Kotak Bank FD Calculator

Total investment
Rate of interest (p.a)
%
Time period
Years
Invested amount
Est. returns
Total value
Total investment
Total returns

Kotak Mahindra Bank provides three types of FD schemes to its customers to invest in. If a customer wants to check the interest he/she will earn on the principal amount, the Kotak FD calculator can be of great help as it lets you calculate the interest that your money will earn when invested in a fixed deposit in Kotak Bank.

This calculator computes the details of the investment, i.e. the principal amount on maturity after the interest is compounded on days or a monthly, quarterly, half-yearly, and yearly basis. The FD calculator of Kotak requires the deposit amount, tenure and applicable Kotak Mahindra FD rates to calculate the maturity amount.

Also Read, Kotak Mahindra Bank FD Interest Rates

Various Factors that Affect Kotak FD Interest Earnings?

The Kotak FD maturity amount that you will get depends upon

Rate of Interest: It is the rate at which the returns are compounded on your principal amount according to the tenure chosen.

Time Period: Along with factors such as the principal amount and the rate of interest, the duration of the investment is also a crucial factor. Based on your FD tenure the rate of interest is decided.

Principal Investment Amount: It is the main deciding factor. The interest is earned on the principal amount, which is the amount deposited by you at the time of opening the account.

Compounding Frequency: The interest on fixed deposits is compounded in different ways, i.e. quarterly, monthly, yearly, and half-yearly. This time interval plays an important role in determining the maturity value on completion of the tenure of the term deposits.

Kotak Bank FD Term wise Interest Rates

Kotak Bank Short-term FD Interest: For a Kotak FD with tenure ranging from 7 days to 365 days, the interest rate offered is from 2.50% p.a. to 4.40% p.a. These deposits are known as short term deposits as they have a tenure of less than 1 year.

Kotak Bank Medium-term FD Rate: Medium-term fixed deposits have their tenures ranging from more than 1 year to less than 5 years. The interest offered by the bank on these deposits ranges from 4.50% p.a. to 5.25% p.a.

Kotak Bank Long-term Deposit FD Interest: These deposits’ tenure ranges from 5 years to 10 years and offers an interest rate of 5.30% p.a.

How is Kotak Bank FD Interest calculated?

The interest of Kotak Bank FD is calculated with the help of the formula given below:

A = P(1+r/n)^nt

Where,

A = Maturity amount

P = Invested amount

r = Interest rate as a decimal

n = number of times interest is compounded

t = tenure of the deposit

However, the online Kotak Fixed Deposit calculator can be used anytime to estimate the value of interest earned on the deposited amount in a hassle-free way.

Kotak FD Interest Payout and Reinvestment

Kotak bank provides two options for interest payment. First is the interest payout, in which the accrued interest is paid to the investor regularly at the frequency chosen. It can be either paid out on a monthly, quarterly, semi-annual, or annual basis.

The other option is the reinvestment of interest in which the interest is not immediately paid but held and reinvested with the original deposit amount. This reinvestment is, however, done after deducting tax at source (TDS). Reinvestment often leads to higher returns because the principal on which interest is calculated is enhanced every time the interest gets accrued.

An important thing to note here is the FD rates remain the same for both types of interest payment options. One can use the Kotak Bank Fixed Deposit calculator to determine the interest in both options.

Tax on Kotak Fixed Deposit

In case the interest earned by you across all your fixed deposits in a year exceeds 40,000, the bank will deduct TDS at a rate of 10%. Furthermore, if your PAN is not updated in the Kotak Bank records, it must deduct twice the TDS, I.e. at the rate of 20%. So, updating your PAN details on your FD is imperative.

The account holder would also need to add the interest income across all Kotak Bank FD’s and other FD’s to their taxable income for the year. Based upon the tax bracket, income tax is payable on this income.

Fixed Deposit

Types of Fixed Deposit

Overdraft Against FD

Monthly Interest on 1 Lakh Fixed Deposit

Non Callable Fixed Deposits

Fixed Deposit(FD) Sweep-in

Auto Renewal of Fixed Deposit

Flexi Fixed Deposit

Senior Citizen FD Interest Rates

Fixed Deposit Double Scheme

Monthly Interest Payout Fixed Deposit(FD)

Invest the way you want
Join millions of Indians who trust and love Groww
Loading...
ⓒ 2016-2024 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 5.1.5
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  GROWWMF |  SBI |  AXIS |  HDFC |  UTI |  NIPPON INDIA |  ICICI PRUDENTIAL |  TATA |  KOTAK |  DSP |  CANARA ROBECO |  SUNDARAM |  MIRAE ASSET |  IDFC |  FRANKLIN TEMPLETON |  PPFAS |  MOTILAL OSWAL |  INVESCO |  EDELWEISS |  ADITYA BIRLA SUN LIFE |  LIC |  HSBC |  NAVI |  QUANTUM |  UNION |  ITI |  MAHINDRA MANULIFE |  360 ONE |  BOI |  TAURUS |  JM FINANCIAL |  PGIM |  SHRIRAM |  BARODA BNP PARIBAS |  QUANT |  WHITEOAK CAPITAL |  TRUST |  SAMCO |  NJ