Kotak Fixed Deposit Rates
Want to earn safe returns on your investments? Then, look to invest in a fixed deposit that offers fixed returns over time. But the big question is, where should you open a fixed deposit? The question assumes significance given there are many banks and non-banking finance companies (NBFCs) waiting to make you a customer. But the largest public sector bank State Bank of India (SBI) has a distinctive advantage over others. The reason being the attractive interest rates as well as the massive PAN India presence with around 25,000 branches across the country. It won’t be wrong to say that SBI fixed deposit is a symbol of trust. Catch more of it in this page.
- Kotak Fixed Deposit Rates For Senior Citizens
- Kotak Bank Fixed Deposit Rates 2019 Calculator
- Kotak Mahindra Fixed Deposit Rates
Table of Contents
- 2 SBI Fixed Deposit Interest Rates and Other Details
- 4 How To Apply for State Bank of India Fixed Deposit?
- 5 SBI Fixed Deposit Form
- 5.1 A Look at SBI’s Branch Network
Factors Influencing Kotak Bank FD Rates. Interest rates are the most critical part of fixed deposits, apart from the security it provides to depositors.These rates depend primarily on the following factors: Age of the depositor – Individuals above the age of 60 years, i.e. Senior citizens are eligible for a higher rate of interest on their deposits compared to general citizens. Fixed Deposit - Get fixed deposits with high interest rates at Kotak Mahindra Bank to earn good returns on your investment. Click here to know more about the fixed deposit interest rates so that you can pick wisely the fixed deposit that best suits your needs. The amount invested in Fixed Deposit with a tenure of 5 years with Kotak Mahindra Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable. The applicable tax will be deducted at source, i.e. Kotak Mahindra Bank, in case the annual interest earned crosses Rs.
SBI Fixed Deposit Schemes
Fixed Deposit (FD) Interest rates for regular & senior citizens from top banks & non-banking finance companies in India. Invest online in best & highest FD rate 2021. Kotak Mahindra Bank revises fixed deposit rates; Check latest FD rates Kotak Mahindra Bank offers an interest rate of 2.5 percent, 2.75 percent, and 3.25 percent for FDs maturing in 7 to 30 days.
The bank offers several fixed deposit plans to cater the diverse financial needs of the customers. It provides deposits for tenures ranging from 7 days to 10 years at varied interest rates. You can open a fixed deposit account with the lowest amount of INR 1,000. Interestingly, the 5-year tax saver fixed deposit of SBI doesn’t come with the maximum limit on deposits. You have the option to select the investment period and the amount of investment as per your financial goals. Depositors can receive interest at the payout frequency decided by them.
SBI Fixed Deposit Interest Rates and Other Details
| Fixed Deposit Aspects | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Maximum Deposit Amount | No Limit |
| Rate of Interest | 2.90% - 6.20% per annum |
| Tenure | 7 days to 10 years |
| Loan Facility | Upto 90% of the Principal Deposit |
| Premature Withdrawal Facility | Available |
| Interest Payout Frequency | Monthly/ Quarterly/ Half Yearly/ Yearly |
SBI Fixed Deposit Interest Rates March 2021
SBI Fixed Deposit Interest Rates generally range from 2.90% - 6.20% per annum which is quite high seeing the current market standards. The bank pays an additional interest to senior citizens. To know the FD interest rate of different investment periods, check the interest rate table given below:
Interest Rates on Retail Deposits Below INR 2 Crore
| Deposit Periods | Interest Rates for General Public (in per annum) | Interest Rates for Senior Citizens (in per annum) |
|---|---|---|
| 7 - 45 Days | 2.90% | 3.40% |
| 46 - 179 Days | 3.90% | 4.40% |
| 180 - 210 Days | 4.40% | 4.90% |
| 211 Days - Less Than 1 Year | 4.40% | 4.90% |
| 1 Year - Less Than 2 Years | 5.10% | 5.60% |
| 2 Years - Less Than 3 Years | 5.10% | 5.60% |
| 3 Years - Less Than 5 Years | 5.30% | 5.80% |
| 5 Years - 10 Years | 5.40% | 6.20% |
Interest Rates on Retail Deposits of INR 2 Crore and Above
| Deposit Periods | Interest Rates for General Public (in per annum) | Interest Rates for Senior Citizens (in per annum) |
|---|---|---|
| 7 - 45 Days | 2.90% | 3.40% |
| 46 - 179 Days | 2.90% | 3.40% |
| 180 - 210 Days | 2.90% | 3.40% |
| 211 Days - Less Than 1 Year | 2.90% | 3.40% |
| 1 Year - Less Than 2 Years | 2.90% | 3.40% |
| 2 Years - Less Than 3 Years | 3.00% | 3.50% |
| 3 Years - Less Than 5 Years | 3.00% | 3.50% |
| 5 Years - 10 Years | 3.00% | 3.50% |
SBI Fixed Deposit Calculator
The SBI Fixed deposit calculator is the tool which gives an exact idea about the amount of interest that you can get on the principal amount deposited under the scheme. Using it they can calculate the total amount they are likely to receive after the maturity of the fixed deposit. They can even reinvest the interest amount to yield more interest at maturity.
