How can I stop auto renewal of Fixed Deposit in Kotak Mahindra bank?

You can change maturity instruction of Term / Fixed Deposit by choosing one of these options:

1. On Net Banking. Go to Investment -> Deposits.
2. You can place this request by calling our 24×7 helpline number 1860 266 2666 (Standard call charges applicable).
3. Alternatively, you place this request at our nearest branch as well.

How can I break my FD in Kotak Mahindra bank?

Netbanking

1. You can log in to your netbanking account by entering your userID and password.
2. Once done, click on the option of ‘banking’.
3. Select the option of Deposits.
4. Once done, click on the option of ‘Premature withdrawal of FD’.
5. The amount will then be transferred to the account of your preference.

Can I break recurring deposit?

A Recurring Deposit is like a Fixed Deposit. Once the RD amount has been deposited, it cannot be withdrawn until maturity. Partial withdrawals from the account are not allowed.

Can I change tenure of FD?

Further, you can modify the maturity instruction of your FD even after February 15, 2010 up to a day before the maturity date of your FD. You may also change the tenure of the renewed FD up to 30 days post auto-renewal of your FD.

Can I cancel fixed deposit?

Closing a Fixed Deposit (FD) is a simple process and can be done online as well as by visiting the bank branch. You can close an FD before maturity and after maturity. The process of closing the FD by visiting the branch is same for most of the banks.

Can I close my FD before maturity in Kotak Mahindra Bank?

1) In case of premature closure of Fixed deposit within 7 days from date of it’s booked, no interest shall be paid and only principal amount will be returned. 2) There will be penalty on the interest rate (0.50\%) if it was booked for 181 days and above and withdrawn before maturity.

How many recurring deposit can be opened?

Most people have goals similar to the ones listed above. To achieve these goals, you can open 3 Recurring Deposits (one for each of these), for the exact tenure (10 months, 1 year and 1.5 years).

How can I cancel a fixed deposit?

Steps to Close an FD Offline by Visiting Branch (Premature)

1. Step 1: Visit the bank branch and get a form for premature withdrawal.
2. Step 2: Fill the form with necessary details such as name, bank account details, and FD number among others.
3. Step 3: Submit the document with the bank and they will process your request.