Tax Saving Fixed Deposit - Features of Tax Saving FD by Kotak Mahindra Bank

Tax Saving Fixed Deposit - Features of Tax Saving FD by Kotak Mahindra Bank

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Fixed Deposit - Tax Saving Fixed Deposit - Kotak Mahindra Bank

Tax Saving Fixed Deposit

The Kotak Mahindra Tax Saving Fixed Deposit is for more than just growing your money. It gives you the triple benefit of tax savings, safety and attractive interests, so you can make the most of your idle funds while earning great returns.

With the tax saving fixed deposit, choose to receive interest quarterly or keep it invested till maturity

Save tax under Sec 80C on amounts between Rs 100 to Rs 1.5 lakhs in a Financial year with tax saving FD at Kotak bank

Tax Saving Fixed Deposit at Kotak Bank is available for a fixed tenure of 5 years

Premature or partial withdrawals are not permitted for tax saving FD's before lock-in period of 5 years

Interest rates for Tax Saving fixed deposit are applicable as per their normal schedule

You can also avail nomination facility with tax saving fixed deposits at Kotak Bank

TDS applicable on interest earned through tax saving FD's will be as per existing guidelines

Tax saving products for senior citizens are available as well

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.

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What is the rate of interest for fixed deposits with Kotak Bank?

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.

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What are the minimum amount and maximum amount I can deposit in a fixed deposit?

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.

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Can I withdraw my FD before maturity?

Yes, we have an option for premature withdrawal from fixed deposit accounts in select cases.

However, in that case, interest-earned will be lesser than contracted.

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Does any change or enhancement in my deposit portfolio affect TDS liability?

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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