Important: Penal Charge on Pre-mature withdrawal of Fixed Deposits (Domestic / NRO / NRE)
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. Bank will not book Fixed Deposits in respect of funds lying in Escrow account / arrangement Bank will not extend any kind of facility including OD against Fixed Deposits booked under No Premature Withdrawal scheme and above is at the discretion of the Bank ActivMoney/ Sweep in Facility is not available on this deposit Premature withdrawal of this deposit is not allowed till maturity.
*Senior Citizens' rate is not applicable on Domestic/NRO/NRE deposits The calculation of interest is basis 365 days in a non-leap year and 366 days in a leap (calendar) year.ĭisclaimer : Premature withdrawal Not Allowed Deposit Above rates are applicable for mentioned dates only and are subject to change without prior notice 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 and above is at the discretion of the Bank. For ActivMoney (2 way sweep deposits) Regular Fixed Deposit rates will be applicable for all customers including Senior Citizen's / Bank Staff 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 below mentioned in premature withdrawal penalty section.
For Fixed Deposits with tenure below 181 days, interest will be calculated at maturity as Simple Interest. No interest will be payable for NRE TDs staying less than 1 year. *Senior Citizens' rate is not applicable on NRO/NRE deposits #The above rates are effective from 5 th January’23 Fixed Deposit For more details on MIBOR Linked Floating Interest rate please contact your relationship manager or visit your nearest Kotak Mahindra Bank Branch.1 lakh (all rates applicable on the end of the day balances) if the balance exceeds Rs. MIBOR Linked floating interest rate will be applicable on entire balance above Rs.The bank offers floating rate linked savings deposit. These interest rates are applicable for Resident Account 50 lakhs will continue to earn 3.50% interest p.a. Daily balances in Savings Account up to Rs. Jun 13, 2022, daily balances in Savings Account above Rs. Thus, the Savings Bank interest calculated on daily product basis will be paid at quarterly intervals on 30 th June, 30th September, 31st December & 31 st March each year. With effect from 1 April 2016, the periodicity of payment of interest on Savings Bank Account will be quarterly.Learn company provided systems to fully track, record, follow-up, and capture all related sales activities in a timely and accurate manner.
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