Increase in interest rates on fixed deposits of less than Rs 2 crore.
The new rates of Karur Vysya Bank are effective from November 10, 2022.
Effect of hike in repo rate by RBI.
New Delhi. After the increase in the repo rate by the Reserve Bank of India (RBI), banks have also started increasing the interest rates. Apart from increasing the interest rate on loans, interest rates on bank deposits have also started increasing. Meanwhile, the private sector’s Karur Vysya Bank i.e. KVB has increased the interest rates on fixed deposits ie FD.
New rates effective from November 10, 2022
According to the bank’s official website, the new rates of Karur Vysya Bank will be effective from November 10, 2022. The bank has increased the interest rates on FDs of less than 2 crores. The bank is now offering interest rates ranging from 4.00 per cent to 6.25 per cent for the general public on FDs maturing in 7 days to above 6 years. Karur Vysya Bank will now pay a maximum interest rate of 7.25% for general public and 7.65% for senior citizens on deposits maturing in 555 days.
FD Rates of Karud Vysya Bank
According to Karur Vysya Bank, the bank will now offer 4.00% interest rate on FDs maturing in 7 days to 30 days and 5.25% interest rate on FDs maturing in 31 days to 120 days. Deposits maturing in 121 days to 180 days will now get 5.50% interest, while deposits maturing in 181 days to less than 1 year will now get 6.00% interest.
On FDs maturing in 1 year to 554 days, Karur Vysya Bank will now offer an interest rate of 6.50% and on FDs maturing in 555 days, the bank will now guarantee an interest rate of 7.25%. The bank is offering an interest rate of 6.50% on FDs ranging from 556 days to 2 years and on FDs maturing from above 2 years to 3 years, the bank will now offer an interest rate of 7.00%.
Tags: Bank FD, FD Rates, Fixed deposits, Money Making Tips
FIRST PUBLISHED : November 11, 2022, 14:53 IST