Karnataka Bank has increased the interest rates on fixed deposits (FD) of less than Rs 2 crore. After this increase in interest rates, the bank is paying 5.25% to 5.80% interest on FDs of 7 days to 10 years. At the same time, the bank is paying a maximum interest of 7.30% on FDs of 555 days (KBL Centenary Deposit) to its general customers and 7.70% on FDs of the same time period to its senior citizen customers. According to the information received from the official website of the bank, the increased new interest rates are applicable from today i.e. January 1.
karnataka bank increased fd rates
After this increase in interest rates, Karnataka Bank is paying 5.25% interest on FDs of 7 days to 364 days and 7.30% on FDs of 555 days. On the other hand, the bank is paying 6.10% on FDs of 1 year to 2 years, 5.75% on FDs of 2 years to 5 years and 5.80% on FDs of 5 years to 10 years.
Additional 0.50% interest will be available here
After this increase in interest rates, resident senior citizen customers will get an additional 0.40% interest on domestic FDs of 1 year to 5 years. On the other hand, senior citizen customers of the bank will get an additional 0.50% interest on FDs of 5 years to 10 years time period. Apart from this, today Indian Overseas Bank has also decided to increase the interest rates on FDs of less than Rs 2 crore by 75 basis points.