Kotak Bank FD Calculator

Last Updated 19th Jan 2017

FD Calculator Kotak Bank – Know your maturity amount?

  • Kotak Bank, a leading Private Bank in India offers attractive interest rates upto 6.75% on its fixed deposits.
  • FD maturity amount that you will get depends upon
    • Deposit amount
    • Rate of interest
    • FD tenure
    • Compounding frequency
    • TDS applicability and TDS rate
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Interest Compounding Frequency
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Kotak Bank Fixed Deposit calculator – FD Options

  • In a periodic interest payout option, Kotak Bank would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Kotak Bank cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

Fixed Deposit calculator Kotak Bank – Will TDS be deducted?

  • In case the interest earned by you across all your fixed deposits across all branches of Kotak Bank in a year exceeds 0, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Kotak Bank records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
  • Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your Kotak Bank FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • Kotak Bank will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

Kotak Bank FD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of Kotak Bank in your city - Find Kotak Bank Branches here

  • FD Calculator of all banks in India

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News - Jan 2017
17th Jan 17 Kotak Mahindra Bank acquires 19.9 percent stake in Airtel M Commerce Services
Kotak Mahindra Bank Limited has bought a 19.9 percent stake in Airtel M Commerce Services Limited for Rs. 98.38 crore to set up payments bank. AMSL provides electronic payment services to the customers under the Airtel Money brand name.
17th Jan 17 Gold demand in India tumbled by 24 percent 2016, lowest in seven year
Kotak Mahindra Bank in its report has highlighted a decline of 24 percent in gold demand during 2016. Gold demand in India in 2016 was approx 750 metric tons as compared to 858 tons in 2015. The report presents a cautious outlook on the future demand of gold on global bullion and expects a further decline in gold demand to 400 metric tons in 2017 as compared to 575 tons in 2016.
13th Jan 17 Kotak Mahindra Bank reduces savings account deposit rates
Kotak Mahindra Bank has reduced its saving account deposit rates for deposits above Rs. 5 crores to 5.5 percent as compared to 6 percent earlier. The revised saving account deposit rate for deposits up to Rs. 1 lakh now stands at 5 percent. The rates are effective from 6th January, 2017.
07th Jan 17 Kotak Mahindra Bank cuts base rate to 9.30 percent
Kotak Mahindra Bank has reduced its base rate by 10 basis points to 9.30 percent as compared to 9.40 percent earlier. The rate is effective from 6th January, 2017.
02nd Jan 17 Kotak Mahindra Bank reduces MCLR rate by up to 45 basis points
Kotak Mahindra Bank has reduced its overnight and six months marginal cost of lending rates to 8.20 and 8.65 percent respectively. The revised MCLR for one year now stands at 9.20 percent. The bank has reduced its two and three year MCLR by 25 basis points to 9 percent as compared to 9.25 percent earlier. The new rates are effective from 1st January, 2017.
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