The date of your monthly Recurring Deposit instalment will be same as the date of your first instalment debit.
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.
4. Please click https://www.kotak.com/en/personal-banking/Deposits/Recurring-Deposits/interest.html?cid=answer&source=keya&medium=faq to check Recurring Deposit interest rates.