The Kerala Government on January 3 (Wednesday) decided to hike the interest rates for deposits in the Kerala Bank and primary cooperative societies in the State.
On deposits of terms up to one year, the interest rate will go up by 0.50% and on those above one year by 0.75%, Minister for Cooperation V.N. Vasavan said after a meeting of top functionaries in the State’s cooperative sector.
The new rates will come into effect from January 10, 2024 coinciding with a deposit mobilisation drive lasting from January 10 to February 10. The rates were last revised in February 2023.
