Recurring Deposits
A small investment every month can get you one step closer to your dreams.

RD Regularize option is available under the Service Request tab on net banking.
You can regularize the RD online through Kotak Net Banking or by visiting nearest Kotak Mahindra bank branch.
No, the SI will hit the account every month on the date of 1st installment debit.
SI will hit the same date every month.
Yes, PAN is mandatory to book RD, else TDS will apply as per IT Rules.
Currently there is no overdraft facility on Recurring Deposits.
Yes, you can close your Recurring Deposit Online.
No. The interest will be paid on maturity or on premature closure of the Recurring Deposit.
If the customer delays the installment beyond the stipulated due date + grace period of 5 days, penal interest for the entire month will be levied.
On premature withdrawal of Recurring Deposit, the interest will be paid at the lower of rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate.
No interest shall be paid if the RD is withdrawn within a month only principal amount will be returned.
Yes, Premature withdrawals are allowed but Partial withdrawals are not allowed.
You can liquidate your RD through Mobile Banking/Net Banking or through Branch; Joint Account holders and customers who do not have access to Net Banking can submit their RD advice or written instruction, duly signed by all account holders, at the nearest Kotak Mahindra Bank branch for premature liquidation of your RD.
No, the tenure and instalment due date, (auto debit date) of an existing Recurring Deposit cannot be changed once set.
The date of your monthly Recurring Deposit instalment will be same as on the date of your first installment debit.
You can open a Recurring Deposit account for a minimum period of 6 months thereafter in multiples of 3 months up to a maximum period of 120 months (10 years).
Yes, you can open a Recurring Deposit in joint names.
Yes, the first applicant can be a minor. SI will be set up on minor's account.
Yes, TDS on Recurring Deposit would be deducted as per the income tax guidelines under Section 194A wef 01st June 2015.
Yes, senior citizen customers get an additional 0.50% p.a. rate of interest over and above the interest payable to regular customers.
Interest rates are same applicable for term deposits and can vary from time to time.
You can open a Recurring Deposit with minimum of Rs. 100/- per month to Rs. 25, 000/- per month for tenure upto 10 years and Rs. 1, 00,000 for tenure upto 36 months.
Yes, Savings Account is a mandatory requirement to open Recurring Deposit with Kotak.
Any individual resident (including Minor) & HUF can book recurring deposit with Kotak Bank.
Recurring Deposit can be booked by the below means: