Dussehra marks the beginning of the festival season, as many more auspicious festivals, like Diwali are to follow. Joining in this happiness and celebrations, Karnataka Bank greets all its customers as well as its prospective customers with a hike in Term Deposit interest rates for amount up to 10 Crore, across various maturity periods.
For below Rs.2.00 Crore deposits invested for 7 days to 90 days, Bank will now offer 5.25%. For the same period, on deposits of Rs.2 Crore to Rs.10 Crore, the revised rate will be 5.60%.
For a maturity period of 1 to 2 years, interest rates on below Rs.2 Crore deposits are increased to 6.40%. The revised rates for Rs.2 Crore to Rs.10 Crore for the same period will be 6.50%.
This revised interest rates will be effective from September 29, 2022.