Karur Vysya Bank Hikes Interest Rates On Fixed Deposits: Check New Rates Here

Karur Vysya Bank, a private sector lender, has hiked its interest rates on fixed deposits of less than Rs 2 crore. According to the bank's official website, the most recent interest rate change took place today, on February 18, 2022. Previously, the bank offered a 3.25 percent interest rate on deposits maturing in 46 to 90 days (as of 12.01.2022), but now it will give a 3.50 percent interest rate, a 25 basis point increase.

The bank has also raised the interest rate on deposits maturing in 91 days to 120 days from 3.50 percent to 3.75 percent. The bank has raised its interest rate on deposits maturing in 121 days to 180 days from 3.75 percent to 4.00 percent. Karur Vysya Bank has upped the interest rate on deposits maturing in 181 days to 270 days from 4% to 4.50 percent, a 50 basis point rise.

The bank has raised the interest rate on deposits maturing in 271 days to less than a year from 4.25 percent to 4.50 percent. The bank has lifted the interest rate on term deposits maturing in one year to less than two years from 5.15 percent to 5.40 percent. Karur Vysya Bank has increased the interest rate on deposits maturing in two years or less than three years from 5.25 percent to 5.50 percent.

The bank has also raised the interest rate on deposits maturing in three years or less than five years from 5.40 percent to 5.65 percent. The bank formerly offered a 5.60 percent interest rate on long-term deposits of five years and above, but the rate will now be 5.80 percent.

Karur Vysya Bank Fixed Deposit Interest Rates For Regular Customers

The bank is currently providing the following interest rates to the general public on domestic term deposits of less than Rs 2 crore maturing in 7 days to 5 years and above.

Tenure	Revised Rate (Less than Rs. 2 Crores) (w.e.f. 12.01.2022)	Revised Rate (Less than Rs. 2 Crores) (w.e.f. 18.02.2022)
7 Days to 14 days	3.25%	3.25%
15 Days to 30 days	3.25%	3.25%
31 Days to 45 days	3.25%	3.25%
46 Days to 90 days	3.25%	3.50%
91 Days to 120 Days	3.50%	3.75%
121 Days to 180 Days	3.75%	4.00%
181 Days to 270 days	4.00%	4.50%
271 Days to less than 1 year	4.25%	4.50%
1 year to less than 2 years	5.15%	5.40%
2 years to less than 3 years	5.25%	5.50%
3 years to less than 5 years	5.40%	5.65%
5 years and above	5.60%	5.80%
KVB - Tax Shield	5.75%	5.90%
Source: Bank Website

Karur Vysya Bank Fixed Deposit Interest Rates For Senior Citizens

The bank used to give a 5.65 percent interest rate on deposits maturing in one year to less than two years (w.e.f. 12.01.2022), but now it will be 5.90 percent (w.e.f. 18.02.2022). The bank has increased the interest rate on domestic term deposits maturing in two years to less than three years from 5.75 percent to 6.00 percent. Karur Vysya Bank has raised the interest rate for elderly persons on term deposits maturing in 3 to 5 years from 5.90 percent to 6.15 percent. For senior citizens, the bank has increased the interest rate on 5-year tax-saving deposits (KVB - Tax Shield Deposits) from 5.75 percent to 5.90 percent.

Tenure	Revised Rate (Less than Rs. 2 Crores) (w.e.f. 12.01.2022)	Revised Rate (w.e.f. 18.02.2022) For Senior Citizens
1 year to less than 2 years	5.65%	5.90%
2 years to less than 3 years	5.75%	6.00%
3 years to 5 years	5.90%	6.15%
KVB - Tax Shield Deposits	5.75%	5.90%
Source: Bank Website

Karur Vysya Bank NRE Deposit Interest Rates

The bank has also altered interest rates on Non-Resident External (NRE) deposits, which will apply exclusively to new deposits and renewals. On NRE deposits, the bank is giving the interest rates indicated below, which are effective as of 18.02.2022.

Time Bucket	Revised Rate (w.e.f. 18.02.2022)
1 year to less than 2 years	5.40%
2 years to less than 3 years	5.50%
3 years to less than 5 years	5.65%
5 years and above	5.80%
Source: Bank Website