Kotak Fixed Deposit Rates
- Kotak Fixed Deposit Rates 2019 Calculator
- Kotak Bank Fixed Deposit Rates
- Kotak Fixed Deposit Interest Rates 2019
- New Fixed Deposit Rates from ICICI Bank. The fixed deposit interest rates of ICICI Bank have been revised. The private sector lender offers fixed deposits with maturity periods ranging from 7 days to 10 years. Senior citizens will continue to get 50 bps higher interest rates than others. The last revision was done by the bank on 20 September 2019.
- Feb 15, 2021 Fixed deposit is the preferred choice for risk-averse investors, along with those who wish to strike a balance in their investment portfolio. This investment option allows customers to earn guaranteed returns at pre-specified interest rates without having to bear market-related risks that come with other investment options like mutual funds.
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.
Fixed Deposit - Avail fixed deposits at attractive interest rates at Kotak Mahindra Bank and earn high returns on your investments. Click here to know the required documents for fixed deposits. The amount invested in Fixed Deposit with a tenure of 5 years with Kotak Mahindra Bank is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable. The applicable tax will be deducted at source, i.e. Kotak Mahindra Bank, in case the annual interest earned crosses Rs.
* 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
- 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
Want to earn safe returns on your investments? Then, look to invest in a fixed deposit that offers fixed returns over time. But the big question is, where should you open a fixed deposit? The question assumes significance given there are many banks and non-banking finance companies (NBFCs) waiting to make you a customer. But the largest public sector bank State Bank of India (SBI) has a distinctive advantage over others. The reason being the attractive interest rates as well as the massive PAN India presence with around 25,000 branches across the country. It won’t be wrong to say that SBI fixed deposit is a symbol of trust. Catch more of it in this page.
Table of Contents
- 2 SBI Fixed Deposit Interest Rates and Other Details
- 4 How To Apply for State Bank of India Fixed Deposit?
- 5 SBI Fixed Deposit Form
- 5.1 A Look at SBI’s Branch Network
SBI Fixed Deposit Schemes
The bank offers several fixed deposit plans to cater the diverse financial needs of the customers. It provides deposits for tenures ranging from 7 days to 10 years at varied interest rates. You can open a fixed deposit account with the lowest amount of INR 1,000. Interestingly, the 5-year tax saver fixed deposit of SBI doesn’t come with the maximum limit on deposits. You have the option to select the investment period and the amount of investment as per your financial goals. Depositors can receive interest at the payout frequency decided by them.
SBI Fixed Deposit Interest Rates and Other Details
| Fixed Deposit Aspects | Details |
|---|---|
| Minimum Deposit Amount | INR 1,000 |
| Maximum Deposit Amount | No Limit |
| Rate of Interest | 2.90% - 6.20% per annum |
| Tenure | 7 days to 10 years |
| Loan Facility | Upto 90% of the Principal Deposit |
| Premature Withdrawal Facility | Available |
| Interest Payout Frequency | Monthly/ Quarterly/ Half Yearly/ Yearly |
SBI Fixed Deposit Interest Rates March 2021
SBI Fixed Deposit Interest Rates generally range from 2.90% - 6.20% per annum which is quite high seeing the current market standards. The bank pays an additional interest to senior citizens. To know the FD interest rate of different investment periods, check the interest rate table given below:
Interest Rates on Retail Deposits Below INR 2 Crore
| Deposit Periods | Interest Rates for General Public (in per annum) | Interest Rates for Senior Citizens (in per annum) |
|---|---|---|
| 7 - 45 Days | 2.90% | 3.40% |
| 46 - 179 Days | 3.90% | 4.40% |
| 180 - 210 Days | 4.40% | 4.90% |
| 211 Days - Less Than 1 Year | 4.40% | 4.90% |
| 1 Year - Less Than 2 Years | 5.10% | 5.60% |
| 2 Years - Less Than 3 Years | 5.10% | 5.60% |
| 3 Years - Less Than 5 Years | 5.30% | 5.80% |
| 5 Years - 10 Years | 5.40% | 6.20% |
Interest Rates on Retail Deposits of INR 2 Crore and Above
| Deposit Periods | Interest Rates for General Public (in per annum) | Interest Rates for Senior Citizens (in per annum) |
|---|---|---|
| 7 - 45 Days | 2.90% | 3.40% |
| 46 - 179 Days | 2.90% | 3.40% |
| 180 - 210 Days | 2.90% | 3.40% |
| 211 Days - Less Than 1 Year | 2.90% | 3.40% |
| 1 Year - Less Than 2 Years | 2.90% | 3.40% |
| 2 Years - Less Than 3 Years | 3.00% | 3.50% |
| 3 Years - Less Than 5 Years | 3.00% | 3.50% |
| 5 Years - 10 Years | 3.00% | 3.50% |
SBI Fixed Deposit Calculator
The SBI Fixed deposit calculator is the tool which gives an exact idea about the amount of interest that you can get on the principal amount deposited under the scheme. Using it they can calculate the total amount they are likely to receive after the maturity of the fixed deposit. They can even reinvest the interest amount to yield more interest at maturity.
How To Apply for State Bank of India Fixed Deposit?
Kotak Fixed Deposit Rates 2019 Calculator
To apply for a fixed deposit at SBI, the candidate needs to fill the application form by visiting the nearest bank branch. Other way is to download the application form from the bank’s official website and submit it along with the requisite documents at the branch office. Candidates can even open the FD account online from the comfort of your home/office and save your precious time. You must have the following to apply online.
- Savings Account with SBI
- Internet banking username and password
- At least one transaction account should be mapped to the username
Steps To Apply Online
- Log in to the Online SBI account.
- Enter the username and password
- Click on the Login button
- Once the savings account is visible, click on the e- Fixed Deposit link provided on the menu.
- On clicking, the page will open where the depositor can create various deposits online.
- From the left-hand side menu, select the e-TDR/STDR option.
- Now feed the savings account number that is to be debited. Enter the amount and select the TDR or STDR option.
- Click on the confirmation button. Now, the online fixed deposit account is generated.
SBI Fixed Deposit Form
The SBI fixed deposit form is available online as well as at branch offices. In order to avail the benefits of fixed deposits, you need to fill the following details in the form:
- Customer status – existing customers or new to the bank
- Applicant’s details
- Co-applicant’s details
- Funding account details i.e., the account to be debited
- Term of deposit
- Product name or the name of deposit scheme
- Frequency of interest payable
- Details of account in which interest is to be credited
- Maturity instructions (tenure of policy, auto-renewal)
- Signature of both the customers
Kotak Bank Fixed Deposit Rates
A Look at SBI’s Branch Network
Kotak Fixed Deposit Interest Rates 2019
SBI is an Indian multinational, public sector banking and the financial company which has its headquarters in Mumbai. It is one of the most trustworthy bank in the country. It has a wide network of 14,000 branches spread across the country.