Karnataka Bank revised its interest rates on fixed deposits of less than ₹2 Cr. After the modification, the bank is currently providing interest rates on deposits with tenors ranging from 7 days to 10 years that range from 4.50% to 5.80%. A maximum interest rate of 7.30% will be paid on deposits that mature in 375 days (the KBL Centenary Deposit). As of April 10, 2023, Karnataka Bank’s most recent FD rates are in effect.
Karnataka Bank FD Rates
The bank is now giving an interest rate of 4.50% on fixed deposits maturing in the next 7 days to 90 days, while Karnataka Bank is now offering an interest rate of 5.25% on deposits maturing in the next 91 days to 364 days. Karnataka Bank is now offering interest rates of 7.00% on deposits held for one to two years and 7.30% on deposits held for 375 days (KBL Centenary Deposit). Deposits maturing between 2 and 5 years from now on will earn interest at a rate of 6.50%, while those maturing between 5 and 10 years from now on will earn interest at a rate of 5.80%.
For resident senior citizens solely under domestic FD and ACC Schemes, an additional 0.40% above the general rate up to and including 5 crore will be in effect for terms of 1 to 5 years, and an additional 0.50% over the general rate for terms of 5 to 10 years.
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The general public will get an interest rate of 6.50% on the 5-year KBL-Tax Planner programme, while senior citizens would receive an interest rate of 6.90%. Only deposits with a 5-year term and deposits under Rs. 1.5 lakh per year are eligible for this programme. With this scheme, premature closure is not permitted.
The bank presently has a nationwide presence with a network of 901 branches distributed over 22 states and 2 Union Territories thanks to its more than 90 years of expertise offering professional banking services and outstanding customer service.
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