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Make more money with ease. With Kotak Ace Fixed Deposit, your monthly interest earned on Fixed Deposit is invested in an equity mutual fund by the way of an SIP that will maximize your returns.
Ensures safety of principal amount of Term Deposit
Interest from term deposit is invested
in equity mutual fund for higher
potential of earning better returns
Earnings from equity fund are tax free
if redeemed after 1 year from
the date of investment
Investment on a regular basis
counters volatility of equity
Monthly interest payout credited in
CASA is invested in equity MF
through SI convenience
Enjoy attractive interest rates
Ease and convenience of operation
Nomination facility is available
Choice to select the Equity MF scheme
Available for Resident Individual,
NRO and Non-Individual customers
Avail Overdraft facility against Fixed Deposit
Pre-mature encashment of
fixed deposit is permitted
|Ace Deposit||Cumulative Deposit|
|Interest earned from Fixed Deposit, earns returns of an equity fund.||Interest earned from Fixed Deposit, earns returns at the Fixed Deposit rate.|
|Earnings from equity fund are tax free (if redeemed after 1 year from the date of investment)||Compounded interest attracts the same tax rate as regular income.|
|Features||Regular Term Deposit||ACE Deposit|
|Rupee Cost Averaging||No||Yes|
|Automated SIP Funding||No||Yes|
You become liable for TDS* when the aggregate interest you earn for all deposits held in a particular customer ID is greater than Rs. 40,000/- (Rs.50,000 in case of senior citizen) in a financial year.
TDS is deducted every time the Bank pays/re-invests interest during the financial year in accordance with the provisions of Income Tax Act as amended from time to time.
When interest amount is insufficient to recover TDS, the same is recovered from the principal of the deposit.
Yes, in case of reinvestment deposits, the interest reinvested is post TDS recovery.
TDS is deducted every time the Bank pays/re-invests interest during the financial year. TDS is also deducted on unpaid interest accrued at the end of financial year viz. 31st March.
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