Kotak RD (Recurring Deposit) Calculator Online
Calculate the returns on your recurring deposit investment
Goal Amount
Expected Return (P.A)
Time Period
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Summary
To achieve a goal amount of ₹15,00,000 in 10 year(s), and at 5% inflation, you would need to invest ₹9,20,869 at a 10% rate of return.
Total Investment Breakup
Lumpsum Investment
Interest Earned
Total Investment
| Year | Investment Amount (₹) |
Wealth Gained (₹) |
Expected Amount (₹) |
|---|
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Kotak RD Calculator
All you need to know about Kotak RD Investment Calculator
Kotak Mahindra Bank is a well-known bank that offers a variety of financial services to help you manage your money and achieve your goals. One such financial service is recurring deposits. It enables regular savings with interest accrual. To calculate the interest on Kotak RD, you can utilise Kotak RD Calculator. This calculator is like your friendly financial guide – it helps you figure out how much your Recurring Deposit (RD) investment could grow over time.
Enter the amount that you want to put in regularly and for how long, and it tells you how much you might end up with. It’s like peeking into the future of your savings! So, if you’re thinking about saving up, Kotak Mahindra Bank RD Calculator has your back!
What is Kotak Bank RD Calculator?
The Kotak RD Calculator by smallcase is a handy tool that acts like a virtual assistant for your savings plan. It’s like a virtual assistant for your savings plan. A recurring deposit helps you to save at intervals and earn a fixed rate on the growing principal.
Additionally, to invest in Kotak RD calculator, you have the option to pick from periods spanning 12 months to 120 months. The smallest deposit you can make for an RD investment with Kotak Mahindra Bank is either in multiples of Rs. 5,000 or Rs. 10,000. Therefore, individuals aiming to build funds for future needs through monthly deposits can open Kotak Bank’s RD schemes. You can also check out the smallcase Kotak SIP calculator here.
How to Use the smallcase Kotak Bank RD Calculator Online?
Wondering how much your savings can grow with a Kotak Bank RD? Well, you’re in luck because the Kotak RD calculator is here to help you out! It’s like a virtual money buddy that can give you a sneak peek into the future of your savings with Kotak interest rates. Wondering how it works and how to use it online? No worries, we’ve got you covered.
Let’s understand how smallcase Kotak RD interest rates calculator works.
Step-1:
Open the Kotak RD calculator on smallcase.
Step-2:
Enter the monthly investment amount in the first field by adjusting the sliding bar or manually entering the amount.
Step-3:
Enter the number of years
Step-4:
Provide the Kotak RD interest rates. Once the information is filled, the Kotak Mahindra Bank RD calculator will display the results within seconds.
Kotak RD Interest Rate Formula to Calculate the Maturity Amount
Unlocking the potential of your savings with Kotak Mahindra Bank RD interest rate gets even more exciting when you understand the Kotak RD Interest Rates Formula. This formula helps you figure out the final amount you’ll have when your RD matures. No worries, you don’t need to be a math whiz – that’s what the Kotak RD Calculator is for!
The Kotak RD calculator formula is as follows:
M = R x [(1 + n) x n – 1] / 1- (1 + i) (-1/3)
The variables in this Kotak RD calculator equation represent the following:
| M | Maturity amount |
| R | Monthly investment |
| N | Number of times interest is compounded |
| i | Interest rate divided by 400 |
Let’s take an example. Suppose an investor decides to make a Kotak Bank recurring deposit (Kotak RD) of Rs. 500 per month for 2 years i.e 24 months. The Kotak RD interest rate is 7% (general citizen rate for 24 months) accrued so far. Since manually entering the values and going through the math to find the Kotak RD maturity value can be an extremely tedious process. So, use smallcase Kotak Bank RD calculator.
After entering the above mentioned values in the Kotak RD calculator, you will get the following results using the Kotak RD interest rates for 2 years in minutes:
Amount invested = Rs. 12,000
Expected return rate amount = Rs. 12,912
Interest Earned = Rs. 912
Kotak Bank Documents and Eligibility for RD Account
To open a Kotak RD account in Kotak Mahindra Bank, you’ll need to provide a few essential documents and meet specific eligibility criteria. Here’s what you’ll typically need:
- Account Application Form
- Recent Passport-size Photo
- KYC Documentation
- For Individuals and Companies: PAN Card, Voter’s ID, Aadhar Card, Passport Copy, Driver’s License
- HUFs: HUF Declaration Deed, Self-attested PAN Card, HUF Bank Statement
- Partnership Firms: Certificate of Incorporation, Partnership Deed, Partner’s ID Proof.
To invest in a Kotak Bank Recurring Deposit, eligibility criteria are as follows:
- Resident Individuals
- Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs)
- Organizations
- Sole Proprietorship Firms
- HUFs
- Trusts and Companies
- Partnership Firms
- Public and Private Limited Companies.
