About Kotak Mahindra Bank Fixed Deposit. Kotak Mahindra Bank, a leading Indian Private Sector bank, deals in fixed deposits to cater the diverse needs of the depositors. These deposit plans are for both existing and new customers. The bank offers the interest rate of up to 6.75% to the general public and 7.25% to the senior citizens. Factors Influencing Kotak Bank FD Rates. Interest rates are the most critical part of fixed deposits, apart from the security it provides to depositors.These rates depend primarily on the following factors: Age of the depositor – Individuals above the age of 60 years, i.e. Senior citizens are eligible for a higher rate of interest on their deposits compared to general citizens. Kotak Fixed deposit rate for long tenures of 12 to 23 months is 6.20%, for 23 months one day to less than four years is 6.10% and for four years one day to 10 years is 6%. The revised Kotak FD rates came into effect from 5 March 2020. Kotak FD Interest Payout and Reinvestment Kotak bank provides two options for interest payment. 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. Citibank offers a wide range of deposit schemes. The interest rates for Citibank Fixed Deposits (FDs) are from 2.75% p.a. One can pick an FD scheme with tenures between 7 days and above 1096 days. The highest Citibank FD rate is 3.90% p.a. For a maturity period that is above 1096 days. Citibank Fixed Deposit Rates: Under Rs.2 Crore.
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.
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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.
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 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:
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% |
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% |
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.
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.
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:
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.
Deposit : Interest Rates | ||||||
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL ALLOWED | ||||||
#Simple interest rate *Senior Citizens' rate is not applicable on NRO/NRE deposits - No interest will be payable for NRE TDs staying less than 1 year. - For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest. - Standalone Fixed Deposits of tenure 181 days and above linked to saving / current account will be treated as per the regular sweep deposit functionality and penal charge will be applicable as above. - For ActivMoney (2 way sweep deposits) Regular Fixed Deposit rates will be applicable for all customers including Senior Citizen's / Bank Staff - Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank. - Interest on Fixed Deposit can be paid for a period of less than a quarter (monthly interest payout) at the discounted interest rates as per RBI directives - Above rates are applicable for mentioned dates only and are subject to change without prior notice - The calculation of interest is basis 365 days in a year for deposits booked in a non-leap year and 366 days in a year for fixed deposits booked in a leap (calendar) year. | ||||||
INTEREST RATES FOR DOMESTIC / NRO / NRE FIXED DEPOSITS - PREMATURE WITHDRAWAL NOT ALLOWED | ||||||
#Simple interest rate - Premature withdrawal of this deposit is not allowed till maturity. - No interest will be payable for NRE TDs staying less than 1 year. - For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest. - ActivMoney/ Sweep in Facility is not available on this deposit - Auto Renew option is not available. - Acceptance of deposits of Rs. 5 cr. and above is at the discretion of the Bank - Monthly Interest Payout option is not available. - Above rates are applicable for mentioned dates only and are subject to change without prior notice - Bank will not extend any kind of facility including OD against Fixed Deposits booked under No Premature Withdrawal scheme; - Bank will not book Fixed Deposits in respect of funds lying in Escrow account / arrangement - The calculation of interest is basis 365 days in a year for deposits booked in a non-leap year and 366 days in a year for fixed deposits booked in a leap (calendar) year. | ||||||
Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE) Interest will be paid at the rate prevailing on the date of deposit for the tenure the deposit or the withdrawn amount remained with the bank or at the contracted rate, whichever is lower after deducting applicable penal charge for premature withdrawal as per Terms & Conditions of the bank. As per Terms & Conditions of Fixed Deposit Accounts of the Bank, the penal charge on premature closure of fixed deposits including partial closure has been fixed by the bank as below on fixed deposits booked/ renewed on or after1st November, 2012.
In addition to the above, no interest will be paid on the principal amount withdrawn from NRE fixed deposits before completion of one year. |