Karnataka Bank Fixed Deposit Interest Rates April 2020

Karnataka Bank FD Rates: Check Latest updated FD Interest Rates, RD Interest Rates, Single Term Deposit Rates for General, NRI & Senior Citizens Online Updated as on March 2020.

Latest Updated Deposit rates News:

Best FD Rates available for General People are 6.50% on 1 Year to 2 Years deposit Scheme.
Senior Citizens get around 6.90 % Rate of interest on 1 Year to 2 Years deposit Scheme.

Minor Deposit Scheme = Interest Rates of 6.30% for Above 10 years

KBL – Tax Planner = 6.40% for General Public & 6.80% for Senior Citizens

Rates of Interest on Domestic Term Deposits

*Interest rates for deposits General Public ()**
Maturity Pattern	Interest Rate (% p.a) for Deposits below Rs.2 Crore	Interest Rate (% p.a) for Deposits Rs. 2 Crore and upto Rs. 10 Crore
7 days to 45 days	3.50	3.50
46 days to 90 days	5.00	5.00
91 days to 364 days	6.25	6.25
1 year to 2 Years	6.50	6.50
Above 2 Year to 5 years	6.40	6.40
Above 5 year to 10 years	6.30	6.30

Minor Deposit Scheme
7 days to 10 years	As applicable for Domestic Term Deposits
Above 10 years	6.30

Interest rate for Senior Citizens:(FD & ACC Only)

0.40% extra over the general rate upto & inclusive of 3 crore only under Domestic FD and ACC Schemes (Not for deposit under NRE/NRO/FCNR(B) accounts) for resident Senior Citizens only.

Interest Rate (% p.a)

Maturity Pattern	Deposits upto & inclusive of Rs.5 Crore
1 year to 2 Years	6.90
Above 2 Year to 5 years	6.80
Above 5 Year to 10 years	6.70

Premature Closure of both Domestic & NRE Deposits:

For Regular deposit schemes:

The penalty clause for premature closure of deposits on fresh deposits and renewals made is as follows:

(i) Term Deposit of below Rs.1 crore:

No penalty shall be levied for premature closure.(ii) Term Deposit of Rs 1 crore & above:
Penalty of 1% on applicable rate shall be levied for premature closure of single rupee term deposit of Rs 1 crore & above. For the purpose, applicable rate means interest rate applicable for the period the deposit has remained with the Bank or contracted rate, whichever is less.
However, if the deposit is prematurely closed for reinvestment, interest shall be paid at the rate applicable to the period for which the deposit remained with the bank without penalty for the amount reinvested, provided the reinvested deposit remains with the bank for a period longer than the remaining period of original deposit.

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Available Products of Karnataka Bank:

✓ Karnataka Bank Home Loan

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✓ Karnataka Bank Car Loan

✓ Karnataka Bank Fixed Deposit

✓ Karnataka Bank Two Wheeler Loan

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