Karnataka Bank hikes term deposit interest rates
The Hindu
The revised interest rates are effective from September 29, 2022
Karnataka Bank hiked the interest rate on term deposits for amounts up to ₹10 crore across various maturity periods.
For deposits below ₹2 crore invested for seven days to 90 days, the bank will now offer 5.25% rate of interest. For the same period, on deposits between ₹2 crore and ₹10 crore, the revised rate of interest will be 5.60%.
For a maturity period of one to two years, interest rate on deposits below ₹2 crore has been increased to 6.40%. The revised rate for deposits ranging from ₹2 crore to ₹10 crore for the same period will be 6.50%.
The revised interest rates are effective from September 29, 2022.
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