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Business News/ Money / Personal Finance/  Karur Vysya Bank revises FD rates, now offers up to 7.65% on a tenor of 555 days
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Karur Vysya Bank revises FD rates, now offers up to 7.65% on a tenor of 555 days

The private sector lender Karur Vysya Bank has revised interest rates on fixed deposits of less than ₹2 Cr.

On deposits maturing in one to 10 years, Karur Vysya Bank offers senior customers a 50 basis point higher interest rate than the standard rate. (iStock)Premium
On deposits maturing in one to 10 years, Karur Vysya Bank offers senior customers a 50 basis point higher interest rate than the standard rate. (iStock)

The private sector lender Karur Vysya Bank has revised interest rates on fixed deposits of less than 2 Cr. As per the official website of the lender, the new rates are effective as of today 10.11.2022. Following the modification, the bank is now offering an interest rate ranging from 4.00% to 6.25% on FDs maturing in 7 days to above 6 years. Deposits maturing in 555 Days shall now pay a maximum interest rate of 7.25% for the general public and 7.65% for senior citizens at Karur Vysya Bank (KVB).

Karur Vysya Bank FD Rates

The bank will now give a 4.00% interest rate on fixed deposits maturing in 7 days to 30 days, and a 5.25% interest rate on those maturing in 31 days to 120 days, according to Karur Vysya Bank. Deposits that mature in 121 days to 180 days will now pay 5.50% interest, while those that mature in 181 days to less than a year will now earn 6.00% interest. On FDs maturing in 1 Year to 554 Days, Karur Vysya Bank will now give an interest rate of 6.50%, and on those maturing in 555 Days, the bank will now guarantee an interest rate of 7.25%.

On FDs maturing in 556 Days upto 2 years, the bank is offering an interest rate of 6.50% and on those maturing in Above 2 years upto 3 years, Karur Vysya Bank will now offer an interest rate of 7.00%. The bank is currently giving an interest rate of 5.90% on KVB-Tax Shield Deposits and an interest rate of 6.25% on deposits maturing in the next 3 to 6 years or longer.

Karur Vysya Bank FD Rates
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Karur Vysya Bank FD Rates (kvb.co.in)

Karur Vysya Bank FD Rates For Senior Citizens

On deposits maturing in one to 10 years, Karur Vysya Bank offers senior customers a 50 basis point higher interest rate than the standard rate. The maximum limit for making senior citizen deposits is Rs. 3 crores, and NRIs are not eligible for senior citizen rates. On deposits maturing in 555 days, senior citizens will now get a maximum interest rate of 7.65%. “Rates of Interest on domestic deposits w.e.f. 10.11.2022," Karur Vysya Bank has mentioned on its website.

Karur Vysya Bank FD Rates For Senior Citizens
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Karur Vysya Bank FD Rates For Senior Citizens (kvb.co.in)

Furthermore, FD interest rates have increased by up to 75 basis points (bps) at the Central Bank of India, up to 60 bps at Indian Overseas Bank, up to 15 bps at Kotak Mahindra Bank, and up to 35 bps at HDFC Bank.

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ABOUT THE AUTHOR
Vipul Das
Vipul Das is a Digital Business Content Producer at Livemint. He previously worked for Goodreturns.in (OneIndia News) and has over 5 years of expertise in the finance and business sector. Stocks, mutual funds, personal finance, tax, and banking are among his specialties, and he is a professional in industry research and business reporting. He received his bachelor's degree from Dr. CV Raman University and also have completed Diploma in Journalism and Mass Communication (DJMC).
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Published: 10 Nov 2022, 03:37 PM IST
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