Maturity: ₹26,823 at 7.1% p.a. Interest earned: ₹1,823. Senior citizen maturity: ₹26,955.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹25K Fixed Deposit in Kotak Mahindra Bank for 1 Year at 7.1% p.a. (quarterly compounding) will mature to ₹26,823. You earn ₹1,823 as interest, giving a total return of 7.3% on your investment.
At 7.1% p.a. (quarterly compounding), ₹25K FD in Kotak Mahindra Bank for 1 Year matures to ₹26,823. Interest earned: ₹1,823. Senior citizen maturity: ₹26,955 at 7.6%.
Kotak Mahindra Bank offers 7.1% p.a. for general citizens and 7.6% p.a. for senior citizens on 1 Year Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹25K at 7.1% for 1 Year, you would earn approximately ₹1,823 as interest, making total maturity ₹26,823. Senior citizens earn ₹1,955 at 7.6%.
Yes, premature withdrawal is allowed. Kotak Mahindra Bank's policy: 1% penalty on applicable rate. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. Bank FDs offer DICGC insurance up to \u20B95 Lakh. Consider both rate and safety.