Recurring Deposit

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1800 102 6022

Small savings to make your dreams come true.
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

  • You can save significant amount by smaller investments each month.
  • Enjoy easy payment options from your Savings Account
  • Recurring Deposit helps to
    • Fulfill your child's education dreams
    • Plan a Vacation.
    • Home improvement/purchase
    • Planning for Annual payment towards Insurance Premium/ Taxation.
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 Toll free 1800 102 6022
  • 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.50, 000/- per month for tenure upto 10 years and Rs.50, 001-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

Monthly InstalmentRs. 1,000Rs. 3,000
RD TenureRegularStaffRegularStaff
12 Months12563125973768937790
24 Months26228263667868579099
36 Months4109341417123279124252
60 Months7435475349223061226047
120 Months186201191503558604574509

Recurring Deposit Calculator

To calculate the RD on your own - Click here

To open RD now 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.

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