Savings Calculators
Kotak RD Calculator
Kotak Mahindra Bank offers recurring deposits that let you save a fixed amount each month and earn a guaranteed return at rates aligned with its fixed-deposit card. Kotak RDs run from 6 months to 10 years, and deposits are insured by the Deposit Insurance and Credit Guarantee Corporation (DICGC) up to ₹5 lakh per depositor. Use this Kotak RD calculator to estimate your maturity value and interest earned — enter your monthly deposit, an indicative interest rate and tenure to see your returns with quarterly compounding.
- Invested
- ₹3,00,000
- Interest Earned
- ₹59,664
Maturity Value
₹3,59,664
- Invested83%
- Interest Earned17%
Formula
M = R × [((1 + i)ⁿ − 1) ÷ i] × (1 + i), where i = (1 + r/4)^(1/3) − 1
- R
- Fixed monthly deposit paid into the Kotak RD.
- i
- Effective monthly rate derived from the quarterly rate r/4.
- n
- Total number of monthly deposits (years × 12).
Kotak Mahindra Bank takes a monthly deposit but compounds interest quarterly, so the quarterly rate is converted to an equivalent monthly rate. The rate shown is indicative — confirm the live RD rate on Kotak's website, as it tracks the FD card and varies by tenure. The figure is gross of TDS.
Worked example
Suppose you deposit ₹5,000 every month into a Kotak Mahindra recurring deposit at an indicative rate of 7.00% per annum for 5 years (60 deposits), with quarterly compounding.
- Monthly Deposit (R)
- ₹5,000
- Interest Rate (p.a.)
- 7.00% (indicative)
- Tenure
- 5 years (60 months)
You deposit ₹3,00,000 in total. The Kotak RD matures to about ₹3,59,664 — meaning roughly ₹59,664 of interest on top of your deposits. Earlier deposits compound for longer, so they add the most interest.
Year-by-year growth
Based on the default Kotak RD Calculator values above. The final year matches the maturity value shown by the calculator — change the inputs to project your own plan.
- Total invested
- ₹3,00,000
- Interest earned
- ₹59,664
- Maturity value
- ₹3,59,664
- Value / invested
- 1.20×
Over 5 years, your ₹3,00,000 grows to about ₹3,59,664 — roughly 1.20× what you put in, thanks to compounding.
| Year | Invested | Interest earned | Maturity value |
|---|---|---|---|
| 1 | ₹60,000 | ₹2,311 | ₹62,311 |
| 2 | ₹1,20,000 | ₹9,099 | ₹1.29 Lakh |
| 3 | ₹1,80,000 | ₹20,686 | ₹2.01 Lakh |
| 4 | ₹2,40,000 | ₹37,418 | ₹2.77 Lakh |
| 5 | ₹3,00,000 | ₹59,664 | ₹3.60 Lakh |
How this Kotak RD calculator works
Adjust the monthly deposit, interest rate and tenure sliders to see your Kotak RD maturity value and interest earned update instantly, with a breakdown of deposits versus interest. The rate is pre-set to an illustrative 7.00% — change it to the rate Kotak quotes for your tenure. The calculator converts the quarterly rate to an effective monthly rate, so each deposit earns the right interest for the months it remains invested.
Why a Kotak recurring deposit
A Kotak RD is well suited to savers who want guaranteed, FD-grade returns but prefer to build the corpus through monthly instalments rather than a lumpsum. The rate is fixed at booking, the maturity value is known in advance, and DICGC cover protects up to ₹5 lakh. For money you already hold, a Kotak FD may suit better; for long-horizon goals, compare against a market-linked SIP.
Tips for Kotak RD savers
- Pick an instalment you can sustain for the full tenure to avoid default penalties.
- Enable auto-debit through Kotak NetBanking or the mobile app so deposits are never missed.
- Match the tenure to your goal so the RD matures exactly when you need the money.
- Use the senior-citizen rate if eligible to raise the maturity value.
- Account for TDS on the interest when setting your target corpus.
faq
Frequently asked questions.
What is the minimum Kotak RD amount and tenure?
Kotak Mahindra Bank recurring deposits start from ₹100 per month and run for tenures from 6 months up to 10 years. The instalment is fixed for the tenure you choose. Use the sliders to see how the amount and tenure change your maturity value.
Are Kotak RD rates the same as its FD rates?
Kotak generally aligns recurring-deposit rates with its fixed-deposit card for the matching tenure, and senior citizens usually receive an additional rate. Confirm the current rate for your tenure on the bank's website before booking.
What happens if I miss a Kotak RD instalment?
A missed deposit attracts a small penalty per defaulted instalment, and repeated defaults can lead to premature closure of the account. Automating the debit from your Kotak savings account keeps the RD on track.
Is Kotak RD interest taxable?
Yes. RD interest is taxable as income, and Kotak deducts TDS at 10% once your total deposit interest crosses the annual threshold. The maturity value shown is before tax; submit Form 15G/15H if your income is below the exemption limit.
Can I close a Kotak RD early?
Yes. Premature closure is allowed, but interest is then paid at the rate applicable for the period the deposit actually ran, less a penalty, so the effective return is lower than the booked rate. A loan against the RD can cover a temporary need instead.