Senior Citizen Fixed Deposit
Specifically designed for people over the age of 60, avail special Fixed Deposit Rates for tenor 12 months 25 days to less than 2 years @ 7.70% p.a.*

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Specifically designed for people over the age of 60, avail special Fixed Deposit Rates for tenor 12 months 25 days to less than 2 years @ 7.70% p.a.*
Access our online FD calculator and enter the amount and fixed interest rate offered to you. You will get the results within seconds.
The interest rate for fixed deposits with Kotak Bank varies with maturity period, deposit amount, type of depositor, etc. For instance, the rates are higher for senior citizens compared to residing Indians under the age of 60 years.
At Kotak, you can start a fixed deposit with a minimum amount of Rs. 5,000.There isn’t any maximum limit for the fixed deposit amount.
Yes, we have an option for premature withdrawal from fixed deposit accounts in select cases.
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.
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.
When your total interest income for the year is within basic exemption limits, you should inform the bank not to deduct TDS on deposits.
You can do this by submitting a form/ certificate from tax authorities as per the provisions of the Income Tax Act. The forms required for different categories have been listed below:
Category of Account |
Form Required |
Individual/ HUF |
Form 15G/15H |
Companies |
Certificate u/s 197 |
Others |
Certificate u/s 197 |
Disclaimers:
TDS certificates in Form 16A will be sent by the Bank on your registered email ID if the same is available. In case registered email ID is not available then the same will be sent by post/ courier on your registered address. TDS certificates can also be downloaded by logging into your net banking account.
Yes, provided the first account holder is a senior citizen.
While opening the account, the customer needs to provide proof of age establishing that he/she is a Senior Citizen. To accomplish this, either of the following can be submitted:
There is no need to create a separate Customer ID to avail of this product. For new Fixed Deposits, you only have to provide proof of age.
All subsequent Fixed Deposit applications need to be accompanied by proof of age.
Through Net Banking, Fixed Deposit can be booked by any applicant subject to PAN is updated with the Bank for the Primary applicant in which the Fixed Deposit is getting booked.
In the absence of PAN, following are the implications for customers: