Kotak Mahindra Bank
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Penalty of 1% pa will be levied on premature closure of Fixed Deposits ( including sweep-in/partial closures). This is subject to terms & conditions. In the absence of any maturity instruction, the deposit will be renewed for a period equal to that of the original deposit at the prevailing rate on the date of renewal.
Account Opening Rules: All necessary documentation as mandated by the Regulatory/ Bank authorities should be provided for opening the accounts. In event of no salary credits for any continuous three months, the Salary account will get converted to Savings Regular Account. Savings account will be issued only 25 cheque leaves per calendar quarter.
