A fixed deposit is a safe saving instruments that customers can park their excess funds. All banks offer Fixed Deposit(FD) to their customers. Kotak Bank also offers fixed deposit of different maturities that customers can book online or by visiting the bank branch.
Fixed Deposit give more interest than savings account. Simple Interest rate is used to calculate the interest on fixed deposit. Currently, Kotak Bank offers interest rate from 2.50% to 5.10%.
Click here to check the latest Kotak Bank FD rates.
All citizens of the Republic of India irrespective of their age are eligible to open FDs with banks. Aside from individuals, Hindu Unified Family (HUF), Private or Public Ltd. Co. and Partnership Firms are eligible to invest in a fixed deposit account.
Resident individuals, Hindu Undivided Families, Sole Proprietorship Concern require the following documents in order to invest in an FD:
Trusts require the following documents to open a fixed deposit account with Kotak Mahindra Bank:
Associations and clubs that intend on opening a fixed deposit with Kotak Mahindra Bank require the following documents:
Partnership Firms wishing to open an FD with Kotak Mahindra Bank will be required to provide the following documents:
Kotak Mahindra Bank requires Private or Public Limited Companies opening a fixed deposit with the bank to provide the following documents:
In the instance that one has excess funds, they must always consider investing in a fixed deposit. The Kotak Mahindra Fixed Deposit doesn’t just give the individual stable returns, financial safety and liquidity, but also the choice of when the individual wants the interest on their principal, be it monthly or quarterly, depending on the individual’s needs.
An FD interest rates calculator is an easy to use, online tool which helps customers calculate the interest they will receive on the fixed deposit after the particular time period. The FD calculator monthly interest is also available as is an annual or a full term calculator. An FD interest rates calculator calculates the interest earned on a fixed deposit through the following components:
Kotak Mahindra Bank has an FD calculator on their website which individuals may use to calculate their interest on the fixed deposit.
So, do not hesitate to invest in fixed deposits!
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