Kotak launches ActivMoney feature – Earn FD interest on Savings

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Last Comment 2023-06-16

dealstaar

2023-06-16

Is this same as already existing sweep in/out facility feature of other banks?

Any benefit here?

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https://www.desidime.com/discussions/kotak-launches-activmoney-feature-earn-fd-interest-on-savings?page=1#post_9343783

IVI

2023-06-16

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Minimum FD tenure is 180 days, say if you touch the FD within 180 days. You get 0 interest rate, compared to Saving account where you generate Interest every day.

Not much of benefit for liquidity.

https://www.desidime.com/discussions/kotak-launches-activmoney-feature-earn-fd-interest-on-savings?page=1#post_9343806

dealstaar

2023-06-16

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IVI wrote:
Minimum FD tenure is 180 days, say if you touch the FD within 180 days. You get 0 interest rate, compared to Saving account where you generate Interest every day.

Not much of benefit for liquidity.

Which means it that FD is closed, i don't even earn the minimum 3.5% also?