Karnataka Bank FD Rates
On fixed deposits maturing in 7 days to 45 days, the bank is now offering an interest rate of 3.40% and on term deposits maturing in 46 days to 90 days the bank is now offering an interest rate of 4.90%. Fixed deposits maturing in 91 days to 364 days will now offer an interest rate of 5.00% and term deposits maturing in 1 year to 2 years will now offer an interest rate of 5.50%. Karnataka Bank will now offer an interest rate of 5.65% on term deposits maturing in above 2 years to 5 years and 5.70% on fixed deposits maturing in above 5 year to 10 years.
For the benefit of senior citizens, Karnataka Bank has mentioned on its website that “0.40% extra over the general rate upto & inclusive of 5 crore only under Domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only for tenure 1 to 5 years and 0.50% extra over the general rate for tenure 5 to 10 years."
Senior citizens will get an interest rate of 5.90% on deposits maturing in one to two years, and a rate of 6.05% on deposits maturing in two to five years. Senior citizens would receive the highest interest rate of 6.20 percent on deposits maturing in above 5 year to 10 years. Interest rates for special deposit schemes, like KBL - Tax Planner, will be 5.65 percent for the general public and 6.05 percent for older adults. KBL - Tax Planner is a tax-saving fixed deposit product offered by Karnataka Bank. It offers tax benefits under section 80C of up to Rs. 1.5 lakh but is only effective with a 5-year lock-in term, therefore premature withdrawals are not permitted.
