Large private sector lender Tamilnad Mercantile Bank (TMB) hiked interest rates on fixed deposits (FDs) of less than Rs 2 crore. After this increase in interest rates, the bank will give 5.25% to 6.50% interest on FDs of 7 days to 10 years to its general customers. The same bank will give 5.25% to 7% interest to its senior citizen customers on FDs of the same time period. On the other hand, the bank will give a maximum interest of 7% to general customers and a maximum of 7.50% to senior citizen customers on FDs of 1 year to 2 years. The increased new interest rates of the bank will be applicable from January 2.

7% interest will be available on FD of this time period
After this increase in the interest rate, the bank will pay 5.25% on FDs of 7 days to 120 days, 6% on FDs of 121 days to less than 1 year, 6.75% on FDs of 1 year and more than 1 year and less than 2 years. Will give 7% interest on FD. At the same time, the bank will give 6.75% interest on FDs of 2 to 3 years and 6.50% on FDs of 3 years to 10 years.

Here are the latest FD rates of Karnataka Bank
After this increase in interest rates, the bank will give an additional 0.50% interest to its senior citizen customers on FDs of 1 year to 10 years. On the other hand, today 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.