotak Mahindra Bank Ltd (Bank) Only resident Individual (including minors) are eligible.
  • AMB Charges on the savings account shall be waived till the Holiday RD is active. Subsequently, the customer will have to maintain the Average Monthly Balance (AMB) as per the Savings Account type he holds.. In the event of non- maintenance of AMB, applicable charges will be levied as per the Bank's General Schedule of Features and Charges (GSFC)  applicable for Savings Account.
  • Customer is required at all times to ensure that sufficient funds are maintained in the savings account to fulfill the payment towards RD installment for the Holiday RD Offer. Insufficient funds in the savings account will result in failure of RD installment payment, further this may result in failure of Standing Instruction (SI)  for transfer of funds to Travel partner  and SI failure charges will be applicable as per GSFC.
  • The Bank is under no obligation to inform the depositor(s) to maintain adequate balance in his / her / their account to pay the Recurring Deposit installments or to fulfill the standing instruction payment to travel partner
  • The Recurring deposit shall mature on completion of the contracted tenure even if there are installments due to be paid post deducting the applicable penal interest charges for such non-payment / delayed payment of installments. The proceeds shall be transferred to the Savings Account of the Customer.
  • Tax Deducted at Source ("TDS") on Recurring Deposit  will be applicable on the interest paid / accrued on the RD as per the extant IT regulations/ statutory   body/applicable laws and which may result in the change of RD maturity proceeds
  • Standing Instruction ("SI") by the customer favoring Travel Partner: Execution of SI is subject to availability of funds in the savings account on the date of execution of such SI.
  • Holiday Cancellation / RD withdrawal: In order to cancel the Holiday RD Offer, the customer has to first cancel the Standing Instructions issued by him/her previously for payment of the RD maturity proceeds to Travel Partner's current account. For the same a written request should be given by him/her at the nearest Kotak branch, at least 48 hours prior to the date of execution of such SI, to avoid any further payments to Travel Partner from the savings account or any charges thereon. If such written request for cancellation of the SI is not submitted prior to 48 hours from the date of execution of such SI, the Bank shall not be held responsible in any way for recovering the same from the Travel Partner and crediting the same into the savings account of the account holder maintained with the Bank.
  • Any grievances/issues/disputes in respect to the holiday package and payments made to Travel Partner shall be directly addressed to the Travel Partner by the customer (add the email address/or any contact number of the travel partner which shall address the grievance). Bank shall not be liable for resolution of any dispute in any way whatsoever.
  • Bank is not liable for any contribution / payment towards the Holiday RD Offer. The Bank shall not be held liable for the quality of the holiday package, any deficiency, inadequacy, any cancellation of the holiday package or in the services rendered by the Travel Partner, its agents or representatives and the Customer hereby agrees not to hold the Bank responsible or liable for, any actions, claims, demands, losses, damages, costs, charges and expenses that he/she may suffer on account of the Offer  
  • In an event the Customer cancels the SI instructions but continues with Recurring Deposit, the RD proceeds on maturity of  the RD  will be transferred to customer account and till the time the RD is active,  
  • In an event a Customer discontinues both  the RD and the Holiday Instructions, the RD will be closed immediately and RD proceeds will be transferred to customer account. Holiday will automatically be cancelled as final payment will not be made to the Travel partner. If the RD is closed the applicable NMC charges will be levied on the Savings Account.
  • You are advised to read and understand the terms and conditions of Travel Partner. Bank merely facilitates its Customers to avail the offers and it is no way concerned or connected in respect of the terms and conditions of the Travel Partner.
  • Bank holds complete discretion to modify or withdraw the / features of the Savings Account and Holiday RD offers/ privileges with or without prior notice. For general  terms and conditions applicable on the RD, click here
  • Participation to invest in the Holiday RD Offer  is voluntary. Any person availing of this offer shall be deemed to have accepted these Terms and Conditions

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