How To Apply for State Bank of India Fixed Deposit?
To apply for a fixed deposit at SBI, the candidate needs to fill the application form by visiting the nearest bank branch. Other way is to download the application form from the bank’s official website and submit it along with the requisite documents at the branch office. Candidates can even open the FD account online from the comfort of your home/office and save your precious time. You must have the following to apply online.
- Savings Account with SBI
- Internet banking username and password
- At least one transaction account should be mapped to the username
Steps To Apply Online
- Log in to the Online SBI account.
- Enter the username and password
- Click on the Login button
- Once the savings account is visible, click on the e- Fixed Deposit link provided on the menu.
- On clicking, the page will open where the depositor can create various deposits online.
- From the left-hand side menu, select the e-TDR/STDR option.
- Now feed the savings account number that is to be debited. Enter the amount and select the TDR or STDR option.
- Click on the confirmation button. Now, the online fixed deposit account is generated.
SBI Fixed Deposit Form
The SBI fixed deposit form is available online as well as at branch offices. In order to avail the benefits of fixed deposits, you need to fill the following details in the form:
- Customer status – existing customers or new to the bank
- Applicant’s details
- Co-applicant’s details
- Funding account details i.e., the account to be debited
- Term of deposit
- Product name or the name of deposit scheme
- Frequency of interest payable
- Details of account in which interest is to be credited
- Maturity instructions (tenure of policy, auto-renewal)
- Signature of both the customers
A Look at SBI’s Branch Network
SBI is an Indian multinational, public sector banking and the financial company which has its headquarters in Mumbai. It is one of the most trustworthy bank in the country. It has a wide network of 14,000 branches spread across the country.
Kotak Fixed Deposit Rates For Senior Citizens
Table of Contents
- 3 Fixed Deposit Schemes Offered by Kotak Mahindra Bank
- 4 Eligibility Criteria and Documents Required
- 4.4 Kotak Mahindra Bank Customer Care Number
About Kotak Mahindra Bank Fixed Deposit
Kotak Mahindra Bank, a leading Indian Private Sector bank, deals in fixed deposits to cater the diverse needs of the depositors. These deposit plans are for both existing and new customers. The bank offers the interest rate of up to 6.75% to the general public and 7.25% to the senior citizens. The investment can be made for the time period that suits the investor as the bank has set a wide range of tenure starting from 7 days to 10 years. Interest payment frequency is decided by the customer, i.e., you can receive your interest monthly, quarterly or at maturity. The deposits are easily liquidated. Interest is paid at special rates if the amount is not withdrawn. A customer can avail tax benefits and loan facility. Various deposit schemes are issued by the bank keeping in mind the different requirements of the customers. The investment plans you can opt for are as follows:
- Kotak Mahindra Bank Regular Fixed Deposits
- Kotak Mahindra Bank Senior Citizen Deposits
- Kotak Mahindra Bank Tax Saving Deposits
- Kotak Mahindra Bank Ace Deposits
Kotak Mahindra Bank FD Interest Rates March 2021
| Maturity Period | Less than INR 2 crore (For Regular Depositors) |
|---|---|
| 7 Days- 14 Days | 3.50% |
| 15 Days - 30 Days | 4.00% |
| 31 Days - 45 Days | 4.50% |
| 46 Days - 90 Days | 5.10% |
| 91 Days - 120 Days | 5.25% |
| 121 Days - 179 Days | 5.30% |
| 180 Days | 5.75% |
| 181 Days - 364 Days | 5.80% - 6.05% |
| 365 Days - 389 Days | 6.20% |
| 390 Days | 6.20% |
| 391 Days - less than 23 months | 6.20% |
| 23 months - less than 3 years | 6.10% |
| 3 years - less than 4 years | 6.10% |
| 4 years - less than 5 years | 6.00% |
| 5 years and above upto & inclusive of 10 years | 6.00% |
Fixed Deposit Schemes Offered by Kotak Mahindra Bank
Kotak Mahindra Bank Regular Fixed Deposits
Regular fixed deposit is the scheme that has several interest payout options. That is, the depositor can receive interest as per his requirements. The depositor can decide when he/she wants the interest on the principal amount. The minimum tenure of 181 days is necessary for monthly interest payout.
