Karur Vysya Bank, a private sector lender, has increased its fixed deposit rates below 2 crore. The new interest rate takes effect from September 1, 2022, according to the bank’s official website. After the adjustment, the bank increased the interest rate on fixed deposits with terms from 31 days to 6 years or more.
Bank Karur Vysya Rate FD
The bank will continue to apply an interest rate of 4.00% for fixed deposits with terms from 7 days to 30 days, but has increased the interest rate from 4% to 5.25% for fixed deposits term from 31 days to 45 days. For fixed deposits with terms from 46 to 90 days, Karur Vysya Bank increased the interest rate from 4.25% to 5.25%. Fixed deposits with a term between 91 and 120 days will now enjoy an interest rate of 5.25% (previously 4.5%), while deposits with a term of 121 to 180 days will now earn interest rate is 5.50% (previously 4.5%).
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For fixed deposits maturing in 181 days to 270 days, Karur Vysya Bank will now offer an interest rate of 5.75%, up from 5%, while for fixed deposits maturing in 271 days to less than a year, the bank will now guarantee the interest. rate 5.90%, up from 5.25%. Fixed deposits with a term of one to two years will now enjoy an interest rate of 6.10%, up from the previous rate of 5.75%, while deposits with a term of two years to three years are now available interest rate was 6.10%, up from the previous rate of 5.85%. The bank increased the interest rate on fixed deposits with terms from 3 to 6 years or more from 6% to 6.10%.
The bank will continue to offer an interest rate of 5.90% on KVB – Tax Shield, a tax-saving fixed deposit scheme for 5 years.
Karur Vysya Bank FD rate for the elderly
The bank will now offer seniors an interest rate of 6.50% on fixed deposits with terms from one year to less than two years, up from 6.25% previously. For deposits with terms from 2 years to less than 3 years, the bank is currently paying an interest rate for the elderly at 6.50%, up from 6.35% previously. Fixed deposits with a term from 3 years to less than 5 years will enjoy an interest rate of 6.60%, up from 6.50% for the elderly, while deposits with a term of 5 years to 10 years currently has an interest rate of 6.60%. , up from 6.50% for the elderly. For KVB – Tax Shield Deposit, seniors will continue to receive an interest rate of 5.90%.
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