To get the full benefit of your Recurring Deposit, it's always better to allow it to complete the term. But if you wish too, you can withdraw it prematurely by following few simple steps:
1. On Mobile Banking
1) Go to Banking
2) Select Fixed/Recurring Deposits
3) Select Premature withdrawal
2. On Net Banking
1) Go to Investment -> Deposits
2) Select Premature Withdrawal of Deposit
(Amount will be credited your account instantly).
3. Alternatively, you can also place a request at the nearest Kotak Branch. (Amount will credited your account within 24-48 hours).
1) In case of premature closure of this Deposit within a month, no interest shall be paid and only principal amount will be returned.
2) 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. /n3) For more details on Recurring Deposit Please click https://www.kotak.com/en/personal-banking/Deposits/Recurring-Deposits.html?cid=answer&source=keya&medium=faq