Kotak Mahindra Recurring Deposit Interest Rates 2025

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The Interest Rates offered by Kotak Mahindra Bank on Recurring Deposit

Tenure	Interest rate p.a. (General Public)	Interest rate p.a. (Senior citizens)
6 Months	6.00%	6.50%
9 Months	6.00%	6.50%
12 Months	7.00%	7.60%
15 Months	7.20%	7.70%
18 Months	7.20%	7.70%
21 Months	7.20%	7.70%
24 Months	7.10%	7.65%
27 Months	7.10%	7.65%
30 Months	7.10%	7.65%
33 Months	7.10%	7.65%
3 years - less than 4 years	7.00%	7.60%
4 years - less than 5 years	7.00%	7.60%
5 years – 10 years	6.20%	6.70%

*Note : The interest rates are effective from 11 December 2023. The rates can be changed by the bank at its discretion.

Kotak Mahindra Bank - Short Term Recurring Deposit Interest Rates

You can open a short-term recurring deposit with Kotak Mahindra Bank to fulfil short-term saving goals. The bank offers small tenures that start from 6 months and go up to 18 months with the rate of interest being in the range of 6.00% p.a. to 7.20% p.a.

Senior citizens can avail interest between 6.50% p.a. and 7.70% p.a. on opening short-term RDs with Kotak Mahindra Bank.

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Kotak Mahindra Bank - Medium Term RD Interest Rates

As far as medium-term recurring deposits goes, Kotak Mahindra offers tenures that range from 1 year 9 months to less than 5 years. The rate of interest offered is in the range of 7.00% p.a. to 7.20% p.a.

The highest interest paid under medium term RDs is for the tenure of 1 year 9 months. Individuals above the age of 60 years who invest in medium term RDs are eligible for interest in the range of 6.70% p.a. to 7.70% p.a.

Know more about -  Kotak Bank RD Calculator  

Kotak Mahindra Bank - Long Term RD Interest Rates

Long term RDs are tenures that run from 5 years to 10 years. The bank offers general public an interest of 6.20% p.a. while senior citizens are paid 6.70% p.a.

RD Interest Rates by Banks

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4. Indian Bank RD Interest Rates
5. Kotak Mahindra RD Interest Rates
6. IOB RD Interest Rates
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8. Indusind Bank RD Interest Rates
9. BOM RD Interest Rates

RD Article Pages

1. Recurring Deposit Vs. Chit Fund
2. Miss to Pay the Recurring Deposit Due
3. Difference Between Recurring Deposit and SIP
4. Open RD Account through HDFC NetBanking
5. RD Account in SBI
6. Advantages of Recurring Deposit
7. Flexi RD
8. SBI Flexi RD Schemes
9. Monthly Recurring Deposit
10. Indian Bank Recurring Deposit
11. Union Bank Recurring Deposit
12. UCO Bank Recurring Deposit

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FAQs on Kotak Mahindra Bank RD Interest Rates

• What are the payout options for Kotak Mahindra Bank recurring deposits?

  The interest and principal amount of your Kotak Mahindra Bank RD will be paid out only on maturity or if you prematurely withdraw your deposit (subject to the penal charge).

• Are premature withdrawals allowed for Kotak Mahindra Bank recurring deposits?

  Premature withdrawals are allowed for Kotak Mahindra Bank RDs but with a penal charge of 0.5%. For deposits that are prematurely withdrawn within a month of opening it, only the principal amount is returned and no interest is paid.

• On which date will the recurring deposit amount be debited from my savings account for my Kotak Mahindra RD?

  Your savings account will be debited for your Kotak Mahindra RD on the same date every month as the date that the first instalment was debited.

• What are the interest rates offered by Kotak Mahindra Bank on RD accounts in 2024?

  Kotak Mahindra Bank is offering competitive interest rates on Recurring Deposit (RD) accounts in 2024, ranging from 6.00% to 7.00% for tenures between six months to 10 years. These rates may change based on market conditions, so it's best to check with the bank for the latest updates. 

• How are the interest rates for Kotak Mahindra Bank RDs determined?

  The interest rates for RD accounts offered by Kotak Mahindra Bank are usually determined based on factors like RBI regulations, market rates, currency value, and the bank's policies. 

• Are the RD interest rates different for different tenure options at Kotak Mahindra Bank?

  Yes, Kotak Mahindra Bank offers different interest rates for various tenure options on RD accounts. Typically, longer tenure RDs may have higher interest rates than shorter ones. 

• Can existing customers avail any special interest rates on RDs with Kotak Mahindra Bank?

  Existing customers may be eligible for special interest rates or promotional offers on RDs as per the bank's policy. Customers are advised to inquire with the bank or check their official website for ongoing promotions. 

• How frequently does Kotak Mahindra Bank revise RD interest rates?

  Kotak Mahindra Bank may revise its RD interest rates periodically based on regulatory changes, market conditions, and internal policies. 

• What is the minimum deposit required to open an RD account with Kotak Mahindra Bank?

  The minimum deposit required may vary depending on the specific account type and tenure. For example, the Central Bank Recurring Deposit (RD) scheme requires a minimum deposit of Rs. 500. Customers should contact the bank directly or refer to their official website for accurate information. 

• Are senior citizens offered any additional benefits on RD interest rates by Kotak Mahindra Bank?

   Yes, Kotak Mahindra Bank offers additional RD interest rates for senior citizens, providing them with higher returns on their investments. 

• Can I prematurely withdraw my RD with Kotak Mahindra Bank, and how does it affect the interest earned?

  Yes, premature withdrawals are allowed but may attract penalties, affecting the interest earned accordingly. 

• Does Kotak Mahindra Bank offer online RD calculators to estimate returns?

  Yes, Kotak Mahindra Bank may provide online RD calculators on their official website or mobile banking app to estimate returns. 

• Does Kotak Mahindra Bank offer competitive RD interest rates compared to other banks?

  Yes, Kotak Mahindra Bank offers competitive RD interest rates to attract and retain customers. Customers are advised to compare rates across multiple banks to make informed decisions. 

• What documents are needed to open an RD account?

  Essential documents include Proof of residency, PAN Card, Form 60 or 61, ID proof, passport-sized photographs, filled and signed application form, KYC documents, and additional documents for specific entities like Minors, Partnership Firms, etc.

• Can I close my deposit before it matures?

  Yes, premature closure is possible, but it may attract penal interest. 

• How can I apply for a recurring deposit in Kotak Mahindra Bank?**

  New customers need to open a savings account first, while existing customers can apply online or visit the branch. 

• Who can open an RD account with Kotak Mahindra Bank?**

  Individuals, minors, organizations, trusts, associations, and various entities can open RD accounts with Kotak Mahindra Bank. 

• What are the tax implications over the RD from Kotak Mahindra Bank?

  TDS is deducted at 10% if interest exceeds Rs. 10,000 in a fiscal year, with excess TDS claimable through ITR filing.