PremiumKarnataka Bank, a private sector lender, revised its fixed deposit interest rates on May 21, 2022. Following the recent modification, the bank has increased the interest rate on domestic term deposits of less than ₹2 crore maturing in one year to two years.
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Karnataka Bank, a private sector lender, revised its fixed deposit interest rates on May 21, 2022. Following the recent modification, the bank has increased the interest rate on domestic term deposits of less than ₹2 crore maturing in one year to two years. Previously, the bank offered an interest rate of 5.1 per cent, but it has been raised by 15 basis points to 5.25 per cent on deposits of one to two years. The bank has left the interest rate on the remaining tenors constant.
The bank will pay an interest rate of 3.40 per cent on domestic term deposits for 7 to 45 days. Karnataka Bank will continue to give a 4.90 per cent interest rate on deposits due in 46 to 90 days. Karnataka Bank will now provide a 5.00 per cent interest rate on deposits maturing in 91 days to 364 days, and a 5.25 per cent interest rate on deposits maturing in 1 year to 2 years. Deposits of more than two years to five years and more than five years to ten years will now return 5.40 per cent and 5.50 per cent, respectively.
7 days to 45 days- 3.4
46 days to 90 days- 4.9
91 days to 364 days- 5
1 year to 2 Years- 5.25
Above 2 Years to 5 years- 5.4
Above 5 years to 10 years- 5.5
Karnataka Bank would give 0.40 per cent more than the standard rate under Domestic FD for resident senior citizens for maturity duration of 1 to 5 years and 0.50 per cent more than the general rate for a tenure of 5 to 10 years.
1 year to 2 Years- 5.65
Above 2 Years to 5 years- 5.8
Above 5 Years to 10 years- 6
Source: Bank Website
