What is ActivMoney?

Kotak ActivMoney is an auto sweep facility that lets your money work for you by earning FD-wala interest on your idle funds. It gives you the flexibility to access your funds anytime without any penalty.

With this facility, the excess amount in your savings/current bank account, above a predetermined threshold, is automatically transferred into a Fixed Deposit so you can earn higher interest.

Features

• ActivMoney is an exciting combination that gives you the benefit of high FD-wala interest up to 7%* p.a. and the flexibility to access your funds anytime.

• Use the available balance in your savings account plus the FD for any purpose – ATM cash withdrawals, cheque issuance, online shopping, etc.

• By default, FD will be created for a tenure of 180 days. The interest on the FD is paid as simple interest

• FDs will be created and broken in multiples of ₹5,000 for new ActivMoney registrations w.e.f 5th July’23. For ActivMoney registrations before 5th July'23, Fds will continue to be made in 10,000 but will be broken in multiples of Rs 5,000

• No penalty is levied on premature withdrawal of FDs created through the ActivMoney facility

*For deposits above 7 days. T&C apply