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- Kotak Bank
Kotak Bank RD Interest Calculator
RD Calculator Kotak in India Jan 2021
Tenure | General Rates | Senior Citizen Rates |
---|---|---|
12 months | 5.50% | 6.00% |
15 months | 5.50% | 6.00% |
18 months | 5.50% | 6.00% |
21 months | 5.50% | 6.00% |
24 months | 5.00% | 5.50% |
27 months | 5.00% | 5.50% |
30 months | 5.00% | 5.50% |
33 months | 5.00% | 5.50% |
3 years to 3 years 364 days | 5.00% | 5.50% |
4 years to 4 years 364 days | 5.00% | 5.50% |
5 years to 10 years | 5.00% | 5.50% |
Kotak Recurring Deposit Calculator
Kotak Bank, a leading Private Bank in India offers attractive interest rates upto 5.50% on its Recurring deposits.
RD maturity amount that you will get depends upon
- Deposit amount
- Rate of interest
- RD tenure
- Compounding frequency
- TDS applicability and TDS rate
Kotak Recurring Deposit Interest Calculator
- 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 same across the life of the deposit. On maturity of RD, 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 RD maturity amount using the RD calculator.
Tax on Recurring Deposit Kotak Bank
- In case the interest earned by you across all your recurring deposits across all branches of Kotak Bank in a year exceeds 10,000, 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 RD.
- We aren’t done yet. This was only the TDS. Now, you would need to add the interest income on all your Kotak Bank RD’s and other RD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. 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 RD 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 RD 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
FAQs
✅What is the highest interest earned on Kotak Bank recurring deposit?
You can earn a maximum interest of 5.50% on Kotak Bank recurring deposit.
✅Are there any extra benefits for senior citizens on fixed deposit of Kotak Bank?
Yes, senior citizens get extra benefit of 0.5% interest rates on their RD in Kotak Bank.
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- 2020-07-27 : Kotak Mahindra Bank Q1 net dips 8.5% to Rs. 1,244 cr
Kotak Mahindra Bank reported a fall of 8.5% in its standalone net profit at Rs.1,244 crores for the quarter ending 30 June 2020. It was Rs. 1,360 crores in the year-ago period. The net interest income backed by retail loans home, personal, gold, car loans and two-wheeler loans along with business and mudra loans increased by 17.81% to Rs. 3,723.85 crore. - 2020-04-08 : Kotak Mahindra Bank Q4 deposits grew by 20%
Kotak Mahindra Bank reported 20% year on year increase in its FD and RD base to Rs 2.59 trillion in the quarter ending March 2020 against Rs 2.16 trillion in the corresponding quarter of the preceding year. In addition to this, advances of the bank reported an increase of 6.7 per cent in Q4 FY20 to Rs 2.2 trillion compared to Rs 2.05 trillion a year ago.
