Following the modification, the bank offers interest rates on deposits with tenors ranging from 7 days to 10 years that vary from 4.50 per cent to 7.30 per cent for the general public.
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New Delhi: Private sector lender Karnataka Bank has revised its interest rates on fixed deposits of less than Rs 2 crore. The bank is currently providing interest rates on deposits with tenors ranging from 7 days to 10 years.
The revised interest rates are effective from April 10, 2023, according to the Karnataka Bank’s official website.
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Following the modification, the bank offers interest rates on deposits with tenors ranging from 7 days to 10 years that vary from 4.50 per cent to 7.30 per cent for the general public. Also, the bank revises the interest rates on Minor Deposit Scheme.
| Tenure | Interest Rate For Deposits Below Rs 2 Cr | Interest Rate For Deposits Of Rs 2 crore and up to Rs 10 crore |
| 7 days to 45 days | 4.5 | 5 |
| 46 days to 90 days | 4.5 | 5 |
| 91 days to 364 days | 5.25 | 5.25 |
| 1 year to 2 years | 7 | 7 |
| 375 days (KBL Centenary Deposit) | 7.3 | 7.3 |
| Above 2 Year to 5 years | 6.5 | 6.5 |
| Above 5 year to 10 years | 5.8 | 5.8 |
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For resident senior citizens solely under domestic FD and ACC Schemes, an additional 0.40 per cent 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 per cent over the general rate for terms of 5 to 10 years.
