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Karur Vysya Bank Alters Interest Rates On Fixed Deposits of Less Than Rs. 2 Cr

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Karur Vysya Bank, a private sector lender, has adjusted its interest rates on Resident / NRO Deposits of less than Rs. 2 Cr. The new and amended domestic deposit interest rates go into effect today, 12.01.2022. In this article, we'll take a look at the bank's updated interest rates on domestic term deposits.

 
Karur Vysya Bank Alters Interest Rates On Fixed Deposits of Less Than Rs. 2 Cr

Karur Vysya Bank Interest Rates On Domestic Term Deposits (Non-senior Citizens)

Karur Vysya Bank is providing a 3.25 percent interest rate on domestic term deposits maturing in 7 days to 90 days as of January 12, 2022. Fixed deposits maturing in 91 to 120 days and 121 to 180 days will now offer 3.50 percent and 3.75 percent interest to the general public, respectively. Non-senior citizens will now get a 4.00 percent and 4.25 percent interest rate on term deposits maturing in 181 days to 270 days and 271 days to less than one year. On domestic term deposits maturing in 1 year to less than 2 years, 2 years to less than 3 years, 3 years to less than 5 years, and 5 years and above, Karur Vysya Bank is now providing interest rates of 5.15 percent, 5.25 percent, 5.40 percent, and 5.60 percent respectively. The new rates on tax-saving fixed deposits, known as KVB - Tax Shield will be 5.75 percent for the general public.

TenureRevised Rate (Less than Rs. 2 Crores) (w.e.f. 12.01.2022)
7 Days to 14 days3.25%
15 Days to 30 days3.25%
31 Days to 45 days3.25%
46 Days to 90 days3.25%
91 Days to 120 Days3.50%
121 Days to 180 Days3.75%
181 Days to 270 days4.00%
271 Days to less than 1 year4.25%
1 year to less than 2 years5.15%
2 years to less than 3 years5.25%
3 years to less than 5 years5.40%
5 years and above5.60%
KVB - Tax Shield5.75%
Source: Bank Website

Karur Vysya Bank Interest Rates On Domestic Term Deposits For Senior Citizens

Senior citizens will continue to get an additional rate of 0.50% on their domestic term deposits maturing in 1 year to 5 years. Whereas on KVB - Tax Shield scheme, the new rates for senior citizens would be 5.75%.

 
TenureRevised Rate (Less than Rs. 2 Crores) (w.e.f. 12.01.2022)
1 year to less than 2 years5.65%
2 years to less than 3 years5.75%
3 years to 5 years5.90%
KVB - Tax Shield Deposits5.75%
Source: Bank Website

Story first published: Wednesday, January 12, 2022, 12:38 [IST]
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