The minimum amount required to invest in Regular Fixed Deposit is INR 10,000 for the existing customers. However, the minimum investment amount for new customers is INR 25,000.
Kotak Mahindra Bank Senior Citizen Deposits
The bank offers a special rate of interest on deposits to senior citizen. Any residential Indian citizen above 60 years of age can avail advantage of this scheme. The new customers need to submit a valid age proof along with the application form. Alike regular fixed deposit, senior citizens too, have the facility of choosing from multiple interest payout options.
| Particulars | Details |
|---|---|
| Minimum Investment Amount | INR 10,000 INR 25,000 (for new customers) |
| Minimum Tenure | 7 days |
| Maximum Tenure | 10 years |
| Interest Payout Frequency | Monthly, quarterly or at maturity |
| Nomination Facility | Available |
| Sweep-in-Facility | Available |
| Partial/Premature Withdrawal | Allowed |
| Loan/Overdraft | Available |
Kotak Mahindra Bank Tax Saving Deposits
You can save tax under Section 80C of Income Tax Act and earn returns on your deposit by investing in Kotak Mahindra Bank Tax Saving Scheme. An initial deposit of INR 5,000 is required to open a term deposit.
| Particulars | Details |
|---|---|
| Initial Deposit Amount | INR 5,000 |
| Minimum Tenure | 5 years |
| Maximum Tenure | 10 years |
| Lock-in-Period | 5 years |
| Nomination Facility | Available |
| Partial/Premature Withdrawal | Not allowed |
| Interest Payout Frequency | Quarterly, at maturity |
Documentation of Tax Saving Deposits
The following can apply for Tax Saving Deposit with the requisite documentation:
| Resident Individuals, Hindu Undivided Family | 1. Proof of identity: PAN card, Voter ID Card, Passport, Driving license 2. A photograph 3. KYC Form |
Kotak Mahindra Bank Ace Deposits
It is a mixture of fixed deposit and mutual fund investment. The interest earned on deposit is invested in an equity mutual fund, by way of Systematic Investment Plan through Standing Instructions placed on savings accounts. This plan ensures the safety of principal amount and the investor is subjected to earn higher returns.
An initial deposit of INR 10,000 is required for this term deposit.
Eligibility Criteria and Documents Required
| Depositor Type | Documents |
|---|---|
| Resident Individuals, Hindu Undivided Family, Sole Proprietorship Concern | 1. Proof of identity: PAN card, Voter ID Card, Passport, Driving license 2. A photograph 3. KYC Form |
| Trusts | 1. Copy of the Trust Deed 2. Copy of the registration certificate 3. Copy of the Resolution of The Trustees 4. Authorising the members concerned to open and operate the account 5. Photographs of the members operating the account |
| Associations / Clubs | 1. By-laws of the Association 2. Copy of the Resolution by the board authorising the members concerned to open and operate the account 3. Photographs of the members operating the account |
| Partnership Firm | 1. Partnership Deed 2. Letter from partners approving the persons concerned to open and operate the account 3. Photographs of the persons operating the account |
| Public or Private Public Public or Private Limited Companies: | 1. Board Resolution / Authority Letter 2. Memorandum & Articles of Association 3. Certificate of Incorporation 4. Certificate of Commencement of Business (Public Limited Company) 5. Form 32 in case list of directors are not original subscribers to Memorandum & Articles of Association (in case of Private Limited Cos) Duly acknowledged by ROC 6. Governing Act / Rules and Regulations(PSUs) (certified true copy) |
Features/Benefits
- Wide range of tenure
- Easy liquidity
- Good interest rate
- Overdraft facility available
- Facility of net banking
Kotak Mahindra Fixed Deposit Calculator
The calculator helps you know in advance the end result of your investment. You can accordingly plan, the amount of deposit and the time period for which you want to invest.
Kotak Bank Fixed Deposit Rates 2019 Calculator
The maturity amount payable depends upon the amount invested, the tenure of investment and the rate of interest on that tenure.
How to Apply
Both existing and new customers can apply for the fixed deposits at Kotak Mahindra Bank. You can apply in the mentioned schemes as per your eligibility. The schemes are open for investment online as well as at the branch offices.
Kotak Mahindra Bank Customer Care Number
Kotak Mahindra Fixed Deposit Rates
All your queries and doubts get answered by customer care executives. You can call anytime on the helpline number as the service is available 24 X 7. Give a call on 1860 266 2666.