Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Hindu
The Hindu
National
The Hindu Bureau

Karnataka Bank hikes term deposit interest rates

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.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.