Kotak Tax Saving FD Interest Rates 2025 - Book FD Online

Founded in 1985, Kotak Mahindra Bank is one of the fastest-growing commercial banks in India. It provides a wide range of finance products and services to customers through its commercial, personal, and corporate banking portfolio. One such widely known product is Kotak tax saving FD, a savings investment plan that provides attractive interest rates to customers along with tax saving opportunities. 

Read along to learn more about this FD scheme, its features, benefits, and other associated details. 

Interest Rates on Kotak Tax Saving FD 2025

The following table mentions the Kotak Bank tax saver FD rates for citizens:

Features of Kotak Tax Saving FD

Here is a table that highlights the main features of Kotak tax saving FD:

How to Open a Kotak Tax Saving FD Online?

Follow the below-mentioned simple steps to open a Kotak tax saving FD online:

• Step 1: Visit the official website of Kotak Mahindra Bank.
• Step 2: Log into your account using the username and password.
• Step 3: Under the ‘Banking’ tab, select ‘Deposits’. 
• Step 4: Select the ‘Open a Fixed Deposit’ button.
• Step 5: Provide the information required.  
• Step 6: Press the ‘Submit’ button. 

You will receive a confirmation message or mail for opening your tax-saving FD with Kotak Mahindra Bank.

Kotak Tax Saving FD Scheme Eligibility

To avail the Kotak Mahindra Bank tax saver FD interest rates, you need to meet the following eligibility criteria:

• Indian citizens
• NRIs (non-resident Indians)
• Senior citizens
• Members of Hindu Undivided Family (HUF)
• Minors along with their parents

Documents Required to Open a Kotak Tax Saving FD Scheme

Here are the essential documents you are required to open a Kotak tax saving FD scheme:

• Address Proof - Bank Statement, Aadhaar Card, Utility Bills, Passbook, etc.
• Identity AND Signature Proof -  PAN Card, Driving Licence, Passport, etc.
• Four recent passport-size photographs

Benefits of Kotak Tax Saving FD Scheme

The following highlights the key benefits of Kotak tax saving FD:

• You can create this FD with a minimum deposit of just ₹100.
• Under Section 80C of the Income Tax Act, 1961, you are eligible to claim a deduction of around ₹1.5 lakhs.
• You get triple safety benefits by investing in this type of FD scheme.
• Senior citizens enjoy a higher interest rate on these deposits.

Terms and Conditions of Kotak Tax Saving Scheme

Here is a list of terms and conditions of Kotak tax saver FD: 

• These tax-saving fixed deposits have a mandatory lock-in period of 5 years.
• You can invest in these deposits through public and private sector banks.
• Joint holders are allowed, but only the primary holder gets the tax benefit.
• The interest earned is taxable based on the investor's tax bracket, and TDS is applicable. However, submitting Form 15G (or Form 15H for senior citizens) can help avoid TDS.
• Interest is paid quarterly for reinvestment purposes.

Final Word

In conclusion, Kotak tax saving FD is a smart choice for saving on taxes. With its fixed returns and tax benefits, it provides a simple and reliable way to grow your money while enjoying tax advantages. You can consider it as an ideal option to meet both your financial goals and save on taxes effortlessly.