Karnataka Bank is a renowned private sector banking firm based in Mangalore, Karnataka. The bank has been designated by the Reserve Bank of India as the A1+ scheduled commercial bank. The bank is 100% privately owned by its 1,29,862 shareholders.

With a network of 628 branches across 21 States and 2 Union Territories of India, Karnataka Bank offers all the banking products and services for both Personal Banking and Commercial Banking. The bank offers a variety of different deposit products for normal citizens, senior citizens, and NRIs.

Although being listed in the ‘small bank‘ category, Karnataka Bank offers great interest rates for its Fixed Deposit scheme with guaranteed high returns. Any individual can apply for a Fixed Deposit account at Karnataka Bank and get the benefits of high-interest rates and returns at the time of maturity. Below interest are effective from 28 December 2018.

karnataka-bankHighlights of Karnataka Bank Fixed Deposit Account:

  • Open a Fixed Deposit account for a minimum of 7 days to a maximum of 10 years.
  • Get the highest interest rate of 6.90% for a term of 1 to 2 years.
  • Senior citizens can enjoy a 0.50% additional interest rate as compared to Normal citizens.
  • Get Interest payments made monthly, quarterly, half-yearly or yearly as required by the depositor.

Karnataka Bank Fixed Deposit Interest Rates for domestic deposits February 2019:

 Maturity RangeBelow 1 crore1-10 crore10-100 crore
7 Days to 45 Days3.50%3.50%NA
45 Days to 90 Days5.00%5.00%NA
90 Days to 120 Days6.50%6.50%NA
120 Days to 180 Days6.50%6.50%NA
180 Days to 1 Year6.50%6.50%NA
1 Year to 2 Year7.50%7.50%NA
2 Years to 10 Years7.00% 7.00NA

Karnataka Bank Minor deposit scheme:

7 days to 10 yearssame as domestic Term Deposits
Above 10 years6.50%

Karnataka Bank Interest rates for senior citizens:

 Maturity RangeBelow 5 crore1-10 crore10-100 crore
7 Days to 45 Days4.00%3.90%NA
45 Days to 90 Days5.50%5.40%NA
90 Days to 120 Days7.00%6.90%NA
120 Days to 180 Days7.50%NA
180 Days to 1 Year7.00%6.90%NA
 1 Year to 2 Years8.00%7.90%NA
 2 Years to 10 Years7.50% 7.40% —

Karnataka Bank NRE term deposit interest rates 2019:

 Maturity RangeBelow 1 crore1-10 crore10-100 crore
1 Year to 2 Years7.50%7.50%NA
 2 Year to 10 Years7.00%7.00%NA

Table updated: 19 February 2019

Important notes:

  • No penalty will be charged for premature closure below 1 crore.
  • 1% penalty will be charged for premature closure above 1 crore.

Karnataka Bank Fixed Deposit Interest Calculator

Calculate Maturity Value Now

Check out full details @https://karnatakabank.com/personal/term-deposits/interest-rates


Leave a Reply

Your email address will not be published.