The Kotak Mahindra Senior Citizen Fixed Deposit is designed to facilitate senior citizens with maximum returns on their savings. That’s why, this deposit offers special rates for all Resident Indian Individuals over the age of 60.
Attractive interest rates
Make a deposit of as low as
7 days to 10 years
Choose to receive interest monthly,
quarterly or keep it invested till maturity
Kotak Bank customers can Book
Fixed Deposits online through Net Banking
of Fixed Deposit is permitted
Nomination facility is available
Liquidity through sweep-in facility
Flexibility to keep your
financial portfolio diversified
Avail Overdraft facility
against Fixed Deposit
Disclaimers: For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest.
For monthly pay-out Fixed Deposit, minimum tenure is 181 days and interest payout will be discounted based on the prevailing rates.
You become liable for TDS* when the aggregate interest you earn for all deposits held in a particular customer ID is greater than Rs. 40,000/- (Rs.50,000 in case of senior citizen) in a financial year.
TDS is deducted every time the Bank pays/re-invests interest during the financial year in accordance with the provisions of Income Tax Act as amended from time to time.
When interest amount is insufficient to recover TDS, the same is recovered from the principal of the deposit.
Yes, in case of reinvestment deposits, the interest reinvested is post TDS recovery.
TDS is deducted every time the Bank pays/re-invests interest during the financial year. TDS is also deducted on unpaid interest accrued at the end of financial year viz. 31st March.
Worried about the void after retirement - A life free of a lot of survival worries and daily hassles, awaits you.