Kotak Mahindra Bank offers an array of credit cards with the sole purpose of catering to all types of consumers. We have a card to address each of your needs and every credit card in our ensemble has special services and benefits.
Term deposits are a type of investment that pays back interest. These are basically a type of savings account where your money is invested for a fixed period of time and you get a fixed rate of interest over that time period.
Kotak Bank offers several term deposit schemes for various durations. Our offers include simple reinvestment term deposits at attractive interest rates. These accounts can be opened with an investment as low as Rs. 10,000.
Types of term deposits offered
Tax Saving Term Deposit
Save tax and also get great returns over your investment at Kotak Mahindra Bank's tax saving term deposits.
Save tax under section 80C on an amount between Rs 100 to Rs 1.5 lakhs
Regular Term Deposit
With regular term deposit you can decide the date when you want to collect the interest on your principal money
One of the benefits here is the attractive term deposit interest rates that we offer
Senior Citizen Term Deposits
Attractive term deposit interest rates for senior citizens facilitate maximum returns on term deposits
Benefits can be availed by residents of India above 60 years of age
Open a recurring deposit account and inculcate the habit of saving every month
A small amount saved every month can tally up to a significant amount on account maturity
Choose to receive interest quarterly, or keep it invested till maturity
Save tax Under Sec 80C on an amount between Rs.100 to Rs. 1.5 lakh
Booking period - minimum 5 years to maximum 10 years
Enjoy liquidity by linking your Term Deposit to Savings Account or Current Account
Earn applicable interest on the money till it is swept-in the account, while the remaining Term Deposit amount will fetch you interest of Term Deposit at the contracted rate
Only an exact amount required to make up for the deficit in the account is withdrawn from your Term Deposit in the units of Rs. 1/-, thereby giving you the convenience of getting payments processed with ease ensuring complete peace of mind