The Kotak Mahindra Tax Saving Fixed Deposit is for more than just growing your money. It gives you the triple benefit of tax savings, safety and attractive interests, so you can make the most of your idle funds while earning great returns.
With the tax saving fixed deposit, choose to receive interest quarterly or keep it invested till maturity
Save tax under Sec 80C on amounts between Rs 100 to Rs 1.5 lakhs in a Financial year with tax saving FD at Kotak bank
Tax Saving Fixed Deposit at Kotak Bank is available for a fixed tenure of 5 years
Premature or partial withdrawals are not permitted for tax saving FD's before lock-in period of 5 years
Interest rates for Tax Saving fixed deposit are applicable as per their normal schedule
You can also avail nomination facility with tax saving fixed deposits at Kotak Bank
TDS applicable on interest earned through tax saving FD's will be as per existing guidelines
Tax saving products for senior citizens are available as well
Access our online FD calculator and enter the amount and fixed interest rate offered to you. You will get the results within seconds.
The interest rate for fixed deposits with Kotak Bank varies with maturity period, deposit amount, type of depositor, etc. For instance, the rates are higher for senior citizens compared to residing Indians under the age of 60 years.
At Kotak, you can start a fixed deposit with a minimum amount of Rs. 5,000.There isn’t any maximum limit for the fixed deposit amount.
Yes, we have an option for premature withdrawal from fixed deposit accounts in select cases.
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.
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