Karur Vysya Bank, a private sector lender, raised the interest rates on fixed deposits below ₹2 crore. The new interest rates are in effect as of 01.09.2022, according to the bank’s official website. After the adjustment, the bank increased interest rates on fixed deposits with maturities ranging from 31 days to 6 years and above.
Karur Vysya Bank FD Rates
The bank will continue to give an interest rate of 4.00% on fixed deposits maturing in 7 days to 30 days, but it has increased the interest rate from 4% to 5.25% on fixed deposits maturing in 31 days to 45 days. On fixed deposits with maturities ranging from 46 to 90 days, Karur Vysya Bank increased the interest rate from 4.25% to 5.25%. Fixed deposits with maturities between 91 and 120 days will now earn interest at 5.25% (formerly 4.5%), while term deposits with maturities between 121 and 180 days will now earn interest at 5.50% (previously 4.5%).
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On fixed deposits maturing in 181 days to 270 days, Karur Vysya Bank will now offer an interest rate of 5.75%, up from 5%, while on fixed deposits maturing in 271 days to less than a year, the bank will now guarantee an interest rate of 5.90%, up from 5.25%. Fixed deposits with maturities between one and two years will now earn an interest rate of 6.10%, up from the previous rate of 5.75%, while term deposits with maturities between two and three years will now earn an interest rate of 6.10%, up from the previous rate of 5.85%. The bank increased the interest rate on fixed deposits maturing in three to six years or more from 6% to 6.10%.
The bank will continue to provide an interest rate of 5.90% on KVB – Tax Shield, which is a tax-saver fixed deposit scheme of 5 years.
Karur Vysya Bank FD Rates For Senior Citizens
The bank will now give senior citizens an interest rate of 6.50% on fixed deposits with maturities of one year to less than two years, up from the previous rate of 6.25%. On deposits maturing in 2 years to less than 3 years, the bank is now paying senior citizens an interest rate of 6.50%, up from 6.35% previously. Fixed deposits with maturities of 3 years to less than 5 years will now earn an interest rate of 6.60%, up from 6.50% for senior citizens, while term deposits with maturities of 5 years to 10 years will now earn an interest rate of 6.60%, up from 6.50% for senior citizens. On KVB – Tax Shield Deposits, senior citizens will continue to get an interest rate of 5.90%.
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