Independence Day: Karnataka Bank increases term deposit with 6.10% rate
The new scheme will be called KBL Amrit Samriddhi under ACC and Fixed Deposit category.
The bank is offering a 6.10% per annum interest rate on the deposit scheme with a tenure of 75 weeks (525 days).
The new scheme will be called KBL Amrit Samriddhi under ACC and Fixed Deposit category.
Currently, the bank offers a 5.50% interest rate on fixed deposits below ₹2 crore to the general public, while the rate is 5.65% for tenure above 2 years to 5 years,
The rate is 5.70% on maturity period for above 5 years and up to 10 years.
Meanwhile, the bank offers a 5.90% rate to senior citizens on deposits below ₹2 crore for a tenure of 1 year to 2 Years, while the rate is 6.05% and 6.20% on maturity period above 2 years to 5 years and above 5 years up to 10 years.
The rates are similar on FDs between ₹2 crore to ₹5 crore for senior citizens.
0.40% extra over the general rate upto & inclusive of 5 crore only under Domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only for tenure 1 to 5 years
0.50% extra over the general rate for tenure 5 to 10 years w.e.f. 09.11.2020. Senior Citizen interest rate benefit for term deposits below 1 year is withdrawn