Note: Interest rates are subject to periodic changes. The applicable interest rates will be offered based on the date and time of receipt of the funds by the bank.

Which is why Mahindra Finance’s Fixed Deposit scheme has been specially designed to assure you of guaranteed returns at highly competitive interest rates with this low-risk investment. Fixed Deposit rates w.e.f. 24th August 2020. Jan 28, 2021 Fixed Deposit Interest Rates in India - Important Terms Timely Closure: It refers to the closure of your FD account at the time it matures. When you close your fixed deposit account on its maturity date, the bank pays you back the principal amount with the interest that you have accumulated during the term chosen. In this article, we will discuss how you can select the most suitable NRE fixed deposit and will also give you the best NRE FD rates by different banks in India. NRIs cannot open a regular account that is designed for Indian Residents as per the guidelines by Foreign Exchange Management Act (FEMA) and this can attract huge penalties if breached. Kotak Mahindra Bank Fixed Deposit Rate. A fixed deposit, popularly known as an FD and also called Term Deposit is an investment instrument that allows investors to deposit a lump sum amount for a fixed term and earn an interest on their investment. FD is a popular. Kotak Mahindra Bank Fixed Deposit Rates It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below. For Domestic Deposits - Less than Rs. 2 cr (As on 6th September 2019) For Domestic Deposits - Rs. 5 cr (As on 15th October 2019).

* Recurring Deposit Advice will be dispatched to your registered mailing address with the bank within 3 - 4 working days of opening the RD account

Penalty on delay in payment of RD installment

• In case of delay in payment of any installment post grace period of 5 days, penal interest at the rate of RD interest rate (contracted rate of interest at the time of booking of the RD) + 2% p.a. or such other rate as may be specified by Bank from time to time, will be charged for the month of delay.
• Fraction of a month will be treated as full month for the purpose of calculating such interest.
• Even if the payment for the month is honoured, but the standing instruction towards installment recovery has failed, the Bank will recover a standing instruction failure charge from the current / savings bank account as per General Features and Schedule of Charges (GFSC)
• The total penal interest chargeable shall be recovered from the total amount of interest payable by the bank and shall be recovered only at the time of maturity or premature closure of the account as the case may be.

Premature Withdrawal of RD

Kotak Fixed Deposit Interest Rates 2019

• In case of premature closure of this deposit within a month, no interest shall be paid and only principal amount will be returned.
• On premature withdrawal of RD. 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 post deducting penal charge of 0.5% on premature withdrawal of deposit