Kotak Mahindra Bank RD Interest Rate
When it comes to maximising your savings through a Recurring Deposit (RD) with Kotak Bank, they offer distinct interest rates for senior citizens and general citizens. Therefore, to explore and compare the Kotak Bank RD interest rates offered for different tenure options, you can make use of the Kotak recurring deposit calculator.
The following table illustrates various Kotak RD interest rates, providing a clearer perspective.
| Tenure | Kotak RD Interest Rates (% p.a.) | |
| Interest Rate p.a. ( %) | Senior Citizen Rates p.a. ( %) | |
| 6 Months | 4.40% | 4.90% |
| 9 Months | 4.40% | 4.90% |
| 12 Months | 4.90% | 5.40% |
| 15 Months | 5.10% | 5.60% |
| 18 Months | 5.10% | 5.60% |
| 21 Months | 5.10% | 5.60% |
| 24 Months | 5.20% | 5.70% |
| 27 Months | 5.20% | 5.70% |
| 30 Months | 5.20% | 5.70% |
| 33 Months | 5.20% | 5.70% |
| 3 years – less than 4 years | 5.40% | 5.90% |
| 4 years – less than 5 years | 5.40% | 5.90% |
| 5 years – 10 years | 5.50% | 6.00% |
Advantages of Using the smallcase Kotak Bank RD Calculator
Kotak Bank RD Calculator is a useful tool that can help you make informed decisions about your RD investment. Now, let’s have a look at its advantages:
- Simple & Easy to Use: The Kotak RD calculator offers a straightforward interface, requiring minimal input to gauge potential returns.
- Saves Time: It swiftly calculates potential returns and interest earnings, streamlining intricate computations.
- Accurate Results in Seconds: The Kotak Bank RD calculator ensures precise results while eliminating the possibility of errors.
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Frequently Asked Questions
What is the RD rate at Kotak Bank?
The RD interest rates at Kotak Mahindra Bank varies depending on the tenure. Here is a breakdown of the Kotak RD rates offered:
| Tenure | Kotak RD Interest Rates (% p.a.) | |
| Interest Rate p.a. ( %) | Senior Citizen Rates p.a. ( %) | |
| 6 Months | 4.40% | 4.90% |
| 9 Months | 4.40% | 4.90% |
| 12 Months | 4.90% | 5.40% |
| 15 Months | 5.10% | 5.60% |
| 18 Months | 5.10% | 5.60% |
| 21 Months | 5.10% | 5.60% |
| 24 Months | 5.20% | 5.70% |
| 27 Months | 5.20% | 5.70% |
| 30 Months | 5.20% | 5.70% |
| 33 Months | 5.20% | 5.70% |
| 3 years – less than 4 years | 5.40% | 5.90% |
| 4 years – less than 5 years | 5.40% | 5.90% |
| 5 years – 10 years | 5.50% | 6.00% |
How is RD maturity calculated in Kotak Bank
The maturity amount of a recurring deposit (RD) in Kotak Bank is calculated using the following formula: A = P(1 + r/n)^nt
Do Kotak Bank RDs come with nomination benefits?
Yes, Kotak Bank RDs come with nomination benefits. You can nominate one or more people to receive the proceeds of your RD account in the event of your death. The nominee can be a relative, friend, or anyone else you trust.
Does Kotak Bank provide loans against RD?
Yes, Kotak Bank provides loans against RD. It is called a Loan Against Securities. Under this loan, you can avail a loan against your recurring deposit (RD), fixed deposit (FD), shares, mutual funds, insurance policies, and bonds.
How are RDs taxed?
Recurring deposits (RDs) are taxable in India. The TDS rate is 10% if the interest income exceeds Rs. 40,000 in a financial year & ₹50,000 for senior citizens).
How to use the RD calculator online?
Follow the below-mentioned steps to know Kotak RD interest rates on your investments in minutes with Kotak RD calculator:
Step-1:
Open the Kotak RD calculator
Step-2:
Enter the desired amount that you wish to invest every month.
Step-3:
Enter the RD interest rate in Kotak Mahindra RD Calculator by sliding the bar or typing in manually.
Step-4:
Input the time period (in years or months)
Can I withdraw RD at anytime?
Yes, you can withdraw your Recurring Deposit (RD) in Kotak Mahindra Bank at any time before maturity. However, there will be a penalty for premature withdrawal. The penalty is 0.5% of the interest earned on the amount withdrawn.
Are senior citizens eligible for any extra benefits on Kotak Mahindra Bank RDs?
Yes, senior citizens can et an extra 0.50% p.a. rate of interest over and above the interest payable to regular customers among many other monetary benefits offered by Kotak Bank.
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