|Tenure||Interest Rate p.a. ( %)||Senior Citizen Rates p.a. ( %)|
|3 years - less than 4 years||6.25||6.75|
|4 years - less than 5 years||6.25||6.75|
|5 years - 10years||6||6.5|
Get the Best Rates For a Kotak Mahindra Bank Recurring Deposit
Kotak Mahindra Bank offers a regular recurring deposit scheme at competitive interest rates to Indian citizens and HUFs. Customers can make a small deposit every month and get maximum returns on their investments with a Kotak Mahindra recurring deposit plan. The PAN card has to be submitted as a mandatory document when a recurring deposit account is opened. The payment towards a Kotak Mahindra Bank recurring deposit can be done from the customer’s savings account. The interest will be paid to the customer during pre-closure or on maturity of the recurring deposit. Accounts can be opened with minors as the primary applicant and also as joint applications for a minimum time period of 12 months. The recurring deposit tenure can be increased in multiples of three months and the maximum tenure can go up to 10 years, i.e., 120 months. The minimum deposit amount required while opening an account is Rs. 100 and can go up to Rs. 50,000, every month, for tenures up to 10 years. The minimum amount required for tenures going up to 36 months would be Rs. 50,001 to Rs. 1, 00,000.
Kotak Mahindra Bank - Short Term RD Interest Rates
Customers can open Kotak Mahindra recurring deposits with smaller tenures starting at 12 months and going up to 18 months. The interest rate offered for a recurring deposit with a tenure of 12 months is 7.50% and with tenures of either 15 months or 18 months, it is 7.50%.
Kotak Mahindra Bank - Medium and Long Term RD Interest Rates
As medium and long-term recurring deposits, Kotak Mahindra offers accounts with tenures ranging from 21 months, 24 months, 27 months, 30 months, 33 months and up to 4 years. The interest rate charged for tenures ranging from 21 months to 33 months is 7.50% and for tenures from 3 years to below 4 years, it is 7.25%. The longer tenures available are from 4 years to up to 10 years. The interest rate given for a tenure of 4 years to below 5 years is 7.25% and for tenures between 5 years and 10 years, the interest rate is 7.00%.
Kotak Mahindra Bank - Senior Citizen RD Interest Rates
Senior citizens can enjoy slightly higher interest rates on recurring deposits from Kotak Mahindra Bank. All senior citizen recurring deposit accounts get an additional 0.50% higher interest rate per annum. The interest rate offered on senior citizen recurring deposits with a 12-month tenure is 8.00% and with tenures ranging from 15 months to 33 months, it is 8.00%. For tenures ranging between 3 years to below 4 years, the interest rate offered would be 7.75%. A longer recurring deposit tenure from 5 years to up to 10 years, can be opened at an interest rate of 7.50%.
More you need to know about Recurring Deposit
- Compare RD Interest Rates of Kotak Mahindra Bank with Other Banks and Institutions
- Check Features and Schemes of Kotak Mahindra Bank Recurring Deposit
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