Recurring Deposit (instalment) standing instruction will be debited on the same date every month. Recurring Deposit (instalment) standing instruction will be debited on the same date every month.
You can book a Recurring Deposit by following few simple steps:
1. On Mobile Banking
Go to Banking -> Fixed/Recurring Deposits
Open Fixed Deposit
2. On Net Banking
Go to Investment -> Deposits
Open A Fixed / Recurring Deposit
Select Recurring Deposit
1. Recurring Deposit can be opened for a minimum of Rs.100/- and for maximum of Rs.1,00,000/- in multiples of 100.
2. Minimum tenure for Recurring Deposit is 6 month and Maximum up to 120 month (10 years), in multiple of 3 months.
3. Interest on the Recurring Deposit is compounded at quarterly intervals, at the applicable rates.
Please click https://www.kotak.com/en/personal-banking/Deposits/Recurring-Deposits.html?cid=answer&source=keya&medium=faq to explore Recurring Deposit.