Fixed Deposit

Q: At what rate is TDS deducted?

Applicable TDS rates are: Tax Rate Health and Education Cess TOTAL Resident Individuals & HUF 10% Nil 10% Corporate Entity 10% Nil 10% NRO/ foreign companies 30% 4% 31.2%* Firms 10% Nil 10% Disclaimers: As per section 206AA introduced by Finance (No. 2) Act, 2009 w.e.f. 01.04.2010, every person who receives income on which TDS is deductible shall furnish his PAN, failing which TDS shall be deducted at rate of 20% in case resident individuals and domestic companies and 31.2% (plus surcharge wherever applicable) in case of NRO/ foreign company deposits. Tax laws are subject to change and amendments from time to time which may affect above rates. *Rate may further be increased by the surcharge wherever applicable.

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Features of Fixed Deposit

If you want to boost your savings with an absolute peace of mind, a fixed deposit investment is the perfect fit for you. The promise of assured savings after a fixed tenure makes fixed deposits an attractive investment avenue for planning your medium and long-term goals.

Attractive Interest Rates

Grow your money with Kotak Fixed Deposits at attractive interest rates

Deposit Amount

Kotak lets you start a Fixed Deposit as low as Rs. 5000/-

Maturity Period

Avail Fixed Deposit with tenure options ranging from 7 days to 10 years

Flexible Interest Withdrawal

With Kotak Fixed Deposit, you can choose to receive interest monthly, quarterly or keep it invested till maturity

Net Banking

Enjoy investing in Fixed Deposits online through our Net & Mobile Banking facility

Premature Withdrawal

Partial/Premature withdrawal of Fixed Deposit is permitted

Nominee

Avail nomination facility with Kotak Fixed Deposits

Sweep-in Facility

Kotak Fixed Deposit allows liquidity through Sweep-in facility

Financial Portfolio

Kotak Fixed Deposit gives you the flexibility to keep your financial portfolio diversified

Overdraft Facility

You can avail overdraft facility against Fixed Deposit at Kotak Bank

At Kotak Mahindra Bank, we offer you attractive fixed deposit interest rates along with a range of terms to choose from, for you to achieve your money saving goals faster with more flexibility and security. Whether you want to save for a grand vacation or your child’s education, investing in a Kotak Mahindra Bank Fixed Deposit is a secure and effective way to transform all your dreams into fruition. Moreover, a comprehensive procedure leading to completion of your online application for opening a Fixed Deposits account with us has become easier than ever before!

What is Fixed Deposit (FD), and How Does it Work?

A fixed deposit is a secured and convenient investment option for instrument wherefrom investors to earn assured returns against a fixed rate of interest. Fixed deposit accompanies a higher interest yield compared to a savings account, and therefore, the money grows at an accelerated rate throughout the tenure. Since FDs assure fixed returns after maturity, you can fulfill any short or long-term financial goal without investment risks.

The depositor needs to open a fixed deposit account with at least a minimum amount for Fixed Deposit, which is Rs. 5,000 for Kotak Mahindra Bank. The amount remains fixed for a pre-determined time period against the promise of a specific interest rate.

There are multiple interest withdrawal options for a fixed deposit. With Kotak Mahindra Bank, you choose among cumulative, monthly, or quarterly pay-out options of the FD interest amount.

We also allow depositors to withdraw fixed deposit funds partially or prematurely, ensuring better flexibility of fund usage.

What are the benefits of Fixed Deposits?

Fixed Deposit possesses a number of advantages over any other investment schemes that tags it as one of the safest investment options to opt for. When you avail a Fixed Deposit, you actually bag a number of perks such as:

An assured return yielding product
Depending on the tenure of your fixed deposit you may have the option to avail a Overdraft facility Against Fixed Deposit Flexible tenure options suiting your needs
Hassle free online application to get started with your Fixed Deposit account in no time
High Liquidity by opting for premature breaking of your fixed deposit with applicable penalty and subject to applicable terms and conditions

What is the Fixed Deposit Interest Rate?

The Fixed Deposit Interest Rate is an integral factor for calculation of maturity value and aggregate interest. The rate varies depending on the tenure. Check out the fixed deposit interest rates for further information.

How do I calculate my returns from Fixed Deposits?

The Kotak FD returns Calculator is the simplest way to calculate your returns in no time. It just takes the following inputs from you:

TYPES OF INTEREST PAYOUT - You get to choose from 4 options – Cumulative, Quarterly Payout, Monthly Payout and Short Term FD
DEPOSIT AMOUNT - How much amount you would wish to invest
TENURE - After how long you would like to receive the matured amount

As soon as you fill in the above mentioned fields, the FD calculator displays to you the maturity amount, interest rate and aggregate interest value instantly! Get hands on with our easy-to-use online FD calculator and calculate your returns.

Who all are eligible to open a Fixed Deposit account?

At Kotak Mahindra Bank, our eligibility criteria is as flexible as it gets! Be it an Indian national or an NRI, a senior citizen or a member of HUF; you can invest in a Fixed Deposit with Kotak Mahindra Bank. FDs for minors too can be opened under guardianship.

What are the documents required to open a Fixed Deposit account?

The documentation required for opening a Fixed Deposit account with us is absolutely hassle-free. Just a few essentials – age, signature, address proof, photograph, a few more basic prerequisites, and you are good to go! If you already hold a Saving Account or Current account with Kotak Mahindra Bank, you may log on to your Netbanking or mobile banking and book a FD right away ! Could it be easier? No, we bet!

Have a Saving/ Current account? Book a FD NOW!!!!

Know the list of documents required for fixed deposit here.

Frequently Asked Questions

How can I calculate the interest on my fixed deposit?

Access our online FD calculator and enter the amount and fixed interest rate offered to you. You will get the results within seconds.