NRO Fixed Deposit Fees and Charges Online | Kotak Mahindra Bank

NRO Fixed Deposit Fees and Charges Online | Kotak Mahindra Bank

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The Premature withdrawal of Retail Fixed Deposit is permissible. However, the interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit remained with the bank or at the contracted rate, whichever is lower.

Further, the Bank will levy a penal charge from time to time for such premature withdrawals as prescribed below for Fixed Deposits booked/ renewed on or after 1st November, 2012.

Tenure of Fixed Deposit	Penalty
Less than 181 days	Nil
181 days and above	0.50%

Interest on Fixed Deposit will be compounded at quarterly rests in case of reinvestment deposits subject to keeping the deposits with the Bank for a minimum tenor of 181 days and above.

For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.

NRO Fixed Deposit

Enjoy safe and secured returns from the income earned either through Indian or foreign sources with our Indian Rupee deposit for NRIs & PIOs.

Minimum amount required for booking NRO Fixed Deposit is Rs. 50,000/- only

Auto renewal of fixed deposits on maturity

Interest earned on deposits is fully repatriable after payment of tax

Interest earned on deposit is at par with resident deposits

Other Features

NRO deposits tenure is same as that of resident deposits
Interests on NRO deposit are compounded quarterly
Phone Banking and Net Banking facilities are available
It can be jointly opened by NRIs/PIOs and Resident Indian
The principal amount on deposit is exempt from taxes in India. However, the interest earned will be subject to a tax of 30% (plus applicable surcharge and cess).

Frequently Asked Questions

In which currency is my NRO Fixed Deposit maintained?

Your NRO Fixed Deposit will be maintained in Indian Rupees.

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What should be the minimum tenure to earn interest on NRO retail Fixed Deposit?

The minimum tenure to earn interest on NRO retail deposit is 15 days or above.

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What is the maximum tenure of NRO deposits?

The NRO Fixed Deposit can be kept for a maximum of 10 years.

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What is the tenure and interest rate for which I can open a NRO Fixed Deposit?

Please click on the below link to know more on tenure and interest rate.

Please Click Here

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Will I get a cheque book and an access India debit card when I open NRO Fixed Deposit?

No, you will not get cheque book and access India debit card with your NRO Fixed Deposit. You shall get a fixed deposit advice on booking a NRO deposit.

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